Canada Trailblazer Fund will invest in Canada-based cloud services startups and has already backed Tier1CRM, Traction Guest, Tulip and OSF Commerce.

Salesforce Ventures, the corporate venturing arm of US-based enterprise software producer Salesforce, launched a $100m vehicle called Canada Trailblazer Fund yesterday that will focus on cloud services startups.

The news follows a February 2018 commitment by Salesforce, which has more than 1,300 employees in Canada, to invest $2bn in the country over the next five years.

The fund’s first four portfolio companies include Tier1CRM, which provides cloud-based customer relationship management products built on Salesforce’s platform to target the capital markets industry.

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