The initiation of a new lineage of Madhwa Matha in the form of Shri Madhwa Kanwa Matha, has an interesting background to it. Shri Madhava Teertharu was the first Pontiff of this Matha. His poorvashrama name was Shri Venkateshachar. Before he was initiated as a Sanayasi, he had a Dream. Shri Shesha Devaru came in the dream and told him that very soon he will be in contact with a Yati of Madhwa Parampare and he should request that Yati to grant him Diksha/Sanyasa and start spreading the greatness of Lord Hari and the Dvaita Philosophy.
In few days, Shri Lakshmimanohara Teertharu, the 25th Pontiff of Shri Shiroor Matha, visited Surpur, where Shri Venkateshachar lived. On seeing Shri Venkateshachar, Shri Lakshmimanohara Teertha Swamiji immediately understood the lord's wish and asked Shri Venkateshachar to accompany him to Udupi. Shri Venkatesachar was initiated as a Sanyasi by Shri Laksmimanohara Teertha Swamiji in Udupi and was named as Shri Madhava Teertharu.
This is how, Shri Kanva Matha was established in 1796 and Shri Madhava Teertharu became the first Pontiff of the Math.