Panache Ventures II surpasses $50M with 2nd close with Alberta Enterprise Corporation

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By Ted Liu

Panache Ventures has held a second close for Panache Ventures II with over $50 million in total commitments. Fund II has reportedly target of $75 million.

The initial close was primarily from high net-worth individuals and second close is from Alberta Enterprise Corporation.

Fund II is being led by GPs, Michael Cegelski, Patrick Lor, Prashant Matta, Scott Loong, Chris Neumann.

Fund II will continue to focus on seed and pre-seed investments.

Panache Ventures I is a $60.5 million 2018-vintage fund that final closed in 2019 with commitments from Alberta Enterprise Corporation, Fonds de solidarité FTQ, Investissement Québec, Yukon First Nations, and TELUS Corporation.

photo credit: Panache Ventures