Power Financial backed Diagram launches with $25M funding

Diagram Corporation, a Power Financial backed new venture launchpad for financial, insurance and healthcare technology companies, announced its launch with $25 million in funding.

Based in Montreal and Toronto, Diagram aims to be a different kind of launchpad for Canada. Its unique strategy of making a few large, concentrated investments allows for a hands-on approach.

Key investors include Portag3 Ventures LP and a group of more than 50 individual investors including Adam D’Angelo (CEO of Quora and former CTO of Facebook), Ryan Holmes (CEO of Hootsuite), Anthony Lacavera (Globalive Capital), Joe Lonsdale (founder of Palantir, Addepar and 8VC), Nadir Mohammed (former CEO of Rogers), Dan Robichaud (CEO of PasswordBox), and Razor Suleman (founder and former CEO of Achievers).

Diagram is led by founder & CEO François Lafortune and Chairman Paul Desmarais III. Lafortune is also Managing Partner at Portag3 Ventures, while Desmarais is also Executive Chairman of Portag3 Ventures and VP of Power Corporation and Power Financial.

Diagram has made its first two investments: Dialogue, a Montreal-based virtual health and wellness platform for choice employers, and Collage, a Toronto-based cloud platform that automates HR and benefits for Canadian businesses.

Both Dialogue and Collage are portfolio companies of Portag3 Ventures.

photo credit: SpaceX via Unsplash

Ted Liu

Ted Liu, M.Sc. (Mining, Queen's), MBA (Finance, Toronto), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.