New Canada-Silicon Valley Venture Fund Combines Strengths of Both
TORONTO & PALO ALTO, Calif. — Raiven Capital, a new cross-border early-stage venture capital firm, today announced their first close.
Despite last year’s tumult, the globally focused fund, which invests in early-stage Series A tech companies, exceeded its first closing target of $25M USD. With a final target of $100M USD, Raiven is one of only a handful of first-time Canadian funds and amongst 30 funds in the US that had a first closing during 2020, according to Pitchbook.
Raiven Capital embraces a unique investment thesis – leveraging Canada’s innovation ecosystem and marrying it with Silicon Valley’s focus on growth and exits, exponentially increasing returns.
“Raiven believes Canada’s robust infrastructure, diverse world-class talent and lower costs give our companies a better chance to scale. Our startups benefit from longer runways, substantial public dollars, and a rich environment to thrive in,” said Paul Dugsin, Founding Partner, based in Toronto.
Supreet Manchanda, Founding Partner, based in Silicon Valley, added: “Our partners bring deep operational experience, having each run companies globally at every life-cycle stage, including start-ups, SMEs, and large corporations. We have playbooks of best practices built over decades which will accelerate the growth of our portfolio companies.”