AAF Management Ltd.

Today I’m proud to announce Also Capital’s first fund, a $21M vehicle catalyzing the next generation of exceptional hard tech founders.  There’s never been a better time to pursue bold and ambitious purposes with people that are having fun and playing to win. We’re fortunate to now be able to do that in a much bigger way than ever before. Read more in the link below! The next decade is going to be fun…

Portfolio company Darmiyan launches Alzheimers testing platform Brainsee. Congratulations Padideh Kamali-Zare and the Darmiyan team! "Darmiyan has launched the BrainSee Platform, featuring the US Food and Drug Administration (FDA) approved BrainSee test for Alzheimer’s disease. This marks a significant advancement in the diagnosis and monitoring of Alzheimer’s dementia risk, particularly for patients with amnestic mild cognitive impairment (aMCI). Darmiyan founding CEO Dr Padideh Kamali-Zare said: “With the BrainSee Platform, we are excited to offer a comprehensive infrastructure that, in addition to administering BrainSee Test, supports remote doctor visits and consultations, comprehensive cognitive assessments, MRI prescriptions, and follow-ups—all covered under Medicare with just a nominal out-of-pocket booking fee.” In January this year, the FDA approved BrainSee, a software as a service (SaaS) platform that is poised to transform the approach to evaluating and tracking the likelihood of progression to Alzheimer’s dementia within five years. The BrainSee test offers a departure from conventional Alzheimer’s assessments that typically depend on non-specific biomarkers such as amyloid or tau. It is entirely non-invasive, has high accuracy, and targets prognosing aMCI, where memory loss is the primary symptom. Utilising AI algorithms, the BrainSee test analyses routine clinical brain MRIs and cognitive test outcomes. It generates a numerical score from zero to 100, reflecting the patient’s risk of developing Alzheimer’s dementia within five years. Scores under 50 indicate a low risk, providing patients with peace of mind, while scores above 50 signal a high risk, prompting early intervention and lifestyle changes to potentially avert or delay dementia. Doctors may opt to repeat the test yearly or more frequently based on their discretion, to track risk alterations and evaluate the effectiveness of medical treatments and lifestyle adjustments in shifting a patient’s risk status from high to low. From this month, healthcare providers across the US will have access to the BrainSee Platform, offering a new tool in the fight against Alzheimer’s disease." #alzheimers #cognition #healthtech #medtech #software https://lnkd.in/eFUSCvED

Congratulations to portfolio company Drata for its recognition as of the 2024 IA40 Winners. The IA40 is a prestigious list curated by Madrona in collaboration with over 70 VCs and PitchBook. #soc2compliance #madrona #IA40

Portfolio company Pelago makes its on Fast Company's 2024 100 Best Workplaces for Innovators list and named a finalist on the Social Good list! Pelago’s virtual clinic offers personalized substance use care for members wanting to cut back, stop or otherwise manage their tobacco, alcohol, opioid and cannabis use. #innovators #addicitioncessation #telehealth

Congratulations to portfolio company Drata for making it on Notable Capital's #SMBTech50 list for the third year in a row! 🚀 #complianceautomation #enterprisesoftware

Congratulations Karim Gillani and David Nault for closing a CAD 96 million Fund II focused on fintech in Canada and the US, we're excited to be part of your journey! Despite tough market conditions leaving many emerging managers struggling to fundraise, FinTech-focused Luge Capital closed its second early-stage fund last month after securing $96 million CAD in total commitments. The Montréal and Toronto-based venture capital (VC) firm ultimately came in just shy of its $100-million target for Fund II, which has a list of limited partners (LPs) ranging from large banks to insurance carriers, pension funds, funds-of-funds, family offices, and angel investors. This brings Luge’s total assets under management to more than $180 million. With Fund II, Luge’s strategy will be “substantially similar” to its approach for its first, $85-million fund, co-founder and general partner (GP) Karim Gillani told BetaKit in an interview. The VC firm plans to keep backing seed and Series A-stage FinTech startups across Canada and the United States (US), building a portfolio of 20 to 25 companies. This time around, Luge intends to write bigger cheques and establish an Alberta presence in Calgary. The final close of Fund II comes about a year after Luge announced a $71-million first close for Fund II from a group that included Fund I LPs Caisse de dépôt et placement du Québec (CDPQ), Desjardins, BDC Capital, Sun Life, Industrial Alliance Financial Group, Fonds de solidarité FTQ and new investor Inovia Capital through its Discovery Fund. Since then, Luge has added more first-time backers, including provincial government-funded Venture Ontario and the Alberta Enterprise Corporation (AEC), and Washington, DC’s AAF Management Ltd. In a shift compared to Fund I, Luge has also brought on other undisclosed family offices and strategic angel investors, many of whom are trusted advisors with knowledge of the FinTech space and have supported Luge in various ways since its launch in 2018. To support its growing operations, Luge has added Ha Duong—former head of finance at Toronto-based software-focused growth-stage investor Georgian—as vice president of finance and operations. “[Duong] is one of the most experienced, well-rounded finance and operational leaders in the venture space,” Gillani said. “He spent more than ten years at a leading [VC] firm, developing and enhancing their core operations.” “The Luge investment team has deep knowledge and experience in FinTech and we see a great fit with their investment focus,” AEC president and CEO Kristina Williams told BetaKit. “FinTech is a growing sector in the province with companies such as Neo Financial and Helcim to mention a few. We have a number of early-stage FinTech-focused companies that would benefit from Luge’s capital and expertise.” #emergingmanagers #fundoffunds #fintech #canada https://lnkd.in/e-x4ZPNc

