Social entrepreneur, investor Mawji gives back to community
As a kid, Ashif Mawji's fascination with how things worked often drew his parents' wrath.
“They didn't like me opening up the VCR or TV to see how they worked,” he said. “I often couldn't put them back together.”
Now an admired Edmonton social entrepreneur and investor, Mawji says he was 12 years old in his native Kenya when he found watches equally complicated and fascinating — and began selling them at trade shows.
“My parents taught me I could have anything I wanted if I worked hard,” he said. “I found a merchant who would give me watches on consignment and I would sell them and take a portion of the profits.
“I have always had an affinity for watches and have about 80 now. I love all the diverse designs, complications and colours.”
It seems natural that when later introduced to computers in his native Kenya, the inquisitive youngster would quickly see potential.
“I loved computers and instead of playing games on them, I learned how to program,” said Mawji.
His family came to Canada in 1987, he later graduated from NAIT'S computer systems technology program and went straight into IT consulting, creating his own company.
“I built relationships, demonstrated my work ethic and ultimately was part of winning a $60-million IT outsourcing deal.”
Mawji's first business transaction was purchasing an Alberta lake cottage and selling it to almost double his investment.
He next made a handsome bonus when he bought a waterfront condominium in Vancouver and then went on to invest in commercial buildings in the U.S. and Europe.
In 2006, Mawji made his first angel investment — an “angel” is a high net-worth individual who provides financial backing for small startups or entrepreneurs.
More than a decade ago, Mawji, now 50, sold his Upside Software company for undisclosed tens of millions of dollars and is now presently invested in more than 110 companies around the world and in more than 10 funds.
A venture partner with Silicon Valley's Rising Tide, a venture capital firm funding entrepreneurs that help carry the founders' visions, Mawji also serves as managing director for Scalegood Fund LP, a social impact venture company that seeks great financial results and measurable social impact outcomes.
“I know I can't work for anyone, so the entrepreneurial route is the best path for me,” he said. “I am not afraid of risk-taking.”
The entrepreneur has helped a great many Edmonton community-based organizations.
The many boards he has served on include chairing both the Edmonton Police Foundation and the Alberta Young Presidents Organization.
He has also served on the boards of the Edmonton Oilers Community Foundation; Kids Kottage; Economic Development Edmonton; the U of A Hospital Foundation; the Stollery Children's Hospital Foundation; the Citadel Theatre and Edmonton Opera.
“Giving back to the community is something my parents taught me and it's part of our Muslim faith,” said Mawji.
“We're taught to always give back, even when you don't have much. There is a saying: `A rising tide lifts all boats,' which suggests the more we all give back, the better we all become.”
Some of Mawji's community recognition includes being honoured with the Queen's Golden and Diamond Jubilee Medals and Alberta's Centennial Medal. He is a recipient, for three years in a row, of Canada's 50 Best Managed Companies award; recognized as one of NAIT'S top 50 graduates in 50 years and is now serving as honorary colonel for the Canadian Army's 20th Field Artillery Regiment.
Mawji praises his wife Zainul for her part in his success and says if there was a real Wonder Woman, it would be her.
“She is by far the smartest, kindest, most wonderful person I know,” he said. “Any success I've achieved is because of her unconditional support.”
Zainul, the gold-medallist in her MBA program, is today a Telus executive vice-president, managing some 10,000 staff and responsible for several billion dollars in revenue.
“She keeps our family together, ensuring our kids Aariz, aged 12, and Kinza, 16, focus on school and are well rounded, kind and inclusive,” said her husband.
“We are both Type A people and like to be super busy and productive. But we have found a work-fun balance now and take our children on overseas trips every year.”
The family all love the Oilers, dating back to the days when Mawji shared time with the likes of Wayne Gretzky, Kevin Lowe and Mark Messier. Today, Connor Mcdavid and Leon Draisaitl have been known to drop by the Mawji home for a refreshing beverage and charitable events.
Mawji has some tips for investors: “Automation is going to be key to success in every industry. The more you can do quickly and with precision and accuracy, the better.”
He adds: “Edmonton now has its wings as a tech-savvy city and folks from around the world are noticing we have among the best talent — the top 3 — in artificial intelligence and machine learning.”