Building Ventures That Actually Work
Most finance programs teach theory. We focus on what happens when someone hands you capital and expects results. Our approach comes from building real companies—the messy, unpredictable kind that taught us more than any textbook could.
See How We Work
Running On Assumptions
Back in 2019, I watched a promising startup burn through their seed round in eight months. They had everything—smart team, solid product, enthusiastic early users. What they didn't have was anyone who'd actually built financial infrastructure for a scaling company.
Their CFO came from corporate finance. Great at audits and compliance, but lost when asked about unit economics or CAC payback periods. By the time they figured out their burn rate math was wrong, options became limited.
That experience stuck with me. Not because it was unique—I've seen variations of this story dozens of times across the Canadian startup scene. The gap between traditional finance education and venture building reality is wider than most people realize.
Building From Real Experience
fivaloneriq emerged from conversations with people who'd been through multiple funding rounds. We talked to founders who'd raised Series A, operators who'd scaled teams from 5 to 50, and yes, some who'd shut down ventures and learned expensive lessons.
The pattern became clear. Success wasn't about complex financial models—it was about understanding cash flow timing, knowing when to hire ahead of revenue, and reading investor signals during due diligence.
Our curriculum now reflects those realities. Students work through scenarios pulled from actual board meetings and investor updates. They learn to build financial projections that survive contact with market conditions, not just classroom evaluation.
What Venture Finance Actually Looks Like
Forget the sanitized case studies. Here's what you'll encounter when building something from the ground up.
Pre-Revenue Pressure
Nobody tells you how weird it feels to manage a budget when there's no revenue line. You're spending other people's money based on projections that might be completely wrong. The first six months of our program focuses entirely on this phase—because this is where most ventures either find their footing or start sliding.
Reading The Room
Investor meetings have a rhythm. When VCs start asking about customer acquisition costs in month three, they're not just curious—they're stress-testing your understanding. We teach you to spot these moments and respond with the right level of detail, because overselling or underselling both create problems.
The Scaling Decision
Timing your first major hires determines everything that comes after. Too early and you're burning runway on salaries. Too late and you miss market windows. This isn't something you can learn from a textbook—it requires understanding both financial constraints and market dynamics simultaneously.
Canadian Venture Landscape, 2025
The funding environment shifted noticeably in late 2024. Here's what we're seeing across major Canadian markets and how it affects venture building approaches.
Longer Fundraising Cycles
Average time from first pitch to close stretched from 4 months to 6.5 months in 2024. Investors are conducting deeper due diligence, particularly around unit economics. This affects runway calculations and hiring plans—something we now address specifically in our financial planning modules.
Profitability Path Scrutiny
Growth at any cost is officially dead. Even early-stage investors now want to see a credible path to positive unit economics within 18-24 months. This fundamentally changes how you structure your financial models and pitch deck—we've updated our curriculum to reflect this new reality.
Regional Capital Concentration
Toronto and Vancouver still dominate Canadian venture funding, but we're watching Montreal and Calgary develop distinct ecosystems. Understanding regional investor preferences and typical deal structures matters more than people think—especially when you're deciding where to incorporate.
How fivaloneriq Programs Work
We run intensive cohorts twice a year. Next intake begins September 2025, with another starting February 2026. The structure is deliberate—each phase builds on previous work.
Foundation Phase (Weeks 1-6)
Start with venture finance fundamentals, but not the textbook version. You'll learn cap table management, convertible note mechanics, and dilution math through real examples. Every concept ties to decisions you'll face in months 0-6 of building a venture.
Most students find the dilution calculations counterintuitive at first—that's normal. By week four, the math becomes second nature.
Scenario Building (Weeks 7-12)
Work through actual venture scenarios with guest operators. One week you're modeling runway extension strategies. Next week you're restructuring a cap table before Series A. The following week, you're explaining to "investors" why your burn rate increased 40% quarter-over-quarter.
Guest sessions happen with people currently building companies or actively investing. No retired executives sharing war stories from 2008.
Applied Project (Weeks 13-18)
Build complete financial infrastructure for a venture concept. This means creating the full stack—financial model, investor deck, board reporting templates, and scenario planning. You'll present to actual investors who'll give feedback like you're seeking real funding.
Some students use their own startup ideas for this phase. Others work with concepts we provide. Both approaches work—what matters is the rigor of execution.
Ongoing Network Access
After completing the program, you maintain access to our operator network and quarterly workshops. The venture building world changes quickly—funding environments shift, investor priorities evolve. Staying connected helps you adapt as conditions change.
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