Canadian VC firm Impression Ventures has reached a close for its second fintech fund at C$20m ($15.5m). FairVentures, a subsidiary of Fairfax Financial Holdings, is serving as the fund’s anchor investor alongside a number of family offices interested in exposure to the fintech space.
Based in Toronto Impression Ventures II will invest in early stage fintech companies developing both consumer and business-facing solutions. It will also partner with FairVentures explore opportunities and make investments in the insurtech space.
The new fintech-focussed fund follows the firm’s previous investments in wealth advisor Wealthsimple, digital receipt platform Sensibill and parking space payments app Honk.
The new fund will also see the company add several new advisors to its team including Canadian entrepreneur Claudia Hepburn and currency exchange platform XE’s founder Steve Dengler.
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