The global venture capital firm is aiming to raise US$50 million in total for the early-stage investment fund. Montreal-based Fonds de solidarité FTQ anchored the first close. Several other Canadian institutional investors also participated in the round, including Capital régional et coopératif Desjardins, Fonds québécois d’amorçage Teralys and TD Innovation Partners. (The Logic)

Talking point: The fund will invest in North American startups at the pre-seed through seed stages. “As a Series A and B investor…my colleagues and I have always dreaded having to pass on exceptional founders that were ‘too early’ for us,” general partner Sanjay Zimmermann said in a press release. White Star is running into seed-stage investing just as others are shying away from it. Recent data from the Canadian Venture Capital & Private Equity Association shows investors have retreated most from early-stage capital in the years-long venture capital slump. The organization warned that ignoring startups at this stage could threaten the supply of solid companies to invest in down the road.