RBCx steps up support for founders in two high growth Canadian tech segments to fuel startup ecosystem growth & innovation

Highly specialized talent appointed to lead RBCx's early stage banking and life sciences segments, and deliver tailored capital, advice and scale-up solutions

TORONTO, Nov. 1, 2023 /CNW/ - RBCx, Royal Bank of Canada's technology and innovation arm, is doubling down on its efforts to deliver tailored support for pre-seed and seed-stage tech founders, and entrepreneurs in life sciences – two highly specialized and rapidly growing segments within the Canadian tech ecosystem. Recognizing the unique needs of founders and scaling businesses in these segments, RBCx has strengthened its advisory bench with the appointment of four respected tech industry leaders to support clients in these spaces. Their deep segment expertise and industry connectivity will be complemented by the tailored banking and capital solutions, and differentiated platform services RBCx provides to founders across every stage of their start-up journey.

RBCx (CNW Group/RBC Royal Bank)

"Tech companies operate with life cycles, business models and ecosystem environments that are unlike any other business that a traditional bank would be accustomed to. Our ethos is to meet founders where they are and connect them to resources and solutions that match their unique operating needs versus fitting clients into our mold," says Tony Barkett, head of Banking, RBCx. "A big part of this is ensuring we have uniquely qualified advisors - many who have lived the life of an entrepreneur or investor, or deeply understand the nuanced journey clients are on in specific industries. In doing so, we're striving to be a much more holistic partner for innovators at every stage of their growth, going above and beyond their capital needs."

Fueling early stage growth
Helping pre-seed and seed-stage companies get their innovation off the ground by supporting founders during the challenging early stages of their journey is crucial to sustaining a diverse tech ecosystem and healthy pipeline of innovation to fuel the Canadian economy.

As such, RBCx is pleased to welcome Filip Stoj – formerly the vice president of Early Stage Startups at SVB Canada – to lead RBCx's Early Stage Banking practice. In this role, Filip and his newly created team will leverage their deep ecosystem insights, network relationships, and the platform's tailored mentoring and capital solutions to support founders as they embark on their growth journey, from top tier accelerators and incubators to their first institutional capital raise.

Additionally, Andrew Owusu-Sefa has joined RBCx as vice president, Early Stage Banking. Andrew joins from SVB Canada as well, where he was one of the first 10 employees tasked with building and expanding SVB across Canada.

Fostering innovations in life sciences and healthcare
Innovative startups in the life sciences and healthcare sector encounter their own unique set of operating challenges as they often struggle in their efforts to manage cash flow during lengthy research phases, secure funding for clinical trials, or navigate the complex web of regulatory requirements to validate their innovation. However, accelerating pathways to commercialization for many of these companies remains critical to addressing many of Canada's and the world's most pressing healthcare and life sciences opportunities.

To build on its robust Life Sciences practice and provide enhanced support to scaling companies in this highly specialized sector, RBCx has appointed Anne Woods – formerly managing director, Life Sciences and Healthcare at SVB Canada – to lead the Life Sciences practice and oversee the strategic vision and product initiatives within the portfolio, working alongside a newly-created national team.

In addition, Rebecca Ross has joined the RBCx team as managing director, Credit Advisory, where she will co-lead the Credit Advisory group with a focus on RBCx's Life Sciences practice. Rebecca also joins RBCx from SVB Canada where she was the first credit advisor hired to grow their life sciences and healthcare segment alongside Anne Woods.

To learn more about how RBCx supports tech entrepreneurs at each stage of their journey, visit rbcx.com/banking.

About RBC
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 97,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our 17 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com.

We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/community-social-impact.

About RBCx
RBCx powers bold ideas, founders, and technology companies. We know building great businesses takes more than just finance, which is why our four pillars – Banking, Capital, Platform, and Ventures – combine to make us the go-to backer of Canadian innovation. We use our deep expertise to support businesses of all sizes and stages, and leverage RBC's extensive experience, networks, and capital to solve tomorrow's big problems.

SOURCE RBC Royal Bank

Jackie Cundari, Corporate Communications, RBCx, [email protected]