Amplitude Ventures has closed its second fund, Amplitude Ventures Fund II (together with parallel funds, Fund II) at US $192 million
Limited partners include BDC Capital (government, direct and VCCI), Investissement Québec (government), Fonds de solidarité FTQ (labour fund), CDPQ (pension), Royal Bank of Canada (bank), Fondaction (labour fund), Teralys Capital (VCCI), Venture Ontario (government), Alberta Enterprise Corporation (AEC) (government), NorthLeaf Capital Partners (VCCI), InBC (government), Finchley Healthcare Ventures (private) and others.
Led by Jean-François Pariseau and Dion Madsen, former partners with BDC Capital life science program, closed first fund at $200 million in Jun 2021.
photo credit: Amplitude Ventures
News Release
Amplitude Ventures Closes $263 Million Precision Medicine Venture Fund
MONTREAL, May 28, 2024 /CNW/ – Amplitude Ventures, a full-stack venture capital firm focused on investing in precision medicine at the intersection of biology and AI, today announced the close of its $263 million (US$192 million) Fund II. The new fund substantially exceeds the size of Amplitude’s inaugural fund and enables the firm to continue to invest with entrepreneurs and innovators who are building new precision medicine companies that are driving meaningful outcomes in human health.
With its focus on creating and building companies, Amplitude has been supporting entrepreneurs and innovators since 2019 and counts Repare Therapeutics (NASDAQ: RPTX), Abdera, Congruence, Radiant and Valence (acquired by Recursion) among its most notable Fund I investments. The firm’s second fund will amplify its ability to launch and build groundbreaking innovative concepts.
Amplitude’s second fund includes leading institutional investors CDPQ, Royal Bank of Canada, Investissement Québec, Fonds de solidarité FTQ , BDC Capital, Fondaction, Teralys Capital, Venture Ontario, Alberta Enterprise Corporation (AEC), and adds new limited partners NorthLeaf Capital Partners, InBC, Finchley Healthcare Ventures, and is also backed by the Government of Canada’s Venture Capital Catalyst Initiative (VCCI), administered by BDC Capital, under the Life Sciences Stream.
“We are grateful for the strong support of our limited partners, who have once again demonstrated their continued confidence in our team and our investment strategy,” said Jean-François Pariseau, Partner and Co-Founder at Amplitude. “We are excited to continue to grow our unique innovation acceleration model as we work to build globally competitive companies in the field of precision medicine.”
The new fund paves the way for greater company-creation activities. With over $500 million in assets under management, Amplitude has the financial resources to accelerate the creation and launch of high-impact companies. The addition of new strategic partners such as Evotec, pulls together additional critical development capabilities necessary to accelerate innovation from idea to IPO.
Leveraging its strong deal flow, Amplitude has already made four out of a total of 14-16 planned investments out of Fund II, including:
Evommune, Inc., a Palo Alto-based biotech company, is creating game-changing therapeutics to treat immune-mediated inflammatory diseases.
Tentarix Biotherapeutics, a Vancouver / San Diego-based biotech company, is developing first-in-class targeted, multifunctional, conditional therapies focused on modulating cell-specific functions while increasing the safety profile for biologics.
Reverb Therapeutics, a Vancouver-based company, is developing treatments for cancer and other diseases using the body’s natural endogenous cytokines.
Evolved Therapeutics, a Vancouver-based company, is focused on establishing innovative antibody discovery platforms to enable the discovery of first- and best-in-class therapeutics.
“We have been an early investor in companies leveraging AI to fuel drug discovery and have built a team of company builders, venture partners, and venture associates who are well positioned to drive Amplitude’s powerful investment strategy,” said Dion Madsen, Partner and co-Founder at Amplitude. “With Fund II, we will continue to leverage our strategic investors to support our portfolio companies and accelerate the progress of their innovation to benefit patients and their families.”
About Amplitude
Amplitude Ventures is a full-stack venture capital firm using a unique growth model to build companies with world-class management teams and to scale companies to breakout potential. With more than $500 million in assets under management and offices in Montreal, Toronto, and Vancouver, Amplitude applies a proven, evidence-based approach to investing in leading precision medicine companies. Visit amplitudevc.com to learn more.
SOURCE Amplitude Ventures
For further information: Media relations: Marc Boissé Kippen, marc@mercureconseil.ca, + 514-700-5550 ext. 554