On the TechTO stage ×1
First seen on the TechTO stage in 2020. Every talk is searchable — ask the archive about Shayn ↗
In their words
He proposed this concept that you could marry a physical real estate footprint with an economic incentive to every party involved, so that they each came out on the winning side.
We're leveraging B-class office buildings, five hundred to a thousand square feet, limited windows, where it's not really palatable for a five to ten person office — but it's a perfect location for a small gym, so landlords are more than happy to give it up.
The service providers started booking more and more hours per week and migrating their entire businesses over to Silofit, and at that point that flywheel started to kick in.
More from TechTO ×1
Around the web ×1
Quick answers
Who is Shayn Diamond?
A partner at Whitecap Venture Partners in Toronto, where he has invested since 2015. He came to venture from corporate law at Wildeboer Dellelce and holds a JD and MBA from Queen's University. Whitecap backs seed and Series A B2B software and medtech companies across Canada.
What does he look for before investing?
Evidence that the economics work for everyone in the chain, then proof of repeat usage. On the TechTO stage in April 2020 he described spending about six months with Silofit before investing, and said the moment that decided it was watching individual trainers go from one booked hour a week to ten or fifteen.
What did Whitecap invest in at Silofit?
Whitecap took part in Silofit's roughly $1-million seed round alongside New York sports and entertainment fund Courtside Ventures, as Diamond described on the TechTO stage on 2020-04-09. He noted Whitecap is primarily a fund with a small allocation reserved for seed deals.