Jeremy Greven

Such a great blog post which I suggest every founder read. So many golden nuggets in here. But one that stands out: What are some qualities that you see in the most successful founders? Well, I love smart people, with high IQs, and high EQs, that’s great. But, of the founders that I see, the highest correlation with success is with their grit quotient. They’re not necessarily the smartest people in the world, but their grit and determination are unbelievable. They never give up and always find a way to blast through any obstacle they face. It’s the mentality of “succeed or die” – it’s that kind of determination that wins. #gritcotient #grit #founder #highperformancemindset

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In a world of rapid change and complexity, founders are facing increasingly daunting challenges on their entrepreneurial journey. Recognizing the need for a fresh approach, we’re thrilled to announce the launch of the #RealFellowship, a novel program designed to connect our portfolio founders with experienced entrepreneurs - whom we call Fellows - that intimately understand the operational, mental, and emotional challenges inherent in the founder journey. The program aims: 🌟 To provide our portfolio founders with monthly support from human-focused entrepreneurial leaders (fellows); 💫 To nurture a community of leaders dedicated to personal growth by hosting a series of annual leadership development retreats lead by world-class facilitators. The Real Fellowship is part of an increasingly expanding founder education and development approach built around the twin pillars of #SelfAwareness and #SystemAwareness. A term we appreciate to describe this type of development is “#RegenerativeEntrepreneurship”. 👇👇👇 Dive into our newest article covering the Real Fellowship program, our inaugural Fellows retreat held in February, the event's discussions, and our reflections on regenerative entrepreneurship. https://lnkd.in/gdfm82Vq

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It seems to me that the question should be ... can incubators identify/create/support/augment exceptional companies - who cares if they are just good at supporting more average or worse yet underperforming companies - We should be focused on the exceptional outliers and the encouraging part was the note "The highest revenue-generating startups were the exception, posting slightly more than non-BAI firms, but only in 2020" but .... unfortunately those positive revenue signals might have zero to do with the incubators and everything to do with access to a capital and a willingness/ability in 2020 to spend it on revenue capital at any cost. The other problem with this kind of a study is revenue is a MEANINGLESS metric for biotech companies. How the authors measured success/impact in this segment of the market would be of interest as I suspect access to wet labs, shared equipment and facilities, and in some cases corporate strategics should be highly accretive to these kinds of companies.

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As a founder, have you ever been curious about this whole angel investing thing? This week's findfunding.vc spotlight is on an investor who's an expert in it you simply have to know: Matt Wilson, MBA from Allied Venture Partners. He: 🇨🇦 Is Calgary based 😇 Manages one of Canada's largest angle investor syndicates (now at 1,800+ members!) 🏒 Worked as a professional ice hockey referee, which he says shares remarkable similarities with investing Amongst founders, Matt Wilson, is known for bringing empathy and perspective as a former founder himself. Aside from financial support, his goal is to be the 'right' investor - one that aligns with a founder's vision, shares his network, and provides strategic insights when asked. ✉️ Make sure to pitch him, invest, scout, advise and more at https://linktr.ee/alliedvc For more, check out our funder spotlight card below along with Allied Venture Partners' profile on findfunding.vc (link in comments).

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Below is a good summary and context for the Q3 quarterly report released by the CVCA. On the surface, it seems like it was a good quarter for venture investment in Canadá. But a quick look under the surface paints a potentially very different picture: - the 130 deals closed in Q3 matches the lows during COVID in 2020 - the $2,651MM in deal value appears fairly robust other than the heady days of 2021. But it includes both the Clio deal of $1,240MM and the Cohere deal of $616MM leaving the remaining 128 deals totalling $795MM, matching the levels last seen during COVID in 2020 - the vast majority of the source of the capital invested in Q3 are from US or other foreign sources of capital - early stage investments continue their trend of performing poorly this year What does this all mean? Not really sure yet. It certainly was not a good quarter of activity but it’s too early to call this a trend. But is it a leading indicator that deal activity will continue to be constrained? Is there evidence of a lack of Canadian source capital required to invest in startups, and in particular, early stage opportunities. When the Federal government decided to increase capital gains taxes, many people in the innovation community sounded the alarm bells. The fear was that such an increase will further take the air out of the sails of funding startups in Canadá. While it is still too early to conclude the impact of such a move, it is clear the timing of this decision is very unfortunate because there is a clear trend that the activity in venture from Canadian sources of capital is slowing down materially.

