On September 26, 2023, Luge Capital Inc. announced that it closed $71 million of its target $100 million fund. The Limited Partners in the new fund, Luge Capital Fund II, consisted of existing investors including Caisse de dépôt et placement du Québec (CDPQ), Desjardins, BDC Capital, Sun Life, Industrial Alliance Financial Group (iA), and Fonds de solidarité FTQ and a new investor, iNovia also participated through its Discovery Fund.
Lugo Capital Inc. is a venture capital fund focused on fintech.
Osler, Hoskin & Harcourt LLP advised Luge Capital Inc. with a team consisting of Chima Ubani, Elisabeth Novak, Stefane Manolakis, (Emerging and High Growth) and Alain Fournier (Tax).