UCeed has reached a significant milestone, celebrating five years of operations and announcing that it now manages $30 million across seven funds, with its first portfolio exit complete. The achievement reflects how rapidly UCalgary’s investment platform has grown since its launch, evolving from an idea designed to bring research from the lab to the marketplace into Canada’s largest university-based investment fund of its kind.
Since its inception, UCeed has invested $12 million in 74 startups across multiple sectors, helping to accelerate early-stage innovation and strengthen the connection between research, commercialization, and economic growth in Canada. The fund recorded its first liquidity event in September when one of its earliest portfolio companies was acquired, generating a return that exceeded expectations and validating UCeed’s model of philanthropic capital paired with expert due diligence.
UCeed’s expansion includes the addition of the Engineering and Science Fund, enabled by a $5 million gift from Dr. Bruce McGee through the McMillan-McGee Foundation. Its first investment backed North Vector Dynamics, a Calgary-based defence technology company building Canadian-made drone interceptors. The new fund extends UCeed’s ability to support deep-tech and science-driven ventures emerging from the University of Calgary and beyond.
The platform’s momentum extends across its portfolio. Fluid Biomed secured a $27 million US Series A funding round, marking the largest medical device financing in Canada in 2024. PurposeMed continued its growth trajectory, scaling to serve more than 50,000 patients. DISA Technologies secured a $30 million US Series A2 to advance mineral recovery innovations. These milestones reflect UCeed’s expanding role in shaping the country’s innovation economy.
UCeed’s model is rooted in philanthropy, paired with an evergreen reinvestment strategy that channels returns back into future research and startup development. Its growth is supported by a network of donors, advisors, and founders who share a vision for catalyzing early-stage entrepreneurship.
The organization now operates seven funds aligned with UCalgary’s research strengths and community priorities, including Health, Child Health and Wellness, Social Impact, Energy, Neuro, the Haskayne Student Fund, and the Engineering and Science Fund. Each fund contributes to building a stronger pipeline of Canadian startups through early investment, founder education and strategic support that helps ventures secure follow-on capital.
UCeed’s 2025 Momentum Report provides further detail on its performance, founder stories and portfolio outcomes as the fund positions itself for continued impact in the coming years.
KEY QUOTES
“UCeed is more than an investment fund — it’s a launch pad for ideas that improve lives. As Canada’s entrepreneurial university, we’re proud to champion researchers and founders who are translating discoveries into real-world solutions that benefit people, the planet and the economy.”
Ed McCauley, President, University of Calgary
“Philanthropy is what sets UCeed apart. What we see coming out of UCeed — new technologies, jobs, and industries — that’s donor-driven impact, creating real change across Alberta and beyond.”
Andrea Morris, Vice-President of Development and Alumni, University of Calgary
“We are expanding the pipeline of promising startups by unlocking innovation from Canadian universities. Our team invests early, educates founders, and helps position ventures for growth and follow-on capital.”
Peter Santosham, Executive Director and Managing Partner, UCeed
