Velocity Fund
Fund · Waterloo · velocity.fund
A Waterloo pre-seed fund, anchored by the University of Waterloo endowment, that backs technical founders from Waterloo and beyond.
Velocity Fund is a pre-seed venture fund in Waterloo, Ontario. Its general partners, Akash Vaswani and Ross Robinson, are University of Waterloo alumni who built their first companies at Velocity. Its offices are at the entrance to Velocity Incubator, and the University of Waterloo endowment is an anchor investor.
Its portfolio page lists 74 companies, backed since its first investment in 2019 through Fund I, a rolling fund and Fund II. Its current fund, Velocity Fund II, says its first close of $10M is complete.
Founders apply by email through the Apply button on its site, with a short blurb on the company and its founders and the pitch deck attached. It promises a term sheet or a clear no within two weeks of the first meeting.
What it invests in
Pre-seed rounds for technical founders
Scout cheques of $25K and core cheques up to $1M
Leads rounds, taking 5 to 7.5% ownership
Waterloo founders make up about 70% of its portfolio, and technical teams from anywhere with early signal about 30%
Sectors on its portfolio page: SaaS, AI and machine learning, health tech, deep tech, fintech, climate, gaming and consumer
News & coverage
In the news (2)

University of Waterloo-backed Velocity Fund II holds $14-million initial close
First VC fund backed by Canadian university endowment has deployed into five startups so far. The post University of Waterloo-backed Velocity Fund II holds $14-million initial close first appeared on BetaKit.

Waterloo startup Scribenote secures $8.2 million to tackle vet burnout with AI scribe
The seed round led by a16z, including participation from Velocity Fund, set to expand the platform for veterinarians in Canada and U.S.
Waterloo Region startups backed by Velocity Fund (20)


Scispot LabOS
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Voltra
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Ground News
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Page
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Scribenote
scribenote.comScribenote is the veterinary AI scribe trusted by 6000+ vets. Automatic SOAP notes in 2 clicks, custom templates, PIMS integration. Free plan available!

Ceragen
ceragengrow.comUsing advanced DNA and viral sequencing we help growers understand what is happening in their systems at the microscopic level. From bacteria and fungi to oomycetes and viruses, we identify everything in your system so you can detect disease earlier, confirm the effectiveness of treatments, and…
RunQL
runql.comRunQL is a free, open-source SQL IDE or extension for VS Code. Run queries, auto-document schemas, generate ERDs and charts, and save everything as Git-ready files.


Clockwork
clockwork.energyClockwork helps EV charging operators detect, diagnose, and resolve charger reliability issues to improve First Charge Success and operational performance.

Pronti
pronti.comReduce stress and get outfit inspiration from your own closet with Pronti AI outfit maker all while using what you already own!


1Mentor
1mentor.ioPartnering with colleges and universities to prepare students for the future of work. You can empower your students and your career advisors to help cultivate a career-ready workforce — book a demo with one of our experts to see our AI platform.


Equator
equatorstudios.comEquator empowers housing professionals with accurate site data from hundreds of sources. Experience a competitive edge in land development


Agilicus
agilicus.comZero-Trust for Critical Infrastructure and Industrial Control Systems. Give any user, on any device, secure access to any resource they need—without a client or VPN.

LSK Technologies
lifesci-key.comLSK Technologies creates low-cost, portable plate reader for ELISA and LAMP tests. Our product, PLUM-HT™, is an affordable and easy-to-use reader that provides quantitative analysis on biological and chemical reactions.

Poppy
talkpoppy.comWi-Fi voice messaging and calling that lets children safely connect with friends and family.

SmartRecover
getsmartrecover.comSmartRecover plugs into your CRM and has real people text your abandoned leads 1:1 to win them back. You only pay for closed revenue. $240M+ recovered for leading healthcare brands.
Qidni Labs Inc.
qidni.lifeUp to 10 million patients with kidney failure have no access to dialysis

Liquid Energy
liquidenergy.worldLiquid Energy builds NanoDC: factory-built, off-grid AI compute that carries its own solar power. Solar in, tokens out.
Evolved.Bio
evolved.bioAt Evolved.Bio, we’ve taken a groundbreaking leap beyond traditional cell sheet technologies, which were first developed in Japan in the 1990s. Our unique approach, Anchored Cell Sheet Engineering, refines and extends this foundational technique to meet the needs of regenerative medicine.
cobionix.com
cobionix.com

Feel Good Interactive
feelgoodinteractive.comFeel Good Interactive builds AI infrastructure for family-friendly IP. FEEL is the safe way to bring characters and stories to life with AI. Kids create. Characters stay true. Character-creators stay in control.
From the fund's own portfolio page and public announcements of its rounds. Only Waterloo Region companies in the directory are shown.
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