Canadian startup news of the week (12/19/21)

Plus: Ryan Holmes, Manny Padda launch venture fund to invest in young founders.

Welcome to BetaKit’s startup stories of the week! Here, you will find the week’s most important news, features, and editorials published on BetaKit. If you prefer this update hit your inbox every week, make sure to subscribe to the BetaKit Newsletter using the form at the bottom of this page.

Top Stories of the Week


TealBook looks to become global leader in supply chain data with $50 million in new funding

Since 2015, TealBook has been building its procurement intelligence platform to provide supply chain data to buyers. Using machine learning and artificial intelligence, TealBook’s goal is to help companies more easily source and access their suppliers’ data.


New mandate letter gives Minister Champagne long to-do-list for Canadian tech and innovation

The letters came two months after Trudeau announced his new, post-election cabinet on October 26. The shuffle followed the September election, which saw the prime minister lose some of his cabinet ministers.


Narwhal Project Canadian accelerator ranking shows need for improvement compared to US counterparts

Well known for its annual list highlighting Canada’s fastest-growing tech companies, The Narwhal Project has created a new index ranking Canada’s accelerators, and shared details with BetaKit about its new accelerator program, which has been operating in stealth over the past year.


Accelia Capital launches $50 million VC fund to back women-led startups in Québec

Accelia Capital intends to fund innovative, Québec technology companies. The fund will focus “particularly [on] high-impact, high-performing, women-owned and women-led businesses, which in turn will foster increased diversity in the sector,” according to the fund’s partners.


Ryan Holmes, Manny Padda launch venture fund to invest in founders under 30 years old

Hootsuite’s Ryan Holmes and New Avenue Capital’s Manny Padda have created a new venture fund to invest in young entrepreneurs that are coming out of Holmes’ charity League of Innovators. Holmes and Padda have already made their first investment through the fund, backing Toronto-based employee engagement software startup WFHomie.


How the global “phenomenon” of impact investing is heating up in Canada

In a recent BetaKit Live, Blair Miller, Managing Partner of the TELUS Pollinator Fund for Good, Chenny Xia, the CEO of Pollinator Fund portfolio company Gotcare, and Amit Bouri, the CEO of the Global Impact Investing Network (GIIN), looked back on how impact investing has developed globally, the growth of impact investing in Canada, and what it means to scale impact.


SVB report finds Canadian venture activity reached new heights in 2021

Canada is set to finish off 2021 with a new record for venture capital deals, according to Silicon Valley Bank’s State of the Markets report for the fourth quarter of 2021.


Latest Funding, Acquisitions, and Layoffs


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Josh Scott

Josh Scott

Josh Scott is a BetaKit staff writer who loves to tell Canadian business and tech stories. His coverage is more complete than his moustache.

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