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Ray Cao

Ray Cao

Serial entrepreneur, venture partner, and co-founder of digitally native brands

ray-cao
Toronto, Ontario, Canada
Joined June 2025

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Summary

Ray Cao is a highly accomplished serial entrepreneur with a track record of founding, scaling, and selling multiple businesses across consumer and B2B sectors. He leverages his extensive experience in e-commerce and digitally native brands to identify and grow new ventures, as evidenced by his role at Touring Capital and Agora Brands. touringcapital+2
He possesses a strong ability to innovate business models, as demonstrated by Exact Media's success in monetizing empty space in e-commerce packages, leading to profitability from inception. His entrepreneurial journey is characterized by learning from mistakes and rapidly adapting to market dynamics, transitioning from initial ventures in software and subscription boxes to more successful models. forbes
Beyond direct entrepreneurship, Ray is an active investor and advisor, guiding founders and CEOs of growth-stage companies like CommerceIQ, Extend, and GoBolt. He also fosters community and knowledge sharing within the commerce ecosystem through initiatives like the Commerce Summit. touringcapital

Work

Education

Notes

AFAllan Fischsaid
RCRay Cao
has made smart and impactful early-stage investments in hyperlocal delivery tech startups.

Nov 19, 2025