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Ripple Ventures

Ripple Ventures is a Toronto early-stage venture firm founded in 2018 by Matt Cohen, an institutional trader turned operator turned investor. It writes $250,000 to $1 million USD cheques into inception-stage companies — often pre-product or pre-traction — across B2B SaaS, developer tools, climate software and AI.

Venture capitalTorontoFounded 2018rippleventures.com
$250K–$1M USDcheque size, per the firm's own siteRipple Ventures
$10M CADFund I, closed for early-stage investingBetaKit
$14M CADinitial close on its Opportunity FundBetaKit
$7.5Mcommitted to Fund III by the federal Venture Capital Catalyst Initiative, with RBCx as lead anchor LP (2023-10-16)BetaKit

The people

What they build

Inception-stage cheques into pre-incorporation, pre-product and pre-traction companies
Hands-on operating support, led or co-led rounds and concentrated portfolios

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Working at Ripple Ventures

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About

Ripple Ventures started as Matt Cohen's angel investing, done on the side while he built US enterprise sales for Street Context, and became a fund in 2018. Cohen told the FintechTO stage in November 2018 that the name already covered his early-stage cheques before it was a full-time job. Fund I closed at $10 million CAD; the firm later closed an initial $14 million CAD for an Opportunity Fund to follow on at seed and early stage, and raised Fund III with RBCx as lead anchor limited partner and $7.5 million from the federal Venture Capital Catalyst Initiative. It opened a Vancouver office in 2023 alongside a Toronto headquarters, and describes itself as backing founders with earned insight or technical depth, usually leading or co-leading the round. Portfolio companies named in Fund III's first deployments include Asepha, NetNow, Centro Commerce, Sabba Health and Scalestack; earlier investments include Zenhub and Voiceflow.

Backers

A venture firm rather than a venture-backed company. Its limited partners include RBCx as lead anchor LP of Fund III and the federal government through the Venture Capital Catalyst Initiative.

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Quick answers

What does Ripple Ventures invest in?

Inception-stage software companies, which it defines as possibly pre-incorporation, pre-product or pre-traction. Cheques run $250,000 to $1 million USD and the firm usually leads or co-leads, holding a concentrated portfolio. Its stated areas are B2B SaaS, developer software, climate software and AI.

Who runs Ripple Ventures?

Matt Cohen, who founded the firm in 2018 and is its managing partner. The investment team has since included Dominic Lau, who became the firm's first Vancouver-based partner in 2023.

Where is Ripple Ventures based?

Toronto, with a second office opened in Vancouver's Mount Pleasant in 2023 as part of what the firm described as a coast-to-coast Fund III.

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Maintained by TechTO · facts sourced and dated · last reviewed Aug 17, 2026