News Briefs

LOI Venture holds first close for Canadian pre-seed fund

LOI Venture, launched by Hootsuite founder Ryan Holmes and New Avenue Capital founder Manny Padda, has initially closed its debut Canadian pre-seed fund, according to a blog post.

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LOI Venture, launched by Hootsuite founder Ryan Holmes and New Avenue Capital founder Manny Padda, has initially closed its debut Canadian pre-seed fund, according to a blog post. LOI Venture Fund I raised an undisclosed amount against a C$20 million target. Its first deal was the $1.5 million financing of WFHomie, a Toronto-based employee engagement and distributed team culture analytics platform.

Source: Blog post