HIGHLINE, the pre-seed venture capital organization with offices in Toronto and Vancouver, released a transparency report through its newsletter last week. The basic statistics they provided for their companies provide a glimpse into the impact that the three-year-old accelerator (a merger of Toronto’s Extreme Startups and Vancouver’s GrowLab) is having on the startup community in Canada.
From their newsletter:
There isn’t enough transparency in the industry so we’re committed to start providing it on a regular basis. Out of 59 investments:
39 are active with our unrealized portfolio tracking at over 5.1x our initial investments
6 have yielded meaningful exits in the millions each
4 have returned capital better than your typical stock market investment
10 have been nominally acqui-hired or had “old yeller moments” with most of the founders recycled back into the ecosystem rocking out at the next big thing
The portfolio has raised $88M in follow-on funding, created $180M equity value, and 78% have secured up-rounds since our investment. A solid foundational start with a 226% follow-on funding increase over the past 12 months.
Lauren Robinson, Global Operations Director at HIGHLINE told the Dx3 Digest that the statistics provide just a taste of what the organization can accomplish.
“For a venture term which is at least a ten-year [plan], we’ve had some pretty good wins over a short period of time which is hopefully a validation of the longer term successes of what we can produce,” she said.
Robinson added that the idea is to go beyond demonstrating the economic activity that HIGHLINE has produced and instead show the impact.
“There’s a lot of duplication of effort that’s happening right now within certain startup ecosystems,” she said. “We want to make sure that any company that we help advise, that it’s all about capital-efficient activity and having the most impact.”
Most recently, HIGHLINE’s Procurify announced a $4M round including investments from Point Nine Capital, Nexus VP and the BDC in late July.