Ripple Ventures raises $10 mln for debut early-stage tech fund


Photo courtesy of Matt Cohen/LinkedIn

Toronto-based early-stage venture capital firm Ripple Ventures has closed its inaugural fund, raising $10 million in committed capital.

Ripple Ventures Fund I was backed by unidentified limited partners in Canada and the United States.

Launched this year by Managing Partner Matt Cohen, who will run Fund I alongside General Partner Michael Garbe, Ripple also opened an incubator space called the Tank.

Fund I’s first investments include Toronto telemedicine platform OnCall Health and Toronto construction technology provider Tread Technologies.

The fund will invest in other Canadian and U.S. companies in enterprise software, healthcare software, industrial services technology, real estate technology, media technology and blockchain sectors.

Photo: Matt Cohen, founder and managing partner of Ripple Ventures.

PRESS RELEASE

Ripple Ventures Closes $10m Venture Fund for Early-Stage Technology Investments & Opens Incubator Space for Portfolio Companies

INITIAL INVESTMENTS INCLUDE ONCALL HEALTH and TREAD TECHNOLOGIES

TORONTO, Sept. 12, 2018 /CNW/ – Ripple Ventures, an early-stage venture capital firm today announced the closing of its inaugural Fund with a capital commitment of $10 million, and the opening of its new incubator space, the Tank, in Toronto, for portfolio companies. With previous investments and successful returns on Turnstyle Solutions and Tokyo Smoke, this first Fund will include investments in OnCall Health and Tread Technologies.

Employing an ‘Operator First, Investor Second’ approach to investments, the Fund team brings a proven track record of success in M&A, finance, early-stage investing, and operating and scaling businesses.

“Ripple Ventures was launched this year with the belief that early-stage investments should be inclusive of ancillary services, beyond a typical capital injection, which is why we are taking an Operator First, Investor Second approach to our Fund and opening an incubator for our portfolio companies to work from,” said Matt Cohen, Founder and Managing Partner, Ripple Ventures. “From accounting to sales to recruiting support, Ripple Ventures is committed to strengthening the connection between investors and early-stage startups with an expansive advisory team of industry veterans and Entrepreneurs in Residence (EIR) to assist their companies in navigating everyday problems.”

The Fund is managed by Matt Cohen and Michael Garbe with a strong LP base and co-investor network across Canada and the United States. Ripple Ventures’ incubator, the Tank, will allow portfolio companies to work with like-minded entrepreneurs in a collaborative environment in the heart of downtown Toronto. The Fund will focus on early growth companies in Toronto, Waterloo, Montreal and Boston, primarily in areas of:

Enterprise Software;
Healthcare Software;
Industrial Services Technology;
Real Estate Technology;
Media Technologies; and
Enterprise Blockchain.

Ripple Ventures Entrepreneurs in Residence include Jay Rosenzweig, Oz Nazilli, Elisha Gray, Adam Levine and Mark Halpren. The Tank will open on October 1st, 2018, at 410 Adelaide Street West, Toronto.

About Ripple Ventures
Ripple Ventures is an early-stage venture capital firm with headquarters in Toronto, Canada. Founded and co-managed by operator-turned-investor Matt Cohen (Managing Partner), and former CEO of Accelerated Connections, Michael Garbe (General Partner), Ripple employs an Operator First, Investor Second model of funding, remaining actively involved with all of their investments. For more information or to apply for funding, visit rippleventures.ca.

For further information: Livy Jacobs, 416-888-4695, [email protected]

Take your pick!

  • Buyouts delivers exclusive news and analysis about private equity deals, fundraising, top-quartile managers and more. Get your FREE trial or subscribe now.
  • VC Journal provides exclusive news and analysis about venture capital deals, fundraising, top-quartile investors and more. Get your FREE trial or subscribe now.