{"generatedAt":"2026-05-20T23:10:47.338Z","source":"Airtable:CFOFractalca:Investors enhanced CA (live)","count":122,"stats":{"byStage":{"Series A":77,"Series B+":47,"Pre-seed":69,"Seed":99},"byProvince":{"ON":74,"NS":7,"NB":6,"NL":5,"PE":5,"QC":59,"BC":36,"AB":29,"MB":5,"SK":7,"OTHER":1},"byType":{"VC":104,"Public":7,"Angel":4,"CVC":6,"Other":1},"leadCount":111,"convictionPurePlay":41,"lastUpdated":"May 20, 2026"},"sectors":["AI / ML","Climate / Energy","Cybersecurity","Deeptech / Hardware","Devtools / Infra","Fintech / Insurtech","Generalist (no thesis)","Healthtech / Biotech","Marketplace / Consumer","SaaS / Vertical SaaS","Web3 / Crypto"],"investors":[{"id":"rec01","slug":"raiven-capital","name":"Raiven Capital","type":"VC","conviction":"tech-actif","stages":["Series A","Series B+"],"sectors":["AI / ML","Climate / Energy","Cybersecurity","Fintech / Insurtech","Healthtech / Biotech","Devtools / Infra","Deeptech / Hardware","Marketplace / Consumer","SaaS / Vertical SaaS"],"ticket":{"min":500000,"max":3000000,"currency":"CAD","label":"$500k to $3M CAD"},"leadFollow":"Both","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2018,"fundSize":{"value":255,"currency":"CAD","vintage":2024},"activity":"Selectif","lastDealDate":"2025-09-23","website":"https://raivencapital.com","linkedinURL":"https://www.linkedin.com/company/raivencapital/","logo":"/assets/vc-logos/raiven-capital.png?v=4","logoBgColor":"#10B981","thesis":{"en":"Multi-fund platform investing globally at the early stage in highly scalable digital platforms built on AI and IoT to unlock value across industrial value chains. Raiven operates from Toronto, Silicon Valley and Dubai, with Fund A in Toronto, Fund B in DIFC Dubai (US$125M) and Climatech Fund C (US$100M, 2024). The team backs technical founders attacking large incumbent value chains with software-led disruption. Active globally with a pragmatic conviction posture on platform economics.","fr":"Plateforme multi-fonds investissant en early-stage à l'échelle mondiale. Raiven cible des plateformes numériques hautement scalables basées sur l'IA et l'IoT pour débloquer la valeur dans les chaînes de valeur. Le Fund A (Toronto), le Fund B (DIFC Dubaï, 125 M$ US) et le Climatech Fund C (100 M$ US, 2024) opèrent depuis Toronto, la Silicon Valley et Dubaï."},"tagline":{"en":"AI and IoT plays, three-continent footprint.","fr":"Paris IA et IoT, presence trois continents."},"valueAdd":{"en":["Three-continent footprint","AI and IoT expertise","Climatech dedicated fund","Dubai and Silicon Valley reach","Cross-border expansion support"],"fr":["Empreinte trois continents","Expertise IA et IoT","Fonds climatech dédié","Portée Dubaï et Silicon Valley","Soutien expansion transfrontalière"]},"followOnNarrative":{"en":"Raiven follows on selectively across its three funds (Toronto, Dubai, climatech) and brings in Middle East and US co-investors for Series B+ rounds. Follow-on conviction is driven by enterprise traction in one of the three hub geographies.","fr":"Raiven suit selectivement a travers ses trois fonds (Toronto, Dubai, climatech) et fait entrer des co-investisseurs Moyen-Orient et americains pour les Series B+. La conviction de suivi repose sur la traction entreprise dans l'un des trois hubs."},"keyQuestions":{"en":["Which value chain are you targeting and how does AI or IoT structurally change its economics?","Are you ready to engage Middle East or US enterprise customers from one of our hubs?","What is the fastest geography for your first $1M ARR, and why?"],"fr":["Quelle chaîne de valeur ciblez-vous et comment l'IA ou l'IoT en change structurellement l'économie?","Êtes-vous prêts à engager des clients entreprise Moyen-Orient ou États-Unis depuis l'un de nos hubs?","Quelle est la géographie la plus rapide pour votre premier million d'ARR, et pourquoi?"]},"coInvestors":[{"name":"Builders VC","slug":"builders-vc"},{"name":"B Capital","slug":"b-capital"},{"name":"Reefknot Investments","slug":"reefknot-investments"},{"name":"Urban Innovation Fund","slug":"urban-innovation-fund"},{"name":"Khosla Ventures","slug":"khosla-ventures"},{"name":"US Venture Partners","slug":"us-venture-partners"}],"people":[{"fullName":"Supreet Manchanda","role":"Founding General Partner","linkedinURL":"https://www.linkedin.com/in/supreetm/","initials":"SM","avatarBgColor":"#534AB7"},{"fullName":"Paul Dugsin","role":"Founding General Partner","linkedinURL":"https://www.linkedin.com/in/pdugsin/","initials":"PD","avatarBgColor":"#1D9E75"},{"fullName":"James Baty","role":"Operating Partner","linkedinURL":"","initials":"JB","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Vertical Harvest","sector":"Climate / Energy","stage":"Series A","year":2025},{"name":"Elevated Signals","sector":"SaaS / Vertical SaaS","stage":"Series A","year":2024},{"name":"Wayout","sector":"Climate / Energy","stage":"Series A","year":2024},{"name":"Trilio","sector":"Cybersecurity","stage":"Series B+","year":2022},{"name":"Shopistry","sector":"SaaS / Vertical SaaS","stage":"Series A","year":null},{"name":"Whizmo","sector":"Fintech / Insurtech","stage":"Seed","year":null},{"name":"KnowWake","sector":"Marketplace / Consumer","stage":"Seed","year":null},{"name":"Pratexo","sector":"Deeptech / Hardware","stage":"Seed","year":null}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.raivencapital.com/team","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec02","slug":"concrete-ventures","name":"Concrete Ventures","type":"VC","conviction":"generaliste","stages":["Pre-seed","Seed"],"sectors":["SaaS / Vertical SaaS","AI / ML","Fintech / Insurtech","Devtools / Infra"],"ticket":{"min":100000,"max":750000,"currency":"CAD","label":"$100k to $750k CAD"},"leadFollow":"Both","province":["NS","NB","NL","PE"],"hq":{"city":"Halifax","region":"NS"},"languages":["EN"],"founded":2019,"fundSize":{"value":18,"currency":"CAD","vintage":2019},"activity":"Actif","lastDealDate":"2025-06-04","website":"https://www.concrete.vc/","linkedinURL":"https://ca.linkedin.com/company/concrete-ventures","logo":"/assets/vc-logos/concrete-ventures.png?v=4","logoBgColor":"#534AB7","thesis":{"en":"Concrete Ventures is a Halifax-based pre-seed venture capital fund founded in 2019 by Patrick Hankinson (co-founder of Tether, founder of Compilr acquired by lynda.com/LinkedIn). The fund reached approximately $18M CAD with backing from the New Brunswick Innovation Foundation and other Atlantic LPs, targeting $18.5M. Invests $100K to $750K cheques exclusively in pre-seed Atlantic Canada startups, often leading or co-leading rounds. Portfolio includes SalesRight, Rally, Motryx, Proof and Securicy. Operator GP background brings real founder empathy at the earliest stage.","fr":"Concrete Ventures est un fonds de capital de risque pre-seed basé à Halifax, fondé en 2019 par Patrick Hankinson (co-fondateur de Tether, fondateur de Compilr acquis par lynda.com puis LinkedIn). Le fonds a atteint environ 18 M$ CAD avec un appui de la New Brunswick Innovation Foundation et d'autres LPs atlantiques, avec une cible de 18,5 M$. Investit des chèques de 100 k$ à 750 k$ exclusivement en pre-seed dans des startups atlantiques, souvent en lead ou co-lead. Portefeuille incluant SalesRight, Rally, Motryx, Proof, Securicy. Le bagage opérateur du GP apporte une vraie empathie fondateur au stade le plus précoce."},"tagline":{"en":"Atlantic Canada's leading pre-seed fund.","fr":"Le fonds pre-seed de référence en Atlantique."},"valueAdd":{"en":["Atlantic Canada pre-seed specialization","Operator GP (Tether, Compilr exits)","NBIF and Atlantic LP base","Lead capacity at pre-seed","Halifax hub presence"],"fr":["Spécialisation pre-seed Atlantique","GP opérateur (sorties Tether, Compilr)","LP NBIF et atlantiques","Capacité de lead au pre-seed","Présence hub Halifax"]},"followOnNarrative":{"en":"On a $18M fund Concrete reserves disciplined pro-rata for seed extensions and warm-intros Build Ventures, BDC Capital, Innovacorp and NBIF for Series A leads. Founders should plan an 18-month pre-seed runway to a clear Atlantic Series A handoff.","fr":"Sur un fonds de 18 M$, Concrete reserve un pro-rata discipline pour les extensions seed et fait des intros chaudes vers Build Ventures, BDC Capital, Innovacorp et NBIF pour les leads en Serie A. Les fondateurs doivent prevoir un runway pre-seed de 18 mois vers un handoff Serie A atlantique clair."},"keyQuestions":{"en":["Are you incorporated in Atlantic Canada (NS, NB, NL, PE), and is the team based there?","What specifically can a $250k to $500k pre-seed cheque from a hands-on operator unlock?","What does your 18-month plan to a Build Ventures Series A look like?"],"fr":["Êtes-vous incorporé en Atlantique (NS, NB, NL, PE), et l'équipe est-elle basée là?","Que débloque concrètement un chèque pre-seed de 250 à 500 k$ d'un opérateur impliqué?","À quoi ressemble votre plan 18 mois vers une Série A menée par Build Ventures?"]},"coInvestors":[{"name":"Build Ventures","slug":"build-ventures"},{"name":"NBIF","slug":"nbif"},{"name":"Innovacorp","slug":"innovacorp"},{"name":"BDC Capital","slug":"bdc-capital"}],"people":[{"fullName":"Patrick Hankinson","role":"General Partner","linkedinURL":"https://ca.linkedin.com/in/phankinson","initials":"PH","avatarBgColor":"#534AB7"}],"portfolio":[{"name":"Spellbook","sector":"AI / ML","stage":"Series A","year":2024},{"name":"Innerlogic","sector":"AI / ML","stage":"Seed","year":2024},{"name":"TrojAI","sector":"Cybersecurity","stage":"Seed","year":2024},{"name":"3D Bio-Fibr","sector":"Deeptech / Hardware","stage":"Seed","year":2025},{"name":"Securicy","sector":"Cybersecurity","stage":"Pre-seed","year":null},{"name":"Proof","sector":"SaaS / Vertical SaaS","stage":"Pre-seed","year":null}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.concrete.vc/about/","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec03","slug":"bdc-capital","name":"BDC Capital","type":"Public","conviction":"generaliste","stages":["Pre-seed","Seed","Series A","Series B+"],"sectors":["Climate / Energy","Deeptech / Hardware","Healthtech / Biotech","AI / ML"],"ticket":{"min":250000,"max":15000000,"currency":"CAD","label":"$250K-$15M+"},"leadFollow":"Both","province":["QC"],"hq":{"city":"Montreal","region":"QC"},"languages":["EN","FR"],"founded":1975,"fundSize":{"value":4000,"currency":"CAD","vintage":2024},"activity":"Tres actif","lastDealDate":"2026-04-10","website":"https://www.bdc.ca/en/bdc-capital","linkedinURL":"https://www.linkedin.com/company/bdc-capital","logo":"/assets/vc-logos/bdc-capital.png?v=4","logoBgColor":"#F97316","thesis":{"en":"Investment arm of the Business Development Bank of Canada and the most active pre-seed and seed investor in the country (~20 seed deals in 2025 alone). BDC Capital deploys through dedicated thematic funds (Deep Tech, Climate Tech, Women in Technology, Healthcare) with cheques from $250K to $15M. Generalist on paper but with sharp vertical convictions, BDC backs founders both in metro hubs and across regional Canada. The platform prioritizes patience and follow-on capacity, often syndicating alongside private Canadian funds and international co-leads.","fr":"Bras d'investissement de la Banque de developpement du Canada, BDC Capital est l'investisseur en capital de risque le plus actif au pays au stade pre-amorcage et amorcage (environ 20 deals seed en 2025). La plateforme deploie via des fonds thematiques dedies (Deep Tech, Climate Tech, Women in Technology, Healthcare). Cheques de 250K$ a 15M$, generaliste sur le papier mais avec de fortes convictions verticales. BDC accompagne autant les fondateurs en region que les champions urbains, en privilegiant la patience et la suite via syndication avec les fonds prives canadiens."},"tagline":{"en":"Canada's most active seed investor, coast to coast.","fr":"L'investisseur seed le plus actif au Canada."},"valueAdd":{"en":["Bilingual support","Thematic funds","Government network","Follow-on reserves","Ecosystem reach"],"fr":["Soutien bilingue","Fonds thematiques","Reseau gouvernemental","Reserves follow-on","Portee ecosysteme"]},"followOnNarrative":{"en":"Deep balance sheet allows BDC to follow through Series A and B via Growth Equity Partners and thematic funds, often syndicating alongside Canadian leads.","fr":"Le bilan profond de BDC permet de suivre jusqu'en serie A et B via Growth Equity Partners et les fonds thematiques, souvent en syndication avec les leads canadiens."},"keyQuestions":{"en":["How does this investment expand Canada's tech sovereignty?","What is your hiring plan in Canada over the next 24 months?","Which thematic fund (Deep Tech, Climate, Women) is the right home for this?"],"fr":["En quoi cet investissement renforce la souverainete techno du Canada?","Quel est votre plan d'embauche au Canada sur les 24 prochains mois?","Quel fonds thematique (Deep Tech, Climate, Women) correspond le mieux a votre dossier?"]},"coInvestors":[{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"Real Ventures","slug":"real-ventures"},{"name":"Radical Ventures","slug":"radical-ventures"},{"name":"Telus Ventures","slug":"telus-ventures"},{"name":"Export Development Canada","slug":"export-development-canada"}],"people":[{"fullName":"Geneviève Bouthillier","role":"Managing Partner, Deep Tech","linkedinURL":"https://www.linkedin.com/in/genevievebouthillier/","initials":"GB","avatarBgColor":"#534AB7"},{"fullName":"Joseph Regan","role":"Managing Partner, Industrial Innovation Venture Fund","linkedinURL":"https://www.linkedin.com/in/joseph-regan-21b98b3/","initials":"JR","avatarBgColor":"#1D9E75"},{"fullName":"Aditya Aggarwal","role":"Managing Partner, Industrial Innovation Venture Fund II","linkedinURL":"","initials":"AA","avatarBgColor":"#A32D2D"},{"fullName":"Mona Minhas","role":"Managing Partner, Thrive Venture Fund","linkedinURL":"","initials":"MM","avatarBgColor":"#712B13"},{"fullName":"Parimal Nathwani","role":"Managing Partner, Life Sciences Venture Fund","linkedinURL":"","initials":"PN","avatarBgColor":"#0EA5E9"},{"fullName":"Mike Notto","role":"Partner, Growth Equity Partners","linkedinURL":"https://www.linkedin.com/in/mike-notto-a692a32a/","initials":"MN","avatarBgColor":"#F59E0B"}],"portfolio":[{"name":"Flora Fertility","sector":"Healthtech / Biotech","stage":"Seed","year":2026},{"name":"Canada Rocket Company","sector":"Deeptech / Hardware","stage":"Seed","year":2026},{"name":"Mecademic","sector":"Deeptech / Hardware","stage":"Growth","year":2026},{"name":"Cybrid","sector":"Fintech / Insurtech","stage":"Series A","year":2025},{"name":"Cyclic Materials","sector":"Climate / Energy","stage":"Series A","year":2023},{"name":"SRTX","sector":"Deeptech / Hardware","stage":"Growth","year":2025},{"name":"GeologicAI","sector":"Deeptech / Hardware","stage":"Series B+","year":2024}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.bdc.ca/en/bdc-capital/venture-capital/funds","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec04","slug":"innovobot-resonance-ventures","name":"Innovobot Resonance Ventures","type":"VC","conviction":"pure-play","stages":["Pre-seed","Seed"],"sectors":["Deeptech / Hardware","AI / ML","Climate / Energy"],"ticket":{"min":500000,"max":2000000,"currency":"CAD","label":"$500k to $2M