June 3, 2018 / 8:06 PM / 5 months ago

Tech backer White Star Capital raises $180 million for second fund

LONDON (Reuters) - White Star Capital, the start-up funder co-founded by ex-technology deals banker Eric Martineau-Fortin, has raised a second, $180 million fund that was significantly oversubscribed.

The fund, which had originally aimed to raise $140 million, will look to invest between $1 million and $6 million in around 20 new companies and has already invested in eight, it said.

Among the companies to receive backing are Canadian financial technology firm Borrowell, German insurance technology company Clark and British digital health company Echo, it said in a statement.

White Star, co-founded by Jean-Francois Marcoux, the co-founder of mobile game publisher Ludia, and former Facebook executive Christian Hernandez Gallardo launched its first fund in 2015 with $70 million.

Since 2014 it has backed 26 companies and said it would continue to focus on companies that use data as a competitive advantage and which it can help grow internationally.

Among investors to back the second fund were large institutions including Caisse de depot et placement du Quebec and Fonds de solidarite FTQ, as well as funds including Swen Capital Partners and companies including Veolia.

Reporting by Simon Jessop and Eric Auchard; Editing by Alexander Smith

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