New CEO 07:15 AM EST, 11/26/2021 (MT Newswires) -- Constellation Software (CSU.TO) after trade Thursday announced the creation of a $200-million venture capital fund that will provide financing for start-up and rapidly growing vertical market software businesses over a three to five year period. Most of the businesses will have been either incubated or identified by a sponsoring Constellation business unit. The Fund's objective is to develop organic growth processes which can eventually be rolled out more broadly by Constellation's operating groups.
While Constellation regularly invests in dozens of small initiatives and will continue to do so, the fund, VMS Ventures, will only invest in businesses that have the potential to become standalone business units within Constellation.It will not back start-ups that have to rely upon a Constellation business unit for on-going sales, marketing, customer support, development.
The Managing Partner of the Fund will be Daan Dijkhuizen. He will also continue to be the CEO of the Topicus Operating Group (TOG) within Topicus.com, but will resign his role as CEO of Topicus.com. Robin van Poelje will take on the role of the CEO of Topicus.com in addition to his current position as Chairman.