The $150M venture capital initiative has been busy investing and accelerating the growth of its portfolio companies
TORONTO, June 22, 2023 /CNW/ – Deloitte Ventures makes a strong contribution to Canada’s growing innovation ecosystem in its first year of operations, investing in four companies, becoming an LP in two venture funds, and establishing a robust pipeline development engine. Designed to make minority investments in emerging technology companies, the CAD $150M investment fund by Deloitte Canada has also grown its investment team to accelerate the pace at which it provides capital and support to Canada’s most promising entrepreneurs.
Launched in January 2022, Deloitte Ventures is the largest capital commitment by a Canadian professional services firm to date, prioritizing investments in fast growing B2B software companies at the series A and B financing stages across six prioritized verticals: Fintech, Healthtech, Worktech, Cyber, Data/AI, and ESG. Since inception, Deloitte Ventures has invested in Certn, Protexxa, Plooto, Optable, and become a Limited Partner of StandUp Ventures, and Framework Venture Partners. In June 2022, Deloitte Ventures also welcomed two Managing Directors to co-lead the investment team.
“The continued progress being made by Deloitte Ventures is a testament to the value of Canada’s innovation ecosystem,” says Anthony Viel, CEO, Deloitte Canada. “As Canada continues to position itself as a leading hub for early-stage technology companies, Deloitte Ventures has created an environment where these companies can innovate, scale, and thrive in today’s market.”
“The first year of Deloitte Ventures has been one of tremendous growth. We have established a host of new and valuable connections, hired a stellar investment team, and have carved out a niche for ourselves in the market,” says Talia Abramowitz, Managing Partner, Deloitte Ventures. “But what’s been even greater, is how we drive value for our portfolio companies and our clients through insight, expertise, and curating the right connections. This is just the beginning!”
Deloitte Ventures has also recently been named one of The 50 by the Canadian Venture Capital and Private Equity Association. The designation, which recognizes the top 50 venture funds in Canada, is a showcase of members of the CVCA to expand the global network of Canadian VC funds and build investment interest in Canada.
By combining initiatives like Deloitte Ventures with that of Tech Trends, TMT Predictions, Omnia AI, the Technology Fast 50 program, the TMT practice, and more, Deloitte is fostering a community and accelerating the growth of the technology sector in Canada – a critical ecosystem to Canada’s economy.
Deloitte’s TMT practice is one of the largest assemblies of deep industry experts in the country and is instrumental in helping companies of all shapes and sizes thrive in a digital world. Deloitte’s Technology Fast 50 program has celebrated the achievements and innovation of the fastest growing tech companies in Canada for over 25 years. And the Omnia AI practice, which focuses on delivering end-to-end AI-driven transformation, recently launched its Generative AI Lab Program, an immersive two-day session focused on providing organizations with the ability to understand the revolutionary capabilities of GenAI to overcome today’s most pressing business challenges.
For more information and to connect with Deloitte Ventures, please contact: venturescanada@deloitte.ca or visit http://www.deloitte.ca/ventures.
Deloitte provides audit and assurance, consulting, financial advisory, risk advisory, tax, and related services to public and private clients spanning multiple industries. Deloitte serves four out of five Fortune Global 500® companies through a globally connected network of member firms in more than 150 countries and territories bringing world-class capabilities, insights, and service to address clients’ most complex business challenges. Deloitte LLP, an Ontario limited liability partnership, is the Canadian member firm of Deloitte Touche Tohmatsu Limited. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.
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SOURCE Deloitte & Touche