CAD"},"leadFollow":"Lead","province":["QC","ON"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2022,"fundSize":{"value":14,"currency":"CAD","vintage":2025},"activity":"Actif","lastDealDate":"2024-03-01","website":"https://www.innovobot.com/irv-fund/","linkedinURL":"https://www.linkedin.com/company/innovobot/","logo":"/assets/vc-logos/innovobot-resonance-ventures.png?v=4","logoBgColor":"#A855F7","thesis":{"en":"Innovobot Resonance Ventures is a Montreal seed-stage deep tech fund, relaunched in 2025 under Managing Partner Neha Khera with a sharpened mandate and fresh capital (a $3M Eureka mandate from Investissement Quebec, late 2025). It backs technical founders building deep tech, AI and climate hardware, leading pre-seed and seed rounds in Canadian deep tech startups.","fr":"Innovobot Resonance Ventures est un fonds montrealais d'amorcage en deeptech, relance en 2025 sous la direction de Neha Khera avec un mandat resserre et du capital frais (mandat Eureka de 3 M$ d'Investissement Quebec, fin 2025). Le fonds soutient des fondateurs techniques en deeptech, IA et materiel climatique, et mene des tours de pre-amorcage et d'amorcage dans des startups deeptech canadiennes."},"tagline":{"en":"Seed-stage deep tech for good.","fr":"Deeptech a impact, au stade amorcage."},"valueAdd":{"en":["Deep tech operating expertise","Hardware and prototyping support","Investissement Quebec relationship","Climate and AI focus","Hands-on seed-stage lead"],"fr":["Expertise operationnelle deeptech","Soutien materiel et prototypage","Relation avec Investissement Quebec","Focus climat et IA","Lead implique au stade amorcage"]},"followOnNarrative":{"en":"Innovobot Resonance Ventures reserves capital for follow-on into its strongest deep tech companies and brings in Quebec and Canadian co-investors for Series A. Follow-on conviction rests on technical milestones and early commercial validation.","fr":"Innovobot Resonance Ventures reserve du capital pour suivre ses meilleures entreprises deeptech et fait entrer des co-investisseurs quebecois et canadiens en serie A. La conviction de suivi repose sur les jalons techniques et la premiere validation commerciale."},"keyQuestions":{"en":["What is the hardest technical risk in your roadmap, and how will the seed round retire it?","Do you have a credible path from prototype to a first paying customer within 18 months?","How does your technology deliver a measurable climate or industrial impact?"],"fr":["Quel est le risque technique le plus dur de votre feuille de route, et comment le tour d'amorcage le neutralise-t-il?","Avez-vous un chemin credible du prototype au premier client payant en moins de 18 mois?","En quoi votre technologie genere-t-elle un impact climatique ou industriel mesurable?"]},"coInvestors":[],"people":[{"fullName":"Neha Khera","role":"Managing Partner","linkedinURL":"","initials":"NK","avatarBgColor":"#534AB7"},{"fullName":"Zoya Shchupak","role":"Founding Managing Partner","linkedinURL":"","initials":"ZS","avatarBgColor":"#1D9E75"}],"portfolio":[{"name":"Oneka Technologies","sector":"Climate / Energy","stage":"Series A","year":2024},{"name":"CarbiCrete","sector":"Climate / Energy","stage":"","year":null},{"name":"Ecofilter Tek","sector":"Deeptech / Hardware","stage":"","year":null}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.innovobot.com/irv-fund/","lastVerifiedAt":"2026-05-20","editorialLevel":"Long tail (FR only)"},{"id":"rec05","slug":"audaxa-ventures","name":"Audaxa Ventures","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed"],"sectors":["Climate / Energy","Healthtech / Biotech"],"ticket":{"min":500000,"max":1700000,"currency":"CAD","label":"$500K-$1.7M"},"leadFollow":"Both","province":["QC","ON","BC","AB"],"hq":{"city":"Vancouver","region":"BC"},"languages":["EN"],"founded":2021,"fundSize":null,"activity":"Selectif","lastDealDate":"2024-04-01","website":"https://audaxaventures.com/","linkedinURL":"https://www.linkedin.com/company/audaxaventures/","logo":"/assets/vc-logos/audaxa-ventures.png?v=4","logoBgColor":"#712B13","thesis":{"en":"Vancouver early-stage fund (formerly theVenture.Fund) backing women and non-binary founders at the climate and health intersection. Audaxa plays a bridge role between angel rounds and institutional VC, led by Hilary Kilgour. Three known investments to date (Save Da Sea, Farm From a Box, Circonomy) at seed stage. Member of the new coalition strengthening Canadian pre-seed and seed capital. Best suited for diverse founders building dual-impact ventures who need a partner that understands the angel-to-VC transition.","fr":"Fonds vancouvérois early-stage (anciennement theVenture.Fund) qui finance des fondatrices et fondateurs non-binaires à l'intersection climat-santé. Audaxa joue un rôle de pont entre l'angel et le VC institutionnel. Membre de la nouvelle coalition pour renforcer le capital pre-seed et seed au Canada. Trois investissements connus à ce jour, dirigés par Hilary Kilgour."},"tagline":{"en":"Climate-health bridge for women founders.","fr":"Pont climat-santé pour fondatrices."