# Ray Sharma

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Ray Sharma Sharma at OneEleven in Toronto Born Anandpur Sahib, Punjab, India Alma mater University of Western Ontario; Ivey Business School Occupations Venture capitalist; entrepreneur; former equity research analyst

**Ray Sharma** is a Canadian venture capitalist and entrepreneur. He co-founded Extreme Venture Partners and founded [XMG Studio](/source/XMG_Studio).[1][2][3]

## Early life and education

Sharma was born in [Anandpur Sahib](/source/Anandpur_Sahib), [Punjab, India](/source/Punjab%2C_India).[4] He received a Bachelor of Arts in Business Administration from the [Ivey Business School](/source/Ivey_Business_School) at the [University of Western Ontario](/source/University_of_Western_Ontario).[5]

## Career

He was ranked among the top technology analysts in Greenwich and Brendan Woods International surveys of fund managers for five of eight eligible years, and covered [BlackBerry](/source/BlackBerry), [Handspring](/source/Handspring%2C_Inc.), and other technology companies.[6][7]

In 2007, he co-founded Extreme Venture Partners, an early-stage [venture capital](/source/Venture_capital) firm in [Toronto](/source/Toronto).[8] He later co-founded Xtreme Labs, a mobile app development firm that was acquired by [Pivotal Labs](/source/Pivotal_Labs) in 2013.[9] Sharma co-founded Extreme Accelerator which offered funding, mentorship, and resources for startups relocating to Canada.[10] In 2009, he founded [XMG Studio](/source/XMG_Studio), a mobile game developer and publisher.[11] In 2012, Sharma oversaw the development of the prototype "Matchbox" created in a hackathon within Xtreme Labs, subsequently renamed [Tinder](/source/Tinder_(app)).

## Other roles

Sharma has spoken at mobile industry events including Interactive Ontario's iP3 Forum, the 2013 [Milken Institute](/source/Milken_Institute) Global Conference, the 2012 Application Developers Conference hosted by Scotia Capital, and the 2010 CTIA Mobile Web and Apps World Forum.[12][13] In February 2013, Sharma participated in a discussion panel with [Tony Clement](/source/Tony_Clement) and other entrepreneurs and developers over the [open data](/source/Open_data) made available by the Canadian government.[14][15] Through XMG Studio, he founded [The Great Canadian Appathon](/source/The_Great_Canadian_Appathon) in 2011, an app-building competition for Canadian university students.[16][17][18][19][20]

Sharma is also a guest author for [Pocket Gamer](/source/Pocket_Gamer) and [The Globe and Mail](/source/The_Globe_and_Mail).[21][22][23][24][25][26][27] He has also served on the Ontario Judicial Council, the Government of Canada's Advisory Panel on Open Government and the [Royal Ontario Museum](/source/Royal_Ontario_Museum)'s Board of Trustees.[28][29] He is also the creator of the Canadian Open Data Experience (CODE), which is Canada's largest open data hackathon.[30][31][32] In 2015, Sharma co-founded Hackergal - a not-for-profit organization that aims to introduce young girls to coding.[33] In that same year, he also co-founded Hackworks, a Toronto-based company that specializes in executing [hackathons](/source/Hackathon) and open innovation events.[34]

In 2019, an Ontario Superior Court ruling found that [Chamath Palihapitiya](/source/Chamath_Palihapitiya) and two former partners at Extreme Venture Partners conspired to hide an interest in dating app [Tinder](/source/Tinder_(app)) as part of a sale of shares in Xtreme Labs - resulting in the three paying $15.69 million to Extreme Venture Partner's current partners and co-founders, and ruling in favor of Sharma.[35][36]

Since 2020, Sharma has sat on the Technical Advisory Committee at the Duality Accelerator at the [University of Chicago](/source/University_of_Chicago). In 2024, he was given the Ivey Alumni Achievement Award.[6]

## Recognition

Sharma received the 2024 Ivey Alumni Achievement Award from the Ivey Business School.[37]

## References

1. **[^](#cite_ref-:0_1-0)** ["Ray Sharma, Extreme Venture Partners: Profile and Biography"](https://www.bloomberg.com/profile/person/16953430). *Bloomberg.com*. Retrieved 20 October 2021.

