US-based accelerator program Acceleprise is making a move into the Canadian market, with plans to open a Toronto location.
Acceleprise is planning to raise a $5 million CAD fund for Canadian specific investments.
The B2B SaaS-focused accelerator has listed a job posting on AngelList, a US website for startups, angel investors, and job-seekers looking to work at startups. Acceleprise is looking for a Program Director for its, yet to be announced, Toronto hub. The listing states that Acceleprise is looking for someone “to run a business and fund, with the backing and resources of an accelerator.”
Acceleprise is planning to raise a $5 million CAD fund for Canadian specific investments. It plans to invest in up to 30 companies over a two year period. Investments will be focused on pre-seed and seed stages for “top performing Canadian companies going through the accelerator.” The firm said its model is to “invest up front” in startups joining its accelerator. It then works closely with its cohorts for a 4-month program that includes mentorship, with an emphasis on helping early-stage companies with a go-to-market strategy.
The accelerator is currently based in San Francisco and New York. It originally opened in Washington DC in 2012 and expanded to San Francisco in 2014. It’s most recent cohort included nine companies that appear to be mainly based out of San Francisco. Previous portfolio companies include AdHusky, which was part of the second San Francisco cohort and has since been acquired by GoDaddy. Acceleprise claims to have invested in more than 100 companies to date.
Canadian companies accepted into the accelerator will be given the chance to work in Acceleprise’s US offices and participate in demo days at each location, which, it states, typically attracts more than 200 investors.
Acceleprise is looking for program director that can focus on sourcing founders for its accelerator, build the program itself and create partnerships that can expand Acceleprise “externally within the Canadian B2B, SaaS community.” The director will work closely with the firm’s US team, which will provide support for the Toronto program.
In 2017, along with opening its New York location, Acceleprise also opened an accelerator space in Melbourne, Australia.
Feature image courtesy Acceleprise’s Twitter