Venture builder and investor Diagram announced that it has raised $80 million for its ClimateTech Fund, exceeding its $60 million target for the environmental solutions innovations-focused fund.

Backed by alternative asset manager Sagard, Montreal, Quebec-based Diagram conceives and launches technology companies across sectors including financial services, insurance, and health industries, supporting entrepreneurs with a proven track record or domain expertise in starting buseinsses by providing access to venture capital investment, hands-on support, and its network of partners and incumbents.

The ClimateTech Fund aims to build and invest in companies developing capital-efficient digital solutions that accelerate the global transition to a more sustainable future, and to invest in promising early-stage companies, with a particular focus on Quebec-based businesses. The fund is jointly led by Diagram Partners by Amélie Foz-Couture and Paul Manias.

Manias said:

“Innovation is a key to combating climate change. Our mission, and our passion, is to support groundbreaking technologies and businesses that not only address today’s current environmental challenges but also pave the way for a more sustainable world.”

LP investors in the fund include Sagard, le gouvernement du Québec, through Investissement Quebec, Export Development Canada, Fondaction, BDC Capital, Teralys Capital, Mavrik Corp., Desjardins Capital, and BoxOne Ventures, in addition to private investors.

To date, the ClimateTech Fund has established two ventures, including ReliON, a software company offering comprehensive end-to-end operation & maintenance solutions for EV charging infrastructure, and Lyteflo, an electric vehicle sales enablement solution with a particular focus on battery health.

Foz-Couture said:

“Climate change is the biggest challenge of our generation and we need ambitious ideas and founders to tackle it. We are excited about the impact that our first two ventures, ReliON and Lyteflo, can have on accelerating the transition to EVs, and we look forward to the impact we can have across other sectors as we continue to deploy.”