1. **[^](#cite_ref-Financial_Post_2-0)** Montigny, Philippe de (12 August 2014). ["A second wind: Extreme Venture Partners looks to 'import' entrepreneurs, invest in IoT, Big Data"](https://financialpost.com/entrepreneur/fp-startups/a-second-wind-extreme-venture-partners-looks-to-import-entrepreneurs-invest-in-iot-big-data). *Financial Post*. Retrieved 28 October 2014.

1. **[^](#cite_ref-The_Globe_and_Mail_3-0)** ["Ray Sharma talks about mobile, apps and games"](https://www.theglobeandmail.com/news/national/time-to-lead/ray-sharma-talks-about-mobile-apps-and-games/article1461510/). *The Globe and Mail*. 14 November 2010. Retrieved 29 October 2013.

1. **[^](#cite_ref-Business_Standard_4-0)** Kannan, Indira (21 November 2011). ["XMG Studio scouts for partner in India"](http://www.business-standard.com/article/technology/xmg-studio-scouts-for-partner-in-india-111112100049_1.html). *Business Standard India*. Business Standard. Retrieved 29 October 2013.

1. **[^](#cite_ref-5)** ["2024 Ivey Alumni Achievement Award Recipient Ray Sharma, HBA '96"](https://iveyday.ca/awards/ivey-alumni-achievement-award/2024-award-recipient/). *Ivey Business School*. Retrieved 3 October 2025.

1. ^ [***a***](#cite_ref-:1_6-0) [***b***](#cite_ref-:1_6-1) ["2024 Ivey Alumni Achievement Award Recipient Ray Sharma, HBA '96"](https://iveyday.ca/awards/ivey-alumni-achievement-award/2024-award-recipient/). *Ivey Business School*. Retrieved 9 April 2024.

1. **[^](#cite_ref-7)** Austen, Ian (29 January 2013). ["BlackBerry 10 Critical to Research in Motion"](https://www.nytimes.com/2013/01/30/technology/blackberry-10s-debut-is-a-critical-day-for-research-in-motion.html). *The New York Times*. [ISSN](/source/ISSN_(identifier)) [0362-4331](https://search.worldcat.org/issn/0362-4331). Retrieved 23 February 2022.

1. **[^](#cite_ref-8)** Montigny, Philippe de (12 August 2014). ["A second wind: Extreme Venture Partners looks to 'import' entrepreneurs, invest in IoT, Big Data"](https://financialpost.com/entrepreneur/fp-startups/a-second-wind-extreme-venture-partners-looks-to-import-entrepreneurs-invest-in-iot-big-data). *Financial Post*. Retrieved 21 October 2021.

1. **[^](#cite_ref-9)** Silcoff, Sean (23 September 2013). ["U.S. firm acquires Toronto-based Xtreme Labs"](https://www.theglobeandmail.com/report-on-business/industry-news/marketing/us-firm-acquires-toronto-based-xtreme-labs/article14447784/). *The Globe and Mail*. Retrieved 3 October 2025.

1. **[^](#cite_ref-10)** Keung, Nicholas (16 June 2017). ["Software startup abandons Trump's U.S. for 'welcoming' Toronto"](https://www.thestar.com/news/immigration/2017/06/16/software-startup-abandons-trumps-us-for-welcoming-toronto.html). *The Toronto Star*. [ISSN](/source/ISSN_(identifier)) [0319-0781](https://search.worldcat.org/issn/0319-0781). Retrieved 23 February 2022.

1. **[^](#cite_ref-11)** ["Another perspective on apps"](https://www.ft.com/content/cd1081b6-1051-11e1-8211-00144feabdc0). *Financial Times*. 22 November 2011. Retrieved 23 February 2022.

1. **[^](#cite_ref-Media_Caster_12-0)** ["Portable Media and the Business and Technology of iDevices"](https://web.archive.org/web/20131103032121/http://www.mediacastermagazine.com/news/portable-media-and-the-business-and-technology-of-idevices/1000374134/). *Media Caster*. Archived from [the original](http://www.mediacastermagazine.com/news/portable-media-and-the-business-and-technology-of-idevices/1000374134/) on 3 November 2013. Retrieved 29 October 2013.

1. **[^](#cite_ref-CrackBerry_13-0)** ["Developers speak: BlackBerry is making great progress"](https://crackberry.com/developers-speak-rim-making-great-progress). *CrackBerry*. 11 May 2012. Retrieved 29 October 2013.

