Version One Ventures

Version One Ventures
Name	Version One Ventures
Founded	2012
Founder	Boris Wertz
Headquarters	Vancouver, British Columbia
Industry	Venture capital
Products	Early-stage investments, seed funding

Version One Ventures is an early-stage venture capital firm based in Vancouver, British Columbia, founded in 2012 by Boris Wertz. The firm focuses on seed and pre-seed investments in technology startups across North America, often participating in syndicates with firms such as Sequoia Capital, Andreessen Horowitz, Benchmark (venture capital firm), Accel (company), and Y Combinator. Its activity intersects with startup ecosystems including Silicon Valley, Toronto, Vancouver, Seattle, and New York City.

History

Version One Ventures was established in 2012 amid a resurgence of angel investing and the expansion of incubators like Y Combinator, Techstars, 500 Startups, and Plug and Play Tech Center. Founder Boris Wertz previously engaged with companies linked to Amazon (company), eBay, and AOL through roles that connected him to networks including Kleiner Perkins, GV (company), and RRE Ventures. Early investments paralleled funding rounds led by First Round Capital, Battery Ventures, and Foundry Group, as the firm positioned itself alongside accelerators such as MaRS Discovery District and Communitech in Canada. Version One's timeline reflects interactions with policy moments like the expansion of Startup Visa programs and market cycles marked by events such as the 2015–2016 stock market selloff and the 2020 COVID-19 pandemic.

Investment Strategy and Focus

The firm emphasizes software-as-a-service models, marketplaces, developer tools, and consumer platforms, aligning its thesis with companies similar to those funded by Stripe, Dropbox, Slack Technologies, Twilio, and GitHub. Version One often leads seed rounds or co-invests with funds like Greylock Partners, Union Square Ventures, Index Ventures, and Lightspeed Venture Partners. Its strategy incorporates founder-friendly terms inspired by practices from Paul Graham and institutions such as Harvard Business School, Stanford University, and University of British Columbia entrepreneur programs. Sector focus includes fintech aligned with players like PayPal, healthtech adjacent to Teladoc Health, and developer infrastructure resonant with HashiCorp and Docker (software).

Portfolio Companies

Version One's portfolio includes startups across fintech, marketplaces, developer tools, and consumer internet. Notable participations have placed it alongside companies like Ada (company), Clio (software), Figure 1 (company), Unbounce, and Heyday Health. Other portfolio names connect to firms comparable to Shopify, Hootsuite, Ritual (company), Later (company), and OpenTable. Co-investments and syndicates have tied Version One to rounds involving Coinbase, Canva, Klaviyo, Notion Labs, and Figma. The firm also engaged with hardware-adjacent startups similar to DJI, GoPro, and Fitbit through thematic bets.

Notable Exits and Outcomes

Exits in Version One's history include acquisitions, mergers, and IPOs where portfolio companies were acquired by strategic buyers such as Microsoft, Salesforce, Amazon (company), Apple Inc., and Google LLC. Some companies achieved public listings similar to Shopify, Slack Technologies, and Twilio in broader market cohorts. Other outcomes mirrored acquisitions by firms like Zendesk, Intuit, DoorDash, and Expedia Group. The firm’s track record intersects with exit events comparable to the 2013 Yahoo! acquisitions era, the 2018–2019 mergers and acquisitions wave, and the post-SPAC market activity.

Team and Leadership

The founding general partner Boris Wertz leads investment decisions, drawing on networks connected to figures like Naval Ravikant, Reid Hoffman, Chris Sacca, Marc Andreessen, and Ben Horowitz. The team includes partners and associates who have backgrounds at startups and funds such as Google LLC, Facebook, Amazon (company), Microsoft, Shopify, Bessemer Venture Partners, and Thrive Capital. Advisors and limited partners link to institutions like BC Tech Association, Startup Grind, Vancouver Economic Commission, and academic partners including University of Toronto entrepreneurship programs.

Philanthropy and Community Involvement

Version One participates in mentorship and community programs aligned with accelerators and non-profits such as Founder Institute, Techstars, MaRS Discovery District, Communitech, and Vancouver Economic Commission. The firm and its partners contribute to initiatives supporting diversity and inclusion in tech associated with organizations like Women Who Code, Black Girls Code, Indigenous Innovation Initiative, and university entrepreneurship funds at Stanford University and University of British Columbia. They also engage with civic and public policy discussions involving agencies and events like Innovate BC, TED (conference), and SXSW.

Category:Venture capital firms