Vancouver Startup Weeve Acquired by LX Ventures

Nerf Warriors

Weeve’s straight-shooting startup team acquired by LX Ventures Inc.

What-do-you-get when you cross a surge in crowdsourced investment funding with a software package focused on raising funds for non-profits? A prime investment opportunity, apparently.
Today, Vancouver’s LX Ventures announced its acquisition of Vancouver startup Weeve Ventures Inc. for an undisclosed sum. According to LX Ventures’ COO Ray Walia (and Launch Academy Executive Director and Co-Founder), “Weeve’s crowdfunding technology is a natural fit for our FinTech market vertical. Together, we will internally innovate and deliver revolutionary funding solutions across multiple market sectors.”
Since its launch in July 2012 as a tool for non-profits to raise funds via socially connected, tech savvy investors, Weeve proved itself as a startup to watch with press coverage from Digital Journal, TechCrunch, Techvibes, and The Huffington Post. Weeve CEO and Co-Founder Alex Chuang proved himself to not only be a talented entrepreneur, but also an indispensable asset. Named as Program Director for Launch Academy, Chuang has been busy not only building his own startup but also assisting in the mentorship process of new arrivals to the Launch Academy family.
Joining in the acquisition celebrations are fellow Weeve co-founders Trevor Loke (COO) and Vincent Chu (CTO). The LX Ventures acquisition is no small feat. Headed by President and CEO Mike Edwards (Initio Group, GrowLab, AreaConnect), the LX board is a virtual who’s who of the Vancouver investment community. Along with Edwards and Walia, LX Ventures includes Director and Executive Chairman Keir Reynolds (Mammoth Market Advisory), CFO Kevin Rathburn (Newstrike Capital/Watershed Capital Partners), Director Derek Lew (Initio Group), and Director Brady Fletcher (Sea to Sky Equities). LX Ventures’ focus is on bringing together Canadian tech, investment, legal, and financial entrepreneurs in order to capitalize on early stage growth. LX Ventures’ launch/integrate/acquire strategy seems to be working. Weeve’s fellow GrowLab 2012 participant Skyscraper (financially backed by LX Ventures also), completed a $500,000 seed round raise in December 2012. For a startup launched less than a year ago, Weeve (and Skyscraper) have proven themselves to be on the fast track for startup success. “Our world is moving towards a more democratic future where voices can be heard and dreams can be fulfilled. Weeve still stands by this belief and LX Ventures is here to make it come true.” – Alex Chuang, Weeve Ventures Inc.
The future is most certainly looking bright for the Weeve team, not to mention Launch Academy and GrowLab. Could be there is something in the water in Vancouver, or it could just be that Vancouver’s beauty is the perfect breeding ground for startup success stories. GrowLab’s Winter 2012 cohort will be graduating next week. Demo Day is set for February 20th at Vancouver’s District 319 (sold out). Top investors (including attendees from Founder Fuel and HyperDrive), entrepreneurs, and technology journalists will be on hand to watch the latest flock of GrowLab grads get their wings. Based upon the success of last year’s flock, this year’s grads just might want to be prepared for the accolades that will potentially come their way. The startup and investment scene in Vancouver is booming; Weeve’s acquisition by LX Ventures is only the tip of the proverbial investment iceberg.

Source: Digital Journal – Eleanor Wall

HEADLINE NEWS

This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news [...]

TechCrunchFormer Gawker employees are crowdfunding an effort to buy Gawker.comTechCrunchWhile Univision acquired most of Gawker Media's sites last year (and renamed them as the Gizmodo Media Group), the deal didn't include Gawker itself. In fact, BuzzFeed reported last month [...]

CurbedHistoric French chateau now has 13000 owners from crowdfundingCurbedThe Chateau de la Mothe-Chandeniers has had many owners since its construction in the 13th century. Now more so than ever. Over 13,000 strangers have recently banded together to save the fairytale home—which fea [...]

Crowdfunding For French CastlesNPRYou too can own a French chateau, in part, anyway. Romain Delaume, CEO of Dartagnans, tells NPR's Scott Simon about a crowdfunding effort underway to preserve La Mothe-Chandeniers. SCOTT SIMON, HOST: What if I told you that for about $60, you cou [...]

Comics BeatCrowdfunding Watch: Women to the RescueComics BeatAlas, another Monday begins. We're all here at our computers, staring at the screen until our eyeballs turn into raisins. I'll try to keep this week's crowdfunding round-up short and sweet. This week we'r [...]

ForbesCrowdfunding Do's And Dont's From iFundWomen's Karen CahnForbesDuring our conversation, she was transparent in sharing that her first software company, VProud, failed because she “did everything backwards” and spent too much time trying to perfect the product. “Pe [...]

Small Business TrendsButcher Shop Startup Discovers Crowdfunding Magic Via IntuitSmall Business TrendsWhat startup entrepreneur hasn't dreamed of borrowing Cinderella's fairy godmother or Aladdin's genie to make their every wish come true? While they weren't necess [...]

Boing BoingHelping kids play with danger: crowdfunding a log-splitter, designed for childrenBoing BoingRisky play is good for kids: it lets them test their boundaries in an exhilarating, vivid way -- and it's been all but entirely engineered out of contemporary child-rearing. Tha [...]

VentureBeat10 reasons the $1 million crowdfunding cap should be $20 millionVentureBeatIt's been18 months since the final rule of the JOBS Act went into effect, allowing equity crowdfunding. In those 18 months, everything proponents of the rule said would happen (and none of what [...]

Devon LiveNew crowdfunding appeal to replant devastated Devon woodlandDevon LiveA crowdfunding campaign has been launched to raise the thousands of pounds needed to replant a much loved area of Devon woodland devastated by disease. Earlier this year, under direction of the Forestry Co [...]

CFB Finance

Marketwired

  • Crowdfunding
  • Crowdfund
  • Peer to Peer Lending
  • FinTech
  • Reg A+
  • Reg CF
  • Crowdfunding USA

Press Release

Live Crowdfunding .tv

What's Next Step in Regulation A+ JOBS ACTS Title IIII :L Interview : Steve Cinelli with Brian Korn Securities and Crowdfunding/Peer-to-Peer Lending Lawyer, Watch more video library | Conference | Interview | Campaign Showcase | Research | Education |