The Atlantic Women’s Venture Fund (AWVF) has officially launched its inaugural fund as the group looks to address, head-on, the existing gender imbalance in Canada’s venture capital ecosystem.
“Women entrepreneurs generate more revenues and more profits, and I have all of the data to back it up.”
Along with the fund launch, AWVF has also announced that Danielle Graham, formerly of Dream Maker Ventures, has joined to take a leading role in the funds investment activities. Graham is set to officially join Sandpiper as of June 1.
The fund, called Sandpiper Venture, will target early-stage women tech entrepreneurs across Canada “as a proactive and profitable business decision.”
“We as an economy are missing out on potential or missing out on innovation,” Graham said in an interview with BetaKit. “Women entrepreneurs generate more revenues and more profits, and I have all of the data to back it up … we’ve derived a lot of data points that show how problematic it is right now [that women receive less investment capital than men].”
Sandpiper is founded by a group of nine leading entrepreneurs, investors, and executives (in addition to Graham), each of whom invested in the fund and are part of its advisory committee.
Sandpiper’s investment team is made up of Rhiannon Davies, the former VP and board director at GrandVision N.V, Sarah Young, managing partner of public relations firm National, and Cathy Bennet, the former Newfoundland and Labrador finance minister. The three women have all personally invested in Sandpiper and will serve as general partners for the fund, making investment decisions alongside Graham, who will serve as Investment Principal.
Other notable investors in Sandpiper include Amy Risely, CEO of Skinfix, Shannon MacDonald, managing director of Accenture Canada, and Nicole LeBlanc, director of investments and partnerships at Sidewalk Labs, among others.
The AWVF has been working to launch Sandpiper over the past year, with a target size of $20 million. The fund is looking to raise capital from private and public investors and, to date, has closed 50 percent of its private capital goal. While Davies would not confirm the dollar amount raised, she told BetaKit it is less than $10 million. Sandpiper is still actively fundraising to reach its target.
Davies, who also co-founded the AWVF, told BetaKit the group is trying to create a platform to engage women as founders, investors, and mentors. Sandpiper, she explained, is the inaugural fund in that platform, with the intention of providing a base with enough capital to “make a difference.”
“For us, in general, it’s really about driving diversity and creating better companies and not sort of creating a parallel ecosystem that is all women for women,” she said. “But just recognizing that diversity makes better decision making, and if you have different lenses around your management table you’re going to build better businesses.”
The group behind the AWVF has been active in the Atlantic Canada entrepreneurial and tech space for some while, through programming and angel investing. Graham highlighted that the all-women team behind Sandpiper is purposeful.
“It’s an all women’s team, and that’s what’s unique about it.” – Danielle Graham, Sandpiper Ventures
“It’s an all women’s team, and that’s what’s unique about it,” she told BetaKit. “We have incredible women business leaders [backing Sandpiper] that have proven their acumen within multiple industries. [They have] built companies, they’ve enabled them to go internationally, they’ve done mergers and acquisitions … this is already a well-established community, and we want to enable that business leadership in the next generation of women.”
While investment in underrepresented founders and women-led companies has increased over the past number of years, women entrepreneurs and venture capitalists continue to receive significantly less capital than their male counterparts.
According to a Business Development Bank of Canada (BDC) report from 2019, women account for 28 percent of all entrepreneurs in Canada. However, other statistics show they raised just four percent of venture capital funding available last year.
When it comes to women in the VC space, the number of women in partnership roles increased over the past year, however, women-led funds only received 15 percent of available LP dollars in Canada.
LeBlanc told BetaKit that one of the “most exciting things” that has come out of building Sandpiper is actively engaging female business leaders in the Atlantic Canada region that may not have traditionally participated in the startup or innovation ecosystem.
“This is something that really grabbed their attention and they are now going to be participating in the fund, they’re now able to be advisors and board members to startups, they’re able to now participate more actively,” she said.
“Supporting women entrepreneurs is not anti-male,” added Graham. “It’s just about saying, ‘we’re connected on this level and you know what, it’s okay that men connect with each other. We just need more engagement.’”
