Five years after its founding, UCeed has established itself as Canada's premier university-based venture fund, achieving a significant milestone with $30 million under management. This philanthropic-powered initiative continues to transform how universities fuel innovation and drive economic growth across the country.
Bridging Innovation and Commercialization
UCeed operates as a unique venture fund that accelerates university and community-based startup companies through critical development phases. The organization provides comprehensive support that includes funding, training, mentoring, and guidance during the crucial transition between innovation demonstration and full commercialization.
Peter Santosham, executive director and managing partner of UCeed, brings substantial experience to his role. Having studied for his MBA at the University of Calgary's Haskayne School of Business after moving to the city 25 years ago, Santosham previously served as director of corporate development at Evolution Engineering and president and CEO at Oil Field Exchange.
His background also includes acting as president and CEO of University Technologies International, the university's technology transfer and intellectual property protection company, giving him deep insight into the institution's innovation objectives.
Major Success Story: Hyperlume Acquisition
The fund recently celebrated its first portfolio exit with the acquisition of UCeed-backed Hyperlume by Credo Technology Group. Hyperlume, which developed microLED-based optical interconnect technology, was purchased by the San Jose, California-based company in a deal that returned 10 times UCeed's initial investment.
This successful acquisition not only validates UCeed's company selection process but also demonstrates the fund's ability to identify ventures with strong return potential. The proceeds from this exit will be reinvested into future research and innovation initiatives, continuing the cycle of support for emerging Canadian companies.
National Recognition and Future Impact
Within just five years, UCeed has gained national recognition as a leader in early-stage investment, setting what industry observers call the gold standard for due diligence. The fund continues to expand its reach across Canada's innovation landscape, reflecting the University of Calgary's commitment to translating academic research into practical, deep tech and science-based solutions.
Dr. Ed McCauley, university president and vice-chancellor, emphasizes that "UCeed is more than an investment fund — it's a launch pad for ideas that improve lives." He adds that "As Canada's entrepreneurial university, we're proud to champion researchers and founders who are translating discoveries into real-world solutions that benefit people, the planet and the economy."
The fund's growth trajectory and successful track record position it as a cornerstone of Canada's innovation ecosystem, combining philanthropic vision with strategic investment to nurture the next generation of groundbreaking Canadian companies.
