UWaterloo approves investment of up to $5M into local venture capital fund


The University of Waterloo has approved an investment of up to $5M into the Velocity Fund II (VFII), a for-profit venture capital fund that was recently launched out of UWaterloo’s Velocity incubator. VFII aims to provide early support for software and deeptech startups coming out of the Waterloo region. “The University’s donors have been yearning for the endowment to play a more active role investing in outstanding Waterloo startups, and we’re excited that this investment into the Velocity Fund II could be just the beginning, and at such an opportune point in the economic cycle,” said UWaterloo Finance & Investment Committee Chair Michael Ashmore.