Top Down Ventures Announces First Close of US$25M Founders Fund I
VANCOUVER, BC, Oct. 21, 2024 /PRNewswire/ - Top Down Ventures, the premier venture capital firm founded by industry visionary Chris Day, has announced the first close of its US$25M Founders Fund, designed to fuel early-stage SaaS companies within the Managed Service Provider (MSP) sector.
Building on its innovative venture studio model, Top Down empowers MSP software startups with not only capital but also unparalleled operational expertise and a proven scaling playbook. The firm's General Partners - Chris Day, Joel Abramson and Mark Scott - boast a remarkable track record in the MSP space, including founding and scaling companies like Fully Managed (acquired by TELUS), IT Glue (acquired by Kaseya), N-able (NYSE:NABL), ScalePad, and Produce8. With prior investments in leading MSP software firms such as Backup Radar, Quoter, Control Map and most recently Benji Pays.
Focused Expertise in the MSP SaaS Space
"We are thrilled with this milestone, which reflects the confidence of MSP founders and executives who make up the majority of our Limited Partners," said Joel Abramson, Managing Partner at Top Down. "Our deep sector focus and hands-on approach are already driving momentum as we anticipate closing three new SaaS investments in Q4."
Top Down's Founders Fund targets high-potential SaaS companies generating $1M+ in annual recurring revenue (ARR), with Seed or Series A investments up to $3M. With a carefully curated network of Limited Partners and Operating Advisors – including MSP veterans like Dan Wensley, Janice Siddons and Ryan Voegeli – the fund is uniquely positioned to amplify the success of its portfolio companies.
Driving Innovation in a Booming Industry
"We've been at the forefront of several firsts in the MSP industry, and this fund is the next one," said Mark Scott, Managing Partner at Top Down. "Our capital, SaaS playbook, and venture studio combined with our global network, provide an unparalleled force multiplier for SaaS startups in an industry that's on track to reach $1 trillion by 2030."
Top Down not only offers financial backing but also leverages its deep operational experience to drive growth for its portfolio companies. The firm's venture studio model includes expert guidance in product development, go-to-market strategies, and team building, ensuring that founders receive both strategic and tactical support.
To learn more, SaaS founders and LP investors can visit www.topdown.com and sign up for The Future of MSP Work, a thought leadership series exploring key trends and opportunities in the MSP sector.
About Top Down Ventures
Top Down is a leading venture capital firm specializing in early-stage Software-as-a-Service (SaaS) companies in the Managed Service Provider (MSP) market. The firm's Founders Fund I focuses on SaaS companies with $1M+ ARR, offering Seed or Series A investments of up to $3M. With a venture studio model that combines operational support and scaling expertise, Top Down helps MSP software companies realize their full potential. For more information, visit www.topdown.com
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SOURCE Top Down Ventures