Startup Visa

First Fund is proud to be one of the designated VCs in the Government of Canada Start-up Visa (SUV) Program. Founded by Samarth Chandola, who was also a new immigrant to Canada back in 2012, First Fund knows first-hand the challenges and dedication it takes to try to start, grow, and flourish a venture in a new and unfamiliar home. We are eager to support diversity and bring in vetted immigrant entrepreneurs with their innovative business ideas to benefit the Canadian economy.

Why Canada?

 

All good things happen in Canada - and this is no exception. The First Fund HQ is based in Downtown Vancouver, where the ocean meets the mountains with occasional sightings of the Northern Lights. 

 

While we love to invest in startups from all over the world, we also have a special place in our hearts for accelerating the growth of Canadian businesses or founders who are willing to move to the coldest country in the world. We have a very high quality of life in Canada, free universal healthcare, valuable government incentives and tax credits, some of the most gorgeous natural vistas in the world, and hey - not all parts of Canada are that cold, including where our HQ is in Vancouver. If you’re the right startup and founder(s), we will happily support your relocation to Canada.

Apply

If you are an enthusiastic entrepreneur who wants to bring your business to Canada and meet the Eligibility Criteria, please submit your pitch and ensure to indicate “Yes” under the Startup Visa question. We recommend submitting a pitch deck detailing your business idea and why you are the right team for it. 

FAQ

  • Once you submit your pitch to First Fund (see instructions above), we go through a quick 1-2 week review process. Shortlisted startups are invited on a call, and we aim to give SUV applicants a final decision within 4-6 weeks. For SUV applicants we would like to support, we will provide a Letter of Support and any other information required to submit your SUV application. Once your SUV application is submitted, please refer to the Processing Times section on this page for the most up to date time estimate. While waiting for your Permanent Residency may take some time, SUV applicants and their spouses will be eligible for expedited Work Permits within 2-3 months of the SUV application.

  • It varies on a case by case basis as our focus is to increase the birth rate of new startups, and so we prefer seeding a large number of startups. While our cheque sizes vary between $100K - $250K, we will invest a minimum of $200K for startups applying for the SUV program with First Fund.

  • Our team is familiar with the legal requirements to set up corporations in various provinces across Canada. We also have a fully managed backoffice dedicated to help provide any onboarding and/or ongoing support as needed, whether it’s with legal, accounting, or office space.

  • We will be able to help support migrating your assets and shareholding to a new corporation in Canada.

  • If you are in Canada under a Work/Study permit or another Visa, you are still eligible to apply for the SUV program. If you are already a Canadian Citizen or Permanent Resident, your startup will not be eligible for the SUV program; however, you are still welcome to submit your pitch to First Fund as we’re eager to invest in Canadian startups.

  • Yes, as long as they are eligible! Please refer to the eligibility criteria.

  • For eligible startups we choose to support, we can certainly help with this. We have a wide network of connections such as with fellow entrepreneurs, recruiters, and schools.

  • You can send us a request with details via the Contact page.

  • If you did not submit your pitch through our website (see instructions above) and spoke to one of our team members, the Letter of Support is likely not genuine. We would encourage you to do your due diligence and avoid any potential scams. When in doubt, let us know you received a Letter of Support via the Contact page and we will be in touch to verify.

For other FAQs not specific to the SUV program, please check here.