Diagram shifts focus to launching new companies with early success of initial two ventures, expanded team, and 7 additional angel investors.
MONTREAL, Sept. 12, 2017 /CNW Telbec/ - Diagram, a venture launchpad building Canadian-based, global tech champions in insurance, financial services, and healthcare, announced today that it has expanded its team and closed an additional $5M round extension with new investors including Angela Strange (Partner at Andreessen Horowitz), Dax Dasilva (CEO & Founder at Lightspeed), and Mike Cegelski (Managing Partner at Panache Ventures), bringing total committed capital to $30M.
To bolster its venture creation team, Diagram is bringing on Dan Robichaud as Managing Partner and Marc-Antoine Ross as Chief Innovation Officer.
Dan Robichaud is a serial entrepreneur whose last company PasswordBox was acquired by Intel in 2014. "As an entrepreneur who has had four exits, I wish there had been a platform like Diagram to support me as I launched and scaled my businesses," said Robichaud. "Diagram's model is one-of-a-kind and is structured to be extremely entrepreneur friendly by giving them the right infrastructure, support, ownership and capital to succeed. This is what led to me joining their team to work with the best entrepreneurs out there and build giant Canadian companies that will have a global impact."
"The vision, focus, and freedom brought by Diagram is the perfect setting for entrepreneurs to create innovative businesses. Being able work with them and make such an impact early-on to bring these ideas to life is very exciting," adds Ross.
Diagram's focus has shifted towards building its next set of companies, doubling down on its unique strategy of concentrated investments, hands-on approach to venture creation, and privileged support from Portag3 Ventures LP and a group of over 50 angel investors.
"It's an honour to have Dan and Marc-Antoine joining us at Diagram. Their passion for building great products, combined with their focus on fast, data-driven iteration will be invaluable as we build our next wave of ventures," said Francois Lafortune, Founder and CEO of Diagram.
"The early success of Diagram and its first two companies, Collage and Dialogue, is clear evidence that their team of builders and operators are onto something. I'm confident their unique approach to building companies will result in the creation of the next global leaders based in Canada," said Paul Desmarais III, Executive Chairman of Portag3 Ventures LP and Senior Vice President at Power Financial Corporation.
For the full list of angel investors, visit https://diagram.ca/backers/.
Diagram Ventures is a launchpad for the most exciting ventures in insurance, financial services and healthcare. By making much deeper commitments of resources and energy, focused on a smaller number of companies, Diagram gives brilliant Canadian ideas a platform to become global players. Key investors include Portag3 Ventures LP, a corporate partnership exclusively sponsored by Power Financial Corporation, IGM Financial Inc. and Great-West Lifeco Inc., and a group of more than 50 individual investors who provide Diagram's projects with an unmatched wealth of perspective, mentorship and connections. For more information, visit https://diagram.ca.
SOURCE Diagram Ventures
For further information: Karel Vuong, 416-452-9534, firstname.lastname@example.org