The room at TechExit.io Toronto 2025 was full of founders and Canada’s top tech-centric investment bankers, advisors and mentors who have lived the highs and lows of building in uncertain times.
People who understand that growth, investment and exit decisions are never linear.
Over the course of the day, those conversations came alive. Canada’s leading investors, acquirers and entrepreneurs shared how they think about timing, trust and value creation when the stakes are highest.
The focus wasn’t theory or trendspotting; it was the reality of how great outcomes are actually built, negotiated and sustained.
What stood out most was the honesty.
Every session offered unfiltered lessons from people who’ve been in the room when it matters, reminding everyone that readiness and relationships often define success more than markets do.
Key takeaways:
- Optionality is leverage in an uncertain market.
- AI is transforming how investors find and evaluate opportunity.
- Brand equity is now a real multiplier of valuation.
- Emotional and operational readiness define post-exit success.
- The strongest deals are built on trust, not timing alone.
TechExit.io Toronto gathered founders, investors and acquirers for candid conversations on what truly drives successful outcomes in Canadian tech, specifically as it relates to potential acquisitions, M&A and liquidity.
The discussions revealed a common thread: the best results come from preparation and clarity, long before the deal is on the table.
1. Optionality Is Leverage
Conference Chair Amar Varma (Mantle) set the tone for the day, with readiness and optionality shaping every conversation that followed. He spoke about the importance of building companies that can adapt, not just react, and how preparation creates leverage when markets turn.
The opening 2026 M&A Market Outlook with Shikha Bhuchar (RBCx) and Nilam Ganenthiran (Beacon Software) expanded on that theme, exploring how founders can maintain control in a volatile environment.
Shikha pointed to growing U.S. interest in Canadian innovation, with AI now driving nearly 30% of Canadian VC investment.
Nilam emphasized that the strongest companies are those built with multiple paths forward, IPO, acquisition, or sustainable independence, giving them leverage no matter how the market shifts.
2. AI & The Future Of Investing
“Investors using AI will outperform.”
That was the headline thought from a forward-looking discussion moderated by Michelle McBane (StandUp Ventures) with Hugues Lalancette (Inovia Capital), David Rozin (Scotiabank/Roynat Capital), and Thomas Terrats (Vessel).
The panel explored how data and automation are changing the pace and precision of venture capital.
Yet amid the efficiency, the speakers agreed that judgment still matters most.
David highlighted the speed of innovation and how AI-driven insights can surface new opportunities but conviction and trust still close deals.
While Michelle captured it best: technology can enhance decision-making but it can’t replace discernment.
3. Life After The Exit
Kazi Ahmed (Carbon6) and Kevin Kliman (Humi by Employment Hero) joined Jeffrey Bennett (National Bank of Canada) to discuss what happens once the deal closes and the cameras are gone.
Kazi spoke about the $305M CAD acquisition of Carbon6 by SPS Commerce and why he chose a buyer who could take the company’s mission further.
“We saw a company ready for change, and we wanted to help shape that.”
Kevin reflected on Humi’s $100M+ CAD exit, sharing how the experience reshaped his view of leadership and success.
Both founders reinforced that valuation is only one part of the equation. How you and your team transition afterward defines whether an exit becomes a springboard (or a full stop).
4. Purpose & Perception
Allen Lau (Wattpad) spoke about how purpose guided every decision leading up to Wattpad’s $754M CAD acquisition by Naver Corp.
His message was clear: staying anchored to mission built a company buyers wanted to partner with, not just purchase.
Later, Nathan Yeung (Find Your Audience) shifted the lens to brand equity as a strategic asset. “Products can be copied. Brands can’t.”
He outlined how trust, content, and reputation now drive measurable enterprise value. In a world where AI is leveling technical advantages, strong brands have become a new kind of defensibility.
5. The Founder’s Path: Lessons In Resilience
Jeremy Shaki (Lighthouse Labs) joined Brent Holliday (Garibaldi Capital Advisors) for one of the day’s most honest and resonant discussions, about persistence, change, and what happens when the story doesn’t go as planned.
After two failed exit attempts, Jeremey eventually engineered his own acquisition by Uvaro, creating his own momentum when the market offered none.
When Lighthouse Labs later entered bankruptcy, he spoke candidly about still processing what came next and what he learned through it.
“I’m still in the midst of it—still learning what it means to build, to sell, and to start again.”
His honesty reflected the spirit of TechExit.io itself: a space for founders to share not just the wins but the lessons that come from the hardest chapters.
6. Designing For Optionality
In a session led by Julia Kassam, Rhiannon Davies (Sandpiper Ventures), Shamil Hargovan (STS Capital Partners), and Petar Zelic (Stifel Financial Corp.) shared what it takes to build a company that’s always ready.
“Offence is the best defence,” said Shamil, describing how forward-thinking structure and governance open future opportunities.
Rhiannon underscored that board readiness and diversity aren’t checkboxes, they influence credibility, investor confidence and valuation. With Petar adding that well-structured boards help founders make bolder, faster decisions when opportunity arises.
Optionality, they agreed, is the outcome of design, not chance.
7. The Psychology Of Dealmaking
The day closed with Matt O’Leary (1Password) and Bram Sugarman (formerly Shopify) in conversation with Amar Varma (Mantle) about what really happens inside the deal room.
Matt emphasized the role of trust: “Trust is built through relationships—that’s what makes the difference.”
Bram spoke about the weight of walking away from deals that look perfect but don’t align culturally or strategically. Their discussion captured the nuance of M&A, the mix of logic, instinct and timing that no spreadsheet can quantify.
The session ended with a reminder every founder in the room felt deeply: great deals are built on human judgment as much as they are financial analysis.
8. Inside The Breakouts: From Valuation To The Realities Of Exit
Beyond the main stage, TechExit.io Toronto’s breakout sessions gave founders practical insights they could act on immediately.
In Show Me the Money: What’s Your Company Really Worth?, Narbe Alexandrian (Define Capital), Talia Abramowitz (Deloitte Ventures), Frazer House (BLG), and Mitch Robinson (Sampford Advisors) unpacked how valuations are evolving and what buyers now prioritize.
Liquidity Unlocked brought together Peter Misek (BDC Capital), Nicole Verkindt (OMX), and Steven Lamb (CapitalTEK) to explore alternative financing and secondary pathways to growth.
In Cringe-Worthy: Top 10 Ways to Not Blow a Deal, Karamjeet Kaur (Dentons), Randy Garg (Vistara Growth), and Chris Chapman (PwC) shared the pitfalls that quietly kill deals before close.
And in After the Handshake, Michael Weider (OneCore Media), Katherine Regnier (Coconut Software), and Mike Silagadze (Top Hat) offered candid advice on navigating the post-acquisition transition, where the real work often begins.
Each session delivered what TechExit.io is known for: honest, experience-based insight from the people who’ve lived it.
Final Word For Founders
TechExit.io Toronto 2025 captured the state of Canadian tech through strategy, resilience, and real-world experience. From the main stage to the breakouts, the message was clear readiness is the real advantage.
Next, the conversation continues on the West Coast at TechExit.io Vancouver, where we’ll dig deeper into how Canadian founders can build, scale, and exit on their own terms.
TechExit.io: Learn how to acquire—or get acquired. Hear lessons from the biggest success stories and at this year’s TechExit.io Toronto explore how optionality and discipline keep every path open, from growth and IPO to acquisition.