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 fund evolved from a grant program for a pitch competition into its first formal investment fund in 2019. A successor fund, Velocity Fund II (VFII), announced a first close of US$10 million in May 2025, and is notably the first venture fund in Canada to be backed by a university endowment (University of Waterloo). Velocity Fund II is independently managed by General Partners Akash Vaswani and Ross Robinson.