TLDR:
- TandemLaunch secures $27 million CAD in initial closing of Fund IV
- Company focuses on creating and backing early-stage deep technology startups in Montréal
TandemLaunch, a venture studio based in Montréal, has successfully secured $27 million CAD in the initial closing of its fourth fund to support the development of more early-stage deep technology startups. The fund’s limited partners include BDC Capital, Fonds de solidarité FTQ, and over 30 family offices and angels from Canada and abroad. TandemLaunch specializes in commercializing university-developed tech in areas such as AI, computer vision, IoT, sustainability, and advanced sensors.
Founded in 2010 by CEO Helge Seetzen, TandemLaunch aims to capitalize on underutilized intellectual property from universities by acquiring it, building a team, and incubating a startup to commercialize it. The venture studio has created over 30 successful ventures with a collective value exceeding $700 million, employing over 800 tech workers in Québec.
Through its fourth fund, TandemLaunch plans to invest up to $4 million per company, with the goal of launching more than a dozen new startups in Montréal. The company has adapted its approach over the years, transitioning from solely creating companies to also acting as a traditional VC with larger follow-on investment reserves. Seetzen credits TandemLaunch’s success to its international approach to talent acquisition and tech partnerships.
Despite the challenging VC environment, TandemLaunch was able to secure the initial closing of Fund IV with strong support from existing LPs, showcasing the strength of its early portfolio returns. Seetzen’s experience in navigating market cycles has informed his approach to building and financing companies, emphasizing the importance of building solid companies over hype-driven ventures.
