P - 416.961.5355
F - 416.961.3232
E - info@whitecapvp.com

22 St. Clair Avenue East
Suite 1010
Toronto, ON
M4T 2S3

Partnering With Visionary Entrepreneurs to Build Industry Leading Companies

Our Investment Portfolio

Whitecap is currently investing out of Fund IV, a venture fund supported by leading Limited Partners

We have built our business over the past 30 years by working closely with innovative founders. Our track record of category leading companies is a testament to the deep relationships we have built.

PartnerStack's platform equips companies with the tools required to build, manage, and scale channel partner programs.

Vetster is an innovative pet wellness platform that connects pet parents to online pet care.

Felix is a full-stack telehealth offering combined with a direct-to-consumer medication delivery platform.

Silofit offers private, on-demand gyms that are rented by the hour by fitness professionals and their clients.

Nicoya has developed Alto, a powerful and affordable surface plasmon resonance (SPR) instrument used to measure molecular interactions.

Bolt Logistics is a leading Canadian technology-enabled logistics and last-mile delivery provider for businesses of all sizes.

Bold Commerce is a software development company that provides tools to enable ecommerce merchants.

Real Matters is a leading network management services platform for the mortgage and insurance industries.

Clearwater Clinical's Shoebox platform is the leading cloud connected mobile Audiological testing platform for the hearing care industry.

IRYStec’s Perceptual Display Platform (PDP) embedded software technology replicates how the human eye sees .

Bold Commerce is a software development company that provides tools to enable ecommerce merchants.

Affinio's Marketing Intelligence Platform provides agencies and brands with the ability to understand, at scale, their audiences by leveraging the social graph.

Classcraft reimagines learning as a collaborative game where students create avatars and progress through the school year earning points awarded by their teacher.

Qvella is a molecular diagnostics company driving dramatically faster time to results in bacteriology.

MotherRaw is a leading producer of raw, vegan & organic salad dressings, dips, spreads and sauces.

Indicative Investments

Real Matters is a leading network management services platform for the mortgage and insurance industries.

Avo Photonics provides advanced manufacturing services for photonic and microelectronic customers in the communications, military, aerospace, medical and industrial markets.

Protenergy is a leading producer of private label soup broth, soups, gravies and sauces, counting over three quarters of North America’s largest grocery retailers as its customers.

Indicative Investments
Broadband Networks Inc.

Broadband Networks Inc. was a leader in the design and manufacture of broadband wireless networks operating at frequencies of between 2 and 42 gigahertz (GHz).

Electrophotonics Corp. was imagined and built to design innovative components and modules for optical networks.

Genus Medical

Genus Medical designed, manufactured and distributed medical devices for the home care and rehab markets worldwide.

iMagicTV, offered service providers an open and flexible platform for creating, delivering and managing digital television and rich media services over broadband DSL networks.

Loran was a systems integrator for high-speed networks.

PC DOCS was a leading worldwide provider of open document management systems for enterprise networks, the Internet, and corporate Intranets.

Positron Fiber Systems

Positron Fibre Systems was a leading manufacturer of telecommunications equipment built for high reliability and critical service applications.

Operator of Ontario’s Electronic Land Registration System.

About Us Our History

Whitecap Venture Partners is an early stage venture capital fund investing in high growth companies across three verticals:

Information Tech. Food Tech. Med Tech.

Our team of operators and investment professionals partner with entrepreneurs in verticals where we have deep domain expertise and can bring significant operational and strategic value to companies and founders.

Whitecap Venture Partners began as the venture capital arm of Whitecastle Investments Limited, a family office founded in 1959 by A.E. (Eph) Diamond. Eph was a founder and original CEO of the Cadillac Fairview Corporation, one of North America’s premier real estate companies. Carey Diamond joined Whitecastle in 1989 and in the early 1990’s Whitecap was formed to invest and work closely with high growth predominantly technology companies.

In 2015 the decision was made to create Whitecap III, a $100M venture capital fund with numerous high net worth and institutional limited partners. In 2019, Whitecap IV held its final close with $125M of commitments.

