Montreal-based Diagram Ventures has closed its first ClimateTech Fund, securing $80 million CAD, surpassing its original $60-million target. The fund, backed by Sagard and Investissement Québec, aims to launch and invest in early-stage cleantech startups focused on solutions for climate change and emissions reduction.
Diagram has built a reputation for FinTech ventures but is now expanding into ClimateTech. The fund will deploy $2 to $5 million per startup, targeting 15 to 20 companies in Canada, with a focus on Québec. Partner Amélie Foz-Couture noted the potential to position Canada as a leader in climate innovation.
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