Canadian startup news of the week (3/21/21)

Meeting

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


Nearing the first close of his $500 million private equity fund, Maverix's John Ruffolo wants to help build "another 10 Shopifys"

In an interview, Ruffolo said Maverix has closed a “substantial chunk” of its target, though did not disclose exact numbers.


Vendasta files for public listing on the Toronto Stock Exchange

Vendasta has yet to price the offering. It is set to be listed on the TSX under the symbol ‘VND.’


Inovia Capital raises $450 million Growth Fund II to find another Lightspeed

The new fund exceeds Inovia’s target raise of $400 million and brings the firm’s total capital under management to more than $1.5 billion USD.


Revolut leaving Canadian market

In an email shared with Revolut Canada beta users and obtained by BetaKit, the company stated it is “discontinuing [the] Revolut Canadian beta from March 15, 2021.”


As the federal government prepares a new BC RDA, Kelowna-area groups lobby for attention

“This is a good sign they’re realizing, ‘okay, we need to focus on BC and put boots on the ground.’”


Sobey family connection might help new LongShot Capital hit with early-stage startups

With a network that includes the Sobey family, LongShot may just be able to attract larger amounts of capital and limited partners (LPs) for future funds.


Latest Funding, Acquisitions, and Layoffs


RECOMMENDED BY CISCO CANADA

BetaKit Live: Leading Through Change

Entrepreneurs, business leaders, and members of the Canadian tech community join for a panel conversation on leading through change Tuesday, March 30.

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THE NEW BATTLEFRONT BETWEEN SHOPIFY AND AMAZON

“Our expectations as consumers have fundamentally shifted. There’s a new gold standard in town.”


INTERAXON KNOWS WHAT THE PANDEMIC DID TO OUR BRAINS

InteraXon founder Ariel Garten joins to share insights gained from reading people’s (anonymized) brainwaves during a pandemic.


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Caitlin Hotchkiss

Caitlin Hotchkiss

Content coordinator, social media smartypants, wordsmith, Human Workflow™. Exists primarily on coffee, cat pictures, German dance metal, and pro wrestling. I will fight for your right to the Oxford comma.