AdBio plants flag in Montréal with €120M Fund III

French venture firm AdBio has opened its first office in Montréal, backed by a €120-million Fund III that includes capital from Québec’s Fonds de solidarité FTQ. The fund is reportedly intended for early-stage biotech and medtech companies.

The choice of Montréal follows a year of venture-backed activity in the city’s life-sciences sector. Recent deals include Scopia’s pre-seed for AI-guided robotic surgery, Onix’s pre-seed for an AI wellness advisor, and Axya’s Series A for manufacturing procurement. AdBio’s partners have suggested they see advantages in the region, though the firm has not disclosed specific investment targets.

The timing may reflect broader trends. Some observers note that certain funds have become more selective, potentially creating opportunities for firms like AdBio. The firm’s Fund III is smaller than its previous fund, but the firm appears to be betting on the region’s resources.

Fonds de solidarité FTQ’s involvement could provide AdBio with local connections, including access to networks that may support early-stage companies. Québec’s ecosystem includes public incentives that some startups have leveraged to extend their runway.

Still, the office’s impact remains to be seen. The firm has not yet announced any Canadian portfolio companies, making it unclear whether AdBio will prioritize local startups or maintain its existing focus. The Montréal team is reportedly engaging with local accelerators, though no deals have been confirmed.

What readers should watch is whether AdBio’s capital flows into Québec or primarily supports its existing strategy. If the firm makes local investments, it could signal a meaningful expansion; if not, the office may serve more as a bridge for European activity. Either way, the €120 million reflects interest in Montréal’s life-sciences ecosystem—and suggests some investors are exploring opportunities beyond traditional hubs.

Sources: betakit.com