Case Study

Fresco Capital: Early Investment in a Global Entrepreneur

Growing up in Vancouver, a city renowned for its diversity, Tytus Michalski was exposed to various cultural perspectives throughout his life. With his curiosity and ability to connect with people from various backgrounds, his upbringing has always shaped his worldview.

Tytus started his career in the financial sector, working in London, Tokyo, and Hong Kong. Drawing upon his own experiences, he wanted to support exceptional entrepreneurs by offering more than just financial backing. Tytus has always sought to provide hands-on guidance and mentorship to entrepreneurs, while also helping to build meaningful connections within his network for exponential outcomes. This passion led to the founding of Fresco Capital in 2012.

Thesis Driven Investments at the Intersection of People and Technology

Combining complementary skills, the Fresco Capital team of Stephen Forte, Heyu Huang, Furuzonfar Zehni, and Tytus Michalski quickly gained recognition for its unconventional approach to venture capital as a distributed team, holding all of Fresco’s investment meetings virtually. This mirrors the team’s investment philosophy and thesis, centered around actively leveraging technology to shape the future of living and working.

Being early to this flexible approach has allowed Fresco to apply a global perspective on talent, market opportunities, and other critical factors allowing for a comprehensive understanding of pertinent issues for both its existing portfolio companies and potential new investment prospects at a truly global scale.

An important aspect that has set Fresco Capital apart has been its dedication to making true early and seed stage investments in companies that tackle some of the most complex challenges related to talent, healthcare, and sustainability.

Gallant: Recognizing Synergy with Fresco Capital

Owing to Gallant's deep connections in Asia, coupled with consistent engagement in the region's talent pool and innovation sector through its own investment initiatives, Gallant quickly distinguished competitive nuances in Tytus' early vision for investing in global early-stage / seed startups—insights that others might have overlooked. This vision helped Fresco play a pivotal role in fostering the development of an authentic global tech ecosystem.

Just as Fresco Capital took a genuine interest in founders and their personal narratives, Gallant recognized the gravity of Tytus' story and his unwavering, forward-looking vision of the future. 

Gallant emerged as one of the inaugural fund investors in Fresco Capital, solidifying a lasting partnership, actively participating in subsequent funds and investments.

Creating Global Connections

Fresco Capital's investment thesis featuring this global perspective has been proven correct, with its portfolio of companies now spanning over 12 countries, representing a total market value exceeding US$5 billion. Its early investments include companies such as Pipedrive, a globally recognized CRM platform acquired by Vista Equity Partners for US$1.5 billion, and Edpuzzle, the leading provider of interactive learning videos for K-12 schools supporting more than 2.6 million teachers in 190 countries. 

A Promising Partnership

Currently on its fourth fund, Fresco Capital has invested in nearly 80 startups, with 16 significant exits as of 2023. Early stage investments from recent years include Thalamus, a digital health company transforming the careers of medical students, and CoverGo, a comprehensive platform for insurance companies to accelerate product development.

Gallant remains committed to collaborating with Fresco Capital, diligently sourcing, building, and scaling the world's most promising technology solutions to address our society’s most critical challenges in the future of talent, healthcare, and sustainability. 

Together, Gallant and Fresco Capital are forging a path toward a brighter future by investing in technology that supports people and society.

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