1. **[^](#cite_ref-CBC_News_14-0)** ["TBS Prez Tony Clement talks open data at 'first ever' ministerial Google+ hangout"](https://web.archive.org/web/20130731104134/http://www.cbc.ca/newsblogs/politics/inside-politics-blog/2013/03/tbs-prez-tony-clement-talks-open-data-at-first-ever-ministerial-google-hangout.html). CBC News. Archived from [the original](http://www.cbc.ca/newsblogs/politics/inside-politics-blog/2013/03/tbs-prez-tony-clement-talks-open-data-at-first-ever-ministerial-google-hangout.html) on 31 July 2013. Retrieved 29 October 2013.

1. **[^](#cite_ref-Global_News_15-0)** ["Tony Clement discusses open data during Google+ hangout"](https://globalnews.ca/news/400649/tony-clement-discusses-open-data-during-google-hangout/). Global News. Retrieved 29 October 2013.

1. **[^](#cite_ref-16)** [*CTV coverage of the Great Canadian Appathon*](https://www.youtube.com/watch?v=UBnRLWYWXY4), retrieved 20 October 2021

1. **[^](#cite_ref-Financial_Post2_17-0)** Hartley, Matt (17 February 2011). ["National Post teams up with XMG Studio to launch first ever Great Canadian Appathon"](https://business.financialpost.com/2011/02/17/national-post-teams-up-with-xmg-studio-to-launch-first-ever-great-canadian-appathon/?__lsa=cd4d-1b57). *Financial Post*. Retrieved 29 October 2013.

1. **[^](#cite_ref-The_Globe_and_Mail2_18-0)** ["Can an Appathon create the next big thing in one weekend?"](https://www.theglobeandmail.com/technology/mobile/can-an-appathon-code-the-next-big-thing-in-one-weekend/article4582896/?page=1). The Globe and Mail. Retrieved 29 October 2013.

1. **[^](#cite_ref-19)** ["Great Canadian Appathon \[4\] Awards $35,000 To Student Game Makers"](https://www.betakit.com/great-canadian-appathon-4-awards-35000-to-student-game-makers/). 14 February 2014. Retrieved 25 March 2014.

1. **[^](#cite_ref-20)** Hutchison, Bill (20 March 2011). ["WebMania: Students compete at Great Canadian Appathon"](https://web.archive.org/web/20220223155738/https://toronto.ctvnews.ca/mobile/webmania-students-compete-at-great-canadian-appathon-1.621176). *Toronto*. Archived from [the original](https://toronto.ctvnews.ca/mobile/webmania-students-compete-at-great-canadian-appathon-1.621176) on 23 February 2022. Retrieved 23 February 2022.

1. **[^](#cite_ref-Pocket_Gamer_21-0)** ["XMG Studio's Ray Sharma points to the creative power of 48 hours hackathons"](http://www.pocketgamer.biz/r/PG.Biz/XMG+Studio+news/feature.asp?c=30055&srch=Ray+Sharma). Pocket Gamer.biz. Retrieved 29 October 2013.

1. **[^](#cite_ref-The_Globe_and_Mail3_22-0)** Sharma, Ray (18 April 2016). ["By sitting on the sidelines in fintech, Canada risks losing golden reputation in banking"](https://www.theglobeandmail.com/report-on-business/rob-commentary/by-sitting-on-the-sidelines-in-fintech-canada-risks-losing-golden-reputation-in-banking/article29658041/). *The Globe and Mail*.

1. **[^](#cite_ref-23)** ["Can start-ups get what they need from Canada's venture capital ecosystem?"](https://www.theglobeandmail.com/news/national/time-to-lead/can-start-ups-get-what-they-need-from-canadas-venture-capital-ecosystem/article1314250/). *The Globe and Mail*. 14 November 2010. Retrieved 20 October 2021.

1. **[^](#cite_ref-24)** Sharma, Ray (14 May 2015). ["Why I got rid of my Apple Watch in less than a week"](https://www.theglobeandmail.com/technology/gadgets-and-gear/why-i-got-rid-of-my-apple-watch-in-less-than-a-week/article24423578/). *The Globe and Mail*. Retrieved 20 October 2021.

1. **[^](#cite_ref-25)** Akkad, Omar El (5 October 2011). ["Steve Jobs: the man who changed your world"](https://www.theglobeandmail.com/technology/tech-news/steve-jobs-the-man-who-changed-your-world/article556389/). *The Globe and Mail*. Retrieved 20 October 2021.

