Amplitude Ventures’ CAD$200M Precision Medicine Fund Oversubscribed

[Update July 2022: LQT Therapeutics Inc. changed its name to Thryv Therapeutics Inc.]

Amplitude Ventures’ looks to build healthtech companies, along with making traditional investments in existing companies. Their strategy is to invest in early and late-stage companies, sourcing very early-stage companies, ideas, or projects focused on precision health. From there, the firm invests and looks to build out a company that can achieve scale.

In January, Amplitude invested in LQT Therapeutics as part of a yet-unannounced funding round.

Amplitude directs their efforts towards opportunities that allow them to create, build, and grow hyper-growth companies with real potential to deliver accelerated growth and build and deliver sector leading value.

In their latest press release, “Amplitude Precision Medicine Fund Oversubscribed at Final Close”, on June 17 2021, they announced:

“In under 20 months we’ve exceeded our raise target and attracted investment from across the country and internationally,” said Jean-François Pariseau, Partner. “We’re proud to add leading new limited partners like the Royal Bank of Canada (RBC) to our syndicate and to draw participation from entities new to the Canadian biotech scene like Alexandria Venture Investments and Cathay Capital.”

Through the fund, Amplitude strategically invests in companies that have the potential to exceed a billion-dollar valuation. Repare Therapeutics, the fund’s first investment, is public with a current value of USD$1.5B. Since funding Repare, Amplitude has added nine other exciting companies to its portfolio including Giiant Pharma and several others that will be announced in the coming months.

As detailed in the subsequent Betakit article, “Amplitude Ventures’ Precision Health Fund Exceeds $200 Million Target Following Final Close” by Isabelle Kirkwood, June 17 2021:

Amplitude invests with a focus on specific verticals within precision health, a field that exists at the intersection of tech and healthcare. With an investment period of five years starting in November 2019, the fund’s thesis is based on supporting three regional clusters in Canada’s precision health ecosystem: next-generation imaging and intelligent medical devices in Toronto, AI and machine learning in Toronto and Montréal, and targeted and cellular therapy in Vancouver…

In January, Amplitude also invested in Montréal-based LQT Therapeutics as part of a yet-unannounced round of funding.

Amplitude portfolio. Click to view their website

At LQT Therapeutics we are very excited and encouraged by the burgeoning investment and interest in Canada’s biotech innovation and growth.

You can view our Pipeline and recent announcements here.