News Summary

Simple Ventures, a Toronto-based venture studio, announced the successful closing of a $15 million CAD funding round aimed at revitalizing the Canadian startup ecosystem by fostering innovation and encouraging Canadian talent to remain in the country. The studio, led by CEO Rachel Zimmer and chair Michael Katchen, aims to counter the decline in domestic entrepreneurship by launching new startups and creating jobs. Notable backers include Shopify president Harley Finkelstein, Knix founder Joanna Griffiths, and major institutions like TD Innovation Partners and Sun Life. Since its inception, Simple Ventures has established three startups and plans to create 25 new Canadian companies by 2030. The studio’s mission aligns with the broader ‘buy Canadian’ movement and the desire to ensure greater domestic capacity.