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How AI is Breaking VC, Why Most Startups Will Become Obsolete, & Why Israel is Winning in Startups | Sion Balass of The Group Ventures
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How do you build a venture capital firm in a market that isn’t mature? And what does it mean to be an entrepreneur shaped by experiences in Iran, Israel, and Canada?
In this episode of The Profit or Pivot Podcast, I sit down with Sion (Zion) Balass, co-founder and Managing Partner of The Group Ventures, a Toronto-based VC firm. Sion shares his remarkable journey, born in Iran to Iraqi Jewish parents, moving to Israel after the revolution, building a startup in computational drug discovery (AI before “AI” was cool), and eventually co-founding one of Canada’s most concentrated and hands-on venture funds.
We dive into:
- The unique challenges of building a venture fund in Canada
- Why Israel’s startup ecosystem vastly outperforms Canada’s
- His “every company counts” approach to venture investing
- The role of government in entrepreneurship and where it fails
- A candid conversation on the rise of antisemitism in Canada since October 7, 2023
Whether you’re an entrepreneur, investor, or simply curious about the intersection of business, resilience, and identity, this episode offers an unfiltered look at the realities of venture capital and leadership today.
Subscribe for more candid conversations with entrepreneurs, investors, and leaders who share their Profit or Pivot stories.
Watch the video version on YouTube
About Sion Balass
As Founder and Managing Partner of The Group Ventures, Sion Balass leverages two decades of global tech leadership to scale early-stage companies into market leaders. From the fund's base in Toronto, and originally from Israel, Sion applies his international experience from the US, Germany, the UK, and Canada to guide founders on their path to global expansion. His hands-on support spans the entire company lifecycle, including architecting go-to-market strategies, securing funding, and navigating complex M&A transactions. Sion provides critical guidance through active board roles and as a trusted advisor, with a deep focus on digital health and AI. Connect with Sion Learn more about The Group Ventures20 episodes
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