White Star Capital has announced the first close of its new $50 million North American Seed Fund, securing $25 million in initial commitments. The fund is anchored by Fonds de solidarité FTQ and joined by several other limited partners, including Capital régional et coopératif Desjardins (CRCD), Fonds québécois d’amorçage Teralys backed by La Caisse, and TD Innovation Partners, a division of The Toronto-Dominion Bank.
This new initiative was designed to support early-stage founders across the U.S. and Canada who are building globally scalable solutions. At a time when AI and emerging technologies are reshaping industries, White Star Capital is stepping forward with capital, operational expertise, and a long-term commitment to visionary entrepreneurs from the earliest stages.
The North American Seed Fund builds on White Star’s decade-long track record of early-stage investing, which includes backing over 100 companies and delivering top-quartile returns across multiple fund vintages. The fund will be co-managed by Sanjay Zimmermann, based in Toronto, and Catherine Ouellet-Dupuis, based in Montreal. Both bring deep experience in venture investing and company building, with Catherine previously serving as Chief Strategy and Corporate Development at Workleap, a fast-growing IT and HR tech firm.
White Star’s seed strategy blends local insight with global reach. Portfolio companies gain access to a broad network of venture partners, advisors, and go-to-market experts across White Star’s international hubs, which span New York, Toronto, Montreal, Austin, Miami, London, Paris, Zurich, the UAE, and Singapore. The fund will lead investments ranging from $500,000 to $2 million, with reserves for follow-on capital through Series A and beyond.
As the fund moves toward its final close, White Star Capital plans to introduce a new General Partner based in New York to strengthen its North American presence further.
KEY QUOTES:
“As a Series A and B investor deeply embedded in the New York, Toronto, and Montreal tech ecosystems for the past decade, my colleagues and I have always dreaded having to pass on exceptional founders that were ‘too early’ for us. With the strategic support of Fonds de solidarité FTQ, we are thrilled to be in a position to provide North American entrepreneurs with an unfair advantage, even earlier in their journey.”
Sanjay Zimmermann, General Partner
“Over the past ten years, the Fonds de solidarité FTQ has made direct and indirect venture capital investments totaling $2.7 billion. With this new seed fund from White Star Capital, we are continuing our commitment to emerging companies shaping the economy of the future – an effort reflected as well in our support for Ax.c, the new initiative for Quebec’s tech startups and innovative entrepreneurs.”
Dany Pelletier, Executive Vice-President of Private Equity and Impact Investing at the Fonds de solidarité FTQ
“I’m excited to be joining White Star Capital to build a Seed Fund that gives local early-stage companies the backing they need to grow into global champions. Having been through the challenges of scaling a business internationally, I know how valuable it is to have the right people in your corner. With White Star Capital’s global platform, network, and deep market insights, I’m looking forward to working side-by-side with founders and joining a team that’s known for rolling up its sleeves to help them succeed.”
Catherine Ouellet-Dupuis, General Partner
