BDC Adds Money to Boris Wertz's Version One Ventures Fund, Vows to Support Canadian Angels

Boris Wertz successfully raised $15 million for Version One Ventures last summer.

With the original target set at $10 million, V1V was already oversubscribed. Now the Vancouver superangel has received an additional investment from the Business Development Bank of Canada. It's the first time that the BDC has backed an angel in this fashion. As a result, V1V's fund now exceeds $19 million.

Wertz (who is an investor in Techvibes) typically invests between $250,000 and $500,000 in Canadian tech startups in and around spaces like ecommerce and software-as-a-service. So far, V1V has made 11 investments worth $2.5 million. Up to two dozen more startups will receive investments from the fund, Wertz estimates.

It's a landmark deal for the Canadian bank. But Wertz may just be the beginning: the BDC says it wants to continue to support our nation's angels.

“Investors who are knowledgeable and involved in their companies are as vital to a healthy startup ecosystem as the entrepreneurs themselves,” notes Senia Rapisarda, Vice President of Strategic Investments and Initiatives at BDC Venture Capital. “We are now making it our business to help successful superangels such as Boris Wertz, who possess a unique combination of operational and venture investment experience, to bring their investment activities to the next level."

Version One investors include Canadians Jeff Mallett (ex-Yahoo), Ryan Holmes (HootSuite), Markus Frind (PlentyofFish), Hannes Blum (AbeBooks), Elton Pereira (ParetoLogic), Alan Juristovski and Milun Tesovic (MetroLyrics, now CBS), Dave Johnson and Andre Charland (Nitobi, now Adobe), and Patrick Lor (Fotolia, ex-iStockphoto).

Edited for accuracy.

Version One Ventures
Vancouver, British Columbia, Canada

Above everything else we invest in entrepreneurs, not businesses. We love passionate entrepreneurs with deep domain knowledge. Entrepreneurs with great product and design instincts. Entrepreneurs who want to change the world but know that in order to do so, they need help. And yes, we love to help, when and where ever we can. Besides the founder team we look for a few more things when... more

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Knowlton Thomas

Knowlton Thomas

Knowlton is the managing editor of Techvibes and author of Tempest Bound. Based in Vancouver, Knowlton has been published in national publications and has also appeared on television and radio. Previously he was an editor for New Westminster weekly The Other Press and served on its board of directors. When not working, Knowlton enjoys hiking, tennis, and martial arts. more

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