It’s a tough time for many in the venture business, with many firms struggling to raise new funds. But don’t tell that to Boris Wertz, the Vancouver, B.C.-based super angel and former COO of AbeBooks.
After successfully raising an oversubscribed $15 million venture fund last summer, Wertz has attracted more cash from Business Development Bank of Canada. The organization is leading a $4 million investment in Wertz’s Version One Ventures. Other investors in the fund include former Yahoo president Jeff Mallett and others.
Wertz typically invests $250,000 to $500,000, targeting companies along the West Coast. He’s an investor in TechStars Seattle grad GroupTalent, as well as Seattle retailer Julep.
He’s made 11 investments to date, investing $2.5 million across sectors such as e-commerce, software-as-a-service and online marketplaces.
“It’s fairly simple: we’re looking for passionate entrepreneurs who are trying to solve a big problem with a strong product vision,” said Wertz of his recent fundraising success. The firm plans to invest in more than two dozen startups in the coming years.
BDC is one of the largest institutional investors in Canada, and vice president Senia Rapisarda noted that Wertz “possess a unique combination of operational and venture investment experience.”
Previously on GeekWire: Super angel Boris Wertz launches $15M VC fund Version One Ventures