White Star Capital closes first institutional fund at $70m

VC fund will initially deploy between $500,000 and $5m to tech start-ups across Western Europe and North America

Venture capital (VC) fund White Star Capital has raised $70m for its first institutional fund.

Co-founded by Eric Martineau-Fortin and Christian Hernandez Gallardo, White Star primarily invests in early-stage data, analytics and mobile technology start-ups  and has offices in London, New York and Montreal.

Backed by sovereign and institutional funds from over 18 markets, the fund will invest between $500,000 and $5m in businesses in the data, analytics and mobile sectors across North America and Western Europe.

White Star Capital has already invested $25 million into a range of businesses such as online advertising platform Glow Digital Media which allows brands to target their most profitable customers on Facebook and Twitter.

Martineau-Fortin commented: “We are thankful for the support we have received from our limited partners in North America and Western Europe, and our peer funds, in evolving White Star Capital from our personal investment vehicle into an established transatlantic VC fund.

“We have built an investment team that can borrow from our combined operational expertise to support our entrepreneurs as they scale globally,”

Jérôme Nycz, executive vice president of BDC Capital, continued:

“We always look to support world-class teams of experienced operators and White Star is best positioned to identify, back and actively help entrepreneurs reach new international markets.”

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