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Venture Capital
ventureswest.com

Investments

132

Portfolio Exits

41

Funds

14

About Ventures West

Ventures West is an active venture capital partner that invests in early stage technology companies across Canada from offices in Vancouver and Toronto. Established in the Canadian venture capital market for over 35 years, Ventures West has formed eight venture capital funds which total over $700 million and has invested in more than 150 companies.

Headquarters Location

Suite 400 999 West Hastings St.

Vancouver, British Columbia, V6C 2W2,

Canada

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Latest Ventures West News

Debt, Losses Sink Indigenous-Owned Canadian Carrier Featured On "Ice Road Truckers"

Dec 6, 2019

Share: Tli Cho Landtran Transport , a trucking company once featured on the TV series "Ice Road Truckers," is shutting down along with several affiliates that hauled freight in some of Canada's most treacherous freight lanes but faced a staggering load of debt and mounting losses in the millions. Tli Cho Landtran, Ventures West Transport and two affiliates incurred C$18 million in losses in the fiscal year ending in March, their owner, Tlicho Investment Corp, said in a Nov. 27 court filing in Alberta seeking creditor protection. By the end of October, their debt reached C$60 million with assets worth about C$40 million. A hearing tomorrow, Dec. 6, will decide whether Tlicho Investment — owned by the indigenous government of the Tlicho First Nation — can extend creditor protection and proceed with a plan to sell off their assets. Most of the companies' 40 employees will likely lose their jobs. The carriers also had about 40 owner-operators. The fatal blow came from the loss of their single largest customer, a diamond mine in the Northwest Territories, which accounted for 27% of revenue, according to court filings. "Without this business, they could not continue to operate without sustaining significant losses. Unfortunately, the decision was made to close the Transport Companies operations and sell their assets consisting mainly of trucks and trailers," Tlicho Investment CEO Mark Brajer said in a statement. Still, the filing notes that the diamond mine's business had itself been unprofitable and that efforts to secure a better contract failed. The trucking companies effectively operated an intermingled entity headquartered in Alberta. They handled a mix of truckload, less than truckload, bulk and specialized transport, most notably using winter and ice roads to access the most remote areas of western Canada, the Yukon and the Northwest Territories. The History Channel's reality series "Ice Road Truckers" included Tli Cho's drivers and dispatchers, chronicling the dangerous work. Representatives from Tli Cho Transport and Tlicho Investment could not be reached for comment. Canada has seen relatively few trucking failures in 2019 despite a weaker, choppy freight market. Ontario-based FTI filed for bankruptcy in September after closing alongside its U.S. sibling HVH.

Ventures West Investments

132 Investments

Ventures West has made 132 investments. Their latest investment was in Zymeworks as part of their Series A - III on October 10, 2014.

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Ventures West Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

10/23/2014

Series A - III

Zymeworks

$2.3M

No

2

5/6/2014

Unattributed VC

AudienceView

Yes

1

1/9/2014

Series A - II

Zymeworks

$15M

No

2

4/1/2013

Series C

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$99M

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10

9/28/2012

Debt - V

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$99M

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10

Date

10/23/2014

5/6/2014

1/9/2014

4/1/2013

9/28/2012

Round

Series A - III

Unattributed VC

Series A - II

Series C

Debt - V

Company

Zymeworks

AudienceView

Zymeworks

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Amount

$2.3M

$15M

$99M

$99M

New?

No

Yes

No

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Co-Investors

Sources

2

1

2

10

10

Ventures West Portfolio Exits

41 Portfolio Exits

Ventures West has 41 portfolio exits. Their latest portfolio exit was Presidio Bank on October 14, 2019.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

10/14/2019

Acq - P2P

$99M

4

4/28/2017

IPO

$99M

Public

2

3/30/2016

IPO

$99M

Public

2

5/8/2014

IPO

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$99M

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10

3/7/2014

IPO

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$99M

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10

Date

10/14/2019

4/28/2017

3/30/2016

5/8/2014

3/7/2014

Exit

Acq - P2P

IPO

IPO

IPO

IPO

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

Public

Public

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Sources

4

2

2

10

10

Ventures West Fund History

14 Fund Histories

Ventures West has 14 funds, including Ventures West 8.

Closing Date

Fund

Fund Type

Status

Amount

Sources

12/31/2004

Ventures West 8

Early-Stage Venture Capital

Closed

$198.13M

1

2/1/2000

Ventures West 7

Early-Stage Venture Capital

Closed

$161.94M

1

12/31/1997

Eastern Technology Seed Investment Fund

Early-Stage Venture Capital

Closed

$17.52M

1

12/31/1997

Western Technology Seed Investment Fund

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$99M

10

12/31/1997

Ventures West VI

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$99M

10

Closing Date

12/31/2004

2/1/2000

12/31/1997

12/31/1997

12/31/1997

Fund

Ventures West 8

Ventures West 7

Eastern Technology Seed Investment Fund

Western Technology Seed Investment Fund

Ventures West VI

Fund Type

Early-Stage Venture Capital

Early-Stage Venture Capital

Early-Stage Venture Capital

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Status

Closed

Closed

Closed

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Amount

$198.13M

$161.94M

$17.52M

$99M

$99M

Sources

1

1

1

10

10

Ventures West Team

8 Team Members

Ventures West has 8 team members, including current Chief Financial Officer, Howard Riback.

Name

Work History

Title

Status

Howard Riback

Chief Financial Officer

Current

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Name

Howard Riback

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Work History

Title

Chief Financial Officer

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Status

Current

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