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Some interesting thoughts in the inexorable march forward of each AI generation, but also the limits to where AI really shines. In terms of repurposing exisitng content, there seem to be some real value adds here - but exactly how useful this 'professional' podcast really is remains to be seen.

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Like in a VC round, finding a lead investor in an Angel round is crucial. The lead does not necessarily need to invest the most. What matters is that they endorse you to other investors. A lead can be a subject matter expert, a well-known Super Angel with a track record, or just someone who believes in you. They will write the first check, did their diligence on your company, and are willing to share their findings with others. Most importantly, a lead believes in the potential of the company and will be more keen to take risks and grow faster. Read a great story about the lead Angel in Shopify, John Phillips: https://lnkd.in/gkCshb9F #angels #leads #funding

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Data siloes stemming from incompatible ERPs prevent the real-time visibility and controls companies require to optimize production across multiple locations and departments. As industry migrates towards more data-driven decisions, finance departments are now being asked to reconcile data-informed operational decisions with financial outcomes tied to the entire product life cycle. Maxa solves this acute pain point by effortlessly blending multiple data systems as one, enabling automated, enterprise-wide, insight generation for decision-makers. Raphael Steinman and Alexis C. Steinman are building a world-class team and roster of partners. BDC Capital’s Industrial Innovation Venture Fund is thrilled to support Maxa towards their goal of becoming a global leader in ERP insights automation. Onwards! 🚀 Aditya A., Joseph Regan, Jim Texier

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It was great to speak with the Logic earlier this week and share Tidal Venture Partners perspective on the subject of fund domiciling strategy.  It may sound like we’re in the weeds on this topic, but the question of where to domicile is a growing conversation and consideration for many Canadian fund managers with big long-term implications for our innovation economy.  The challenge of Canadian companies remaining Canadian owned will only become more acute if more Canadian funds start to domicile in other jurisdictions.

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Spotlight: Kathryn Lockhart, Propel CEO on Atlantic Canada’s tech sector For over two decades, Propel has been part of the growing tech startup ecosystem in Atlantic Canada. About four years ago, Kathryn Lockhart took over as the CEO of the accelerator. She’s spearheaded its shift to a virtual continuous-intake model and pushed forth with what she terms as the ‘baby unicorn’ movement. The Tech Factor caught up with her in this exclusive tete-a-tete. Recently listed among Atlantic Canada’s 25 most powerful women in business by Atlantic Business Magazine, Kathryn Lockhart has spent most of her life in the region. She has a Bachelor of Philosophy in Interdisciplinary Leadership from Renaissance College, University of New Brunswick, and an MBA from Harvard Business School. She highlighted – “Atlantic Canada is a kind, friendly, and welcoming place, but it’s also risk-averse. Founders here need to be brave and comfortable with ambiguity and risk-taking. The challenge is overcoming this risk-averse mentality, especially when it comes to funding. Moreover, founders often need to travel, which can be expensive, to connect with customers, partners, and investors outside the region." Several of Propel's past founder graduates have recommended the program, including Christy Barsalou (Silvestri) of QuickFacts, Imad Boumahdi of PayTic and Joel Muise of Tranquility Online. Read all of Kathryn's thoughts on Propel & Atlantic Canada's tech sector in the link. #propel #accelerator #atlanticcanada cc: Tara Wickwire, Angela Hodgson

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Less Canadian VC money doesn’t mean the money will just go to the best startups. Because Canadian VCs are rarely the best or preferred source. It does mean there even more reasons for Canadian tech firms to pursue US capital (and frankly it’s better capital for a number of reasons for many firms). That means Canada loses out on startup control, exit benefits and tech. We need new national incentives for angel, seed and series A investment in Canada by Canadians. But given how anti-investment our current approach is, I don’t think we’ll see it anytime soon.

