The Montreal-based venture capital firm aims to raise $100 million in total for Luge Capital Fund II. Returning investors include the Caisse de dépôt et placement du Québec, Desjardins, BDC Capital, Sun Life, Industrial Alliance Financial Group, Fonds de solidarité FTQ and new investor Inovia Discovery Fund I. (The Logic)

Talking point: Luge’s first fund, which launched in 2018 and raised $85 million, has invested in 21 companies, including Montreal-based Flinks, Calgary-based OneVest and Toronto-based Plooto. Luge Capital II will similarly invest in early-stage fintech startups in Canada and the U.S. It will also expand its scope to include startups operating at the intersection of financial services and other large industries, as well as fintech-oriented environmental, social and governance (ESG) firms. In a release, Luge Capital said it expects to make slightly larger initial investments with its second fund than it did with its first.