# Leaders Fund

> Leaders Fund is a VC fund in Toronto backing Software and SaaS. See 43 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: Toronto, Canada
- Total investments: 43
- Last investment: Jul 2026
- Lead investor: 30%
- Fund size: $100M
- Last fund: Jan 2016
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/leaders-fund
- X (Twitter): https://twitter.com/leadersfund
- Website: http://leaders.vc/

Leaders Fund is a venture capital firm that invests in early stage companies taking advantage of the shift to cloud, mobile, and machine learning in the enterprise software sector. The firm was founded by an experienced team of operators who have founded and scaled multiple enterprise software companies, achieving successful public and privateexits. It is based in Toronto, Ontario with an office in Atlanta, Georgia.Our fund’s evergreen, flexible structure enables us to partner creatively with other investors while ensuring deep alignment with our portfolio companies on deal structure, growth strategy and long-term goals.

## Contacts

5 contacts available for Leaders Fund. Shizune tracks 5 team members at Leaders Fund. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/leadersfund?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Seed | $1.6M–$11M |
| Series A | $9M–$50M |
| Series B | $8.2M–$100M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Software | 19 | 44% |
| SaaS | 7 | 16% |
| Information Technology | 6 | 14% |
| Machine Learning | 3 | 7% |
| Marketing Automation | 3 | 7% |

65 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Seed | 11 | 26% |
| Series A | 11 | 26% |
| Series B | 9 | 21% |
| Funding Round | 4 | 9% |
| Series C | 2 | 5% |

6 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| United States | 14 | 33% |
| Canada | 11 | 26% |
| Israel | 3 | 7% |

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Bryan W. Kerdman | Venture Partner | 7 | https://shizune.co/investors/profile/bryan-w-kerdman |
| David MacDonald | Venture Partner | 0 | https://shizune.co/investors/profile/david-macdonald-66a4 |
| David Stein | Founder & Managing Partner; Co-Founder & Managing Partner | 3 | https://shizune.co/investors/profile/david-stein |
| Gideon Hayden | Co-Founder & Partner | 7 | https://shizune.co/investors/profile/gideon-hayden |
| Steve DeBacco | Co-Founder & Managing Partner | 5 | https://shizune.co/investors/profile/steve-debacco |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Tangos Ai | Tangos Ai creates autonomous agents that reason, research, connect evidence, and produce audit-ready results for banks, financial institutions, and national security organizations. | $20M | Seed | Jul 07, 2026 |  |
| Matia | Matia helps to improve data management by combining uniform ingestion, reverse ETL, observability, and cataloging. It is designed for frictionless collaboration, enabling organizations and the data teams that support them to make faster, smarter decisions with less tool bloat. | $21M | Series A | Feb 10, 2026 |  |
| Upwind Security | Upwind Security creates and develops software and online tools that ensures security of cloud infrastructure. It manages runtime environments of the cloud platform. | $250M | Series B | Jan 26, 2026 |  |
| Vellum | Vellum is a developer platform for the production of LLM apps. | $20M | Series A | Jul 10, 2025 |  |
| Upwind Security | Upwind Security creates and develops software and online tools that ensures security of cloud infrastructure. It manages runtime environments of the cloud platform. | $100M | Series A | Dec 02, 2024 |  |
| Upwind Security | Upwind Security creates and develops software and online tools that ensures security of cloud infrastructure. It manages runtime environments of the cloud platform. | $100M | Series B | Nov 09, 2024 |  |
| Matia | Matia helps to improve data management by combining uniform ingestion, reverse ETL, observability, and cataloging. It is designed for frictionless collaboration, enabling organizations and the data teams that support them to make faster, smarter decisions with less tool bloat. | $10.5M | Seed | Oct 29, 2024 |  |
| Toolpath | Toolpath is a distributed machining platform that creates CNC machined parts to accelerate innovation from prototype to production. The company is also developing intelligent CAM software that determines how to efficiently machine it on a CNC mill. It was founded in 2021 and is based in Atlanta, Georgia. | $10M | Seed | Sep 09, 2024 |  |
| CereTax | CereTax is here to show tax managers, tax directors, and CFO’s that someone has been listening. No longer are you limited to using antiquated technology and choosing between the same legacy platforms that have advanced slower than your own business. | $9M | Series A | Jun 25, 2024 |  |
| Mosaic AI | Ask-AI aggregates text-heavy company knowledge & customer communications to reveal pinpointed answers and actionable insights. | $11M | Series A | Jan 10, 2024 |  |

10 of 43 investments shown.

## Co-investors
- [Caffeinated Capital](https://shizune.co/investors/profile/caffeinated-capital) — VC Fund, 7 deals together
- [Craft Ventures](https://shizune.co/investors/profile/craft-ventures) — VC Fund, 7 deals together
- [Cerca Partners](https://shizune.co/investors/profile/cerca-partners) — VC Fund, 5 deals together
- [Greylock](https://shizune.co/investors/profile/greylock) — VC Fund, 5 deals together
- [Version One Ventures](https://shizune.co/investors/profile/version-one-ventures) — VC Fund, 5 deals together
- [Bessemer Venture Partners](https://shizune.co/investors/profile/bessemer-venture-partners) — VC Fund, 4 deals together

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## Featured in investor lists
- [InsurTech VC Funds in Canada](https://shizune.co/investors/insurtech-vc-funds-canada)

## FAQ

### What does Leaders Fund invest in?

Leaders Fund invests primarily in Software, SaaS and Information Technology startups, most often at Seed and Series A stage. Most of the 43 investments tracked by Shizune back companies in United States. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Leaders Fund's check size?

Leaders Fund typically joins rounds of $1.6M–$11M at Seed, $9M–$50M at Series A and $8.2M–$100M at Series B. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Leaders Fund participates in.

### How do I contact Leaders Fund?

Public channels for Leaders Fund include LinkedIn, X (Twitter) and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at Leaders Fund?

The team at Leaders Fund includes Bryan W. Kerdman (Venture Partner), David MacDonald (Venture Partner) and David Stein (Founder & Managing Partner; Co-Founder & Managing Partner). The Team section lists each member with their title, investment count and links.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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