Addressing a Critical Need

The establishment of Trillick ventures comes at a crucial time for Manitoba’s burgeoning tech sector. Many promising startups face significant hurdles in securing early-stage funding, ofen forcing them to seek opportunities elsewhere. This “brain drain” not only stifles local innovation but also hinders the province’s overall economic potential.Trillick Ventures aims to provide a much-needed lifeline, offering financial support and strategic guidance to help thes startups thrive within Manitoba.

We need to invest in Manitoba businesses for the growth of our economy and investing in our tech startups is a terrific way to do that.
Iain Crozier, Founder, Trillick Ventures Inc.

Fund Details and Investment Strategy

Trillick Ventures has already made significant strides, with an initial fund closing on Feb. 19, followed by a second close on March 7.The fund has secured nearly one-third of its planned $15 million target, attracting investments from 18 individuals.To date, Trillick has invested in three companies, signaling its commitment to rapidly deploying capital into promising ventures.

The fund’s investment strategy focuses on pre-seed and seed-stage investments in 20 to 25 technology startups. A quarter of the total funds are reserved for follow-on investments, allowing trillick to double down on its most successful portfolio companies. While the primary focus is on Manitoba-based startups, with $10 million earmarked for extraordinary local founders, the fund also allocates $5 million for opportunities across Canada.

The Vision Behind Trillick

Iain Crozier’s journey to establishing Trillick ventures is rooted in his diverse experiences in business and innovation. After studying at Western University and working in his family’s business, Crozier Enterprises, he ventured into entrepreneurship, co-founding Taistr, a wine suggestion platform. His move to Calgary in 2021 proved pivotal, as he witnessed firsthand the city’s rapid ascent as a tech hub.

Inspired by Calgary’s success, crozier returned to Winnipeg in 2023 with a vision to replicate that growth in Manitoba. He recognized the challenges faced by local founders in securing capital and saw an chance to bridge this gap through Trillick Ventures.

Being in Calgary from 2021 to 2023, I got a front-row seat to see how that community really grew into the fastest growing tech community in North America and I thought we could absolutely replicate that here in Manitoba. And what we need is more investment into our Manitoban startups.
Iain Crozier, Founder, Trillick Ventures Inc.

Community Support and Future Outlook

Trillick Ventures has garnered significant support from the local investment community. Angel investor Sandra Foster expressed her excitement upon learning about Trillick’s focus on seed-stage companies, leading her to invest in the fund.Foster believes that Trillick’s investments will help retain talented entrepreneurs in Manitoba, fostering job creation and economic prosperity.

Money is the fuel. We’ve got the talent and we can have many, many more success stories coming out of Manitoba, which means more jobs and more economic prosperity for the province.
Sandra Foster,Angel Investor

Ken Ross,CEO of the Manitoba First Fund (MFF),echoed this sentiment,emphasizing the critical need that Trillick is addressing in the province. MFF, established to facilitate access to capital for Manitoba businesses, is also exploring partnerships with funds specializing in startups, further bolstering the local ecosystem.

I really would like to see Trillick succeed — there’s no question about that. There is a good need and, along with Trillick, we’re trying with Manitoba First to find good, successful funds that will bring their capital and focus to Manitoba businesses.
Ken Ross, CEO, Manitoba First Fund

Trillick’s investment committee includes Mark Hlady, founder and CEO of SimpleHedge; Noah Palansky, co-founder and CEO of taiv; and Saif hashmi, co-founder and principal of the BDC Seed venture Fund. This diverse team brings a wealth of experience and expertise to the fund’s investment decisions.

Crozier emphasizes the importance of identifying companies with a strong value proposition, a large addressable market, and a competitive advantage. He also stresses the importance of character and resourcefulness in founders, recognizing the inherent challenges of building a successful startup.

Building a startup is really hard and it’s filled with highs and lows. That’s why these intangibles are so integral. They need to have the character and the grit to see through the hard times.
Iain Crozier,Founder,Trillick Ventures Inc.

Initial Investments and Future Plans

Trillick’s initial investments include Parallel, an AI-powered shopping platform, and 3Common, a software company catering to event-driven businesses.The fund is also planning to recruit capital from other Canadian funds, further expanding its reach and impact.

We’re trying to bring capital from outside the province into our province to invest in our founders, which is integral for our economic growth.
Iain Crozier, Founder, Trillick Ventures Inc.