The university’s undergraduate program placed 21st in PitchBook’s annual global university ranking, which compared schools by the number of alumni entrepreneurs who raised venture capital from Jan. 1, 2013 to Sept. 1, 2023. According to PitchBook, 511 founders graduated from UWaterloo’s undergraduate program and went on to raise a total of roughly US$17 billion in venture capital. (The Logic)

Talking point: Those graduates from UWaterloo include San Francisco-based Instacart’s co-founder Apoorva Mehta, as well as Toronto-based Clearco’s co-founder Andrew D’Souza. In June, UWaterloo became the first Canadian post-secondary school to use money from its endowment to create a venture capital fund that invests in early-stage companies, including some incubated at the school. While Stanford University, Berkeley and Harvard took the top three spots on PitchBook’s study, other Canadian universities including the University of Toronto (27th), McGill University (28th), University of British Columbia (43rd) and Queen’s University (63th) also made the list. The analysis is based on PitchBook data for global venture capital investment and the education information of more than 150,000 founders.