Congratulations to portfolio company Hapi App for reaching 500,000 clients! Keep crushing it Dusko Kelez and team! 🚀 #fintech #latam #NASDAQ #trading https://lnkd.in/gyfdQizA

Congratulations to portfolio companies Hello Heart and Sure for making it on Inc. Magazine's 5000 for 2024! Hello Heart: Health technology company providing members with a connected blood pressure monitor and AI-driven digital coaching app. The company came in at #1043 with a 3 year revenue growth rate of 489%. Sure: Insurance technology firm unlocking the potential of digital insurance with a SaaS infrastructure that distributes, services and scales digital insurance. The company came in at #4327 with a 3 year revenue growth rate of 99%. #fastestgrowingcompanies #venture #capital #VC https://lnkd.in/g6Yn3rnH

Portfolio company Sure, the insurance technology leader that unlocks the potential of digital insurance, today announced it has been featured on CNBC's list of the World's Top Insurtech Companies. The recognition honors insurtech companies that are revolutionizing the insurance industry through digital platforms and enhancing the customer experience with faster, more seamless insurance experiences. "CNBC honors Sure on its list of the World’s Top Insurtech Companies. After introducing its World's Top Fintech Companies list last year, CNBC launched a separate list of the World's Top Insurtech Companies to showcase the enormous innovation at work across the insurance ecosystem. According to Statista, the value of gross written insurance premiums worldwide is projected to reach $9.91 trillion by 2028, representing a huge market for transformation as a decades-old industry shifts to meet the needs of digital-first consumers. "It's a true honor to be recognized by CNBC as one of the world's top insurtech companies, and it is a testament to our leading position as the only complete technology solution to unlock the potential of digital insurance," said Wayne Slavin, co-founder and CEO of Sure. "We are standing at the gate of a transformational shift for the insurance industry. A fully online network for insurance is the future of insurance sales and operations, and just as Visa and Mastercard paved the way for cashless payments via their networks, we are paving the way for insurance to be run digitally on Sure's insurance rails." CNBC partnered with Statista, a market research firm, to compile this list from over 1,000 eligible companies from around the world. The report identifies insurtech companies spanning six different categories, including: claim and fraud management; digital brokerage and comparison platforms; digital insurers; marketing, sales, and distribution; policy administration and admintech; and underwriting and risk analysis. Sure was honored among industry leaders in the marketing, sales, and distribution category, which highlights insurtechs that provide innovative tools and infrastructure services to improve the way insurance products are distributed. This distinction follows a wave of exciting new releases from the Sure, including Anywhere Insurance, a first-of-its-kind insurance program to launch digital insurance programs faster and at unprecedented scale. Early in 2024, Sure also unveiled Quote Assist™ to empower insurance agents with the tools to bridge the gap between digital and physical insurance purchasing experiences. Further building on Sure's momentum, the company has entered into many new enterprise partnerships with global carriers and brands and been honored with several high-profile recognitions, including the Forbes Fintech 50 list for the second consecutive year." #insurtech #CNBC #SaaS #insurance #technology https://lnkd.in/gXTCAv8e

Portfolio company Flutterwave secures PSP license following its Mozambique expansion, congratulations Olugbenga Agboola and the entire team! The Bank of Ghana has granted Flutterwave, a Nigerian fintech, a Payment Service Provider licence (Enhanced Category). The Enhanced Category Payment Service Provider licence will enable the company to operate independently, without third-party services, simplifying payment processes for businesses and customers. The licence will further empower Flutterwave to support other licensed fintech companies in Ghana by offering essential payment services and promoting a more integrated and efficient financial ecosystem. According to the company, this development translates to more seamless and secure money transfers across the country, with businesses benefitting from the direct collection and payout services, automated invoicing, payment links, and a checkout solution that supports multiple payment methods including cards, mobile money, and bank transfers. “Ghana presents an exciting market for Flutterwave’s innovative solutions. With a stable democracy, a tech-savvy youth population, and a high mobile internet penetration rate of 71%, Ghana is well-positioned for rapid digital adoption. “The country’s digital payments market is projected to reach $7 billion in 2024, with an anticipated growth rate of 15.78%, resulting in a total value of $12.96 billion by 2028,” Flutterwave highlighted. Olugbenga ‘GB’ Agboola, Founder & CEO of Flutterwave expressed that securing this licence in Ghana brings the company a step closer to achieving their goal, uniting the fragmented payment infrastructure in Africa. #fintech #africa #expansion #payments https://lnkd.in/eUecuMFM