Raiven initially closes $100m Canada-Silicon Valley fund

Raiven Capital has raised US$25 million for its new fund.

Raiven Capital has secured US$25 million in the first close of a new Canada-Silicon Valley Series A venture capital fund. The target is US$100 million. Toronto-based Raiven is focused on intersections of artificial intelligence, 5G and the internet of things across supply chains in cybersecurity, finance, energy, environment, health, medical imaging and food.

PRESS RELEASE

TORONTO & PALO ALTO, Calif.–(BUSINESS WIRE)–Raiven Capital, a new cross-border early-stage venture capital firm, today announced their first close.

Despite last year’s tumult, the globally focused fund, which invests in early-stage Series A tech companies, exceeded its first closing target of $25M USD. With a final target of $100M USD, Raiven is one of only a handful of first-time Canadian funds and amongst 30 funds in the US that had a first closing during 2020, according to Pitchbook.

Raiven Capital embraces a unique investment thesis – leveraging Canada’s innovation ecosystem and marrying it with Silicon Valley’s focus on growth and exits, exponentially increasing returns.

“Raiven believes Canada’s robust infrastructure, diverse world-class talent and lower costs give our companies a better chance to scale. Our startups benefit from longer runways, substantial public dollars, and a rich environment to thrive in,” said Paul Dugsin, Founding Partner, based in Toronto.

Supreet Manchanda, Founding Partner, based in Silicon Valley, added: “Our partners bring deep operational experience, having each run companies globally at every life-cycle stage, including start-ups, SMEs, and large corporations. We have playbooks of best practices built over decades which will accelerate the growth of our portfolio companies.”

Dugsin and Manchanda possess a combined 40+ years of investing and operational experience, having raised more than $1B USD, with an IRR of 66 percent in previous funds.
The fund’s other partners are in Tel Aviv, Dubai, Singapore, Zurich, Montevideo, Paris, Los Angeles, Vancouver, and Calgary. They provide Raiven with differentiated market intelligence, deal sourcing and market access for growing portfolio companies.
For more information please visit: www.RaivenCapital.com

About Raiven Capital:
Raiven Capital is a Canada-Silicon Valley Series A venture fund that concentrates on investments just before scaling begins, focused on the impacts and opportunities created by Artificial Intelligence, 5G and the Internet of Things. Raiven actively seeks founders that develop opportunities that optimize supply chains across cybersecurity, finance, energy, environment, health, medical devices, and food. Once growth is robust, Raiven exits its portfolio companies to later-stage capital in Silicon Valley and beyond.