Most founders come to startup events looking for the same thing: money. And who can blame them? Capital is critical to growth. But as Miryam Lazarte, General Partner of GSA Ventures, has learned over the years—chasing money isn’t enough.

Through her work at LatAm Startups, now Global Startups, Lazarte has spent the past decade supporting international and immigrant entrepreneurs building companies in Canada. Year after year, her team helped startups prepare their pitches, sharpen their business models, and connect with investors.

Still, the funding rarely followed.

“We kept asking ourselves,” Lazarte shared at this year’s Global Startups Conference, “Is it the pitch? The accent? The business model? We questioned everything.”

Then, something changed.

In 2021 and 2022, two startups from the Global Startups portfolio hit unicorn status. For the community, it was a wake-up call. These weren’t startups that had secured early VC backing. They were overlooked founders who built quietly, with grit and focus—and eventually, they broke through.

It wasn’t a fluke.

More companies from the same ecosystem began winning pitch competitions, attracting customers, and generating real traction. The team at Global Startups began to see a clear pattern emerge.

It wasn’t just about the deck or the delivery.
It was about the founder.
The mindset. The grit. The ability to keep building—even without capital.

That’s what inspired Lazarte to launch GSA Ventures: a pre-seed investment firm focused on backing high-potential, often-overlooked founders—especially immigrants and international entrepreneurs.

“I knew these founders,” she says. “I’d worked alongside them for years. I trusted them. I could see who the winners were—even when no one else was paying attention.”

Of course, not every founder is investable. But among them are companies with real promise—startups that can succeed with the right early support.

The Problem with “Perfect”

Canada’s tech investment landscape has a flaw: too many investors are waiting for the “perfect” startup. The one with polished pitch decks, impressive metrics, and mass-market appeal.

But the reality is, those startups usually head south—to the U.S.—where capital is faster and more risk-tolerant.

Lazarte believes it’s time to stop chasing perfect and start backing good.

A Moneyball Approach to Investing

At GSA Ventures, the investment thesis is inspired by Moneyball—the idea that you don’t need a team of superstars to win. You need consistency, data, and a smarter approach.

That means building a portfolio of early-stage startups that:

• Have real traction or customer insight
• Are led by resilient, resourceful founders
• Show measurable potential for growth

The goal?

• Reliable returns
• Meaningful community impact
• A stronger, more inclusive Canadian tech ecosystem

“We don’t need all-stars,” Lazarte says. “We need founders who know how to build. That’s how you get real results.”

A Call to Founders and Investors

For founders, especially those who feel overlooked, the message is clear: don’t wait for validation—keep building. The right investors are paying attention.

For new and aspiring investors, this is an invitation to join the movement.

Canada can be the Oakland A’s of tech investing. We just have to start playing smarter—backing the right people, even if they don’t come wrapped in the ‘perfect’ pitch.

Welcome to Breaking Barriers: Rethinking Tech Investment for Startups.

The next generation of venture investing starts here.