White Star aims to acquire a multi-million dollar corporation

In a bid to find startups with the potential to quickly reach a $100 million valuation, White Star Capital, a venture capital firm based in Montreal, has announced the launch of a new $50 million seed fund for North American tech startups.

The decline in venture capital investments in Quebec and Canada over the past two years has been significant. According to the latest data, investments in Quebec have decreased by 57%, with only $524 million invested during the first half of 2025 compared to the same period the previous year. This drop in investments is not limited to the artificial intelligence sectors and has affected various technological sectors.

Despite this decline, Quebec remains in second place behind Ontario among Canadian provinces in venture capital investments. However, most transactions are of relatively low value, under $5 million. The amount of seed capital available in Canada has decreased by about 30% in recent years.

White Star Capital, which was founded 10 years ago in Montreal, has had success in the past with Series A and B investments, which come later in the growth cycle of startups. The firm, with offices in Montreal, Toronto, and New York, among others, claims to have a North American footprint.

The new fund aims to attract Canadian and American startups from various technological sectors. Sanjay Zimmermann will be involved in leading White Star's seed investment, while Catherine Ouellet-Dupuis, former strategy chief at Workleap, has been appointed as a director in White Star Capital.

Two startups that White Star Capital plans to announce in the next few weeks have not been disclosed in the available search results. The firm has also two investments in the pipeline that are expected to be announced in the coming weeks.

One of the success stories in Quebec is Workleap, a Montreal-based company founded in 2006. The company, which offers human resources management tools, is expected to generate around $100 million in revenue this year. Workleap now has 20,000 clients worldwide.

Tensions with the United States, and the unpredictable nature of their economic and foreign policy, are part of the problem. Philippe P. Huneault, Vice-President of Private Placements and Impact Investments, and Head of International Business Development at the Fonds de solidarité FTQ, supports this view. The Fonds de solidarité FTQ believes it's crucial to continue supporting Quebec's new technologies, stating that it's essential for Quebec to take its place in the new economy.

In conclusion, the decline in venture capital investments in Quebec and Canada is a concern for the tech industry. However, with the launch of the new $50 million seed fund by White Star Capital, there is hope for the future of tech startups in North America.