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Rhino Ventures, formerly known as Vancouver Founder Fund, is a Vancouver-based venture capital firm founded in 2015. The firm specializes in partnering with entrepreneurs to build, acquire, and scale market-leading platforms. Rhino Ventures has established itself as a significant player in Western Canada's tech ecosystem and has expanded its investment reach across Canada and internationally.
As of now, Rhino Ventures manages a total of $90 million across its funds. The firm has successfully closed three funds, with the latest, Fund III, totaling $120 million CAD, which exceeded its target by $20 million. BDC Capital, the Business Development Bank of Canada, is among its limited partners. Rhino Ventures has a history of notable exits, including companies like Thinkific and Beanworks, showcasing its effectiveness in identifying and nurturing high-potential startups.
Rhino Ventures employs a sector-agnostic investment strategy, targeting early-stage companies from pre-seed to Series A. The firm invests between $500,000 and $5 million per company, emphasizing entrepreneurial enablement across various sectors, including B2B, fintech, direct-to-consumer e-commerce, healthcare, and enterprise services. This diverse approach allows Rhino to support innovation and growth in multiple industries.
The firm seeks technology-driven companies with low burn rates and a strong cash-flow focus. Rhino Ventures aims to build market-leading platforms by backing entrepreneurs who demonstrate durable competitive advantages. Originally focused on Western Canada, the firm has expanded its geographic reach to include investments in Toronto and London, UK, particularly with the launch of Fund III.
Rhino Ventures has a diverse portfolio that includes notable companies across various sectors. Key portfolio companies include:
Six of the twenty companies from earlier funds have successfully exited, demonstrating Rhino's ability to identify and support high-potential startups.
David Hogarth - Partner. David has a background in venture capital and has led numerous successful investments in technology-driven companies. His expertise lies in identifying high-potential startups and providing strategic guidance.
Jay Rhind - Partner. Jay brings extensive experience in early-stage investing and has a strong track record of supporting entrepreneurs in scaling their businesses. He focuses on fintech and healthcare sectors.
Fraser Hall - Partner. Fraser has a background in technology and finance, with a keen interest in enterprise services. He has been instrumental in driving the firm's investment strategy and portfolio management.
In October 2021, Rhino Ventures successfully closed Fund III at $120 million CAD, exceeding its initial target by $20 million. This fund marks a significant milestone in the firm's growth and expansion strategy.
Rhino Ventures continues to actively seek investment opportunities across Canada and internationally, focusing on early-stage technology-driven companies. The firm has made notable investments in sectors such as fintech, healthcare, and direct-to-consumer e-commerce.
What are Rhino Ventures' investment criteria?
Rhino Ventures invests in early-stage companies, specifically from pre-seed to Series A, across various sectors including fintech, healthcare, and commerce. The firm looks for technology-driven businesses with low burn rates and strong cash-flow focus.
How can I apply or pitch to Rhino Ventures?
Founders interested in pitching to Rhino Ventures should prepare a detailed presentation that outlines their business model, market opportunity, and financial projections. While specific application forms are not mentioned, reaching out through their website is advisable.
What makes Rhino Ventures different from other venture capital firms?
Rhino Ventures emphasizes entrepreneurial enablement, providing not just capital but also strategic support to help portfolio companies navigate challenges and scale effectively. Their sector-agnostic approach allows them to invest in a wide range of industries.
What is the geographic scope of Rhino Ventures' investments?
Initially focused on Western Canada, Rhino Ventures has expanded its investment reach to include opportunities across Canada and internationally, including cities like Toronto and London, UK.
What is the typical check size for investments?
Rhino Ventures typically invests between $500,000 and $5 million in each portfolio company, depending on the stage and needs of the business.
What kind of post-investment involvement can founders expect?
Rhino Ventures provides ongoing support to its portfolio companies, leveraging its extensive network and expertise to assist entrepreneurs in scaling their businesses effectively.
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