Simple Ventures Secures $15 Million to Fuel Canadian Entrepreneurship, Aims for 25 New Companies by 2030

Simple Ventures, a Canadian venture builder, recently announced the close of a $15 million funding round aimed at fostering homegrown companies and retaining Canadian talent. Shopify President Harley Finkelstein publicly endorsed the initiative, stating, > "Canada doesn’t need to just keep up. We need to lead. That’s why I’m all in on Simple Ventures. The mission is clear: fuel Canadian founders with the capital, talent, and network to build global companies right here at home." This significant funding positions Simple Ventures to substantially impact the nation's startup ecosystem.

The $15 million capital injection was secured from a diverse group of institutional and individual investors, including TD Innovation Partners, Sun Life, and Sobeys. Prominent founder-operators such as Wealthsimple's Michael Katchen, Knix's Joanna Griffiths, and Finkelstein himself also contributed to the round, with the collective market capitalization of backers exceeding $750 billion CAD. Simple Ventures operates as a venture studio, a model that builds companies from inception and provides seed capital and operational support, positioning itself as both builder and backer. The firm aims to raise up to $20 million total by year-end.

This initiative directly addresses a national concern regarding a shrinking entrepreneurial base, with Canada seeing 100,000 fewer entrepreneurs than two decades prior despite significant population growth. Rachel Zimmer, Co-Founder and CEO of Simple Ventures, issued a call to action, stating, > "We are coming together to issue a call to action – bring Canadian talent home. This funding will allow us to build great Canadian Headquartered companies." Michael Katchen, Co-Founder and Chair at Simple Ventures, added that Canada possesses "the talent and ambition to lead the world in innovation," emphasizing the need to build world-class companies domestically.

In its first 18 months, Simple Ventures has already launched three companies: Alma Care, focusing on postnatal care; Harvest, aiding small businesses with debt collection; and Zero Collective, a luxury handbag rental service. These ventures have collectively created 100 jobs across various sectors. Looking ahead, the venture builder has set an ambitious goal to launch 25 new Canadian-headquartered companies by 2030, reinforcing Canada's position in global innovation.