Eph’s legacy of integrity and fairness in his business dealings, a focus on philanthropy combined with pride, humility and a great sense of humour has inspired the team at Whitecap Venture Partners to continue his honourable traditions.

A Proud History

The roots of Whitecap Venture Partners originated when the late Ephraim (Eph) Diamond incorporated Whitecastle Investments Limited as an investment vehicle for his family in 1959. Eph was the founding partner and President of Cadillac Development Corporation from 1953 to 1974 (predecessor to the Cadillac Fairview Corporation).

Eph became Chairman of the Board and CEO of Cadillac Fairview Corporation from 1974 until his retirement in 1979. Carey Diamond, Eph’s son, joined Whitecastle in 1989 and the decision was made to devote more of its energy and capital to investing in and assisting emerging growth companies (with a focus on technology companies). Whitecastle enjoyed many years of success, blending good business sense with the highest level of integrity.

Whitecap & Portfolio Company News

Silofit secures $15.25 Million CAD to bring micro-gym model to United States

Vetster is on a global mission to advance pet care and raises C$12.25M

PartnerStack aims to capitalize on channel sales demand with C$35M Series B round

IKEA Canada partners with Second Closet and Lion Electric for last mile delivery in Greater Montreal, Toronto, and Vancouver markets

Follow Us On Twitter @WhitecapVP

Investment Team

The Whitecap Venture Partners team is a group of former operators and investors who have invested together for over 30 years.

Carey DiamondManaging Partner

Blaine HobsonChair of Investment Committee

Blaine is currently Chairman of the Whitecap IV Investment Committee and Partner in Fund III. Blaine is an experienced operator, manager, and investor with more than 30 years of experience successfully starting, building and running companies. He has direct leadership experience as a founder and CEO in a variety of diverse industries including automotive manufacturing, medical tech, telecom, and food tech. This “in the trenches” experience allows Blaine to connect with young entrepreneurs and contribute tremendously to Whitecap’s “value add”.

As a Partner in Whitecap I, II & III, Blaine has had active involvement in a multitude of successful companies in telecom, software, medical tech, advanced photonics, and food tech.

Blaine is active in the community, including his involvement with the Steps Foundation and Hospice King.

He holds a degree from the Richard Ivey School of Business at the University of Western Ontario.

Russell SamuelsPartner

Russell Samuels is a Partner at Whitecap Venture Partners. Russell works closely with Reunion Foods (Mother Raw), Nicoya Lifesciences, Felix Health and PartnerStack. Additionally, Russell worked with Clearwater Clinical and Irystec prior to their acquisitions.

Prior to joining Whitecap, Russell was a Senior Manager on the Corporate & Business Development team at Freshbooks, a growth stage startup and North America’s 2nd largest cloud accounting provider. Russell also spent three years as an Associate at Mantella Venture Partners, a $20M seed stage venture capital fund in Toronto, where he worked on a number of new and follow-on investments including: SurfEasy (Acquired by Opera Software), Unata (Acquired by Instacart), Brave Commerce (Acquired by Rogers, TSX: RCI) and others. Prior to Mantella Venture Partners, Russell spent 2 years as an Analyst at Canada Pension Plan Investment Board (“CPPIB”) in the Private Investments group.

Russell holds an HBA from the Richard Ivey School of Business and a JD from the University of Western Ontario.

Shayn DiamondPartner

Melissa BelbeckSenior Associate

Melissa is a Senior Associate at Whitecap Venture Partners. Previously, she was a Business Operations and Strategy manager at Ritual, a mobile order ahead app based in Toronto. At Ritual, Melissa ran major strategic projects and experiments. Prior to Ritual, Melissa worked as a Senior Product Manager at BMO, managing home financing products. Melissa started her career in management consulting, working in the Digital practice at Oliver Wyman, where she worked with leading Technology and Financial Services companies on strategic projects.

Melissa holds an HBA from the Ivey School of Business, and an MBA from the Kellogg School of Business.

Sarah HartkornAssociate

Sarah is an Associate at Whitecap Venture Partners.

Prior to joining the team, she co-founded a software startup for freelancers within the wellness and personal care space called Primped. Before making the entrepreneurial leap, Sarah worked in investment banking at TD Securities covering the communications, media, and technology sectors.

