Diagram Ventures Raises Ca$120 Million Opportunity Fund To Double-down On Its Successful Studio Bets
The Montreal-based firm found itself getting priced out of funding rounds for its own startups. : Five years ago, Francois Lafortune launched a hybrid venture fund and studio with a bold promise: it would have a 100% success rate with its startups. The former founder of residential service platform Vitres.net, and his friend Paul Desmarais III, now cofounder, didn’t understand why the current venture model accounted for an 80% failure rate while, at the same time, large institutions struggled to innovate from within.
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