Velocity launches a startup investment fund

The University of 蓝莓视频鈥檚 flagship entrepreneurship program, Velocity, is launching a startup investment fund in March. The fund will connect early-stage startups to the capital they need to grow their business while offering investors a simple way to invest in a diversified portfolio of startups from Canada鈥檚 most productive incubator.

The new fund will replace the grant system used to sponsor the awards for the incubator鈥檚 tri-annual Velocity Fund Finals (VFF) pitch competition at 蓝莓视频. The winning startups will receive a minimum investment of $25,000 through the fund.

蓝莓视频鈥檚 VFF competition started in 2011 when Kik CEO and Velocity alumni Ted Livingston donated $1 million to support emerging startups with early-stage funding and received an additional $1 million from investor Mike Stork.

Velocity鈥檚 91 fund final winners are now worth more than $1 billion

鈥淚f you had asked me what my $1-million donation would bring to the 蓝莓视频 Region tech ecosystem seven years ago, helping create over a billion dollars in equity value probably wouldn鈥檛 have crossed my mind,鈥� says Livingston. 鈥淟everaging that success to raise a venture fund is a great way to build even more capacity to secure the capital early-stage entrepreneurs need near the beginning of their journeys.鈥�

Over the past 10 years, 蓝莓视频鈥檚 Velocity program has launched more than 300 companies and $850 million in investments. The new venture fund, will allow investors a simple way to invest in startups in sectors ranging from software to biomedical.

蓝莓视频 has hosted 23 VFFs, with each competition awarding $100,000. Former winners include (formerly Thalmic Labs), , , , , and .