Top Down Ventures, a venture capital firm founded by industry visionary Chris Day, announced the first closing of its $25 million Founders Fund, designed for fueling early-stage SaaS companies within the Managed Service Provider (MSP) sector.
Building on an innovative venture studio model, Top Down empowers MSP software startups with capital, unparalleled operational expertise, and a proven scaling playbook. And the firm’s General Partners – Chris Day, Joel Abramson, and Mark Scott – boast a remarkable track record in the MSP space, such as founding and scaling companies like Fully Managed (acquired by TELUS), IT Glue (acquired by Kaseya), N-able (now a public company), ScalePad, and Produce8 with prior investments in leading MSP software firms such as Backup Radar, Quoter, Control Map, and Benji Pays.
Top Down’s Founders Fund targets high-potential SaaS companies generating $1+ million in annual recurring revenue (ARR), with Seed or Series A investments up to $3 million. And with a carefully curated network of Limited Partners and Operating Advisors, including MSP veterans like Dan Wensley, Janice Siddons and Ryan Voegeli – the fund is uniquely positioned to amplify the success of its portfolio companies.
Top Down offers financial backing but also utilizes its deep operational experience to drive growth for its portfolio companies. And the firm’s venture studio model includes expert guidance in product development, go-to-market strategies, and team building, ensuring that founders receive both strategic and tactical support.
KEY QUOTES:
“We are thrilled with this milestone, which reflects the confidence of MSP founders and executives who make up the majority of our Limited Partners. Our deep sector focus and hands-on approach are already driving momentum as we anticipate closing three new SaaS investments in Q4.”
– Joel Abramson, Managing Partner at Top Down
“We’ve been at the forefront of several firsts in the MSP industry, and this fund is the next one. Our capital, SaaS playbook, and venture studio combined with our global network, provide an unparalleled force multiplier for SaaS startups in an industry that’s on track to reach $1 trillion by 2030.”
– Mark Scott, Managing Partner at Top Down
