Sprout Fund completes close of inaugural $1 million early stage tech fund
Sprout Fund is bringing new partners into the market who have not traditionally invested in early stage technology companies.
Sprout Fund has successfully raised $1 million for its inaugural early stage technology fund. The fund’s strategy is to focus on early stage technology companies led by exceptional teams and leverage the collective capital of its Limited Partners for further investment into companies. “We have attracted capital from a significant group of highly successful investors throughout Alberta,” said Lindsay Dodd, one of four Sprout Fund Managing Partners, “many of whom see this as a smart way to start investing in Canadian technology companies and to help diversify the economy.”
This fund brings together more than 40 Limited Partners who have varied backgrounds as senior business leaders, successful entrepreneurs, and business professionals. “Enabling our portfolio companies and our team to draw on the collective expertise of these partners is extremely valuable.” said Dodd.
James Keirstead, CEO of Levven Electronics and an early investor in Sprout Fund became a Limited Partner because he sees the benefit for investors and the community. “Being part of a consolidated portfolio of startups through a fund like this reduces risk for the angel investor,” he said, adding “we need angel investors and entrepreneurs to support our startup community if we hope to see it grow.”
"We believe that Sprout Fund will help to fill the early stage funding gap and support the development of better deal flow in the province,” said Shaheel Hooda, Managing Partner of Sprout Fund. He added, “this will benefit both startup companies and investors in our ecosystem."
Kristina Milke, one of the Sprout Fund Managing Partners, commented that, “closing this round in only a few short months means that we can start funding our target of 15 or so companies over the next twenty-four months. Our model is to work closely with each founder to help accelerate their business and position them for the next round of capital setting them on the path to becoming a highly valuable growth company.”
“The follow-on capital for these companies will come from Alberta and beyond” stated Sprout Fund Managing Partner, Mark Benning, who has over 20 years of experience in Silicon Valley, adding “venture capital firms from both Canada and the USA are looking for innovative companies with a solid foundation and excellent growth potential, the types of companies that Sprout Fund hopes to accelerate.”
To learn more about Sprout Fund, or to book an interview, contact Lindsay Dodd at (780) 887-4757, email firstname.lastname@example.org, or visit the website at sproutfund.ca
About Sprout Fund
Sprout Fund invests in seed and early stage technology companies with future Series A funding potential. The fund leverages the collective capital and experience of its Limited Partners to help grow high potential technology companies.
Our Managing Partners oversee three key operating principles for the fund:
Select and invest in the most exciting, high potential, early stage technology companies.
Mentor the founders to get their business ready for a significant Series A round.
Assist the founders in acquiring follow on capital to accelerate growth.
The fund is managed by serial tech entrepreneurs, angel investors and community builders Kristina Milke, Lindsay Dodd, Mark Benning, and Shaheel Hooda.