Foundation EGI is flipping the script on industrial engineering.

We’re welcoming Foundation EGI to the McRock portfolio – a team reimagining how engineers create, solve, and scale in the industrial space. They’re not just building another GenAI wrapper. They’re creating the world’s first Engineering General Intelligence (EGI) system that understands the language of engineering and puts it to work.

Foundation just announced a $23M oversubscribed Series A, bringing its total funding to over $30M. The raise will accelerate its vision: turning manufacturing’s biggest bottlenecks into breakthroughs using domain-specific AI.

We’re in good company on the cap table, alongside Translink Capital, RRE Ventures, Escape Investment Management (Jim Scapa), Fifth Growth Fund, and returning backers including E14 Fund, Union Labs, GRIDS Capital, and Henry Ford III.

Foundation’s platform speaks engineering.

The company’s AI-native platform blends natural language interfaces with structured reasoning to produce precise, deterministic results. Whether generating documentation, annotating drawings, or supporting design tasks, Foundation integrates directly into engineering workflows.

It works with what engineers already use: CAD files, BOMs, simulation inputs. And it outputs something that’s too often missing from GenAI products: accuracy.

It does what great engineers – not algorithms – do best: it knows when to question the rules, and when to break them.

This is engineering intelligence, not just artificial intelligence.

“What excites me most about Foundation EGI is how human the technology feels,” shared Whitney Rockley, Co-founder and Managing Partner of McRock Capital. “They’re not just chasing AI trends. They’re building tools that empower engineers to dream bigger, move faster, and stay in control of the creative process.”

It’s hard to modernize engineering software.

Legacy tools are deeply embedded. Processes are rigid. Data lives in silos. Foundation takes a different approach; they’re not replacing the tools engineers rely on. They’re building connective tissue that makes those tools smarter, faster, and more adaptable.

At McRock, we back industrial software that solves real problems. Foundation is doing just that. Its agentic architecture and flexible DSLs allow the platform to expand across a range of engineering workflows, from design to simulation to manufacturing.

And it comes at a critical time. Industrial organizations are under pressure to innovate faster while dealing with talent shortages, aging tools, and increasing complexity. Foundation offers a new path to scale engineering output without compromising accuracy or control.

The technology is strong, the use cases are real, and the execution to date has been focused and thoughtful. But what really stands out is the team’s clarity of purpose. They are building with discipline, and they understand both the pain and the potential in this space.

Built for engineers. Backed by believers

We’re joining a strong group of institutional investors who share our conviction in Foundation’s capacity to reshape engineering software. While others are caught up in GenAI hype, this team is grounded in the real-world challenges engineers face every day.

This kind of company gets you excited about what’s possible. Not with flashy demos or loose promises, but with sharp thinking and solid execution.

We’re proud to back the Foundation team as they build something ambitious, differentiated, and much needed in the world of industrial tech.

Curious about what this means for your industry?

So were we. Let’s just say this one has our full attention.

Udit Bhatnagar promoted to Partner at McRock Capital.

What do blank canvases, broken machinery and chaotic moments have in common?

Most people view them with trepidation.

Udit Bhatnagar meets them with anticipation.

McRock’s newest partner (congrats, Udit!) is a man on a mission. He’s drawn to problems – messy, complex, high-stakes ones – and the creative work of making sense of them.

He was raised at the intersection of science and creativity. His father, a respected engineer in plastics and manufacturing. His mother, an artist at heart.

“She gave me permission to start with a blank canvas and believe it could become something meaningful,” he says.

And, blank canvas after metaphorical blank canvas…it did.

Udit studied industrial engineering at university, then moved into tech – working across India, Spain and Japan over a seven-year span. That chapter, he shares, was defined by a restless drive to solve. Every time he cracked a problem, he was already reaching for the next.

But when the time came to specialize, as one often does in tech, Udit pushed back. Instead of narrowing in, he zoomed out. He enrolled in an MBA with the intention of going into consulting, chasing problems across industries instead of inside one. It was during this time he discovered the world of venture capital.

“I knew it was my path. It checked all my boxes – it was intellectually fulfilling, I was problem-solving with founders and investors, and I was chasing the white space – those bold, new ideas that live where no one else is looking yet.”

That pursuit of white space led Udit into VC right after completing his MBA. He spent a year and a half immersed in the world of startups and investing.

It also led him and his wife to make one of the biggest decisions of their lives: to leave behind a strong family network and stable jobs in India, and move to Toronto with their 6-month-old son. Did we mention it was in the dead of winter, and they had no network or job offers?

“It didn’t feel like a blank canvas…if I’m honest, it felt like a snowstorm,” says Udit. “We had conviction. But that doesn’t mean it was easy.”

Another blank canvas. Another opportunity to build something meaningful.

