Graphite Ventures, in partnership with CIBC Innovation, is set to host an exclusive event for founders of B2B software startups in Calgary on November 7, 2024. The event will cater to early-stage startups, ranging from pre-seed to seed stages, offering founders the opportunity to connect with one of Canada’s most active venture capital firms.
With a track record of approximately 200 investments over the last decade, Graphite Ventures has become a major player in Canada’s startup ecosystem. The firm’s $120 million-plus Fund IV, launched in 2021, emphasizes seed-stage opportunities across the country. To enhance its focus on Western Canada, Graphite appointed Omi Velasco, based in Calgary, as a Principal to lead business activities in the region.
A notable success story emerging from Graphite’s portfolio is Calgary’s WaitWell, founded by Steve and Shannon Vander Meulen. WaitWell provides queue management and service-delivery software and secured $1.5 million in seed funding from Graphite Ventures and Edmonton’s Accelerate Fund III in 2023. Initially targeting motor vehicle registries to manage long wait times, WaitWell’s solution is now being applied across other industries.
Graphite Ventures’ current investment focus aligns with:
- Sector: B2B enterprise software and capital-efficient hardware, with an industry-agnostic approach.
- Revenue model: SaaS/recurring revenue preferred.
- Stage: Product-market fit.
- Traction: Typical startups show $25K to $125K monthly recurring revenue (MRR).
- ACV: Ideally exceeding $12K.
- Cheque size: Initial investments of $500K to $1M, with an additional $1M to $3M reserved for follow-on funding.
- Lead role: Graphite can lead, co-lead, or participate in rounds led by others.
Founders interested in participating can RSVP for the event here.
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