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The Peak recently wrote a timely article on the changing Canadian seed funding landscape and Graphite Ventures' Aaron Bast notes a trend toward a renewed focus on capital efficiency and how companies are adjusting to smaller rounds. It's definitely getting more competitive for companies raising but we're still seeing solid founders building growth companies while being mindful of costs. #canadianfounders #startups #seedfunding https://lnkd.in/gkz856tz

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The 2024 Federal Budget rolled out by the Government of Canada yesterday was disappointing, and needs to be reconsidered if we want Canada’s innovation ecosystem to thrive. News of the budget dropped in the middle of the InnovateWest conference in Vancouver, where investors, entrepreneurs, and other stakeholders in the innovation ecosystem were gathered to discuss how we could make Canada more innovative and how we can foster more entrepreneurship in Canada. Details of the innovation-averse decisions embedded in the federal budget spread through the conference like wildfire, sucking the oxygen out of the room. The federal government’s move to increase the capital gains inclusion rate from 50% to 66% punishes entrepreneurs and, importantly, employees of the startups and innovators that need to power the future of the Canadian economy. This tax increase makes Canada even less competitive relative to the US, which offers a much lower taxation rate of 20% on long term capital gains, alongside the QSBS tax exemption, which allows entrepreneurs to avoid 100% of capital gains in startups. In a post-covid world where companies can be founded anywhere more easily than ever before, Canada needs to be deliberately designing an environment that fosters innovation and entrepreneurship. Canada’s recent policy changes do the opposite. The government positioned this as a tax increase on the wealthy, but this is not true. It is a tax increase for anyone that takes risks in the Canadian economy, not only founders but the hundreds of thousands of employees of innovative companies in Canada. People take jobs at these companies often for lower salaries than they would at “safer” companies in exchange for equity, for stock options that have the promise of delivering capital gains (and an associated lower tax rate) as upside. This asymmetric reward (risk + capital investment = jobs and massive growth, when it works!) is what powers the economics of the innovation economy, and is ultimately what incentivizes Canadians to take risks. These asymmetric rewards benefit the broader economy, and we should be doing everything we can to encourage more people to innovate, to take risks, to take a swing at creating Canada’s next Shopify or Clio. Instead, Canada’s recent changes to its fiscal policy will further chill an already cooling innovation economy. Canada has 100,000 fewer entrepreneurs than it did in the year 2000 and a productivity crisis that the Bank of Canada itself describes as “an emergency.” We need entrepreneurship and innovation in Canada more than ever before, and Canada has the right to be the best and most innovative country in the world, with an incredible talent base, strong education system, and best quality of life standards. We deserve a fiscal policy that supports, rather than hinders, that opportunity.

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Despite a growing and robust Canadian tech ecosystem, the country has minted fewer than 30 unicorns in the past decade compared to the US's 700. Should Canadian VCs look to invest internationally? If so, what's the optimal approach to accessing global opportunities, navigating financial and cultural differences, and providing meaningful value? Alternatively, should they focus on strengthening the Canadian tech ecosystem? Is the lack of unicorns primarily a cultural, structural, or financial issue, or a combination? Can VCs play a role in addressing these challenges? Happy to participate in the Canadian Venture Capital & Private Equity Association (CVCA) webinar with Mana Hosseini, JD/MBA and Kim Furlong addressing these topics. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Registration link in the comments #venturecapital #startups #investing #canada

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Navigating funding has never been more challenging for startups, but it's also brimming with opportunities for those ready to adapt. Our very own Chief EiR Alex Thibault speaks to this in his latest article about what Canadian startups should expect. In summary: ▶ Startups are waiting longer to raise their first round, leading to larger initial investments. ▶ Seed rounds have nearly quadrupled in the last decade. ▶ The average time between a startup's first and second raise remains steady at 2 years. ▶ The ratio of 'series A and beyond' rounds to 'seed' rounds has declined. Read Alex's full piece here: https://lnkd.in/e-jCJ-BU