Sandpiper plans to invest in pre-seed and seed deals, cutting cheques within the $250,000 to $500,000 range. With a target of $20 million, Sandpiper hopes to make 35 to 40 deals, keeping about 50 percent for follow-on investments. The fund plans to invest in companies that are led by women who have an equal equity share at the founder level.
Graham told BetaKit Sandpiper is looking to close the fund and begin investing within the next three to six months. She noted, however, that given the economic challenges Canadian startups are currently facing around COVID-19, Sandpiper is willing to close earlier in order to provide financial support, so as not to “lose valuable companies” that are currently struggling because of the pandemic.
Graham is joining the AWVF from Dream Maker Ventures where she served as principal. She joined what is the investment arm of Dream Maker Inc. last year as it looked to raise a $75 million Diversity Fund. While at Dream, Graham helped launch the Dream Network, an initiative meant to connect underrepresented founders with potential investment opportunities, as well as Dream Legacy Foundation’s Diversity Program initiative.
The Dream Legacy Foundation recently received support from Microsoft for Startups Canada to help diverse founders in the Canadian tech ecosystem.
Regarding her decision to move to Sandpiper, Graham told BetaKit, “without a woman [in a company leadership role], to me, what real impact am I making? I always defined it that way, and Sandpiper and the Atlantic Women’s Venture Fund have allowed me to unlock that capital [so] that I can now directly invest in the types of founders that I’ve been wanting to work with since I began.”
Graham, who also founded the first female-focused accelerator and bootcamp series in Canada, Fierce Founders, also recently helped launch The ArchAngel Network of Funds. An active angel investor, Graham will continue to serve as a venture partner for one of the network’s funds.
Just prior to announcing the launch of Sandpiper, the AWVF helped launch an initiative alongside Calgary-based angel investment platform The51. Dubbed Canada51, in reference to women being 51 percent of the global population, the initiative is about creating a formal, national collective of organizations and individuals supporting women entrepreneurs across the country.
“It’s time for us to invest in what looks like us,” said Shelley Kuipers, co-founder of The51, at the time. “We know we can transform Canada’s economy in this decade and beyond and our partnership with [the Atlantic Women’s Venture Fund] is pivotal to stitching this next economic wave together.”
While Sandpiper is based in Atlantic Canada, it plans to invest in women-led companies from across the country. Graham highlighted to BetaKit that even though Sandpiper is a women-led fund, it “welcomes people of all genders to invest as limited partners.”
TORONTO – Canada’s main stock index was up more than 250 points in late-morning trading, led by strength in the base metal and technology sectors, while U.S. stock markets also charged higher.
The S&P/TSX composite index was up 254.62 points at 23,847.22.
In New York, the Dow Jones industrial average was up 432.77 points at 41,935.87. The S&P 500 index was up 96.38 points at 5,714.64, while the Nasdaq composite was up 486.12 points at 18,059.42.
The Canadian dollar traded for 73.68 cents US compared with 73.58 cents US on Thursday.
The November crude oil contract was up 89 cents at US$70.77 per barrel and the October natural gas contract was down a penny at US2.27 per mmBTU.
The December gold contract was up US$9.40 at US$2,608.00 an ounce and the December copper contract was up four cents at US$4.33 a pound.
This report by The Canadian Press was first published Sept. 19, 2024.
Losing a loved one is never easy, and the legal steps that follow can add even more stress to an already difficult time.
For years, families in Vancouver (and Canada in general) have struggled with a complex probate process—filled with paperwork and legal challenges.
Thankfully, recent changes to Canada’s probate laws aim to make this process simpler and easier to navigate.
Let’s unearth how these updates can simplify the process for you and your family.
What is probate?
Probate might sound complicated, but it’s simply the legal process of settling someone’s estate after death.
Here’s how it works.
Validating the will. The court checks if the will is legal and valid.
Appointing an executor. If named in the will, the executor manages the estate. If not, the court appoints someone.
Settling debts and taxes. The executor (and you) pays debts and taxes before anything can be given.
