White Star Capital closes $350 million global venture fund

White Star Capital announced the closing of its fourth global venture capital fund at CAD 350 million. The fund received commitments from Canadian institutional investors such as Fonds de solidarité FTQ, Investissement Québec, Desjardins and several banks, as well as European backers including Italy’s CDP Equity, France’s Swen Capital Partners, Groupe ADP and the Guernsey pension fund.

The firm plans to continue its Series A and Series B investment strategy, writing cheques of $5‑15 million USD and reserving roughly half of the capital for follow‑on investments. To date it has backed eight companies, among them Montreal‑based intelligence platform Tetrix, and is focusing on areas where it has deep expertise, notably physical AI, AI‑powered commerce infrastructure, healthcare and financial services.

Founded in 2014 by managing partners Eric Martineau‑Fortin and Jean‑François Marcoux, White Star Capital operates from offices in the United Kingdom, New York and Canada, and recently launched a $50‑million North American Seed Fund. The new fund is seen as a bright spot in a challenging fundraising environment for Canadian venture capital firms.