Velocity Fund

Velocity Fund is a pre-seed and seed stage venture capital fund that spun out of the University of Waterloo's Velocity incubator. It invests in early-stage companies across software, deep tech, and health tech. The original fund was established in 2019, replacing a grant system from the incubator's pitch competition. A successor fund, Velocity Fund II (VFII), announced a first close of US$10 million in May 2025 with a total target of US$25 million. The fund is managed independently of the university, though the University of Waterloo is a Limited Partner. The associated Velocity incubator was founded in 2008 and is described as Canada's most productive early-stage incubator.