StandUp Ventures Expands Team and Secures New Funding to Boost Women-Led Startups

StandUp Ventures, a venture capital fund dedicated to investing in women-founded and women-led technology companies, has announced significant developments in its growth strategy. The fund, launched in 2017 by Michelle McBane, has expanded its team and secured new funding to enhance its support for diverse entrepreneurship across Canada and the United States.

In a move to strengthen its leadership, StandUp Ventures has welcomed Meredith Powell to its team. Powell, a seasoned venture capitalist with seven years of experience at a top-tier Seattle-based fund and a background as an exited serial entrepreneur, brings valuable expertise to the organization. Her addition is expected to bolster StandUp's ability to identify and nurture promising startups led by women.

The fund has also promoted Katheleen Eva, who joined as the first full-time investment analyst four years ago, to the position of Senior Associate. Eva, based in Montreal, expressed her commitment to being a supportive partner for ambitious founders aiming to make a global impact.

With these strategic additions, StandUp Ventures now has a presence in Canada's major tech hubs: Vancouver, Toronto, and Montreal. This expanded geographical reach positions the fund to better tap into diverse entrepreneurial ecosystems across the country.

In a significant move, StandUp has also made its first US-based seed stage investment in Florida-based Max Retail. This expansion into the US market demonstrates the fund's growing ambitions and its commitment to supporting women-led ventures beyond Canadian borders. Max Retail recently secured a $15 million USD Series A funding round, with StandUp participating alongside other prominent investors.

The fund's track record speaks to its success in identifying and supporting high-potential startups. StandUp's Fund 1 and Fund 2, with $56.5 million in assets under management, have invested in 44 founders across 28 software ventures. Notably, the inaugural $21 million fund, which invested in 16 companies, has seen a collective valuation increase to nearly $1.2 billion—a 4.5x growth from initial entry prices. These portfolio companies have collectively raised over 50 times the initial investment in follow-on capital.

StandUp Ventures' performance has significantly outpaced industry benchmarks, with over half of the companies in its first fund progressing from seed to Series B and beyond, compared to the industry average of one in six. This success includes investments in Arteria AI and Odaia, which were among Canada's largest Series B rounds last year.

The fund's second iteration, which began deploying capital in mid-2022, is already showing promising results. Four of the funded companies have raised 12 times the initial invested capital in follow-on commitments.

Further solidifying its position in the venture capital landscape, StandUp Ventures has recently secured VCCI Inclusive Capital funding. This new investment is expected to support the growth of StandUp's returns-focused franchise strategy, enabling the fund to continue its mission of backing diverse leadership in the startup ecosystem.

The expansion and new funding for StandUp Ventures represent a significant development in the venture capital landscape, particularly for women-led startups. By focusing on this underserved segment of the market, StandUp is not only aiming to achieve better returns but also addressing the systemic issue of underfunding for women entrepreneurs. As the fund continues to grow and expand its reach, it has the potential to play a crucial role in shaping a more diverse and inclusive startup ecosystem in North America.