Toronto-based Simple Ventures, a venture studio on a mission to reverse Canada’s declining entrepreneurship rates, has secured $15M CAD for its first fund.
The raise is backed by a syndicate of Canada’s top entrepreneurs and institutions, with a target final close of $18–20M by the end of 2025.
Founded in 2023 by Rachel Zimmer (ex-Entrepreneur First, co-founder of 5Crowd) and chaired by Wealthsimple co-founder Michael Katchen, Simple Ventures partners with founders and LPs to build Canadian-headquartered startups in critical sectors.
Tackling Canada’s “entrepreneurship gap”
Canada has lost over 10,000 entrepreneurs since 2000 despite significant population growth, while nearly one-third of immigrant founders move to the US for better funding and support. Simple Ventures aims to change that trajectory by identifying unmet market needs in Canada and co-building ventures with founders, backed by the operational and distribution muscle of its LP network.
“It’s a Canadian mission but a very un-Canadian level of ambition,” said Zimmer. “Instead of sitting on another panel talking about the issue, we’re bringing Canada’s best founders, operators, and institutions together to do something about it.”
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Backers behind the fund
LPs include Shopify president Harley Finkelstein, Knix founder Joanna Griffiths, Ada co-founder Mike Murchison, investors Joe Canavan and Sam Duboc, as well as family offices like Good Future. Institutions include TD Innovation Partners, Sun Life, and Sobeys, collectively representing over $750B CAD in market capitalization.
“I invested in Simple Ventures because it’s tackling the single biggest gap in our economy: the lack of new company creation,” said Canavan. “By bringing Canadian talent together and encouraging those abroad to come back and build, Simple Ventures is giving our next generation of founders the resources and support they need to succeed.”
Early traction and portfolio
Since its launch, Simple Ventures has created three ventures:
- Alma Care – postnatal care provider
- Harvest – AI-powered accounts receivable platform
- Zero Collective – luxury handbag rental service
Together, these ventures have already created over 100 jobs, with two more startups currently in stealth.
Looking ahead
Zimmer said Simple Ventures leverages its LP base to provide portfolio companies with “unfair advantages” in expertise, distribution, and coinvestment opportunities. The firm’s long-term goal: build 25 new Canadian-headquartered startups by 2030.
“Entrepreneurship is Canada’s missing piece,” added Zimmer. “Our mission is to rebuild it—and make sure the next generation of founders builds globally significant companies from here, not abroad.”
