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The Vancouver-based early-stage investment firm closed its fifth main venture capital fund with US$78 million, and raised another US$30 million for an opportunities fund that will invest more money into Version One’s most promising portfolio companies. (The Logic)
Talking point: Version One has built a reputation as one of Canada’s top seed investors through early bets on companies including Clio, Jobber, Ada and Coinbase. The double raise stands out in a difficult market for fund formation. A recent report from the Business Development Bank of Canada found that Canadian VC funds raised just $1.8 billion across 11 funds in 2025, down from $3 billion across 23 funds in 2024. The firm is looking abroad for growth opportunities as startup creation in Canada slows, Version One founding partner Boris Wertz told The Globe and Mail. It has recently made deals in India and markets in Africa.
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