01
Frontier, not frothy
We underwrite science before story. More than half of the portfolio is built on primary research — laboratory notebooks, patents, and theses we can defend in front of the people who wrote them.
A small firm,
writing long cheques
to difficult sciences.
Finance is a research-driven venture practice investing at Series A through C in the companies doing the patient, unglamorous, architectural work beneath the technologies the rest of the market is only beginning to name.
$2.4B
Assets Under Management
24
Active Portfolio Companies
9
Realized Exits
12
Years Under the Same Mandate
Thesis
Three commitments the firm has never quietly revised.
02
Patient by architecture
Twelve-year vehicles. LP-aligned carry. No cross-fund recycling. The compounding works precisely because we stop checking, and the structure is what makes the restraint possible.
03
Concentration over coverage
Six investments a year, on average. We build the kind of conviction that survives a second winter — which means saying no to nine out of ten meetings we genuinely enjoy.
Partners
Four people, one investment committee, no observers.
Elena Marchetti
Managing Partner · Healthcare · Life Sciences
Former growth investor at Sequoia; PhD, Computational Biology, MIT. Led the firm's Series B into BioSync in 2019 (exited 2023). Based in Vancouver, reading rooms of Milan and Kyoto.
Yusuf Okonkwo
Partner · Infrastructure · AI
Founder of two networking-compiler startups (second acquired by Cisco, 2018). Computer Science, UC Berkeley. Writes the firm's quarterly letter on model-inference economics.
Aila Sørensen
Partner · Climate · Energy Transition
Previously at Norrsken Foundation and the Danish Climate Investment Fund; MA, Philosophy, Oxford. Chairs the firm's climate-dedicated vehicle and the Vancouver–Reykjavík research exchange.
Rohan Bhat
Principal · Emerging Markets · Quantitative
Formerly on the rates desk at Jane Street; MS, Applied Mathematics, Princeton. Leads portfolio risk, liquidity modelling, and our Southeast Asia investment committee.
Record
A firm is what it has done, in the order it did it.
- 2014
Founded in Vancouver with a $40M debut fund and a one-page memo.
- 2017
Fund II closes at $180M. First realized exit: Pavilion Medical.
- 2019
Opens research desk in Berlin. BioSync leads the year's deployments.
- 2021
Fund III closes at $1.1B — the largest Canadian deep-tech vintage on record.
- 2023
BioSync acquisition returns 4.2× fund-over-basis to LPs.
- 2024
Crosses $2B AUM. Launches a dedicated climate vehicle with a 15-year horizon.
- 2026
Twenty-four active companies. Nine exits. The same six partners since 2019.
Correspondence
If you are building something the market cannot yet describe, we are the kind of investor worth a long letter.