Why Do We Do What We Do?
The Past
In 2012, First Fund Founder Samarth Chandola was a new immigrant to Canada. He knew no one in the country, did not have a strong understanding of fundraising and finance, and had $700 in his pocket as all his money in the world. Poor in cash but rich in drive, passion, and a determination to succeed, he got his break when he bumped into an Angel Investor while on a trip to get his internet fixed, who agreed to give him $35,000 to launch his startup. Though not a lot, it was enough for him to build his MVP and leverage that to raise further financing within six months.
Eight years and two successful exits later, Samarth has generated more than 55x returns for his investors. He has been awarded the 2014 BC Business Top 30 under 30 award, as well as the 2017 Canada’s Next 150 Award by the Toronto Stock Exchange.
Two exits and years of startup grit later, Samarth has become a champion for entrepreneurs starting new ventures in Canada.
First Fund Founder Samarth Chandola in 2012 hammering away on his Chromebook, shortly after raising $35,000 for his first startup.
The Future
Despite now raising more than $20 Million for his tech startups in his career, Samarth still looks back at that first $35,000 cheque as the most important investment he ever got. That initial cheque started everything, and gave a young entrepreneur a chance at success.
Through First Fund, we are now looking to pay it forward. We recognize that there are amazing entrepreneurs out there who may not have the financial background to self-fund their own initial startup journey, but who have the potential to build amazing companies through a mix of startup cash and a bit of coaching.
First Fund seeks to give promising entrepreneurs a shot at success by investing up to $250,000 as a first cheque in their startup ideas to allow them to get started on the journey, while offering access to a strategic network of resources and future funding partners.
