Pender Growth Fund
Growth equityVancouver · Seed–Growth · 9 people tracked
Investment thesis
Pender pursues a value-investing philosophy, estimating a company's intrinsic value and investing at a discount with a margin of safety to reduce risk and support long-term performance. Applied to the fund's private equity and venture holdings, this contrarian approach favors unpopular opportunities and quality assets acquired below intrinsic value. The fund backs exceptional entrepreneurs and teams building world-class technology products, with an emphasis on emerging growth companies across enterprise software, e-commerce, healthtech and related sectors, largely based in British Columbia and across North America.
Source: firm website, verified Aug 3, 2026.
Team · 9 people
from the firm's website & public directories
What they invest in
from 15 of 23 portfolio companiesSaaS ×7Enterprise Software ×6AI & Machine Learning ×5Cleantech ×3Deep Tech ×3Energy ×3Cloud Computing ×2Hardware ×2
HQs:Canada×4United States×2
Investments · 23 tracked
founders shown can be your intro pathBy year:2018 · 22016 · 12015 · 12014 · 15 dated
D-Wave is a quantum computing company offering both annealing and gate-model systems for solving optimization, simulation, and modeling problems.
Cloud ComputingDeep TechQuantum ComputingBurnaby, US
J. Haig Deb Farris(Director, Promoter)Geordie Rose(Executive Officer, Promoter)inEric Ladizinsky(Executive Officer)Diane Nguyen(Executive Officer)inAlan E. Baratz(Executive Officer, Director)inJohn M. Markovich(Executive Officer)in
Co-investorsDefined VCDraper AssociatesFuture VenturesKensington Capital Partners LimitedRuna CapitalLockheed Martin Ventures
General Fusion develops Magnetized Target Fusion (MTF) technology, combining plasma physics, mechanical compression, and liquid metal systems to build a practical, cost-competitive fusion power plant.
CleantechDeep TechEnergyBurnaby, CA
Michael Laberge(Executive Officer)Michel Laberge(Executive Officer)Nathan Gilliland(Executive Officer, Director)Susan Koch(Executive Officer)Greg Twinney(Executive Officer, Director)Megan Wilson(Chief Strategy Officer)
Co-investorsBraemar Energy VenturesChrysalixEvolution VC PartnersHelium-3 VenturesJIMCONew Ground Ventures+4 more
Sangoma TeamHub is a unified business communications app combining voice calling, SMS/MMS, chat, file sharing, video meetings, and a receptionist dashboard.
Cloud ComputingEnterprise SoftwareHardwareSaaSMarkham
David Mandelstam(Director)William Wignall(Executive Officer, Director)Tony Lewis(Executive Officer)Charles SalamehinAl Guarino(Director)Yves Laliberte(Director)
Tantalus provides grid modernization technology for electric utilities, centered on a modular platform that delivers data interoperability across metering devices, substations, distribution circuits, and distributed energy resources from multiple vendors.
CleantechEnergyIoTBurnaby, US
Dermot O'Leary(Executive Officer)Peter Londa(Executive Officer, Director)
BoardAllen Beasley(Director)John McEwen(Director)Francis Harvey(Director)
Co-investorsConnecticut InnovationsRedpoint Ventures
Penders Software Holdings acquires and holds software companies as a permanent home, providing growth capital and strategic support while letting existing founders and management continue running the business.
Enterprise SoftwareSaaSVancouver, CA
Checkfront provides booking management software that lets experience-based businesses handle online reservations, real-time availability, resource management, automated notifications, digital waivers, pricing, deposits, and booking channel integrations.
SaaSSales TechTravel & Hospitality
Co-investorsFramework Venture PartnersPender Ventures
Clarius manufactures portable handheld ultrasound scanners with AI-enhanced imaging for point-of-care use by clinicians.
AI & Machine LearningDigital HealthMedical Devices
Laurent Pelissier
Co-investorsInBC Investment Corp.
IFS Copperleaf provides enterprise decision analytics and asset investment planning software that helps electric utilities evaluate, optimize, and prioritize capital investment portfolios across their asset base.
AI & Machine LearningCleantechEnergyEnterprise SoftwareSaaS
Co-investorsNational Grid Partners
BuildDirect is an online marketplace for home improvement and flooring products such as hardwood, tile, and other building materials, selling directly to homeowners and contractors.
Construction TechE-commerceMarketplaces
Co-investorsCowles Ventures
A web development agency that delivers custom digital solutions for B2B eCommerce, retail, manufacturing, healthcare, and professional services sectors.
Developer ToolsEnterprise SoftwareMarketing TechSaaS
INETCO provides real-time fraud detection and prevention solutions for digital payments and payment-powered industries.
AI & Machine LearningCybersecurityEnterprise SoftwareFintech
Co-investorsSFU VentureLabsWUTIF Capital
Portfolio company (board position held by Pender team member).
Entity in which Pender Growth Fund holds a proportionate NAV interest.
TrueContext (formerly ProntoForms) offers a low-code mobile field intelligence platform that lets frontline teams deploy connected mobile workflows and forms, capture AI-ready field data, and enforce in-field compliance.
AI & Machine LearningEnterprise SoftwareIoTSaaS
Redlen develops semiconductor-based radiation detection and imaging technology, including vertically integrated imaging modules built on in-house Cadmium Zinc Telluride (CZT) sensor manufacturing.
Deep TechHardwareSemiconductorsSaanichton
Glenn Bindley(Executive Officer, Director)Eric Erikson(Executive Officer)Jim Balcom(Executive Officer)
BoardRalph Turfus(Director)Dr. Edmund F. Becker, Jr.(Director)Colin C. Harris(Director)
Co-investorsWUTIF CapitalYaletown PartnersIn-Q-TelPangaea Ventures
Co-investorsCisco Investments
Vigil Health Solutions provides a care platform that supports multiple levels of care, designed to scale with resident populations.
Healthtech
Portfolio company (board position held by Pender team member).
Exits · 4
IPOs and acquisitions across the tracked portfolioD-WaveNASDAQ: QBTSGeneral FusionNASDAQ: GFUZSangoma TechnologiesNASDAQ: SANGTantalus SystemsOTC: TGMPF
Portfolio news
latest coverage across their companiesGeneral Fusion · investing.com · Aug 18, 2026
Checkfront · trekksoft.com · Aug 5, 2026
Tantalus Systems · simplywall.st · Jul 16, 2026
Frequently asked questions
- How many investments has Pender Growth Fund made?
- Pender Growth Fund has 24 tracked investments, 1 of which have exited via acquisition or IPO.
- What stage does Pender Growth Fund invest at?
- Pender Growth Fund invests at the Seed, Series A, Growth stages.
- What is Pender Growth Fund's typical check size?
- Pender Growth Fund typically writes checks of $365K – $2.2M.
- What sectors does Pender Growth Fund focus on?
- Pender Growth Fund focuses on Cleantech, Consumer, Data & Infrastructure, Deep Tech, Energy, Enterprise Software, Fintech, Healthtech, IoT, Marketplaces, Quantum Computing, SaaS.
- Where is Pender Growth Fund located?
- Pender Growth Fund is headquartered in Vancouver, CA.
- Who does Pender Growth Fund co-invest with?
- Pender Growth Fund most often shares deals with WUTIF Capital, Connecticut Innovations, Future Ventures, among 39 tracked co-investors.
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