Distributing the estate. Once everything is settled, the executor distributes the remaining assets according to the will or legal rules.
Probate ensures everything is done by the book, giving you peace of mind during a difficult time.
Recent Changes in Canadian Probate Laws
Several updates to probate law in the country are making the process smoother for you and your family.
Here’s a closer look at the fundamental changes that are making a real difference.
1) Virtual witnessing of wills
Now permanent in many provinces, including British Columbia, wills can be signed and witnessed remotely through video calls.
Such a change makes estate planning more accessible, especially for those in remote areas or with limited mobility.
2) Simplified process for small estates
Smaller estates, like those under 25,000 CAD in BC, now have a faster, simplified probate process.
Fewer forms and legal steps mean less hassle for families handling modest estates.
3) Substantial compliance for wills
Courts can now approve wills with minor errors if they reflect the person’s true intentions.
This update prevents unnecessary legal challenges and ensures the deceased’s wishes are respected.
These changes help make probate less stressful and more efficient for you and other families across Canada.
The Probate Process and You: The Role of a Probate Lawyer
(Image: Freepik.com)
Working with a probate lawyer in Vancouver can significantly simplify the probate process, especially given the city’s complex legal landscape.
Here’s how they can help.
Navigating the legal process
Probate lawyers ensure all legal steps are followed, preventing costly mistakes and ensuring the estate is managed properly.
Handling paperwork and deadlines
They manage all the paperwork and court deadlines, taking the burden off of you during this difficult time.
Resolving disputes
If conflicts arise, probate lawyers resolve them, avoiding legal battles.
Providing you peace of mind
With a probate lawyer’s expertise, you can trust that the estate is being handled efficiently and according to the law.
With a skilled probate lawyer, you can ensure the entire process is smooth and stress-free.
Why These Changes Matter
The updates to probate law make a big difference for Canadian families. Here’s why.
Less stress for you. Simplified processes mean you can focus on grieving, not paperwork.
Faster estate settlements. Estates are settled more quickly, so beneficiaries don’t face long delays.
Fewer disputes. Courts can now honor will with minor errors, reducing family conflicts.
Accessible for everyone. Virtual witnessing and easier rules for small estates make probate more accessible for everyone, no matter where you live.
With these changes, probate becomes smoother and more manageable for you and your family.
How to Prepare for the Probate Process
Even with the recent changes, being prepared makes probate smoother. Here are a few steps to help you prepare.
Create a will. Ensure a valid will is in place to avoid complications.
Choose an executor. Pick someone responsible for managing the estate and discuss their role with them.
Organize documents. Keep key financial and legal documents in one place for easy access.
Talk to your family. Have open conversations with your family to prevent future misunderstandings.
Get legal advice. Consult with a probate lawyer to ensure everything is legally sound and up-to-date.
These simple steps make the probate process easier for everyone involved.
Wrapping Up: Making Probate Easier in Vancouver
Recent updates in probate law are simplifying the process for families, from virtual witnessing to easier estate rules. These reforms are designed to ease the burden, helping you focus on what matters—grieving and respecting your dead loved ones’ final wishes.
Despite these changes, it’s best to consult a probate lawyer to ensure you can manage everything properly. Remember, they’re here to help you during this difficult time.
TORONTO – Canada’s main stock index was higher in late-morning trading, helped by strength in energy stocks, while U.S. stock markets also moved up.
The S&P/TSX composite index was up 34.91 points at 23,736.98.
In New York, the Dow Jones industrial average was up 178.05 points at 41,800.13. The S&P 500 index was up 28.38 points at 5,661.47, while the Nasdaq composite was up 133.17 points at 17,725.30.
The Canadian dollar traded for 73.56 cents US compared with 73.57 cents US on Monday.
The November crude oil contract was up 68 cents at US$69.70 per barrel and the October natural gas contract was up three cents at US$2.40 per mmBTU.
The December gold contract was down US$7.80 at US$2,601.10 an ounce and the December copper contract was up a penny at US$4.28 a pound.
This report by The Canadian Press was first published Sept. 17, 2024.