},"valueAdd":{"en":["Climate-health intersection","Women and non-binary focus","Angel-to-VC bridge","Vancouver network","Diversity-led conviction"],"fr":["Intersection climat-santé","Focus femmes et non-binaires","Pont angel à VC","Réseau vancouvérois","Conviction axée diversité"]},"followOnNarrative":{"en":"Audaxa writes early cheques alongside angels and helps founders package their next round for institutional Series A leads in Vancouver and Toronto. The team is active in introductions to the coalition's network of pre-seed and seed funds.","fr":"Audaxa ecrit des cheques tot aux cotes des anges et aide les fondateurs a structurer leur prochain tour pour des leads de Serie A institutionnels a Vancouver et Toronto. L'equipe est active dans les intros au reseau de la coalition des fonds pre-seed et seed."},"keyQuestions":{"en":["How does your solution address both climate and health outcomes?","What is your plan to graduate from angel rounds to institutional Series A?","How does your team's lived experience inform your unfair advantage?"],"fr":["Comment votre solution répond-elle à la fois aux enjeux climatiques et de santé?","Quel est votre plan pour passer des tours angel à une Série A institutionnelle?","En quoi le vécu de votre équipe nourrit-il votre avantage compétitif?"]},"coInvestors":[],"people":[{"fullName":"Hilary Kilgour","role":"Co-Founder & Managing Partner","linkedinURL":"https://www.linkedin.com/in/hilarykilgour/","initials":"HK","avatarBgColor":"#534AB7"}],"portfolio":[{"name":"Save Da Sea","sector":"Climate / Energy","stage":"Seed","year":2024},{"name":"Farm From a Box","sector":"Climate / Energy","stage":"Seed","year":2023},{"name":"Circonomy","sector":"Marketplace / Consumer","stage":"Seed","year":2023}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://audaxaventures.com/","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec06","slug":"quantacet","name":"Quantacet","type":"VC","conviction":"pure-play","stages":["Pre-seed","Seed","Series A"],"sectors":["Deeptech / Hardware"],"ticket":{"min":250000,"max":2000000,"currency":"CAD","label":"$250K-$2M"},"leadFollow":"Lead","province":["QC"],"hq":{"city":"Sherbrooke","region":"QC"},"languages":["EN","FR"],"founded":2023,"fundSize":{"value":20,"currency":"CAD","vintage":2023},"activity":"Tres actif","lastDealDate":"2026-04-16","website":"https://www.quantacet.com/en/","linkedinURL":"https://www.linkedin.com/company/quantacet/","logo":"/assets/vc-logos/quantacet.png?v=4","logoBgColor":"#F97316","thesis":{"en":"Canada's first venture capital fund dedicated to quantum technologies and adjacent deeptech. Based in Sherbrooke with a Montreal presence, Quantacet leverages the deep talent pipeline of Universite de Sherbrooke and the Institut quantique. The fund closed an initial $20M CAD in November 2023 and invests at pre-seed and seed in quantum startups worldwide (hardware, software, applications, post-quantum security). Cheques range from $250K to $2M with a lead posture. Co-led by Martin Laforest, Chloe Archambault and Ghyslain Goulet, the team brings a rare combination of deep scientific expertise, academic network and operational support.","fr":"Quantacet est le premier fonds de capital de risque canadien dédié aux technologies quantiques et au deeptech associé. Basé à Sherbrooke (avec une présence à Montréal), il s'appuie sur l'écosystème de l'Université de Sherbrooke et de l'Institut quantique. Premier closing à 20 M$ CA en novembre 2023, l'équipe investit en pré amorçage et amorçage dans des startups quantiques mondiales (matériel, logiciel, applications, sécurité post quantique). Tickets de 250 K$ à 2 M$, en posture lead. Co dirigé par Martin Laforest, Chloé Archambault et Ghyslain Goulet, Quantacet apporte une rare combinaison d'expertise scientifique profonde, de réseau académique et d'accompagnement opérationnel."},"tagline":{"en":"Canada's first quantum-tech VC, lead at pre-seed/seed","fr":"Premier VC quantique canadien, lead en amorçage"},"valueAdd":{"en":["Deep quantum expertise","Sherbrooke / IQ ecosystem","Talent recruiting (PhDs)","Government program navigation","Global quantum syndication"],"fr":["Expertise quantique pointue","Écosystème Sherbrooke et IQ","Recrutement de talents (doctorats)","Navigation des programmes gouvernementaux","Syndication quantique mondiale"]},"followOnNarrative":{"en":"Quantacet selectively follows on into priced Series A rounds and actively brings in international deep tech investors. The fund leans on its scientific advisory board to validate technical milestones before doubling down.","fr":"Quantacet suit sélectivement dans les tours de Série A et fait entrer des investisseurs deeptech internationaux. Le fonds s'appuie sur son comité scientifique pour valider les jalons techniques avant de remettre au pot."},"keyQuestions":{"en":["Is your quantum technology (hardware, software, applications, security) backed by peer-reviewed science or proprietary IP?","Have you identified a near-term application or commercial pilot that goes beyond research?","Are you open to building from Quebec / Sherbrooke or to connecting deeply with Canada's quantum ecosystem?"],"fr":["Votre technologie quantique (matériel, logiciel, applications, sécurité) repose-t-elle sur des publications évaluées par les pairs ou de la PI propriétaire ?","Avez-vous identifié une application de court terme ou un pilote commercial qui va au-delà de la recherche ?","Êtes-vous ouverts à bâtir depuis le Québec ou Sherbrooke et à vous ancrer profondément dans l'écosystème quantique canadien ?"]