TELUS Corporation (TSX: T; NYSE: TU) has committed undisclosed amount to Panache Ventures Investment Fund. With the closing of TELUS commitment, Panache Ventures looks to close its first fund at $50 million, up from the previous target of $40 million.

TELUS joins Fonds de Solidarité FTQ, Investissement Québec, Alberta Eneterprise Corporation as major institutional limited partner investors.

Led by Mike Cegelski and Patrick Lor (Managing Partners) and David Dufresne (Partner), Panache Ventures has closed 28 investments so far in 2018, with the goal to invest in more than 100 start-ups over its investment period.

photo credit: Panache Ventures