Pender Ventures partner Isaac Souweine leaves VC firm

After more than three years as partner, Isaac Souweine has left Vancouver-based venture capital (VC) firm Pender Ventures.

“I learned a ton from working with Maria and the team and am happy to have been able to help the firm expand its presence in Québec and across Canada.”
Isaac Souweine

Pender Ventures managing partner Maria Pacella and Souweine announced the news on LinkedIn. In an interview with BetaKit, Souweine said he left the firm at the end of last week to explore other opportunities and projects in the Canadian tech startup and investment community. However, he said it is “too early” to say what comes next for him.

Souweine worked alongside principal Meryeme Lahmami in Montréal to help build Pender Ventures’ presence in Eastern Canada. He claimed his departure from the VC firm was a “mutual” decision.

“I think Pender has a sound strategy and the performance of Fund 1 is the best proof of that,” Souweine said. “I learned a ton from working with Maria and the team and am happy to have been able to help the firm expand its presence in Québec and across Canada. I wish them the best of luck in their next chapter.”

Pacella noted that Souweine “championed” the VC firm’s investment in Vancouver cleantech startup and Tentree spinout Veritree. She said his “deep commitment to building community” is one of his biggest strengths, pointing to his organization of founder poker nights, work to bring FundFest to life, and support of Front Row Ventures.

“Isaac has been a valued team member whose dedication, insight, and community-building spirit have elevated Pender Ventures’ brand, strengthened our market presence, and supported portfolio companies,” Pacella told BetaKit over email. “We thank him for his contributions and wish him well.”

Pacella said that Pender Ventures’ geographic strategy is unchanged. She emphasized that Montréal and Québec are still “a priority” for the VC firm as it looks to deploy the remainder of its $100-million CAD second fund into more early-stage, Canadian, business-to-business software and healthtech startups.

Pacella described Lahmami as “a strong deal-flow generator who ensures that our presence and pipeline there remain robust.” She hinted that the VC firm plans to soon announce two new team members to support its efforts.

Earlier this year, Pender Ventures brought on Jacob Grainger as an associate in Calgary, following an investment from the Alberta Enterprise Corporation.

Souweine was Pender Ventures’ only partner, and Pacella did not specify whether the firm plans to appoint a direct replacement.

The experienced, early-stage Canadian tech investor first joined Pender Ventures in mid-2022 as a partner to aid the VC firm’s expansion across Canada and help raise its second fund.

Pender Ventures hit its target despite a longer-than-expected timeline and a tough VC fundraising market. Pacella attributed the success to the firm’s consistency, its performance, and Export Development Canada’s support. At the time, Pacella said Pender Ventures’ net internal rate of return through its first, $25-million fund was between 20 and 30 percent.

Earlier this year, Pender Ventures won the Canadian Venture Capital & Private Equity Association’s 2025 VC Deal of the Year award for its investment in Vancouver software company Copperleaf Technologies, which went private in a $1-billion transaction.

“Pender is a firm where the public awareness did not match the activities,” Souweine said. He argued that “not enough people” knew about Pender Ventures, its strategy, and performance before he joined and claimed he helped raise the firm’s profile in the Canadian tech community.

Souweine said he also leveraged his past experience at Montréal VC firm Real Ventures to help Pender Ventures refine its internal communications, operations, and reporting as it jumped from a $25-million initial fund to a $100-million successor and scaled its team accordingly.

Despite admitting it is a challenging time for the VC industry, Souweine said he’s optimistic about the future. He argued that the ecosystem has become much stronger and more professional over the past 12 years. He said he is excited to take on new initiatives in the Canadian tech ecosystem that leverage his deal flow, community-building, and connectivity skills.

Feature image courtesy Isaac Souweine.