Superangel Mike Edwards Goes Public with LX Ventures - Now You Can Invest With Him

Posted by Rob Lewis

Over the last few years the Vancouver startup community has been booming and a lot of the credit goes to two very active angel investors.

Together Boris Wertz and Mike Edwards have interested in 60+ consumer internet startups over the past four years. Along the way they have been named BC's Angel of the Year back-to-back.

While both began as angels, they have quickly been tagged as Superangels and now they're taking slightly different paths in the way they invest.

Wertz wrapped up his personal investment company W Media Ventures and has launched Version One Ventures - a $15 million micro VC fund.

While Edwards' day-to-day responsibilites include leading Vancouver-based technology accelerator GrowLab, the majority of his investments fall under his early stage investment fund, Initio Group.

But that looks like that might change soon. And it might give the average retail investor an opportunity to ride Edwards' coattails on some of his smart deals.

Publicly-traded shell Intensity Company Inc. (TSX.V: ITT) announced today that is has appointed Mike Edwards as chief executive officer and Ray Walia as chief operating officer (Walia is a co-founder of Vancouver's Launch Academy). Intensity is in the process of being renamed LX Ventures and will become a new technology merchant bank in Vancouver.

According to Intensity Executive Chairman Keir Reynolds, LX will invest in angel, seed and series A rounds up to $500,000 and "internally innovate" startups seeking financial backing as well as concepts identified by the LX team.

LX closed their initial seed round of $2.2 million last month, have made 5 investments to date, and will based out of the same space that GrowLab shares with Launch Academy in Gastown.

Today's announcement is a sign that Vancouver's ecosystem is growing. While LX Ventures can be yet another funding source for startups, they can also serve as a bridge to the public markets for companies seeking growth capital through an Initial Public Offering or Reverse Take Over.

Intensity Company Inc. (TSX.V: ITT) closed at 25 cents today (a 52-week high) and has a market cap of $7 million with 28 million shares outstanding.

Company:
GrowLab Ventures Inc.
Website:
http://www.growlab.ca
Location:
Vancouver, British Columbia, Canada

GrowLab supports the World's best entrepreneurs through seed funding, office space, mentorship & programming in Vancouver & San Francisco. more

Company:
InitioGroup
Website:
http://www.initiogroup.com
Location:
Vancouver, British Columbia, Canada

InitioGroup is a Vancouver, BC based early stage investment fund led by Managing Director Mike Edwards. Our focus is consumer internet, mobile, and solving real problems. more

Company:
LX Ventures
Website:
http://www.lxventures.com
Location:
Vancouver, British Columbia, Canada

LX Ventures is a publicly traded incubator that launches, integrates, and acquires early stage high growth technology companies. We are a group of entrepreneurs dedicated to developing the next generation of entrepreneurs by providing funding, resources, mentorship, and access to our global network. We are in the business of building businesses. Our approach is twofold: we either partner with existing companies to... more


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Rob Lewis

Rob Lewis

Rob is the President of Techvibes Media and Editor-in-Chief of Techvibes.com.  His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not running Canada's leading technology media property, Rob can be... more



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