The Toronto-based investor is aiming to raise $40 million total for her second startup fund, two years after closing its $34-million predecessor. RBC and Northleaf Capital Partners have returned as anchor investors. Other backers include PointClickCare co-founder Mike Wessinger, former Shopify chief product officer Craig Miller and Tim McGuire, the former head of McKinsey’s global retail practice. (The Globe and Mail)
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The Toronto-based investor is aiming to raise $40 million total for her second startup fund, two years after closing its $34-million predecessor. RBC and Northleaf Capital Partners have returned as anchor investors. Other backers include PointClickCare co-founder Mike Wessinger, former Shopify chief product officer Craig Miller and Tim McGuire, the former head of McKinsey’s global retail practice. (The Globe and Mail)
Talking point: Bannister aims to incentivize founders by offering them a cut of the profits the fund makes. Founders also get personal health coaching, financial advice and a stipend for child care and family support, with the goal to set founders up for success in all aspects of their lives. The approach seems to be getting results. The first fund is in the top 10 per cent of North American funds launched in 2023, with a 50 per cent average annual internal rate of return, according to The Globe and Mail. Those results indicate the paper value of Staircase’s portfolio companies, and haven’t yet materialized as cash returns.
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