“I met Ha first,” Udit recalls. “We were both immigrants, both working in VC, and she was thriving at a firm that valued her voice and perspective. When I met Scott and Whitney, it just reaffirmed that McRock was where I wanted to be.”

It wasn’t just the people. It was the philosophy.

“There’s a subtle grit to McRock – a fine balance between staying humble and feeling driven to compete and win. You don’t let success go to your head…or failure.”

That mindset resonated deeply. It’s now part of the foundation Udit stands on – and the one he helps uphold.

“Udit brings a rare combination of precision, presence and the ability to play all the bases,” says Whitney, Co-Founder and Managing Partner. “He can break down complexity in a boardroom and bring calm to chaos, and he does it all with quiet, intellectual conviction. Adding Udit to the partnership not only recognizes his strengths, it rounds out and elevates the team in a way that makes us stronger together.”

Udit brings more than venture capital expertise to the table. He speaks the language of engineers and technologists because he’s been one. He understands the realities of scaling and building in industrial settings. And he brings sharp judgment, calm under pressure, and a deep respect for the founder’s journey.

He’s not just operating in the overlap…he is the overlap.

Ha’s Journey in VC: From Breaking Barriers to Shaping the Future

The McRock women are making history. When the Canadian Venture Capital & Private Equity Association (CVCA) launched its Women in Private Capital Awards in 2023, Whitney Rockley took home the first-ever Woman of Achievement award. Fast forward to 2025, and we’re celebrating another major milestone – Ha Nguyen has been named a VC Rising Woman Star.

That’s two major CVCA wins for the women of McRock in just a few years. With both female partners now recognized, Scott might be wondering when it’s his turn. But today is all about Ha – another big win for a powerhouse investor.

Ha’s journey to this moment is anything but ordinary. She landed in Canada with big ambitions, navigated challenges, and carved her own path in a male-dominated industry. Now, as a McRock Partner, she’s doing what she does best – investing in game-changing companies and proving that VC isn’t just about capital; it’s about people.

With this recognition, Ha’s influence in VC is undeniable. We sat down with her to explore what this award means, the key moments that shaped her path, and what’s ahead.

McRock: “VC Rising Woman Star” – congrats! What does this award mean to you, and what were the game-changing moments that got you here?

Ha: It has a very ‘Outstanding New Artist’ Grammy feel to it, doesn’t it? But much like those winners, I’ve been working at this for a while.

I see this award as another sign from the universe that I’m in the right place. I kind of fell into VC, and when I stepped away briefly, I felt drawn back. VC has its chaos – unpredictable, dramatic, but that’s what makes it exciting. Every time the rollercoaster slowed, I got another sign to stay on the ride – meeting Whitney & Scott in 2017, making partner in 2022, and being named Alberta Ecosystem MVP last year.

I still remember when Whitney called to offer me the job. The second we hung up, I couldn’t stop jumping up and down. The feeling was like a rush of soothing water spreading through me, expanding until it filled every part of me, warming me from head to toe. My first Canadian winter couldn’t compete. This award reaffirms that I’m exactly where I’m meant to be – not just in the right career, but with the right team.

McRock: Good point. Maybe ‘trailblazer’ is a better term than ‘rising star’?

Ha: I like that. Trailblazers create paths others can use – and the more people build on those paths, the more accessible they become. I’d like to think I helped create that path for others.

There are many talented people out there with backgrounds similar to mine. The fact that I made it means others can too. As more people like me enter VC, it will become the norm, not the exception.

McRock: The VC world talks a lot about gender diversity. What’s something you wish it would actually do?

Ha: I think our industry has started to evolve, but I’d love to see more intentional changes in how we network. Not everyone can stay out late, drink, or play golf. While networking can be enjoyable (sometimes), the setting plays a huge role in making it meaningful. We need new ways to connect – ones that foster deeper conversations and let people share their stories in the most authentic and impactful way.

McRock: If you could give one unfiltered, no-BS piece of advice to women looking to break into VC, what would it be?

Ha: If someone doesn’t like you for who you are, don’t waste energy trying to win their approval. Don’t internalize it. Instead, seek out people who align with your vision and genuinely value you. And trust me, you will find those people.

McRock: If you had to put money on one major shift in VC over the next five years, what’s your bet?

Ha: The future belongs to specialist VCs. In an increasingly competitive market, differentiation is key. Companies need investors who bring more than capital – real expertise, strategic insight, and the ability to create value beyond the dollars. This is also why a diverse range of investor backgrounds is more critical than ever.

McRock isn’t just diverse – it’s built that way. Whitney and Scott founded McRock at a time when most VC came from old money. As entrepreneurs themselves, they’ve built a firm on integrity and doing things the right way, even when it’s hard. That gives us a deep sense of empathy and respect for the founders we work with.

