Simple Ventures, a venture builder based in Canada, has announced a $15 million funding round aimed at accelerating the creation of new companies across the country. This funding is sourced from a combination of institutional investors and prominent Canadian entrepreneurs. Among the backers are TD Innovation Partners, a division of The Toronto-Dominion Bank, along with Sun Life, Sobeys, and several founder-operators, including Mike Katchen from Wealthsimple, Harley Finkelstein from Shopify, Joanna Griffiths from Knix, Joe Canavan, Sam Duboc, and other angel investors and family offices.
The goal of this funding is to support the development of ventures that might not otherwise come to life. Simple Ventures is focused on encouraging Canadian entrepreneurs—especially those living abroad—to return home and build businesses that contribute to the country’s economy and innovation landscape.
Canada has seen a decline in entrepreneurship over the past two decades, with 100,000 fewer entrepreneurs today than 20 years ago, despite a population increase of over 10 million. Additionally, many immigrant entrepreneurs who start in Canada often end up relocating to the United States, partly due to the limited support available for scaling their businesses locally. Simple Ventures aims to reverse this trend by identifying promising business ideas, validating them, and partnering with Canadian leaders to co-create new companies. Their model provides investors with the opportunity to earn substantial returns while also contributing to a broader social and national impact.
In its first 18 months, Simple Ventures has already launched three innovative businesses. Alma Care is focused on improving maternal health through better postnatal care. Harvest helps small and medium-sized enterprises in Canada collect overdue invoices more efficiently. Zero Collective offers a luxury handbag rental membership, giving Canadians access to high-end fashion in a way that’s both sustainable and affordable.
These ventures have already created 100 jobs across various sectors, including executive leadership, engineering, and healthcare. Looking ahead, Simple Ventures plans to launch 25 new companies headquartered in Canada by the year 2030.
Unlike traditional venture capital firms that invest in existing startups, Simple Ventures builds companies from scratch and provides the funding needed to help them grow. The firm is backed by a network of influential leaders whose combined companies represent over C$750 billion in market value.
KEY QUOTES:
“We are coming together to issue a call to action – bring Canadian talent home. This funding will allow us to build great Canadian Headquartered companies. Now is a crucial time to join our mission to put fire in the Canadian engine.”
Rachel Zimmer, exited founder and Co-Founder and CEO of Simple Ventures
“I invested in Simple Ventures because it’s tackling the single biggest gap in our economy, the lack of new company creation. By bringing Canadian talent together and encouraging those abroad to come back and build, Simple Ventures is giving our next generation of founders the resources and support they need to succeed.”
Joe Canavan, a venture capital investor, and veteran entrepreneur who has founded, led and sold multi-billion-dollar firms, including Synergy Asset Management, GT Global and Assante Wealth Management
“Canada has the talent and ambition to lead the world in innovation. But that only happens if we commit to building world-class companies here. Every great Canadian company we can come together and build raises the bar for future generations.”
Mike Katchen, Co-Founder and Chair at Simple Ventures
