Launch of Luge Capital, a new fund focused on FinTech and artificial intelligence applied to financial services

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Luge Capital, a new venture capital fund specifically focused on early-stage FinTech companies and artificial intelligence (AI) solutions applied to financial services, today announced that it has completed a $75 million round of financing to begin operations. Initially, $50 million of the raised capital was announced in October 2017 by the Caisse de dépôt et placement du Québec (CDPQ) and Desjardins Group, two of the fund’s major investors. Sun Life Financial, the Fonds de Solidarité FTQ and La Capitale are also significant participants. Luge may expand the fund even further up to $100 million in the coming months. Luge invests in teams that improve financial services for people, businesses and financial institutions. The fund will support the development of innovative solutions that improve customer experiences, enhance efficiency for financial institutions and implement data-driven methods and artificial intelligence for decision-making. Luge Capital will concentrate on Seed and Series A financing, with initial investments between $250,000 and $2 million. false false false The Luge team is a diverse group of investors, founders, operators and engineers who work closely with entrepreneurs to offer meaningful connections and guidance. David Nault, who has more than 20 years of entrepreneurial and investing experience, will lead the Montreal office and Karim Gillani, who has extensive experience in FinTech, will run the Toronto office (see their complete biographies below). In addition to the core team, Luge has also partnered with iNovia Capital with whom they will collaborate on co-investment opportunities and operations. Why the name Luge Capital? Luge athletes face the same experiences and emotions as entrepreneurs. They live through twists and turns, manage risk and are driven to succeed. They think carefully about strategy, compete with all their energy and push beyond their limits. They are daring, maybe even a bit crazy. That is what we look for in founders. false false false