Relay Ventures originated as the BlackBerry Partners Fund, giving them unusually deep mobile and connected internet expertise dating back to the earliest smartphone ecosystem, and they focus on just three to four growth industries at a time rather than spreading across dozens of themes like most funds. They're known for making very early bets in unsexy categories before they become popular—like backing ecobee before smart thermostats were crowded and Greenlight before kids' financial products were mainstream—and have built a reputation as one of the few Canadian funds that consistently helps companies attract major U.S. investors.