1. **[^](#cite_ref-26)** ["Tiny entertainment cost-per-hour is the secret of apps' success, says XMG's Ray Sharma"](https://www.pocketgamer.com/interviews/tiny-entertainment-cost-per-hour-is-the-secret-of-apps-success-says-xmgs-ray-sharma/). *Pocket Gamer*. Retrieved 23 February 2022.

1. **[^](#cite_ref-27)** ["Apps are eating the global wireless spectrum, warns XMG's Ray Sharma"](https://www.pocketgamer.com/interviews/apps-are-eating-the-global-wireless-spectrum-warns-xmgs-ray-sharma/). *Pocket Gamer*. Retrieved 23 February 2022.

1. **[^](#cite_ref-28)** ["Archived - Open Government Engagement Team"](https://www.ontario.ca/page/open-government-engagement-team). *www.ontario.ca*. Retrieved 20 October 2021.

1. **[^](#cite_ref-Royal_Ontario_Museum_29-0)** ["ROM Trustees"](https://web.archive.org/web/20130623140145/http://www.rom.on.ca/en/about-us/rom-leadership/rom-trustees). Royal Ontario Museum. Archived from [the original](http://www.rom.on.ca/en/about-us/rom-leadership/rom-trustees) on 23 June 2013. Retrieved 29 October 2013.

1. **[^](#cite_ref-30)** ["Minister Clement Celebrates the Launch of CODE"](https://web.archive.org/web/20140326043648/http://www.reuters.com/article/2014/02/28/idUSnMKWdl1nna+1c0+MKW20140228). *[Reuters](/source/Reuters)*. 28 February 2014. Archived from [the original](https://www.reuters.com/article/2014/02/28/idUSnMKWdl1nna+1c0+MKW20140228) on 26 March 2014. Retrieved 25 March 2014.

1. **[^](#cite_ref-31)** ["Canada-wide hackathon to create apps using Canadian government data"](http://blogs.vancouversun.com/2014/01/20/canada-wide-hackathon-to-create-apps-using-canadian-government-data/). 20 January 2014. Retrieved 25 March 2014.

1. **[^](#cite_ref-32)** ["The opportunity of open data and the importance of hackathons | BetaKit"](https://betakit.com/the-opportunity-of-open-data-and-the-importance-of-hackathons/). 24 February 2015. Retrieved 23 February 2022.

1. **[^](#cite_ref-33)** Andrea Woo (10 December 2018). ["Bonding over bots: Hackergal teaches Canadian girls about coding"](https://www.theglobeandmail.com/canada/british-columbia/article-bonding-over-bots-hackergal-teaches-canadian-girls-about-coding/). *The Globe and Mail*. Retrieved 20 October 2021.

1. **[^](#cite_ref-34)** ["SideDrawer attracts venture industry and technology veteran Ray Sharma to its Board of Directors"](https://blog.sidedrawer.com/news/ray-sharma-board-addition). *blog.sidedrawer.com*. Retrieved 12 January 2023.

1. **[^](#cite_ref-35)** ["Ontario judge rules against Xtreme Labs co-founders, Chamath Palihapitiya in Tinder-focused lawsuit | BetaKit"](https://betakit.com/ontario-judge-rules-against-xtreme-labs-co-founders-chamath-palihapitiya-in-tinder-focused-lawsuit/). 15 May 2019. Retrieved 20 October 2021.

1. **[^](#cite_ref-36)** MacMillan, Douglas (11 March 2015). ["Tinder Hook Up Leads to a Lawsuit"](https://www.wsj.com/articles/tinder-hook-up-leads-to-a-lawsuit-1426100168). *Wall Street Journal*. [ISSN](/source/ISSN_(identifier)) [0099-9660](https://search.worldcat.org/issn/0099-9660). Retrieved 20 October 2021.

1. **[^](#cite_ref-37)** ["2024 Ivey Alumni Achievement Award Recipient Ray Sharma, HBA 96"](https://iveyday.ca/awards/ivey-alumni-achievement-award/2024-award-recipient/). *Ivey Business School*. Retrieved 3 October 2025.

## External links

- [Extreme Venture Partners Website](https://evp.vc/)

- [Hackworks Website](https://www.hackworks.com)

- [Hackergal Website](https://hackergal.org/)

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Adapted from the Wikipedia article [Ray Sharma](https://en.wikipedia.org/wiki/Ray_Sharma) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Ray_Sharma?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.