Toronto — May 5, 2017 — The Upside Foundation of Canada is excited to announce a partnership with Espresso Capital. Espresso Capital provides founder friendly capital to technology companies across Canada. Since its inception in 2009, Espresso has funded over $170 million in startup lines of credit and growth capital to over 225 companies.
Espresso is committed to giving back to the community. Alkarim Jivraj, President and CEO of Espresso Capital, has donated 1 percent of his Espresso holdings to the Upside Foundation.
“Canada is a great place for startups. We benefit from world-class education and health care, not to mention generous taxpayer funded assistance to support technology development and commercialization. I think we have an obligation to give back. Upside offers a unique model to give back using shares. Think of it as entrepreneurial social responsibility” said Alkarim.
As part of the partnership, Espresso will work with the Upside Foundation to increase awareness and support of the Upside Foundation “150X150: Turn Equity Into Charity” campaign. Upside is aiming to increase their membership to 150 companies by the end of the year, in celebration of Canada’s 150th birthday. Espresso joins Hubba, Wealthsimple, Wattpad, and over eighty other companies in this challenge.
“We are very excited to add Espresso Capital to the network of companies supporting the Upside Foundation,”, says Rob Antoniades, Co-Founder and General Partner at Information Venture Partners and Co-Founder and Chairperson of the Upside Foundation. “And we are pleased to welcome Alkarim Jivraj, Espresso’s visionary CEO, to the Foundation’s Board of Directors, and thank him for his personal commitment to share the upside from his ownership of Espresso shares.”
About The Upside Foundation
The Upside Foundation is a registered charity that provides an innovative philanthropy platform to enable Canadian startups and high-growth companies to give back by donating equity––“Sharing the Upside”. Companies pledge warrants or stock options, which are then converted into cash and donated to a selected registered Canadian charity after a successful liquidity event such as an IPO.
For more information, please email firstname.lastname@example.org or check out the website at www.upsidefoundation.ca.