Sarah holds an MBA from McMaster University and a BMOS degree with a specialization in Finance from the University of Western Ontario.

Natalie SmithSenior Analyst

Natalie is a Senior Analyst at Whitecap Venture Partners.

Prior to joining Whitecap, Natalie worked as an Innovation Consultant for Deloitte. She also has experience working in biomedical fields such as tissue engineering, spine biomechanics, and user accessibility.

Natalie holds a degree in Engineering Physics with a specialty in Mechanical Engineering from Queen’s University. She also holds a MMIE (Master of Management in Innovation and Entrepreneurship) from the same school.

Kim CooteVP Finance

Kim joined Whitecap’s legacy company, Whitecastle Investments Limited in 1997 as a junior accountant and throughout her career she has held varying positions of increasing responsibility including financial analyst and controller.

As Vice-President Finance, Kim is currently responsible for the accounting, reporting and overall administration of the Whitecastle group of companies.  She also manages the accounting and reporting for Whitecap Venture Partners and works closely with Whitecastle New Urban Fund.

Kim is a Chartered Professional Accountant who holds an Honours Bachelor of Arts degree in Economics from York University.  She became a CPA, CGA in 2000.

Swetha ThommandramController

Swetha is the Controller for the Whitecastle group of companies including Whitecap Venture Partners. She is responsible for the accounting, financial and tax reporting and general day to day operations.

Prior to joining Whitecastle, Swetha was the Manager, Investor Operations at Northleaf Capital Partners, a Toronto-based private markets investment manager, with a focus on their infrastructure strategy.

Swetha holds a Bachelor of Commerce degree from the University of Toronto and became a CPA, CMA in 2013.

Alice CelisAccounting Manager

Alice joined Whitecap’s legacy company, Whitecastle Investments Limited in 2015 and has over 20 years of financial accounting experience. As Accounting Manager, Alice is responsible for maintaining the general accounting and reporting function for the Whitecastle group of companies and Whitecap Venture Partners. She is a Chartered Professional Accountant and holds a Bachelor’s degree (with Honors) in Business Administration from the Philippine School of Business Administration. She became a CPA, CGA in 2008.

Cathy NissenExecutive Assistant

Cathy joined Whitecastle Investments Limited in 2007, after a long career in residential real estate administration. As Executive Assistant, she is responsible for providing a wide variety of high-level support to the CEO as well as the entire team at Whitecastle and Whitecap.

Advisory Board

Jason SmithReal Matters (Executive Chairman and former CEO)

Jason Smith was appointed Executive Chairman of Real Matters (TSX: REAL) in November 2020 after serving as the Company’s Chief Executive Officer since founding Real Matters in 2004. Under his leadership, Real Matters disrupted the North American appraisal industry and became the largest provider of residential real estate appraisals in the United States. Mr. Smith raised more than $200 million as a private company and completed five acquisitions leading up to Real Matters’ initial public offering in May 2017. Prior to founding Real Matters, Mr. Smith was a founder, director and executive of Basis100, which was one of the largest publicly-traded technology providers within the mortgage banking industry at that time.

With more than 25 years of experience building and leading companies in North America, Mr. Smith is a highly-regarded technology entrepreneur. He was named CIX Innovator of the Year in 2017 and was recognized as Entrepreneur of the Year by E&Y in 2016. Mr. Smith was also inducted into the Canadian Mortgage Hall of Fame in 2014.

Mr. Smith is a member of the advisory board of VERTU Capital and Whitecap Venture Partners. He is also Chairman of the Holland Bloorview Kids Rehabilitation Hospital Foundation.

Dr. Tino AlavieQvella (CEO & Co-Founder)

Dr. Tino Alavie is the President and CEO of Qvella. Tino has the primary responsibility of leading the company’s full range of Research and Development initiatives.

Prior to founding Qvella, he was founder, CEO and executive chairman of NOVX Systems Inc., a medical device company that focuses on physician productivity tools including diagnostic solutions for point of care testing and Electronic Medical Records. He was also co-founder and President of ElectroPhotonics Corporation, leading it through two successful rounds of private placement and acquisition by E-TEK Dynamics.

