Pender Ventures

What Pender Ventures does

Pender Ventures is the private venture capital arm of PenderFund Capital Management Ltd., an independent employee-owned investment firm headquartered in Vancouver, British Columbia. The firm invests in data-centric health tech and B2B technology companies at the inflection point between commercialization and scale, with a focus on Series A rounds in Canadian companies and flexibility to deploy across North America. Pender Ventures currently invests primarily through its Pender Technology Inflection Fund II LP (PTIF II) and operates from offices in Vancouver, Toronto, Montreal, and Calgary.

The firm positions itself as a hands-on, high-conviction investor that leads rounds and provides broad portfolio support including recruiting, business development, fundraising, product strategy, ESG integration, and active board participation. Recent disclosed deployments include leading Science&Humans' $10M Series A (health tech), SensorUp's growth round (industrial operational intelligence), and Engineered Intelligence (utility asset management), plus participation in veritree's $6.5M Series A. Notable portfolio companies span Jane App, DrugBank, Copperleaf, Clarius Mobile Health, Swift Medical, and Checkfront across vertical SaaS and health tech.

Pender Ventures generates revenue through management fees and carried interest on its venture funds, with the firm backed by PenderFund's broader public equities, fixed income, and liquid alternatives platform that enhances network depth and cross-strategy insight. The firm also operates ecosystem platforms including the annual HealthTech Ignite conference and GPFest (a VC LP event co-hosted with Startupfest), and was selected as a recipient under the federal Venture Capital Catalyst Initiative's Inclusive Growth Stream in 2024. The team is small (approximately 10 people) and is led by Managing Partner Maria Pacella alongside Principal Meryeme Lahmami, Head of People Strategy Lynn Frazer, Partner Cheri Corbett, and Venture Partners Judi Hess and Lexi Kaplin. Revenue is not publicly disclosed.

Name

Pender Ventures

Legal name

Pender Private Equity Fund Management Inc.

Website

https://penderventures.com

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

Pender Ventures is the venture capital arm of PenderFund Capital Management, investing Series A capital in Canadian health tech and B2B software companies at the commercialization-to-scale inflection point across offices in Vancouver, Toronto, Montreal, and Calgary.

Ownership category

akta.pro rank

Product category

Venture Capital

NAICS

Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Captive CVC Fund (Dedicated corporate fund structure) (FSANAHAB)

akta.pro secondary industry

Corporate Strategic Partnership & Ecosystem Investment Arms (FSANAHAF)

Keywords

• Venture capital
• Health tech investing
• B2b software investing
• Series a funding
• Startup investment

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Venture Capital Fund Management: Pender Ventures generates returns through successful exits of portfolio companies. The firm manages private venture funds through Pender Technology Inflection Fund II (PTIF II) and is backed by PenderFund Capital Management.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels6 records

Core offering

Pender Ventures is a venture capital firm that invests equity capital from its Pender Technology Inflection Fund II (PTIF II) into health tech and B2B software companies at the inflection point between commercialization and scale. The firm primarily leads Series A rounds in Canada (with flexibility across North America) and provides hands-on operational support including recruiting, business development, fundraising, product strategy, ESG integration, and board participation. Returns are generated through successful exits of portfolio companies.

Product overview

Pender Ventures is a venture capital firm operating as a single unified investment platform rather than a multi-product architecture. The firm manages the Pender Technology Inflection Fund II (PTIF II) as its primary investment vehicle, providing hands-on investment and portfolio support services to health tech and B2B software companies. The firm also organizes the annual HealthTech Ignite conference as a platform for ecosystem building. Pender Ventures does not offer discrete software products; rather, its offering consists of investment capital, strategic support, and community events for its portfolio companies.

Differentiator

Problem solved

Functional benefit

Brands

• HealthTech Ignite: Annual conference focused on scaling Canadian health tech companies
• Pender Technology Inflection Fund II LP (PTIF II)

Products and services

• Pender Technology Inflection Fund II (PTIF II) Venture capital fund that deploys equity capital into health tech and B2B software companies, primarily leading Series A rounds with flexibility to invest across stages and across North America. Backed by PenderFund Capital Management and includes a VCCI Inclusive Growth Stream allocation.
• Portfolio Company Support Services Hands-on company-building support for portfolio companies covering recruiting, business development, fundraising, product strategy, ESG integration, exit planning, and active board participation, delivered by Pender Ventures' partners and dedicated team members.

Named customers1 record

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core and minor.

• StartupfestcoreGTM or Marketing PartnerPender Ventures partners with Startupfest annually to present GPFest, a half-day content event for venture capital investors covering the three phases of venture capital lifecycle: fundraising, investing, and exits.
• HealthTech Ignite SponsorsminorGTM or Marketing PartnerAnnual HealthTech Ignite conference is supported by sponsors including Nimbus Synergies, Fasken, HealWellAI, AlleyCorp Nord, Osler, Well Health, KPMG, CIBC, and National Bank. These sponsors help promote and support the health tech ecosystem event.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Inovia Capital: Inovia Capital is a Canadian Series A and growth-stage venture firm focused on B2B SaaS, with similar thesis on commercial inflection-point investing. Directly comparable in geography, stage focus, and sector emphasis.
• Version One Ventures: Version One Ventures is a Canadian seed and Series A investor with a thesis on mission-driven software companies, including notable health-tech exposure. Comparable stage, geography, and impact orientation.
• Real Ventures: Real Ventures is a leading Canadian early-stage VC firm with a thesis on founder-led companies across SaaS, health, and deep tech. Direct peer on geography, stage, and platform-building approach.
• Whitecap Ventures: Whitecap Ventures is a Canadian early-stage VC firm investing in B2B SaaS and health tech at the commercialization stage, with multi-city presence. Highly comparable thesis and geography.
• Relay Ventures: Relay Ventures is a Canadian early-stage VC firm investing in B2B SaaS and fintech. Comparable Canadian geography and software-focused thesis.
• Radical Ventures: Radical Ventures is a Toronto-based AI-focused venture firm. Comparable Canadian Series A stage and operator-led thesis, though with a stronger AI specialization.
• Lerer Hippeau: Lerer Hippeau is a New York-based early-stage VC firm investing in B2B SaaS and consumer. Similar Series A stage focus and hands-on platform thesis, though US-based and not a direct geographic competitor.

Broad incumbents

• BDC Capital: BDC Capital is Canada's largest VC investor and the development bank of Canada, with multiple funds across stages and sectors (including cleantech where Cheri Corbett previously led). Much larger scale and broader mandate than Pender.
• OMERS Ventures: OMERS Ventures is the venture arm of the Ontario municipal employees pension plan, investing broadly in Canadian and US tech. Much larger AUM and broader mandate than Pender Ventures.

Regional players

• Anges Québec: Anges Québec is a Quebec-focused angel and VC network. Comparable in Canadian geography but with stronger Quebec regional focus, particularly relevant given Cheri Corbett's mandate to source deals in Quebec.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/pender-ventures
• Xx.com/penderventures

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments10 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Pender Ventures