Maple Bridge Ventures has achieved a major milestone in venture capital. The firm closed $10.2 million CAD in its debut fund’s first round. This makes it Canada’s first institutional-grade venture fund focused exclusively on immigrant founders.
The fund is now approaching its $20 million target. Ghanaian entrepreneur Eric Agyemang founded and leads the venture capital firm. Maple Bridge Ventures launched in late 2023 with a clear mission.
Supporting Immigrant Founders Across Key Industries
Maple Bridge Ventures invests in immigrant entrepreneurs creating innovative solutions. The fund focuses on four main sectors. These include agriculture, health, food, and enterprise technology.
“Immigrants are critical to Canada’s population and innovation economy,” said Agyemang, Managing Partner at Maple Bridge Ventures. The firm aims to leverage untapped potential within immigrant communities. “We want to leverage the immense potential within this community to tackle some of the country’s biggest challenges,” he added.
Eric Agyemang’s Journey from Ghana to Canadian Venture Capital
Agyemang’s path to venture capital began in Ghana. As a teenager, he participated in the Canada World Youth volunteer program. The program promotes youth leadership and international education for ages 15-35.
His first Canadian experience was in Souris, Prince Edward Island. The small town had only 1,000 residents. Eight other Ghanaian high school graduates joined him, along with nine Canadian colleagues.
The experience differed from his expectations. However, Agyemang fell in love with Canada through volunteering. After returning to Ghana, he worked on creating global change.
Building Experience Across Finance and Entrepreneurship
Agyemang spent several years working in Dublin, Ireland. He gained valuable international experience through volunteering and work. In 2009, he returned to Canada permanently.
Today, he brings over 15 years of diverse experience. His background spans entrepreneurship, trade finance, and early-stage investing. He also built ecosystems with a strong operational focus.
Before founding Maple Bridge, Agyemang worked at Export Development Canada (EDC). He spent nearly 10 years supporting Canadian companies’ global expansion. Additionally, he led strategic cross-border financing deals and partnerships.
Addressing the Investment Gap for Immigrant Entrepreneurs
Agyemang identified a significant funding challenge facing immigrant founders. Access to early-stage capital remains limited for this group. He left EDC to address this gap directly.
Maple Bridge Ventures provides more than just capital. The firm offers mentorship, resources, connections, and community support. These elements help immigrant founders transform ambition into measurable impact.
The venture capital firm bridges gaps that immigrant entrepreneurs commonly face. Its approach combines financial backing with comprehensive ecosystem support. This model aims to level the playing field.
The Critical Role of Immigrants in Canada’s Economy
Immigration drives Canada’s economic growth significantly. It accounts for almost 100% of the country’s labour force growth. Moreover, roughly 75% of Canada’s population growth comes from immigration.
Most immigrants arrive in the economic category. This demographic brings valuable skills and entrepreneurial spirit. Their contributions reshape industries and drive innovation nationwide.
Immigrant founders represent about one-third of all Canadian entrepreneurs. That number is expected to rise to 42% by 2034. Despite this growing presence, funding challenges persist.
Strong Backing from Strategic Investors
The latest fundraise attracted major anchor investors. Farm Credit Canada (FCC) and Realize Capital Partners led the round. Their participation validates Maple Bridge’s mission and approach.
“FCC is proud to invest in Maple Bridge Ventures because it backs an underserved population that is a vital source of innovation and entrepreneurship in Canadian agriculture and food,” said Adam Smalley, Managing Director at FCC Capital. He emphasized the fund’s role in strengthening food security. The investment unlocks new ideas that benefit Canadian families.
Realize Capital Partners shares similar objectives. “At Realize Capital Partners, we are focused on building a robust portfolio while accelerating social equity,” said Lars Boggild, Portfolio Manager. The firm views Maple Bridge as driving targeted support for impactful businesses.
Investment Strategy and Fund Structure
Maple Bridge Ventures will make initial investments ranging from $250,000 to $1 million. The fund reserves additional capital for follow-on rounds. This structure supports companies throughout their growth journey.
Mission-aligned Canadian foundations also back the fund. Vancouver Foundation and Fairmount Foundation joined as investors. Strategic industry leaders like Mark Zekulin, former CEO of Canopy Growth, provide additional support.
The diverse investor base reflects confidence in the fund’s model. It also demonstrates growing recognition of immigrant founders’ potential. This backing provides both capital and credibility.
Expanding the Leadership Team
Two experienced venture professionals recently joined Maple Bridge’s leadership. Billy Lai became CFO and Venture Partner. He previously served as Principal at iGan Partners.
Shelley Li joined as Principal. She brings experience from CIBC Innovation Banking and Silicon Valley Bank. These additions strengthen the fund’s operational capabilities.
The expanded team enhances Maple Bridge’s ability to support portfolio companies. Their combined expertise spans finance, banking, and venture operations. This knowledge benefits immigrant founders navigating complex growth challenges.
Agyemang’s Vision for the Next Decade
Agyemang has set an ambitious goal for Maple Bridge Ventures. He aims to invest in 100 game-changing immigrant founders over 10 years. This target reflects his commitment to systemic change.
His track record demonstrates dedication to mission-driven work. Agyemang served as President of the Board at Ottawa Community Immigrant Services Organization. He also held a Governor position on Algonquin College’s Board.
These leadership roles prepared him for venture capital. They provided insights into immigrant challenges and opportunities. His community connections strengthen Maple Bridge’s ecosystem approach.
Recognition and Educational Background
Agyemang’s community service has earned multiple honors. He received the Young Achiever’s Award and Forty Under 40 Award. The University of Ottawa granted him the Alumni Excellence Award for Community Service.
His educational credentials span business, finance, and social impact. He holds a Diploma in Business Administration from Algonquin College. Additionally, he earned an MBA with a Certificate in Social Impact from Queen’s University.
Agyemang also completed a Certificate in Sustainable Finance from the University of Cambridge. His Honours Bachelor of Commerce comes from the University of Ottawa. This diverse education informs his investment approach.
Impact on Canadian Innovation Ecosystem
Maple Bridge Ventures represents a significant shift in Canadian venture capital. The fund addresses a documented gap in early-stage funding. Its success could inspire similar initiatives nationwide.
Immigrant founders bring unique perspectives to problem-solving. They leverage global connections and diverse experiences. These qualities position them to develop solutions for worldwide challenges.
By supporting these entrepreneurs, Maple Bridge strengthens Canada’s innovation economy. The fund helps ensure diverse voices shape technological advancement. This approach benefits all Canadians through more inclusive innovation.
