Ray Muzyka

Dr. Ray Muzyka co-founded BioWare in the early 1990s with Dr. Greg Zeschuk after earning his medical degree at the University of Alberta. He practiced rural emergency and family medicine in Northern Alberta for two years full time, then shifted medicine to part-time while leading BioWare as CEO through the 1990s and 2000s.

BioWare received a major private-equity investment from Elevation Partners in 2005 and was sold to Electronic Arts in early 2008. After the sale, Muzyka became a General Manager and Vice President at EA while continuing as BioWare CEO; in 2009 he was promoted to Senior Vice President and Group General Manager of EA’s BioWare Label, which ThresholdImpact says had eight studios, about 2,000 full-time plus part-time staff, and about $500 million in annual revenue by 2012.

In October 2012, Muzyka retired from BioWare/EA and began a third career chapter focused on mentoring and investing in entrepreneurs in technology, new media, medical diagnostics and therapeutics, social entrepreneurship, and impact investing. He founded ThresholdImpact in 2012 and remains its Founder and CEO.

Muzyka holds a BMedSci from the University of Alberta, an MD from the University of Alberta, a CCFP, an MBA from Ivey Business School, and an ICD.D designation. He was inducted into the Order of Canada in 2018, the Academy of Interactive Arts and Sciences Hall of Fame in 2011, and the Alberta Business Hall of Fame in 2018. He is also a Creative Destruction Lab mentor and has been named CDL Mentor of the Year twice, including CDL-Vancouver Mentor Fellow of the Year for 2024-2025.

• ThresholdImpact describes its thesis as “sustainable, profitable impact investing” in disruptive information technology, new media, and medical innovations.
• The firm looks for capable entrepreneurs, ideally with clear social goals, and says it seeks both business profit and social returns.
• Muzyka’s LinkedIn profile describes his focus as health/biotech/medical innovations, deep tech, and social enterprise / impact.
• His investing record includes pre-seed and seed rounds, with some Series A exposure; in a 2024 post about the Medical Device Commercialization Playbook, he described his investor perspective as covering pre-seed, seed, and Series A diligence.
• Leva Capital says he founded ThresholdImpact to invest in purpose-driven ventures in healthtech, medtech, biotech, and deep tech, and has invested in over 100 startups across more than 200 financing rounds.