True North Fund Completes Second Close; Chris Albinson to Become Full-Time Managing Partner

Chris Albinson steps down from his role as Communitech CEO at year-end, while True North Fund accelerates on investments in its first fund.

KITCHENER, Ontario--(BUSINESS WIRE)--True North Fund is pleased to announce that Chris Albinson will be completing his term as CEO of Communitech, following three-and-a-half years of passionate advocacy for tech startup founders across Canada. This transition will enable Chris to devote more time to his role as co-Managing Partner of the True North Fund as of December 21st, 2024, as it scales up its investment cadence and finishes raising funds for True North Fund I.

“Supporting Canadian founders' ambition has been my life's work, and leading Communitech has been the opportunity of a lifetime. I am excited to continue this work with the True North community filling a critical role to support founders at the highest level of ambition,” said Albinson.

“The entire True North community is excited to now have Chris with us 110% as we work to support Canada’s highest-performing companies. The timing is excellent and we will benefit from his operational and investment experience,” said Tom Jenkins, Chairman of OpenText & Chair of True North Fund’s LPAC.

The True North Fund has recently completed its second close with nearly $100 million in total commitments, and has also completed its first three portfolio investments into True North companies, providing crucial secondary liquidity to founders and early employees in the Canadian technology ecosystem. The True North Fund is excited to continue supporting Canadian founders performing in the top global 1% of venture-backed startups.

About True North Fund
True North Fund is a growth stage venture capital company dedicated to supporting Canadian founders performing in the top 1% of venture-backed tech firms globally. With an experienced team based across Canada and Silicon Valley, we focus on a curated pipeline of top companies, investing primarily through a proven track record in secondaries. By providing crucial liquidity and strategic growth capital to founders, employees and early investors, the True North Fund fulfills an important role in the Canadian technology landscape.