Tino has served as a technical advisor and board member for a number of technology companies. He is a seminar leader and guest lecturer with the Faculty of Applied Science and Engineering at the University of Toronto and has authored more than 50 journal articles and conference papers. He was recently awarded Florida Tech’s College of Engineering Outstanding Alumnus Award for 2013. Tino earned his Ph.D. at Florida Institute of Technology in addition to completing post-doctoral work in fiber optics sensing at the University of Toronto.

Michael WeiderSHOEBOX Inc. (Former CEO, Previously Clearwater Clinical)

Michael Weider is the former CEO of SHOEBOX Inc. (previously Clearwater Clinical), the leading provider of mobile audiology solutions. Mr. Weider has over 25 years of experience building software companies.

Mr. Weider has founded two startups, Watchfire and Blaze, which were acquired by IBM and Akamai respectively. He has served as an independent board member in companies such as Skycure (acquired by Symantec) and Desktone (acquired by VMware). He is also currently a board member of Klipfolio and the Youth Services Bureau Charitable Foundation of Ottawa.

Andrew MacdonaldUber (SVP, Mobility and Business Operations)

Andrew Macdonald is the Senior Vice President of Uber’s Mobility and Business Operations (NYSE: UBER). Prior to this role he served as the Senior Vice President of Uber’s Global Rides and Platform.

Uber is a continuation of Andrew’s startup ambitions, as he founded two startups in the years before his time at Uber. Prior to entrepreneurial pursuits, Andrew was a management consultant with Bain & Company, covering clients in technology, financial services and manufacturing.

Originally from Toronto, Andrew is passionate about giving back to the local tech community. He sits on the Advisory Board of Ryerson DMZ, Canada’s top university business incubator, and advises a number of other local start-ups.

Robert CourteauAltus Group (Former CEO), SAP (Former North America President)

Robert Courteau is the former Chief Executive Officer of Altus Group (TSX: AIF), a leading provider of independent advisory services, software and data solutions to the global commercial real estate industry. An accomplished senior executive, Robert has extensive experience in leading new business initiatives and achieving growth objectives with some of the world’s foremost companies.

Robert was a corporate executive with SAP AG (ETR: SAP), a global market leader in enterprise application software, including roles as the President, North America and Global Chief Operating Officer. He has been an active board member of numerous North American not-for-profit organizations and has served on boards of several publicly-traded companies.

Robert has a Bachelor of Commerce degree from Concordia University where he was also the recipient of an Honorary Doctorate. In recognition of his commitment to education and endorsement of international standards and regulation, Robert was awarded an Honorary Fellowship with RICS (FRICS) in 2014.

Jodi KovitzVetster (Chief Growth Officer)

Jodi Kovitz is the Chief Growth Officer of Vetster (a WCIV portfolio company) and was most recently the CEO of #movethedial, a global movement and organization to advance the participation and leadership of all women in tech. She is a strategic Diversity, Inclusion and Equity consultant for a Financial Service company and is currently also advising a rapidly scaling technology company on revenue growth. Jodi has been featured in Forbes Women, the Globe and Mail, Report on Business, on Business News Network multiple times and in the Huffington Post. She has been named twice one of Canada’s Top 100 most powerful women (2017, 2019), the IABC/Toronto Communicator of the Year (2019), a top 25 Women of Influence in Canada (2018) and a Toronto Adweek Brandstar (2018).

In 2018, she also co-chaired the re-election campaign for Toronto’s Mayor, John Tory. Jodi is passionate about philanthropy, and has had the honor of creating #tech4sickkids, an initiative to raise $25M to build the most innovative emergency suite and AI services in pediatric medicine in the world out of Toronto. She is also on the board of Toronto Global focused on Foreign Direct investment in Canada, and sits on 4 advisory boards of tech companies. Jodi also authored “Go out of Your Way: How one small act can move the dial in life and business”, which was endorsed by Sheryl Sandberg. Jodi holds an HBA from Ivey and an LLB from Osgoode Hall Law School.