Patrick Lor co-founded iStockphoto and grew it from a side project into a major platform acquired by Getty Images, then became president of Fotolia North America before moving into venture investing at Panache Ventures. As an immigrant from Hong Kong who grew up in small-town Alberta, he focuses on backing underestimated founders from nontraditional backgrounds and champions Alberta's research-led innovation opportunities, particularly the redeployment of oil-and-gas engineering talent into areas like health IT.
What they've been talking about across their social media accounts

- Prioritizes the mental health and emotional journey of the entrepreneur. He explicitly advocates for investors to check in on a founder's personal well-being before asking for business updates and shares resources related to building mental resilience.
- Encourages audacious ambition and optimistic thinking over skepticism. He believes the correct response to a seemingly unrealistic pitch is to applaud the scale of the vision and acknowledge that everything needs to go perfectly to succeed, rather than focusing on the roadblocks.
- Acts as a vocal champion for portfolio companies and Canadian founders. He frequently uses his platform to celebrate specific milestones, such as cheering on a pair of sisters launching a wellness company or congratulating founders on award nominations.
- Values confident leadership and adaptability in team building. He notes that insecure leaders are detrimental because they fail to inspire belief in the team, and he views education as the ability to figure out the right move when faced with the unknown.
- Supports the advancement of women in technology and leadership. He views gender diversity in management not just as a fairness issue but as a driver of economic growth, highlighting events and investments that elevate female founders.
About their Fund
Sectors
AI, Fintech, SaaS, Enterprise, Health
Rounds
Pre-Seed - Seed
Avg Check Size
$500K - $3M
Notable Investments
Panache Ventures built a proprietary AI-driven dataset that tracks every new Canadian tech startup in real time and acquired San Francisco-based Commonwealth Ventures to bolt on specialized Silicon Valley fundraising expertise for its Canadian portfolio—rare moves for an early-stage VC. The firm operates as Canada's most active seed-stage VC with a coast-to-coast footprint across all four major cities, deliberately focusing on high-volume pre-seed/seed deployment with 90-100 holdings per fund rather than moving up to later stages, and uses a "hands-if" operating style that relies on co-investors for governance while keeping focused on getting startups ready for Series A handoffs.
Notable Fund
Investments
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