Tech & Telecom
 

August 3, 2020

 
 
Top news
 
U.K. tech investment fund chooses Canada for North American headquarters
 

Fred Lum/The Globe and Mail

  U.K. tech investment fund chooses Canada for North American headquarters
 

Yeji Jesse Lee

A U.K.-based investment fund that specializes in developing ultra-early-stage tech companies by backing individual entrepreneurs directly is launching operations in North America with a new office in Toronto.

 
Backed by industry notables such as Reid Hoffman, co-founder of Linkedin, Entrepreneur First (EF) fund has raised more than US$500-million worldwide and built up companies such as Magic Pony Technology, a machine-learning company acquired by Twitter Inc. in 2016 for US$150-million, and Bloomsbury AI, a natural language processing (NLP) technology company acquired by Facebook Inc. in 2018. In early 2019, EF raised a new round of US$150-million, and part of that will back the first new ventures the firm supports in Toronto.

 
 
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