Many people are not aware of the origin story of the non-profit OSMO Foundation which owns Notman House, and has the goal of supporting the growth and development of the ecosystem in Montreal and throughout Quebec. It was co-founded in mid-2009 by Real Ventures, together with several other companies, organizations and members of the Montreal startup community.
So, the announcement Real Ventures made today, makes it clear that they are as committed as ever to supporting OSMO and Notman in our mission. The firm will be donating 20% of the carried interest from their new fund, OrbitMTL, to the OSMO Foundation.
Their latest fund, of $180 million, has just launched and is backed by multiple Canadian and international investors such as Teralys, BDC, Investissement Quebec, Caisse de Depot, HarbourVest, as well as Asia-headquartered investors, Tencent and Temasek. Of this $180 million, $30 million will go to OrbitMTL, the firm’s accelerator and pre-seed investment strategy in Quebec. It is a portion of the carry from this early-stage fund that will be donated to OSMO.
“For Real, it starts with the desire to contribute to startup ecosystems in a manner that can benefit all active participants,” said Alan MacIntosh. “This collaborative mindset inspires us to launch initiatives that help rapidly growing tech communities across Canada, and wherever else we might go.”
-The OSMO Foundation & Notman House