Police say the suspect who gunned down 37-year-old tech entrepreneur Matthew Staikos in Yorkville on Monday targeted him but may not have known who he was, as investigators continue to search for a motive.

“It appears that the shooter did intend to shoot Mr. Staikos, whether the shooter knew who Mr. Staikos was, that is something we are trying to determine,” Det. Omar Khan told reporters Friday afternoon.

Staikos was fatally shot while walking near Yorkville Avenue and Bay Street at around 11:30 p.m. on Monday.

Khan said Staikos was walking east on Yorkville Avenue approaching the intersection with Bay Street when a silver or grey Mercedes sedan rolled up behind him and a friend.

A man got out and fired several shots at Staikos before getting back into the Mercedes. Staikos was pronounced dead at the scene.

The Mercedes was last seen travelling southbound on Bay Street. A three-second-long surveillance camera clip of the Mercedes was released to the public on Friday.

The shooting suspect is described as a black male standing five-foot-ten inches tall with a slim to medium build. He was wearing dark clothing and is in his 20s to late 30s.

“They’re not only struggling with the loss of their loved one, they cannot grasp why something this would have happened,” Khan said of Staikos’ family and friends’ reaction to the shooting.

Police said it appears there was no provocation of any kind leading up to the shooting. Khan said the friend Staikos was walking with at the time of the attack is cooperating fully with the investigation.

“This was an unprovoked attack on a defenseless man.”

Staikos was the CEO of Vleepo, a messaging app startup with operations in Toronto and Larissa, Greece.