The School of Accounting and Finance's Venture Capital Investment Competition undergraduate team celebrates their second place finish at the Global Finals with faculty mentor Frank Hayes.
Update: the team places second at the 2025 Global Finals after a fierce performance.
For six straight years, Waterloo’s Venture Capital Investment Competition (VCIC) team from the School of Accounting and Finance (SAF) has reigned supreme at the Canadian Finals in Halifax, showcasing an unparalleled ability to think like top-tier investors. The team has continued this trend placing second at the Global Finals in North Carolina, defeating some of the world’s best business schools—including Berkeley, Georgetown, Miami University, US Air Force Academy, Trinity College from Ireland and a close defeat by Dartmouth.
This represents a great achievement for both SAF and the student team as their finish is the highest ranking achieved by an international team in the VCIC Global competition's 27 year history.
The VCIC isn’t just a pitch competition—it’s a test of venture capital expertise. Unlike traditional startup competitions where entrepreneurs pitch to investors, VCIC flips the script: Students play the role of venture capitalists, evaluating real startups, conducting due diligence and negotiating investment deals. This intense, fast-paced competition simulates the real-world venture capital process, pushing students to think critically and act decisively under pressure.
This year’s team consists of 6 talented members from different SAF programs. Representing Accounting and Financial Management (AFM) are Ansh, Joel, John and Nolan, Quynh-Anh from Biotech/CPA and Rachel from Computing and Financial Management (CFM).
A key ingredient in this winning formula is the University of Waterloo Student Venture Fund (SVF). This one-of-a-kind, student-led course provides real-world, experiential learning, allowing students to manage real capital and make investment decisions that mirror those in the venture capital industry. The hands-on experience from the SVF feeds directly into the VCIC team’s success, sharpening their skills in due diligence, deal evaluation and strategic decision-making.
According to Faculty Mentors Mark Arnason, Neil Brisley and Frank Hayes, “The competition gives students a great opportunity to apply their knowledge of the Venture Capital industry, strengthen their presentation skills and test themselves against some of the top business schools in the country and in the world."
For the team, winning isn’t just about bringing home a trophy—it’s about applying the knowledge and skills gained through experiential learning to real-world venture capital and private equity careers.
The School of Accounting and Finance 2025 Venture Capital Investment Competition graduate and undergraduate teams celebrating their wins together
Rachel has been on the VCIC team for the past two years and is also currently in the SVF course. "Winning the Canadian Finals with my team for the second time in my undergraduate career was an incredible feeling. The skills and knowledge that I have gained throughout this experience have been instrumental to my career development in private equity, venture capital and consulting. I’ve learned how to perform under pressure and make educated decisions with limited information, which has helped build my critical-thinking skills,” says Rachel.
Like Rachel, teammate Ansh is also currently in the SVF course and reflects on the profound impact of VCIC, stating “Winning the VCIC Canadian Finals wasn't just about the competition itself, but about refining the analytical skills and investment judgment I plan to carry forward into my career. This experience pushed me to think critically and use my intuition to contribute to an out-of-the-box solution, which is exactly what I'll need to succeed in the real world of VC.”
With a legacy of dominance at the Canadian level, the backing of an incredible experiential learning ecosystem and a new historic second place finish, Waterloo’s team is ready to take on the world.
Congratulations on another dominant performance.
Read more about past VCIC competitors and their experiences.