Seido Capital Closes Its Fifth Investment Fund at Nearly $45 Million, A Fund Specializing in Early-Stage Life Sciences Investments

Montréal, Qc

Seido Capital, a venture capital firm targeting emerging companies in the life sciences sector, announced today the initial closing of its fifth fund at nearly CAD $45 million, with an ambitious goal of reaching CAD $70 million over the next 12 months. This fund is dedicated to early-stage investments in the life sciences sector, with a particular interest in companies utilizing artificial intelligence. An investment thesis that strengthens our commitment to supporting transformative technologies with the potential to redefine patient care through high-impact technological solutions.

"Building on our recent successful exit from CluePoints at over CAD $1 billion—a major transaction with a very high multiple—the intersection of AI, software, and the biopharmaceutical industry will be an important thesis in our upcoming investment strategy," said Olivier Belenger, co-founder and partner at Seido Capital. "We will be active from pre-seed to Series B, offering comprehensive support to startups at various stages of development," added Olivier Belenger.

Strengthening Our Academic Partnerships in Quebec, Canada, and North America

"We leverage partnerships with local universities and research centers that provide us with a proprietary pipeline of high-value opportunities," added Théo Risopoulos, co-founder and partner at Seido Capital. These collaborations enhance our investment opportunities and our ability to identify and support promising technologies emerging from academia, thereby creating new companies," noted Théo Risopoulos.

"Our journey would not have been possible without the support of our longstanding partners, Investissement Québec, the Quebec government, Fonds Eurêka, and Fonds de Solidarité FTQ. Their renewed commitment validates our collaborative investment approach."

"Up to $20 million will be invested in this fund, which finances Quebec-based companies at the pre-seed and seed stages in the life sciences sector. This support will benefit strategic sectors for Quebec's economic growth, and the financial returns will allow us to invest in services for the population," confirmed Christine Fréchette, Minister of Economy, Innovation, and Energy, Minister responsible for Regional Economic Development, and Minister responsible for the Metropolis and the Montreal Region.

"This fund aligns with the objectives of the Quebec Life Sciences Strategy and the Quebec Research and Innovation Investment Strategy 2022-2027. Investing in venture capital is essential to developing our startups and innovative companies stemming from Quebec public research," mentioned Christopher Skeete, Minister Delegate for the Economy, Minister responsible for the Fight Against Racism, and Minister responsible for the Laval Region. 

"The Fonds de solidarité FTQ is proud to continue its commitment with Seido Capital. We recognize its unique expertise in leveraging academic research and creating businesses. Over the past four years, we have seen that the team based in Montreal is an invaluable partner. We are confident that today's announcement will enable us to further support promising startups in the life sciences sector, where the Fonds has deep expertise and experience," said Maxime Pesant, Vice-President of Private Investments and Impact – Life Sciences.

"The Fonds Eurêka is proud to contribute to this fund and thus generate new opportunities for Quebec's innovation ecosystem. Seido Capital plays a key role in the capital chain, enabling research to cross the commercialization threshold. This intervention is all the more strategic in the life sciences sector, a priority for Quebec's economy," added Benoit Leroux, Chairman of the Board of Directors of the Fonds Eurêka.

"We are also excited to welcome new commitments from leading entrepreneurial families in Belgium and Quebec, including a major shareholder from the Belgian banking sector. These partnerships not only expand our network but also enhance our ability to identify and support early-stage opportunities across North America," added Olivier Belenger.

Strong Shareholders and a Proven Track Record

With a Distributed to Paid-In (DPI) multiple of >3x and a net internal rate of return (IRR) of 15 %over the past 20 years across its prior funds, Seido Capital boasts a strong performance track record. "These results reflect our dedication to delivering value to our investors and making a significant impact in the sectors we serve," noted Théo Risopoulos.

Adopting a New Identity: Seido Capital

"To reflect our expanded vision and geographical focus in Quebec, Canada, and more broadly in North America, we have repositioned ourselves as Seido Capital. Inspired by Japanese ideals of precision and resilience, the name ‘Seido' represents our meticulous approach to high-impact investments, our robustness and agility, and our unwavering confidence in the transformative potential of the life sciences sector," said Théo Risopoulos. 

Looking Ahead

"As we embark on this new chapter, our commitment remains the same: supporting innovative companies from seed-stage development to market leadership. By providing not only financial support but also strategic guidance, we aim to foster sustainable, long-term growth for the next generation of transformative technologies," emphasized Olivier Belenger.

About Seido Capital

Seido Capital is a Montreal-based venture capital firm specializing in pre-seed, seed, and startup investments in the life sciences sector. With a strong focus on the convergence of AI, software, and the biopharmaceutical industry, Seido Capital aims to promote innovation across North America by partnering with visionary entrepreneurs to foster technologies that make a real difference.

About Fonds de solidarité FTQ

The Fonds de solidarité FTQ is a Quebec pride that fulfills its mission through a unique business model established over 40 years ago. Since then, the Fonds has united and mobilized Quebec through the retirement savings of over 785,000 shareholder-savers. With net assets of CAD $20 billion as of May 31, 2024, the Fonds supports thousands of companies through venture capital and development investments, driven by the belief that impact is created both financially and societally. For more information, visit fondsftq.com or LinkedIn.

About Fonds Eurêka

The mission of the Fonds d'Investissement Eurêka is to promote the commercialization of innovations derived from Québec public research by making investments that lay the groundwork for innovative new technology companies. It also seeks to attract other pre-seed investors in companies whose intellectual property stems from Québec public research. The Fund is managed and administered by Investissement Québec, with funding provided by the Québec government through the Fonds du Développement Économique du Québec."