Over time, we’re certainly seeing more and more interest in institutional LPs, more and more interest in the Canadian ecosystem, which I think is a net positive,” Golden said. “Whereas before, the Canadian ecosystem was largely funded by Canadian institutions, so I think that’s really positive, because you have to sort of be judged on the on the world stage. And we’re starting to meet that bar as both an ecosystem and as a fund.”

Golden said that the game plan with this Fund IV doesn’t really change in terms of their investment targets; while Golden initially set out to invest primarily in companies working on software products for mobile devices, it eventually shifted to a strategy of backing North American seed stage, mission-driven founders working on venture-scale opportunities across a range of verticals and categories.