Top Down Ventures is the first early-stage venture capital firm focused exclusively on the MSP (Managed Service Provider) software and AI ecosystem. Based in Vancouver, BC, the firm partners with founders building automation, intelligence, and governance platforms for the global SMB market. Through its research, events, and investments, Top Down's mission is to elevate the MSP industry from Main Street to Wall Street.
Top Down invests exclusively in early-stage software and AI companies serving the MSP market. The firm backs AI-native SaaS companies, businesses built from inception with modern AI development tooling, resulting in faster product cycles, leaner teams, and differentiated capabilities tailored to the evolving MSP landscape. Target categories include automation, intelligence, and governance platforms for SMBs.
Founders Fund I closed at $28 million in April 2026, oversubscribing its original $25 million target. The fund held its first close in October 2024. The fund attracted over 100 LPs, the majority of whom are founders, operators, and executives from across the MSP ecosystem. It also includes participation from Pax8 founder and chairman John Street, Upward Trajectory Fund, and private family offices across Canada and the United States. Since beginning to invest in 2024, the fund has deployed capital into 12 portfolio companies.
Leadership
Joel Abramson is Managing Partner. Mark Scott is General Partner. Chris Day is Founder and Chairman. The firm's general partners previously founded and scaled IT Glue (acquired by Kaseya), Fully Managed (acquired by TELUS), N-able (NYSE: NABL), and ScalePad.
Investment Strategy
Top Down combines capital with a hands-on platform approach. The firm provides operational guidance, go-to-market support, and access to a deeply embedded industry network, convening CEO peer groups, hosting an annual Horizons investor summit, and publishing the MSP Outliers blog and podcast. The LP base is structured to function as a strategic flywheel, with MSP operators and founders actively contributing to portfolio company growth.
Notable Investments
zofiQ, agentic AI for MSPs; acquired by ConnectWise, returning 5.3x to the fund six months after the initial investment. A second unnamed portfolio company completed its Series B at a 3.5x markup to Top Down's entry. 12 portfolio companies total.
Notable Exits
zofiQ, acquired by ConnectWise at 5.3x in under six months. Prior to the fund, the GPs' personal track record generated a 12.8x MOIC and 97% IRR across companies including IT Glue, Fully Managed, N-able, and ScalePad.
Phone number: 1.604.425.2275
Chris Day - Founder & Chairman
Joel Abramson - Managing Partner
Mark Scott - Managing Partner
Canada
