White Star Capital, a transatlantic venture capital group, has
raised US$ 70 million in Limited Partner commitments for its first
The Guernsey-domiciled investment vehicle will deploy between
US$ 500,000 and US$5 million in initial investments into fledgling
technology companies across North America and Western Europe which
White Star believe have the potential to achieve global scale.
The fund is primarily backed by sovereign and institutional
funds supported by entrepreneurs and family offices from more than
18 markets. The company has already deployed US $25 million into
companies such as robotic locksmith KeyMe in New York, IoT predictive analytics
firm mnubo in
Montreal and financial exchange Cryex in Stockholm.
White Star was co-founded by managing partners Eric
Martineau-Fortin, an experienced technology M&A banker, and
Christian Hernandez Gallardo, a former Facebook executive.
Jean-François Marcoux, the co-founder of gaming company
Ludia, joins the pair and a team of experienced former
entrepreneurs, who have founded, scaled and exited businesses.
"We are thankful for the support we have received from our
Limited Partners in North America and Western Europe, and our peer
funds, in evolving White Star Capital from our personal investment
vehicle into an established transatlantic VC fund," said Mr
"We have built an investment team that can borrow from our
combined operational expertise to support our entrepreneurs as they
Mr Hernandez Gallardo said the ability to create and scale
world-class companies was now a global phenomenon.
"We founded White Star Capital to partner with ambitious
entrepreneurs from established tech hubs like London and New York,
and from fast-emerging clusters like Montreal and Berlin. We see
ourselves as active partners to the entrepreneurs we back and will
deploy funding, but also add our experience and global network to
allow them to succeed in their ambitions," said Mr Hernandez
Guernsey Finance Chief Executive Dominic Wheatley said:
"Guernsey has a built a strong reputation over a number of
years in the private equity and venture capital space and we are
delighted that White Star Capital has added to this by choosing the
Island as the domicile for its first institutional fund. The
company has some very exciting plans to work with ambitious
entrepreneurs from the technology and fintech space and it's
great that Guernsey can be a part of this."
BDC Capital, a subsidiary of the Business Development Bank of
Canada, is the anchor investor in White Star Capital.
Jérôme Nycz, Executive Vice President of BDC Capital,
said: "We always look to support world-class teams of
experienced operators and White Star is best positioned to
identify, back and actively help entrepreneurs reach new
international markets. Their performance to date showcases the
strength of their business model and we look forward to our
continued partnership with the team."
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