Investors and founders rally behind Simple Ventures to grow local talent, strengthen the economy, and encourage Canadians abroad to come home to build.
TORONTO–(BUSINESS WIRE)–Simple Ventures, a Canadian venture builder creating the next generation of great Canadian companies, today announced the close of $15 million in funding, with notable participation from TD Innovation Partners (TDIP), a division of The Toronto-Dominion Bank, Sun Life, Sobeys, founder-operators including Mike Katchen (Wealthsimple), Harley Finkelstein (Shopify), Joanna Griffiths (Knix), Joe Canavan, Sam Duboc and other prolific Canadian angel investors and family offices.
The funding will be used to accelerate new company creation in Canada, building ventures that otherwise wouldn’t exist, and encouraging more Canadians abroad to come home and build.
“We are coming together to issue a call to action – bring Canadian talent home,” said Rachel Zimmer, exited founder and Co-Founder and CEO of Simple Ventures. “This funding will allow us to build great Canadian Headquartered companies. Now is a crucial time to join our mission to put fire in the Canadian engine.”
Canada still has 100,000 fewer entrepreneurs than it did 20 years ago1, despite the population increasing by over 10 million during the same period. At the same time, nearly one-third of Canadian immigrant entrepreneurs move to the U.S.2, citing limited support for scaling businesses at home. Simple Ventures tackles this problem by sourcing new company ideas, validating them, and pairing them with Canadian leaders to co-create ventures. Simple Ventures gives investors the opportunity to generate strong returns by backing Canadian companies, with the added benefit of creating positive social and patriotic impact. For founders, the venture builder helps build new companies while de-risking the startup journey through its network and community.
Simple Ventures has already brought three pioneering businesses to market:
- Alma Care is redefining maternal health with its innovative postnatal care model that ensures new parents have access to the support they need.
- Harvest is transforming how Canadian SMBs collect on overdue invoices, bringing speed, simplicity, and certainty to accounts receivable.
- Zero Collective is a luxury handbag rental membership offering Canadians the opportunity to access premium fashion in a sustainable and affordable way.
In just 18 months, Simple Ventures has created 100 jobs across industries, including executive positions, engineering roles, and care providers for its portfolio companies. The venture builder aims to launch 25 new, Canadian Headquartered companies by 2030.
Unlike traditional VCs that invest only in existing startups, Simple Ventures builds companies from the ground up and funds them to scale. Simple Ventures is backed by leaders and founders whose companies represent a combined market capitalization of over $750 billion CAD.
“I invested in Simple Ventures because it’s tackling the single biggest gap in our economy, the lack of new company creation,” said Joe Canavan, a venture capital investor, and veteran entrepreneur who has founded, led and sold multi-billion-dollar firms, including Synergy Asset Management, GT Global and Assante Wealth Management. “By bringing Canadian talent together and encouraging those abroad to come back and build, Simple Ventures is giving our next generation of founders the resources and support they need to succeed.”
“Canada has the talent and ambition to lead the world in innovation. But that only happens if we commit to building world-class companies here,” said Mike Katchen, Co-Founder and Chair at Simple Ventures. “Every great Canadian company we can come together and build raises the bar for future generations.”
To learn more about Simple Ventures’ mission, visit www.simpleventures.ca.
About Simple Ventures
Simple Ventures is a Canadian venture builder dedicated to building the next generation of great Canadian-founded companies.
2https://www150.statcan.gc.ca/n1/pub/91f0015m/91f0015m2024002-eng.htm
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