},"coInvestors":[{"name":"Investissement Quebec","slug":"investissement-quebec"},{"name":"Fonds de solidarite FTQ","slug":"fonds-de-solidarite-ftq"},{"name":"BDC Capital Deep Tech","slug":"bdc-capital-deep-tech"},{"name":"Real Ventures","slug":"real-ventures"},{"name":"Quantonation","slug":"quantonation"}],"people":[{"fullName":"Martin Laforest","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/martin-laforest-phd/","initials":"ML","avatarBgColor":"#534AB7"},{"fullName":"Chloe Archambault","role":"Partner","linkedinURL":"https://www.linkedin.com/in/chlo%C3%A9-archambault-1986a742/","initials":"CA","avatarBgColor":"#1D9E75"},{"fullName":"Ghyslain Goulet","role":"Partner","linkedinURL":"https://www.linkedin.com/in/ghyslain-goulet-86720016/","initials":"GG","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Nord Quantique","sector":"Deeptech / Hardware","stage":"Seed","year":2023},{"name":"Photonic Inc.","sector":"Deeptech / Hardware","stage":"Seed","year":2024},{"name":"Ki3 Photonics","sector":"Deeptech / Hardware","stage":"Pre-seed","year":2024},{"name":"Quandela","sector":"Deeptech / Hardware","stage":"Seed","year":2024},{"name":"Qubic Technologies","sector":"Deeptech / Hardware","stage":"Pre-seed","year":2025}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.quantacet.com/en/","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec07","slug":"vanedge-capital","name":"Vanedge Capital","type":"VC","conviction":"tech-actif","stages":["Seed","Series A","Series B+"],"sectors":["AI / ML","Climate / Energy","Cybersecurity","Fintech / Insurtech","Healthtech / Biotech","Devtools / Infra","SaaS / Vertical SaaS"],"ticket":{"min":1000000,"max":15000000,"currency":"CAD","label":"$1M-$15M"},"leadFollow":"Both","province":["BC"],"hq":{"city":"Vancouver","region":"BC"},"languages":["EN"],"founded":2010,"fundSize":{"value":330,"currency":"CAD","vintage":2023},"activity":"Actif","lastDealDate":"2025-12-15","website":"https://www.vanedgecapital.com/","linkedinURL":"https://www.linkedin.com/company/vanedge-capital/","logo":"/assets/vc-logos/vanedge-capital.png?v=4","logoBgColor":"#3B82F6","thesis":{"en":"Vancouver-based venture firm focused on early-stage companies aligned with emerging tech trends, including next-generation analytics, AI, cybersecurity, fintech, healthtech and disruptive hardtech platforms. With approximately $500M CAD in cumulative AUM and Fund IV anchored by InBC, Vanedge invests from pre-seed through Series A with cheques of $1M to $15M CAD as lead or co-lead. The team plays an active role on pricing, go-to-market and downstream fundraising into US growth capital. Built for ambitious technical founders who want a hands-on Canadian lead with US bridge expertise.","fr":"Vanedge Capital est un fonds de capital de risque basé à Vancouver, spécialisé dans les entreprises early-stage à composante technologique forte. La thèse couvre la prochaine génération d'analytique, l'IA, la cybersécurité, la fintech, la healthtech et les plateformes deeptech ou hardware disruptives. Avec ~500 M$ CA d'AUM cumulés et un Fonds IV soutenu notamment par InBC, l'équipe investit de la pré amorçage à la Série A, tickets de 1 à 15 M$ CA, en lead ou en co lead. Vanedge se positionne comme partenaire actif sur le pricing, le go to market et la levée des tours subséquents auprès de fonds américains."},"tagline":{"en":"Vancouver early-stage VC for hard tech and AI","fr":"VC early-stage à Vancouver, hard tech et IA"},"valueAdd":{"en":["Hard tech expertise","US Series B network","Product strategy","Recruiting","Pricing & GTM"],"fr":["Expertise hard tech","Réseau Série B américain","Stratégie produit","Recrutement","Pricing et GTM"]},"followOnNarrative":{"en":"Vanedge maintains material reserves to support portfolio through Series A and B and actively syndicates with US tier-1 funds. Founders are expected to share monthly KPI dashboards and a clear path to follow-on milestones.","fr":"Vanedge maintient des réserves significatives pour accompagner ses participations en Séries A et B et syndique activement avec des fonds américains de premier rang. On attend des fondateurs un tableau de bord KPI mensuel et un chemin clair vers les jalons des tours subséquents."},"keyQuestions":{"en":["Is your technology defensible (IP, data moat, hardware advantage) versus generic AI or SaaS?","Do you have at least early commercial validation (LOIs, pilots, paying customers)?","Are you building from BC or Western Canada with a global ambition from day one?"],"fr":["Votre technologie est-elle défendable (PI, fossé de données, avantage hardware) face à de l'IA ou SaaS générique ?","Avez-vous au moins une validation commerciale initiale (LOI, pilotes, clients payants) ?","Construisez-vous depuis la C.