Investment partner Impression Ventures Fund II recently announced the close of $20 million for its fund, which it would use to support start-ups across Canada that utilise financial tech (FinTech) to deliver innovative solutions.
The anchor investors in Fund II include FairVentures—a subsidiary of Fairfax Financial Holdings—as well as family offices, reported
BetaKit.
In its first fund, Impression Ventures had invested in other FinTech newcomers such as HonkMobile, Sensibill, and Wealthsimple.
Impression Ventures is adding several new advisors into its fold, and is partnering with FairVentures to make investments related to the insurance industry.
“Impression Ventures has a strong record of finding quality early-stage financial technology companies,” said Fairfax Financial Holdings president Paul Rivett. “We are very pleased to partner with Christian and his team as we continue to seek out innovative companies and technologies to support and grow the Fairfax group over the long term.”
According to
BetaKit, FairVentures is currently based in Communitech, where it is looking to collaborate with insurance start-ups.
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