# Upper Canada Ventures

Upper Canada Ventures is a Venture Capital based in Toronto, Canada.

## Overview

- **Organization type:** Venture Capital
- **Headquarters:** Toronto, Canada
- **Region:** North America
- **Address:** Toronto, Canada
- **Founded:** 2006
- **Assets under management:** Undisclosed
- **Website:** www.ucventuresinc.com
- **LinkedIn:** https://linkedin.com/company/upper-canada-ventures

## Regulatory record

- **Reports private funds:** No

## About

Upper Canada Ventures Inc. acts as a financial resource or investor, providing assistance and direction to help clients determine and execute plans to achieve their goals. Launched in 2006, it considers investment opportunities and provides financial services to growing companies, primarily in technology and service related businesses. Its focus is on giving clients and investees advice and assistance to make informed decisions.

## Sectors

- Enterprise Software
- Energy Transition & Renewables
- Semiconductors
- Telecom & Media

## People

- Graham Matthews — Principal and Founder

## Questions

### Who runs investment decisions at Upper Canada Ventures?

Graham Matthews, the founder and sole principal, makes all investment decisions. Matthews established the firm in 2006 after serving as a General Partner at VenGrowth Private Equity Partners and Vice-President of Investments at Working Ventures, where he was directly involved in over $190 million of venture capital deployment (per firm website, 2006).

### How does Upper Canada Ventures source investment opportunities?

The firm sources opportunities through Matthews' personal network built over 19 years in Canadian private equity. There is no disclosed institutional origination platform or LP base. His origination is complemented by his contract CFO work, which can surface early-stage companies seeking both operational and financial support.

### Does Upper Canada Ventures raise outside capital or invest only principal funds?

Upper Canada Ventures invests the principal's own capital and does not disclose raising external funds. The firm does not market a commingled fund vehicle. Its investment holdings include direct equity positions and limited partnership interests, but no information on external investors is provided (per firm website, 2006).

### What investment stages does Upper Canada Ventures target?

The firm focuses on early-stage businesses, specifically startups and early venture-stage companies in technology and service sectors. Matthews' track record includes founding-stage involvement, such as co-founding Q9 Networks, and later-stage CFO support for operating companies like Peraso Technologies and evandtec.

### How is Upper Canada Ventures different from a traditional venture capital fund?

Upper Canada Ventures is structured as a personal investment and advisory practice, not an institutional fund. Matthews personally commits capital and simultaneously serves as a fractional CFO to investee companies, blending principal investing with financial stewardship — a model that imposes no fund-life restrictions but limits capacity to his individual bandwidth.

## Related profiles

- [UP.Partners](https://altss.com/profile/up-partners)
- [Valor Capital Group](https://altss.com/profile/valor-capital-group)

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Last updated: 2026-08-11T15:08:22.057Z

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