Montreal- and Toronto-based software startup Brio creates software-as-a-service platforms that automate and simplify the management of limited partners. Brio, which is a spinoff of Canadian VC firm Brightspark Ventures, announced Monday it raised $3 million in seed funding, with additional investors Walter Global Asset Management, and Canso Investment Counsel. (The Logic, BetaKit)
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Montreal- and Toronto-based software startup Brio creates software-as-a-service platforms that automate and simplify the management of limited partners. Brio, which is a spinoff of Canadian VC firm Brightspark Ventures, announced Monday it raised $3 million in seed funding, with additional investors Walter Global Asset Management, and Canso Investment Counsel. (The Logic, BetaKit)
Talking point: Montreal-based VC firm Brightspark is an investor in Canadian companies like Hopper and AdHawk—the latter of which Google’s parent company is reportedly looking to purchase. BetaKit first reported the news of Brio’s all-equity, all-primary seed round. Brio plans to use the funds to expand the platform’s scope beyond servicing VC firms to also work for private equity, real estate, and multi-family offices. Founder Audrey Ostiguy said the idea came about as Brightspark’s special purpose vehicle investing required manual back-office labour and decided to build a platform for its own funds.
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