Montreal-only venture investor Montreal Start Up announced today the closing of a $2 Million investment in its venture capital fund by the Solidarity Fund QFL, bringing to $5M the amount of assets under management. The Solidarity Fund QFL joins Investissement Québec, la Conférence Régional des Élus and twenty of Montreal entrepreneurs and investors who have partnered with Montreal Start Up to address the need for more early stage capital and mentoring in the technology sector.
"We have met with hundreds of entrepreneurs since our launch and the quality and creativity of the ideas we are seeing is constantly improving." commented John Stokes, Managing Partner, Montreal Start Up. " We were having to turn down good deals because of the limited amounts of capital available to us. The support of Solidarity Fund QFL will allow us to support more of Montreal’s best startup companies".
Montreal Start Up launched its investment fund in March of 2008 with the intent of filling the seed stage funding gap and plans to announce additional investment partners in the future.
In addition, Montreal Start Up announced today new investments in four Montréal based companies, Mobilize Central, KeenKong (no website), The Book Oven and Oneeko; these investments are in addition to it’s previously announced investments in Standout Jobs and Akoha.