After announcing the arrival of a new early stage venture fund in April, Real Ventureshas launched. The site is just a placeholder, but announcements were made by two of the fund’s partners: Mark MacLeodand JS Cournoyer. JS goes into fairly extensive details on the fund’s investment strategy, which will be to focus on early stage tech companies that get out the door quickly and don’t require a ton of capital to scale.
Mark MacLeod says it succinctly:
We are seed investors in software startups based primarily in Quebec, though we will do deals in other markets. We like to be 1st money in and like to lead. We can do seed rounds in the six figures to get a product in market and can participate in series A follow ons for those companies that are hitting the gas pedal.
The size of the fund is ~$50 million including a significant portion of funding from the government. More details will come out over the next little while as Real Ventures ramps up.
Real Ventures in some respects is a second (and much bigger) version of Montreal Startup, a $5 million dollar early stage fund that invested in 15 companies in Montreal including Beyond the Rack, StatusNet, Vanilla Forums, Recoset and SocialGrapes. The team is largely the same, with Real Ventures being led by John Stokes, JS Cournoyer, Mark MacLeod (who is joining Real Ventures and wasn’t a partner at Montreal Startup) and Alan MacIntosh.
It will be very interesting and exciting to see Real Ventures’ impact on the Montreal tech scene. The team behind it has already had a huge impact, and now with Real Ventures closed it will quickly accelerate what they’re able to do.
For more information about Real Ventureshas. Click here.