Here at Techcouver we report daily on news and insight surrounding the technology ecosystems of Vancouver and across British Columbia.
As Vancouver’s technology publication of record, we have covered hundreds of startups, including many rounds of venture capital raised. Recent examples include those of construction-tech startup Nexii Building Solutions, SaNOtize R&D, and online motor vehicle marketplace Canada Drives.
Raising capital is typically noteworthy—it signals confidence from investors and the anticipation of growth ahead. Will the funding be used for new hires? Will the company expand its offices, or perhaps enter new markets?
The forward momentum of venture capital is an important driving force behind the vibrancy we enjoy across Canada’s technology startup ecosystem—a robust and healthy collection of tech hubs that remain active even during the current downturn. A VC round often supports the critical bridge between one stage of a company and its next phase of growth.
Below we highlight a handful of the dozens of venture capital firms in BC.
Little Green Bamboo Capital is a humble Vancouver firm with a forward-looking portfolio and firmly founded ethos.
Conceived in Vancouver in 2019 and operating quietly since 2020, LGB Capital currently operates a $20 million rolling fund seeking to provide both financial and human capital to founders during the current slowing financial environment.
Since the summer of 2012, V1 has grown from a single fund into an entire franchise spanning six different funds, several dozen companies, and a quarter billion dollars in assets under management—thanks to the wisdom of Wertz and his crew.
Early-stage investment fund Rhino Ventures was recognized earlier this year by Osler in the national law firm’s inaugural tech financings report for its “significant funding opportunities [and] incredible strategic support” to entrepreneurs. The fund is known for investments in Vancouver’s Thinkific, Article, Aspect Biosystems, Curatio, Fatigue Science, FISPAN, Klue, and Side Door.
Rhino Ventures was founded in 2015 and originally known as the Vancouver Founder Fund. It was launched by startup cofounders Dan Eisenhardt and Fraser Hall after they sold Recon Instruments to Intel for $175 million.
In 2017, Hootsuite cofounder Ryan Holmes launched League of Innovators because there was a shortage of mentorship for young entrepreneurs. In 2021 Holmes teamed up with fellow Vancouver angel Manny Padda of New Avenue Capital to unveil a $20 million venture fund called LOI Venture to address a shortage of capital for founders under 30.
After recruiting a solid team for the fund, investments began this year.
Vancouver-based financial technology success story Mogo launched a venture arm this year to manage investments in strategic partners and companies that support the company’s ecosystem.
Mogo Ventures has investments in several crypto and Web3 platforms including NFT Trader and Tetra Trust, as well as a 39% stake in Coinsquare, one of Canada’s crypto exchanges. Coinsquare acts as the trading platform for MogoCrypto, a service Mogo launched in 2018 to allow members a convenient way to buy and sell bitcoin.