Montréal-based Triptyq Capital has launched its debut fund, with provincial government backing, to support tech startups that provide innovative solutions for the creative industries.
Triptyq intends to support the creation of about 20 startups, and has capital commitments of $40 million. The fund received commitments from the Government of Québec through Investissement Québec, as well as Groupe Lune Rouge, National Bank of Canada, Behaviour Interactive, KO Capital Croissance, PHI, Rodeo FX president and CEO Sébastien Moreau, and unnamed private investors from the creative and tech industries.
The firm plans to invest in tech companies at the crossroads of tech, creativity, and business such as the creator economy, metaverse, Web3, esports, virtual and augmented realities, and any tech within the traditional subsectors including cinema, literature, and music.
A spokesperson for Triptyq told BetaKit that the firm will mainly invest in Québec companies. However, it is also open to pitches from entrepreneurs outside of the province.
Québec Minister of Economy and Innovation Pierre Fitzgibbon noted that the province’s creative sector has had a lack of funding for its entrepreneurs, and funds like Triptyq’s aid in the growth of Québec’s creative economy.
Founded in 2021 by Guillaume Thérien, Bertrand Nepveu and Charles Sylvestre, Triptyq is a seed stage fund that aims to help tech founders committed to bolstering the creative economy.
Thérien said that Québec’s creative economy is currently left out in the whole financing chain. To fill this gap, he said that Triptyq plans to lead funding rounds and invest in “bold teams … thus playing a catalytic role on a Québec-wide scale and promoting the development of stronger creative companies, export technological solutions, and attract foreign investments in Québec.”
Triptyq’s co-founders bring a culmination of expertise in the music, tech, and venture capital sectors. Thérien worked in the sales and marketing side of the music industry for almost a decade having been at Sony Music Entertainment.
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Apart from leading Triptyq, Nepveu is a serial investor, financing more than seven companies in under five years. With years of experience in tech, he is also the founder and CEO of virtual reality tech company Vrvana.
Prior to starting Triptyq with Nepveu and Sylvestre, Thérien was a general manager at Montéal creative hub Zú. Currently, Zú assists Triptyq in selecting candidates and conducting due diligence for companies in the portfolio, as well as promoting the startups’ growth.
Sylvestre worked at development capital network Fonds de solidarité FTQ for six years. He departed from the organization in 2019 as the vice president of investments in IT and telecommunications. In 2020, Sylvester joined Zú as a strategic advisor.
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Originally published on BetaKit : Original article