-B. ou l'Ouest canadien avec une ambition mondiale dès le départ ?"]},"coInvestors":[{"name":"BDC Capital","slug":"bdc-capital"},{"name":"InBC Investment Corp","slug":"inbc-investment-corp"},{"name":"Yaletown Partners","slug":"yaletown-partners"},{"name":"Real Ventures","slug":"real-ventures"},{"name":"Inovia Capital","slug":"inovia-capital"}],"people":[{"fullName":"V. Paul Lee","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/paul-lee-64b68716/","initials":"VP","avatarBgColor":"#534AB7"},{"fullName":"Moe Kermani","role":"Managing Partner","linkedinURL":"https://ca.linkedin.com/in/moe-kermani-8915a01","initials":"MK","avatarBgColor":"#1D9E75"},{"fullName":"Amy Rae","role":"Partner","linkedinURL":"https://www.linkedin.com/in/amy-rae-6308391","initials":"AR","avatarBgColor":"#A32D2D"},{"fullName":"Darren Thomson","role":"Partner","linkedinURL":"https://www.linkedin.com/in/darren-thomson-5a0270a/","initials":"DT","avatarBgColor":"#712B13"},{"fullName":"Jonathan Saari, PhD","role":"Investment Team","linkedinURL":"https://www.linkedin.com/in/jonathansaari/","initials":"JS","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"NeuroBionics","sector":"Healthtech / Biotech","stage":"Seed","year":2025},{"name":"Mojo Vision","sector":"Deeptech / Hardware","stage":"Series B+","year":2025},{"name":"Forterra","sector":"Deeptech / Hardware","stage":"Series B+","year":2024},{"name":"Axine Water Technologies","sector":"Climate / Energy","stage":"Growth","year":2024},{"name":"Sanctuary AI","sector":"AI / ML","stage":"Series A","year":2020},{"name":"D-Wave Systems","sector":"Deeptech / Hardware","stage":"Series B+","year":2014}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.vanedgecapital.com/","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec08","slug":"whitecap-venture-partners","name":"Whitecap Venture Partners","type":"VC","conviction":"tech-actif","stages":["Seed","Series A","Series B+"],"sectors":["AI / ML","Climate / Energy","Fintech / Insurtech","Healthtech / Biotech","Devtools / Infra","SaaS / Vertical SaaS","Marketplace / Consumer"],"ticket":{"min":2000000,"max":8000000,"currency":"CAD","label":"$2M-$8M"},"leadFollow":"Both","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":1990,"fundSize":{"value":140,"currency":"CAD","vintage":2021},"activity":"Actif","lastDealDate":"2026-04-23","website":"https://whitecapvp.com/","linkedinURL":"https://www.linkedin.com/company/whitecap-venture-partners/","logo":"/assets/vc-logos/whitecap-venture-partners.png?v=4","logoBgColor":"#712B13","thesis":{"en":"One of Canada's most established VC franchises, Toronto-based Whitecap was founded in 1990 and pursues a whitespace investing thesis: backing exceptional entrepreneurs disrupting B2B software and MedTech. Fund V closed at approximately $140M in 2021. The team writes meaningful cheques with a disciplined conviction posture, often leading or co-leading rounds in companies that have validated early traction. Recent activity includes the Felix investment in October 2025. Whitecap pairs sector depth with patient capital and full-cycle support.","fr":"VC torontois fondé en 1990, Whitecap mise sur le whitespace investing et soutient des entrepreneurs exceptionnels en logiciels B2B et MedTech. Le Fonds V a clôturé à environ 140 M$ en 2021. Approche disciplinée et tickets significatifs. Investissement récent dans Felix en octobre 2025. Une des franchises VC les plus établies au pays."},"tagline":{"en":"B2B software and MedTech, since 1990.","fr":"Logiciels B2B et MedTech, depuis 1990."},"valueAdd":{"en":["35-year track record","B2B software depth","MedTech expertise","Disciplined capital","Series A intros"],"fr":["35 ans d'historique","Expertise logiciels B2B","Savoir-faire MedTech","Capital discipliné","Intros Série A"]},"followOnNarrative":{"en":"Whitecap maintains material reserves on a $140M Fund V and supports portfolio companies through Series B with disciplined pro-rata. The team syndicates actively with BDC, OMERS Ventures and Alate Partners for downstream growth rounds.","fr":"Whitecap maintient des reserves significatives sur un Fonds V de 140 M$ et accompagne ses sociétés jusqu'en Serie B avec un pro-rata discipline. L'equipe syndique activement avec BDC, OMERS Ventures et Alate Partners pour les rondes de croissance subsequentes."},"keyQuestions":{"en":["What whitespace are you addressing that incumbents have missed?","How do you scale ARR efficiently from seed to Series B?","What does your enterprise sales motion look like at $5M ARR?"],"fr":["Quel whitespace adressez-vous que les acteurs établis ont manqué?","Comment faites-vous croître l'ARR efficacement du seed à la Série B?","À quoi ressemble votre motion de vente entreprise à 5 M$ d'ARR?"]