The CVCA could have picked anyone – but they chose Ha Nguyen. And they got it right.

At McRock, we’ve always believed that venture capital is about vision, resilience, and leadership, and Ha embodies all three. The CVCA wins for McRock women at the Women in Private Capital Awards highlight something rare in our industry – McRock is one of the few investment firms where female investment decision-makers outnumber their male counterparts. It’s proof that talent wins deals, and great leadership shapes industries.

Congrats, Ha. This is just the beginning.

 

Fasih’s journey to McRock: A story of bold moves, big decisions, and building a future with heart.

For me, it all started in 8th grade with numbers. I wasn’t just solving equations; I was unraveling patterns and cracking codes. Numbers didn’t just make sense – they lit me up. While most parents in my region dreamed of their kids becoming engineers, I was the odd one out. By the time I graduated 10th standard, my dad was still nudging me to “keep my options open,” but I was calm, clear, and laser-focused on where I was heading.

At the time, I didn’t fully grasp just how massive the world of finance was – accounting, auditing, taxation, treasury, corporate finance. I didn’t know which lane was mine, but I knew I loved numbers and problem-solving. It was enough for me.

Finding My Path

During my studies, corporate finance caught my eye, and there was no turning back. It wasn’t just interesting – it felt like home. But breaking into the field where I lived was no walk in the park. M&A opportunities were rare, and internships even scarcer.

So, I started where I could: auditing and accounting. It wasn’t my dream gig, but I rolled up my sleeves and got to work. Eventually, I decided to bet on myself and try my luck in the Middle East. At first, I landed another accounting role – not exactly what I’d envisioned. But after two years of persistence, I finally got my break. I dove headfirst into corporate finance, tackling LOIs, due diligence, and M&A activities. For the first time, I felt like I was exactly where I was meant to be.

Love Changes Everything

Just as my career was hitting its stride, life threw me a plot twist. I got married, and my wife wasn’t too keen on settling in the Middle East. That meant packing up, moving back to my home country, and walking away from the role I’d worked so hard to get.

It could’ve been a setback, but it wasn’t. Armed with experience, a little savings, and my wife’s unwavering support, I landed a corporate finance M&A role with a North American company back home. This wasn’t just a job – it was a game-changer, the boost I needed to leap into the next chapter.

Stepping into Venture Capital

Venture capital was always a curiosity for me. I knew the headlines – Amazon, Uber, Airbnb – but the inner workings of VC? That was a mystery. Then, a Southeast Asian firm handed me the opportunity to step into the ecosystem, and I was hooked. Finally, I could see how the gears turned, and I couldn’t get enough.

Finding My Place in Canada

Eventually, my wife and I decided to make one last big move – this time to Canada. The VC ecosystem in Canada might be smaller, but I knew it was where I’d find the most happiness in my work.

Eight months after arriving, I joined McRock Capital. Now, I get to spend every day doing what I love – helping founders turn their dreams into reality. The journey has been full of twists and turns, but every step has led me here. And I can’t wait to see what comes next.

Not all heroes wear capes—some super-charge ecosystems.

That’s exactly what Ha Nguyen has been doing as a Partner at McRock Capital, Advisory Board Member of Migr8, and now, the 2024 Ecosystem Supporter of the Year by Start Alberta. It’s the Oscars of Alberta tech (minus the red carpet, plus innovation).

And no one deserves it more. Ha isn’t just part of Alberta’s tech scene—she’s a driving force behind its success. Since moving to Alberta seven years ago, she’s been helping startups, scale-ups, and immigrant entrepreneurs thrive. As she puts it, “I wanted to create a system to welcome brilliant entrepreneurs from all over the world, making them feel valued and supported, just as I have felt since coming here.”

That vision became Migr8, a powerhouse initiative with two sides: Migr8 Capital, a venture fund, and Migr8+, a nonprofit supporting immigrant entrepreneurs with resources and community. Think of it as a launchpad for innovators—because sometimes grit needs a little lift.

Ha’s impact doesn’t stop there. She’s a bridge-builder, connecting newcomers to Alberta’s dynamic tech network, from Evolve Lab to Edmonton Unlimited. The result? A stronger, more diverse innovation community where collaboration drives resilience.

Ha’s story mirrors Alberta’s spirit: bold, collaborative, and relentlessly forward-thinking. Her work is proof that diversity fuels innovation and inclusion strengthens everyone.

What’s next for Ha? Probably more groundbreaking initiatives and another well-deserved accolade. In the meantime, check out this video to see why Ha’s influence is extraordinary: Watch Here.

Here’s to Ha—breaking barriers, raising the bar, and making Alberta’s tech community stronger every day.