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𝙏𝙝𝙚 𝙂𝙧𝙚𝙖𝙩𝙚𝙨𝙩 𝙏𝙝𝙧𝙚𝙖𝙩 𝙩𝙤 𝙎𝙩𝙖𝙧𝙩𝙪𝙥𝙨 𝙏𝙤𝙙𝙖𝙮 𝙞𝙨 𝙋𝙡𝙖𝙮𝙞𝙣𝙜 𝙞𝙩 𝙎𝙖𝙛𝙚 💭 Maria Pacella of Pender Ventures warns that risk aversion could hinder Canada's SaaS startups. While cutting costs is important, Pacella stresses that startups must also focus on long-term growth to thrive in today’s fast-changing market. Playing it safe might actually be the biggest risk of all! What do you think—should startups take more risks, or is it wiser to play it safe? Let us know in the comments! #SaaS #Startups #GrowthMindset #RiskManagement #TechIndustry #Entrepreneurship #Innovation #CanadaStartups #Tech #Technology

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Brice Scheschuk, CPA, CA, a co-founder of WIND Mobile ($1.6B exit) and MindFrame Connect, came to talk to our #founders about entrepreneurial, personal, and organizational #resilience.  Insights every founder should be thinking about: ▪️ You don’t control what happens, you control how you respond. ▪️ Success is not final. Failure is not fatal. It is the courage to continue that counts. ▪️ Entrepreneurial obsession is real and necessary. There is a need to counter-balance the obsession with resilience and anti-fragility techniques. ▪️ Failure is shunned everywhere, except the valley.  We need to look at the world the opposite way; embracing failure and the learnings that come with it. ▪️ Build a group of mentors that you can use in periods of stress and growth.  Build the network before hand, not during times of stress. ▪️ In team meetings, you want the most junior, introverted person on your team to feel comfortable speaking openly at their own cadence. ▪️ Scale to Everest by Erik Severinghaus is a great book to help founders build mental resilience.  #tech  #ZeroToGreatness

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How to invest in a Venture Fund? Calling all Limited Partners (LPs) and Family Offices! 📢 Are you looking to dive deeper into the world of venture capital? Want to understand how to invest in venture funds? This is a fantastic opportunity for you! We are excited to invite you to Venture Summit: Toronto Collision, where industry leaders and experts will share insights & strategies in venture capital investing. Event Highlights: 🔹 Engaging Panels: Gain practical knowledge on structuring investments, managing portfolios, and navigating the VC landscape. 🔹 Networking Opportunities: Connect with like-minded investors, LPs, family offices, and founders to build valuable relationships. 🔹 Meet Fund Managers Starting their next Fund: meet emerging managers and learn about their experience, thesis, strategy, expertise and passion for venture investing. 🔹 Startup Spotlight: Listen to shortlisted startup pitches & and connect with founders throughout the event. Date: Thursday, June 20th Register: https://lnkd.in/garRw37p Message me for a free investor ticket if you are interested in attending (limited quantity)! Don’t miss out on this exclusive chance to enhance your investment strategy and expand your network. #VentureSummit #TorontoCollision #VentureCapital #Investing #LPs #FamilyOffices #Networking #Innovation #InvestmentStrategy #VC #startups #fundraising #deals #founders #investors #limitedpartners #innovation #diversification

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The Nmbr Company announced CAD $7.6 million in seed funding to elevate the payroll ecosystem for businesses nationwide. Nmbr offers companies the ability to embed Canadian payroll within their product in days or weeks. https://lnkd.in/gSGByavt #TechNews #StayInformed #StayAhead #dailydose #followus #staytuned #stayconnected #technews #technology #trending #trendingnow #trendingnews #explore #explorepage #techdogs

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