Meet Andrew Lugsdin: Our newest Partner, empowering West Coast innovation

We are reaffirming our commitment to Western Canada's technology ecosystem, following the successful closure of our Canadian Opportunities Fund II with a new capital of $100M.

After helping many founders build success stories across Quebec and Ontario, we bring a hands-on investment approach to Western Canada. Leading the charge on this West Coast push is Andrew Lugsdin, our newest Partner. With his strong connections in British Columbia's tech world, he's the perfect fit to help drive the firm's ambitions out West.

We had the opportunity to sit down with Andrew for an insightful conversation about his unique approach to working with founders and harnessing his extensive network.

What initially drew you to venture capital?

“To me, Venture Capital was the opportunity to work with amazing people who are tackling big challenges and building something impactful. I’ve always been drawn to teams that are striving to be great - it's incredibly satisfying to be part of that journey.

Every startup I’ve worked with has taught me something new about innovation, resilience, and what it takes to turn ideas into reality.

For example, Layer 7 Technologies was providing infrastructure to enable a new way of building applications. Standards were still evolving and customers didn’t yet understand what they needed. Going through numerous ups and downs, the team persevered to build a solution that was widely adopted and ultimately led to the company being successfully acquired by a major tech player.”

Is there a specific or sector that you primarily focus on?

“The majority of my initial investments in companies have been at the Seed or Series A stage. I like this early stage, when it’s important to try to look beyond the immediate horizon and identify the true long-term opportunity for a company. It’s not just about identifying the right opportunity, but also evaluating whether the team has the vision, resilience, and capabilities to build a market leader.

As for a sector, I’ve spent my entire career immersed in software. This has spanned both large and small companies, B2B and B2C models, and a range of solutions—from Mobify which was a platform enabling headless commerce that was acquired by Salesforce to Cymax which is a furniture ecommerce and logistics company. What excites me most is the role of innovation in driving progress across all these areas. Ultimately, whether it's disruptive products or groundbreaking business models, it’s innovation that fuels success and gives companies the edge to transform industries."

Can you walk us through your process when you first connect with a founder? What are you looking for?

"My first goal is to establish a foundation of honesty and transparency. I aim to create an environment where both sides feel comfortable being straightforward, as that’s how trust is built.

I view this process as the beginning of a collaborative partnership—almost like joining a team where everyone has different roles but is working toward the same goal. What matters most to me is ensuring that we have a mutual understanding that we’re both aligned with the best interests of the company and the team. When trust is established early on, where both the founder and I know we have each other’s back, it becomes easier to focus on the long-term success of the business."

Beyond capital, how do you support founders in ways they might not expect from a VC?

“I’ve had the privilege of working with numerous companies and serving on many Boards, which has given me the opportunity to observe different patterns and challenges. I think this experience allows me to offer practical insights on how to navigate tough situations or approach problems with a more nuanced perspective.

Beyond the financial aspect, I’m passionate about building relationships and connecting people. Throughout my career, I’ve met so many talented and driven individuals, many of who also like to help others when they can.

For example, I had collaborated closely with a highly experienced executive on two different boards. I introduced this executive to the founder of Trulioo, a portfolio company. As Trulioo grew, the company reached a point where new leadership was needed. Since a strong relationship had already developed between them, this executive was the ideal candidate and smoothly transitioned into the CEO role.

What made you decide to join Brightspark?

“The Brightspark team truly is passionate about what they do. They thrive on partnering with founders and they want to be a part of building great, global companies. The team is no-nonsense, results-driven and everyone does whatever is best for their colleagues, the portfolio companies, and the fund’s LPs. And they have a lot of fun doing it.

I’m excited to bring my experience and energy to help build on that foundation. Being based out west, I also want to help Brightspark tap into the incredible talent and innovation happening here, and connect the firm with the teams building new, impactful companies."

Putting Our Western Commitment into Action

As part of our expanded presence in Western Canada, we’re excited to share that one of our first investments under this strategy is RetreatsAndVenues, a Vancouver-based B2B marketplace that is transforming how companies find and book corporate retreat spaces and logistics.

Our investment reflects Brightspark’s commitment to backing exceptional, domain-expert founders tackling large, underserved markets. RetreatsAndVenues is led by a passionate team of repeat founders, Cory Sivell, Mike Tan, Matthew Oakes and Corey Sanford, who bring complementary skills and relevant experience to address the corporate retreat marketplace opportunity.