Montréal-based TandemLaunch, a venture studio specializing in deep-tech startups, has closed its fourth fund at over $37 million CAD.
The fund will fuel the launch of 15 new tech companies in sectors including AI, IoT, sustainability, and advanced sensors.
Backing University-Based Innovations
TandemLaunch specializes in identifying breakthrough university research, acquiring intellectual property (IP), and building startups around it. The firm has already backed two companies from Fund IV:
- Agapyo – A cleantech startup developing compostable plastic replacements.
- Waveshaper – An AI-driven audio processing company.
Government & Institutional Support
The Government of Canada’s Venture Capital Catalyst Initiative (VCCI) committed $6.5M to Fund IV, joining lead investors BDC Capital and Fonds de solidarité FTQ, along with 30+ family offices and angel investors from Canada and abroad.
Rechie Valdez, Canada’s Minister of Small Business, cited TandemLaunch’s success in transforming university innovations into high-potential startups as a key reason for federal investment.
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A Strong Track Record in Deep Tech
Since its founding in 2010, TandemLaunch has:
- Created 30+ startups, collectively valued at $700M.
- Supported companies like Sportlogiq, Wrnch, Soundskrit, and HaiLa Technologies.
- Helped employ 700+ tech workers in Québec.
Navigating a Challenging VC Market
Despite securing $37M, TandemLaunch originally aimed for $40M by September 2024 but faced delays due to tough fundraising conditions in Canada’s VC landscape.
With Fund IV now closed, the firm, led by CEO Helge Seetzen and managing partner Émilie Boutros, continues its mission to bridge the gap between academic research and commercial success, ensuring Montréal remains a hub for deep-tech innovation.
