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Hootsuite Founder Ryan Holmes and Manny Padda Launch LOI Venture, a New $20 Million VC Fund to Invest in Young Founders Under Age 30
Monday, December 13, 2021
Vancouver, BC, December 13, 2021--(T-Net)--Hootsuite Founder Ryan Holmes and Entrepreneur/Investor Manny Padda announced today that they have launched a new $20 million venture fund, LOI Venture.
LOI Venture will invest in young company founders under the age of 30.
In 2017, Ryan Holmes launched a mentorship program for young entrepreneurs called League of Innovators because he felt there was a shortage of mentorship for young entrepreneurs.
Ryan Holmes, Board member and Founder, Hootsuite
Today, Holmes together with Manny Padda are teaming up to announce a $20M venture fund because they feel there is a shortage of capital for founders under 30.
Having started his first business in high school - pre-social media days - Ryan believes there is no reason age should hinder somebody with a bright idea.
It took him 20 years to go from his first entrepreneurial endeavour to building Hootsuite.
With the tools now available at our fingertips, Holmes believes that the youth of today can shorten that timeline significantly.
Manny Padda, Founder and Managing Director, New Avenue Capital & PM Search Partners (& Chairman & Co-Founder, Smile Innovations Group Inc.)
Holmes and Padda are launching LOI Venture so they can accelerate more early-stage startups who enrol in the LOI - League of Innovators programs.
Since the start, LOI has witnessed almost a billion dollars of enterprise value created from 250+ founders in residence. Some notable names include:
"It's time to remove the last barrier for young founders to succeed. Who's ready to see more young founders in Canada?" said the company in its announcement.
Want to get involved?
- Got questions? Say hi.
- Want to partner with LOI? Reach out here.
- Getting curious? Follow LOI on Twitter.
- Wanna pitch them with your idea? Click here.
About LOI Venture
LOI Venture is a $20M Pre-Seed Fund focused on founders aged 15-30 attending the LOI Program. The fund was co-founded by Ryan Holmes and Manny Padda to help accelerate young founders in Canada. Visit them online at https://www.loi.vc/
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