Earlier this year, we reported on a nonprofit organization based out of Edmonton is working to raise capital for startups in Alberta.
Founded in 2019 to empower entrepreneurs across Western Canada, Startup TNT hosts Investment Summit that aim to help raise capital for startups and make it easier for local investors, both seasoned and new, to angel investing.
Angels can invest as little as $5,000 into startups, according to the event website, while the TNT Capital VC Fund Co-Invests $50,000 into every Summit winner.
All deals are syndicated by Startup TNT through an LP for a single line on one’s cap table and simpler investor relations, the organization says.
The business model is working: The Alberta nonprofit was this week recognized in CVCA’s 2023 Canadian Venture Capital Market Overview as one of the most active pre-seed and seed stage investors in Canada.
CVCA’s “Year-End 2023 – VC & PE Canadian Market Overview” found that TNT’s 16 pre-seed investments through the year made it the most prolific pre-seed investor in the country. For seed rounds, it ranked fourth behind titan BDC Capital.
And combined with the organization’s 13 seed investments in 2023, totalling 29 deals, Startup TNT ranks second in Canada for early stage deals behind BDC’s 37.
“Against the backdrop of tech sector uncertainty, and in a year where Canadian venture capital funding dropped, we doubled-down, maintaining our belief in the power of grassroots community engagement to uncover promising investment opportunities,” stated Tim Lynn, co-founder of Startup TNT.
“Our belief from day one has been that great entrepreneurs exist everywhere—and their own local communities are best equipped to identify them,” he added.
Over the past five years, Startup TNT has hosted 30 summits, engaged 375 angel investors, and facilitated $12.5 million of investments in 90 startups, according to cofounder Zack Storms.
“Startup TNT was born out of a desire to help entrepreneurs build from their own regions, and to unlock access to a community of angel investors who want to back the next generation of great Canadian companies,” stated Storms. “To that end, we’re proud of the nearly 30 new companies we added to our portfolio last year, and thankful to the investors, partners, and funders who serve as the foundation of our work today, and that will power us as we expand our network and impact.”
The University of Calgary’s UCEED came in third for pre-seed activity, investing $5 million across 11 rounds, and fifth for seed activity, pouring $16 million into 12 rounds, according to CVCA’s report.
Leave a Reply