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


FortuneUncensored Social Network Gab Raises $1 Million in Crowdfunding CampaignFortuneA crowdfunding campaign for Gab, a Twitter-like social network that touts its commitment to freedom of speech, surpassed $1 million yesterday. The company claims it is politically neutral and committ [...]

U.S. News & World ReportNo Cash for Hate, Say Mainstream Crowdfunding FirmsU.S. News & World ReportThe block on mainstream crowdfunding is just the latest blow to far-right activists operating online. In the last 24 hours, neo-Nazi website the Daily Stormer had its domain regi [...]

Baltimore SunHarford still opposes crowdfunding sites for school donationsBaltimore SunRaising money through online crowdfunding sites is an ideal way for teachers to find the funds to purchase classroom materials and should be restored, the head of the Harford County teachers' u [...]

FortuneDreamHost Sets Up Crowdfunding Page to Aid Trump Government FightFortuneThe Los Angeles-based web host DreamHost, which is fighting the Department of Justice over its attempt to seize records of visitors to an anti-Donald Trump website, has launched a crowdfunding campaign to a [...]

DualShockersBounty Battle Rolls out the White Carpet with Successful Crowdfunding CampaignDualShockersWhen we last checked in with the indie-obsessed fighting game, Bounty Battle, it was halfway through its $30,000 crowdfunding goal. Now with 3 days left to go, it's surpassed thi [...]

Crain's Cleveland Business'Smaller' gifts can go long way for Clinic's crowdfunding platformCrain's Cleveland BusinessFor an institution accustomed to securing multimillion-dollar donations, Cleveland Clinic's latest fundraising effort has some relatively [...]

GeekZing Smart Light Passes Crowdfunding Goal With Flying Colors ...GeekAt age 31, I still prefer to keep a light on in the hallway, illuminating my way to the bathroom in the middle of the night. (God forbid I step on the creeping cat—or ...and more » [...]

Business.comYou Oversold Your Crowdfunding Campaign – Now What?Business.comIf you've oversold, there's no way to go back in time and prevent it. Your next step should be to streamline what you can control. Crowdfunding can be an unpredictable, exciting experience. But reachi [...]

LITTLE GUIDANCE FROM IRS ON TAXING CROWDFUNDING CONTRIBUTIONSBloomberg BNAWhether it's a musician raising money to produce an album, an inventor with a great idea, or a family in distress that needs help, crowdfunding through platforms such as Indiegogo and Kickstarter has become [...]

ForbesWhat Works In Equity Crowdfunding -- Insights From ResearchForbesAs we have recently celebrated the fourth anniversary of the signing of the JOBS Act into law, it is a good time to take stock of the effect that the legislature had on equity crowdfunding in the United States. It [...]

CFB Finance


  • 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 |