Celtic House Venture Partners

Day-to-day investment decisions rest with Managing Partners David Adderley and Tom Valis for the core Canadian fund. Larry Liu, as Managing Partner of Celtic House Asia Partners, leads the Asia-focused vehicle alongside Partners Charlie Wang and Sky Yu. The two teams share the Celtic House brand but run independent investment committees and fundraising processes, with cross-referral of deal flow.

Celtic House Asia Partners was launched in 2019 by Larry Liu and Charlie Wang under a brand license and co-investment framework with Celtic House Venture Partners. Liu’s prior firm, GCI Capital, had been co-investing with Celtic House since 2015. Asia Partners maintains its own governance, fundraising, and portfolio of 30+ companies, with offices in Vancouver and reach across the Asian immigrant-founder network in North America and China.

The firm targets early-growth equity — companies that have established product-market fit and are ready to scale, rather than pre-revenue seed rounds. Celtic House does not disclose a standard check size, but its total deployment exceeds $650 million over 75 startups, and it structures some exposures through special purpose vehicles managed by its finance team.

Enterprise SaaS and applied AI dominate, with confirmed board seats at Auvik (cloud-based IT operations), Raven AI (manufacturing SaaS), and Enzuzo (consent management). The portfolio also includes logistics and last-mile delivery through UniUni, food tech via Fantuan and Big Way Hot Pot, and cross-border e-commerce logistics assets. The firm does not concentrate on hardware, deep biotech, or consumer marketplaces.

The core partnership leans on over two decades of Canadian technology corridor relationships — Ottawa, Waterloo, and Vancouver — combined with a proprietary network of immigrant founders through the Asia Partners franchise. Finance Director Denis Martel’s background at Wesley Clover, Sir Terence Matthews’ holding company, provides an additional channel into operator-led hardware-to-software succession plays.

No philanthropic or family-office entity is disclosed as directly attached to Celtic House. The firm operates as a venture capital manager for institutional, family office, and high-net-worth limited partners. Finance Director Denis Martel’s prior role at the private holding company of Sir Terence Matthews provides an indirect link to single-family-office financial discipline, but no shared balance sheet exists.

The firm reports 30 IPOs and M&A transactions over the past 20 years. Named realized exits include CanvasPop (acquired by Circle Graphics), Nuvyyo (acquired by E.W. Scripps), and Coherent Path (acquired by Movable Ink). The most visible pending liquidity event is the May 2026 announcement of UniUni’s reverse takeover of MAK Acquisition Corp., which would take the last-mile delivery platform public on the TSX (per firm website, May 2026).