Montreal launches $5m venture arm targeting early-stage digital technology startups.
Montreal, one of Brazil’s largest IT companies, launched a new corporate VC arm this month with R$30m ($5.2m) to invest in digital startups.
The unit, called Montreal Ventures, calls itself the vehicle for Montreal’s innovation strategy, and will invest across cybersecurity, fintech, AI, Internet of Things, IDtech and govtech, targeting pre-seed, seed and series A-stage startups.
It has said it plans to differentiate itself with “smart money”, focusing more on the value-add and not competing on money, but giving portfolio companies access to Montreal’s network, mentoring and support, as well as visibility at events.
Fernando Moncada Rivera
Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
