Startup investors in Waterloo Region
The angel networks, pre-seed funds and programs that take applications from founders in Kitchener, Waterloo and Cambridge, what each publishes about itself, and how to reach it.
Who invests in startups in Waterloo Region?
Waterloo Region founders can apply to the Golden Triangle Angel Network (GTAN) and to the Waterloo chapter of Keiretsu Forum Canada. Velocity Fund writes pre-seed cheques next to the University of Waterloo's Velocity incubator, and Maple Bridge Ventures, which backs immigrant founders, has a Waterloo office. Each publishes its own route in.
Angel networks in Waterloo Region
| Network | How it works | Who it looks for | Fees | How to apply |
|---|---|---|---|---|
| Golden Triangle Angel Network (GTAN) | A non-profit, member-driven group of angels, family offices and funds. Deals are reviewed monthly. Each member writes their own cheque; together they average $350,000 per investment. | Pitch Path: Canadian tech companies raising angel, pre-seed or seed rounds of $750,000 to $5 million, ready for due diligence, with at least $300,000 left to fill; B2B preferred. Accelerated Path: seed to Series A rounds up to $15 million at under a $50 million valuation, with a strong lead and a referral from a Canadian investor. A separate Startup Visa path exists. | Not stated on site | Pitch Path and Startup Visa applications through Dealum on its site; Accelerated Path by referral |
| Keiretsu Forum Canada (Waterloo chapter) | Founded 2012, with chapters in Waterloo, Toronto, York Region and London. Screening pitch (10 minutes plus 10 minutes of questions), then 4 or 5 companies present at the monthly forum, followed by member due diligence. Members invest individually. | Any sector | Application fees not stated; follow-up updates free; no success fees | "Apply to present" on its Entrepreneurs page |
Funds that invest in Waterloo Region startups
| Fund | Stage | Published first cheque | Focus and eligibility | How to pitch |
|---|---|---|---|---|
| Velocity Fund | Pre-seed | $25,000 scout cheques; $100,000 to $1 million core cheques. About two weeks from first meeting to term sheet. | Technical founders from Waterloo and beyond | Email [email protected] |
| Maple Bridge Ventures | Pre-seed, seed | $250,000 to $1 million | Immigrant founders in Canada building in agrifood tech, health tech or enterprise AI; offices in Waterloo, Toronto and Ottawa | "Pitch us" on its site, or [email protected] |
Programs that put founders in front of investors
- Velocity. The University of Waterloo's incubator. It takes no equity and charges nothing. Founders get workspace, hardware and lab access, coaching, and introductions to investors, depending on fundraising readiness. You don't need to be a University of Waterloo graduate, but you may need to work from Kitchener-Waterloo. Applications are rolling, with new founders onboarded every two months.
Which route fits your company?
| If your situation is… | Look at | Why |
|---|---|---|
| A technical founder at pre-seed | Velocity Fund | Its stated focus |
| A Canadian tech company raising $750,000 to $5 million, ready for due diligence | GTAN Pitch Path | Its published criteria |
| Raising seed to Series A with a strong lead investor | GTAN Accelerated Path | Requires a lead and a Canadian investor's referral |
| An immigrant founder in agrifood tech, health tech or enterprise AI | Maple Bridge Ventures | Its published mandate |
| Early, wanting space and support without giving up equity | Velocity incubator | No equity, no cost |
Meeting an organization's criteria means you can apply, not that it will invest.
Apply to an angel network while the round still has room.
GTAN's Pitch Path requires at least $300,000 left to fill, so approach it early in the raise.
What should you have ready before you apply?
- A due-diligence-ready company for GTAN's Pitch Path.
- A clear round size, to pick the right GTAN path.
- A short email describing your company, for Velocity Fund.
For how to run the raise itself, see how to raise a seed round. For the wider Waterloo Region startup scene, see the Waterloo Region startup guide.
Frequently asked questions
How much do GTAN members invest?
Each member writes their own cheque. Together, GTAN members average $350,000 per investment.
What round size does GTAN look at?
Its Pitch Path covers angel, pre-seed and seed rounds of $750,000 to $5 million. Its Accelerated Path covers seed to Series A rounds up to $15 million.
How fast does Velocity Fund decide?
Velocity Fund says it takes about two weeks from first meeting to term sheet.
Do I need to be a University of Waterloo graduate to join Velocity?
No. Velocity's incubator is not limited to University of Waterloo graduates, though you may need to work from Kitchener-Waterloo.
Does Velocity take equity?
The Velocity incubator takes no equity and charges nothing. Velocity Fund is a separate pre-seed fund that invests for equity.