ScaleUP Ventures

What ScaleUP Ventures does

ScaleUP Ventures Inc. is a Toronto-based venture capital firm founded in 2016 that manages a single early-stage fund (Fund I) targeting Seed and Series A investments in high-growth Canadian technology companies. The firm was co-founded by Managing Partner Kevin Kimsa (former Founder, President and COO of Solect Technology Group, sold for $1.6B to Amdocs, and former MD at OMERS Ventures) alongside then-General Partner Kent Thexton, under the chairmanship of Nadir Mohamed (former CEO of Rogers Communications). The firm's stated model, branded "Capital + Connections," pairs equity capital with structured mentorship through a Leadership Council of more than 30 senior Canadian business leaders, entrepreneurs, and technology investors, and with engagement from a corporate LP base that includes RBC, TD, Scotiabank, Rogers, Bell, Telus, Magna, and Weston.

Fund I closed with over $100M CAD in committed capital—more than double its original $50M target—across three tranches anchored by the Province of Ontario ($25M) and the Province of British Columbia ($15.5M via the BC Tech Fund managed by Kensington Capital Partners). Initial cheque sizes range from $500,000 to $3M with follow-on capacity; the fund expects to invest in 25–30 companies and had deployed 54% of committed capital into 18 portfolio companies by the start of its third year. Notable portfolio holdings include Dooly, Coconut Software, Nylas, Rewind, Wysdom.ai, Fusebill, FundThrough, Naborly, Solink, Cinchy, and Sonder, several of which have subsequently raised Series B and Series C rounds led by tier-one investors such as Insight Partners, Tiger Global, and Spark Capital.

The firm operates from a Toronto headquarters (59 Hayden Street, Suite 320) and a Vancouver office opened in September 2017 to support Western Canada deal flow. Its revenue model is conventional VC fund management—annual management fees on committed capital plus carried interest on exits—with current reported headcount of 1–10 employees spanning Managing Partner, Partner/Managing Director Derek Spratt (Vancouver), Partner Matt Roberts, Venture Partners Peter Bormann and Christian Grunt, and Executive Assistant Jackie Manley. Following co-founder Kent Thexton's October 2018 departure to become President and CEO of Sierra Wireless, Kevin Kimsa has continued as the lead General Partner.

Name

ScaleUP Ventures

Legal name

ScaleUP Ventures Inc.

Website

https://suv.vc

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

1–10 employees

Short description

ScaleUP Ventures is a Toronto-based venture capital firm founded in 2016 that provides Seed and Series A funding plus executive mentorship through a Leadership Council to early-stage Canadian technology startups, backed by over $100M in committed Fund I capital from provincial governments and major Canadian corporate LPs.

Ownership category

akta.pro rank

Product category

Venture Capital

NAICS

Portfolio Management and Investment Advice (52394), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro industry

PRIMARYFSANAAAB

Early-Stage Venture Capital (Series A/B)

Financial & Insurance/Private Equity & Venture Capital/Venture Capital Firms

SECONDARYFSANAAAD

Sector-Focused Venture Capital (Vertical Specialists)

Financial & Insurance/Private Equity & Venture Capital/Venture Capital Firms

Keywords

• Venture capital fund
• Seed stage investing
• Series A investing
• Startup equity financing
• Technology startup funding

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Fund Management: ScaleUP Ventures operates as a venture capital fund generating returns through management fees and carried interest on successful portfolio company exits.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

ScaleUP Ventures is an early-stage venture capital fund manager that provides Seed and Series A equity capital of $500,000 to $3 million to Canadian technology companies that have begun to show traction in large, expanding markets. The fund pairs capital with structured mentorship and business development access through a Leadership Council of 30+ senior executives and a corporate Limited Partner base that includes major Canadian banks, telecoms, and industrials.

Product overview

ScaleUP Ventures is a venture capital firm that operates as a single fund offering. The fund provides a unique combination of capital investment and mentorship through its Leadership Council, connecting portfolio companies with seasoned Canadian business executives to help startups scale from local market success to global operations.

Differentiator

Problem solved

Functional benefit

Products and services

• ScaleUP Ventures Fund I ScaleUP Ventures Fund I is the firm's $106M early-stage venture capital fund providing 'Capital + Connections' to Seed and Series A Canadian technology companies with initial traction in large, expanding markets. Tickets of $500K–$3M are paired with mentorship from a Leadership Council of senior executives and corporate LP engagement.

Quantifiable outcome

• 54% of committed capital deployed at beginning of 3rd year of operations
• +2 more outcomes

Named customers9 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Ryerson University (now Toronto Metropolitan University)majorStrategic or Co-development PartnerFormer President Sheldon Levy co-founded ScaleUP Ventures vision with Nadir Mohamed. ScaleUP has partnership with Ryerson for talent and ecosystem development, with Christian Grunt instructing part-time at the university.

Scale indicators9 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Inovia Capital: Montreal-based venture capital firm investing in early-stage and growth-stage technology companies, with a focus on SaaS and B2B software. Directly comparable as a leading Canadian VC fund backing similar high-growth tech portfolio companies.
• Real Ventures: Montreal-based seed and Series A venture capital firm focused on Canadian tech startups. Directly comparable as an early-stage Canadian VC fund targeting similar seed/Series A opportunities in the Canadian tech ecosystem.
• Relay Ventures: Toronto-based early-stage venture capital firm focused on mobile and enterprise software. Comparable as a Canadian early-stage tech VC with a similar geographic focus and software/enterprise orientation.
• Panache Ventures: Montreal-based pre-seed and seed venture capital fund investing across Canada. Directly comparable as a Canadian seed-stage investor; Panache co-invested with ScaleUP in the Dooly.ai seed round.
• Pallasite Ventures: Toronto-based seed-stage venture capital fund investing in Canadian tech startups. Comparable as a Canadian early-stage investor; co-invested with ScaleUP in the Dooly.ai seed round.
• Kensington Capital Partners: Toronto-based venture capital and private equity manager that manages the BC Tech Fund. Comparable as a Canadian VC firm; Kensington managed the $15.5M BC Tech Fund investment into ScaleUP, demonstrating similar operating model.

Others

• Telus Ventures: Corporate venture arm of Telus, a ScaleUP LP. Comparable as a Canadian corporate VC with similar LP-corporate relationships, though operating as a strategic CVC rather than an independent fund manager.

Broad incumbents

• OMERS Ventures: One of Canada's largest institutional venture capital arms, investing across stages and sectors. Directly comparable as a Canadian VC firm; ScaleUP's co-founder Kent Thexton was previously Managing Director at OMERS Ventures before launching ScaleUP.
• BDC Capital: Canada's business development bank venture capital arm, investing across stages and sectors. Comparable as a large Canadian VC investor with similar government-backed structure, though with broader sector and stage mandate.
• Georgian Partners: Toronto-based growth equity firm focused on B2B software companies. Comparable as a major Canadian VC fund investing in similar software and SaaS portfolio companies, though focused on later-stage growth investments.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights6 records

Customer concentration

• Xx.com/suv_vc
• LinkedInlinkedin.com/company/scaleup-ventures-inc.

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

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

M&A

Investments45 records

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

Frequently asked questions about ScaleUP Ventures