},"coInvestors":[{"name":"Brightspark Ventures","slug":"brightspark-ventures"},{"name":"Mantella Venture Partners","slug":"mantella-venture-partners"},{"name":"Diagram","slug":"diagram"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"OMERS Ventures","slug":"omers-ventures"},{"name":"Amplify Capital","slug":"amplify-capital"},{"name":"Alate Partners","slug":"alate-partners"},{"name":"Matchstick Ventures","slug":"matchstick-ventures"}],"people":[{"fullName":"Carey Diamond","role":"Partner","linkedinURL":"","initials":"CD","avatarBgColor":"#534AB7"},{"fullName":"Russell Samuels","role":"Partner","linkedinURL":"","initials":"RS","avatarBgColor":"#1D9E75"},{"fullName":"Shayn Diamond","role":"Partner","linkedinURL":"","initials":"SD","avatarBgColor":"#A32D2D"},{"fullName":"Blaine Hobson","role":"Partner","linkedinURL":"","initials":"BH","avatarBgColor":"#712B13"},{"fullName":"Kim Coote","role":"Partner","linkedinURL":"","initials":"KC","avatarBgColor":"#0EA5E9"},{"fullName":"Melissa Belbeck","role":"Partner","linkedinURL":"","initials":"MB","avatarBgColor":"#F59E0B"},{"fullName":"Sarah Hartkorn","role":"Partner","linkedinURL":"","initials":"SH","avatarBgColor":"#EC4899"},{"fullName":"Jacob Topatigh","role":"Partner","linkedinURL":"","initials":"JT","avatarBgColor":"#14B8A6"}],"portfolio":[{"name":"Future Fertility","sector":"Healthtech / Biotech","stage":"Series A","year":2026},{"name":"Frugal AI","sector":"AI / ML","stage":"Seed","year":2025},{"name":"Deep Sky","sector":"Climate / Energy","stage":"Series A","year":2024},{"name":"InvestNext","sector":"Fintech / Insurtech","stage":"Series B+","year":2025},{"name":"Felix","sector":"Healthtech / Biotech","stage":"Series B+","year":2025},{"name":"Altrio","sector":"SaaS / Vertical SaaS","stage":"Series A","year":2023},{"name":"Vetster","sector":"Marketplace / Consumer","stage":"Series B+","year":2021},{"name":"PartnerStack","sector":"SaaS / Vertical SaaS","stage":"Series B+","year":2021}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://whitecapvp.com/portfolio","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec09","slug":"evok-innovations","name":"Evok Innovations","type":"VC","conviction":"pure-play","stages":["Series A","Series B+"],"sectors":["Climate / Energy"],"ticket":{"min":5000000,"max":20000000,"currency":"CAD","label":"$5M to $20M CAD"},"leadFollow":"Lead","province":["BC"],"hq":{"city":"Vancouver","region":"BC"},"languages":["EN"],"founded":2016,"fundSize":{"value":500,"currency":"CAD","vintage":2022},"activity":"Actif","lastDealDate":"2025-09-22","website":"https://www.evokinnovations.com","linkedinURL":"https://www.linkedin.com/company/evok-innovations/","logo":"/assets/vc-logos/evok-innovations.png?v=4","logoBgColor":"#EC4899","thesis":{"en":"Vancouver-based climate VC originally backed by Suncor, Cenovus and the BC Cleantech Alliance, now operating as an independent platform. Evok backs exceptional founders building hard tech solutions in carbon management, clean fuels, critical minerals and electrification across Canada and the US, with cheques of $5M to $20M CAD from Series A onward. Fund II first close hit US$300M in 2022, bringing the platform above $500M CAD AUM. The team is composed of operators with deep hard tech experience who guide founders through industrial scaling and complex commercial deployments.","fr":"VC climat basé à Vancouver, à l'origine soutenu par Suncor, Cenovus et la BC Cleantech Alliance, devenu un fonds indépendant. Cible la gestion du carbone, les carburants propres, les minéraux critiques et l'électrification, avec des tickets de 5 à 20 M$ CAD à partir de la Série A. Fonds II first close à 300 M USD en 2022, plus de 500 M$ CAD sous gestion. Une équipe d'opérateurs hard tech qui pilote des entreprises canadiennes et américaines à fort contenu industriel."},"tagline":{"en":"Independent climate VC for hard tech founders","fr":"VC climat indépendant pour fondateurs hard tech"},"valueAdd":{"en":["Industrial pilots","Hard tech operations","Strategic LP access","Energy network"],"fr":["Pilotes industriels","Opérations hard tech","Accès LP stratégique","Réseau énergie"]},"followOnNarrative":{"en":"Fund II's $300M+ size enables Evok to lead Series A and reserve capital for follow-on rounds across hardware-intensive climate companies.","fr":"La taille du Fonds II (plus de 300 M USD) permet à Evok de mener des Séries A et de réserver du capital pour les suivis sur des sociétés climat à forte intensité matérielle."},"keyQuestions":{"en":["How does Evok unlock pilots and offtakes with strategic energy and industrial partners?","What is the firm's approach to project finance versus equity for capital-intensive deployments?","What follow-on capacity exists for portfolio companies scaling beyond Series A?"],"fr":["Comment Evok débloque t il des pilotes et des contrats d'achat avec ses partenaires énergie et industriels?","Quelle est l'approche du fonds entre financement de projet et équité pour les déploiements capitalistiques?","Quelle capacité de suivi existe pour les sociétés du portefeuille au delà de la Série A?"]},"coInvestors":[{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Breakthrough Energy Ventures","slug":"breakthrough-energy-ventures"},{"name":"Chrysalix Venture Capital","slug":"chrysalix-venture-capital"},{"name":"Temasek","slug":"temasek"},{"name":"Suncor Energy","slug":"suncor-energy"}],"people":[{"fullName":"Marty Reed","role":"Co-Founder & Managing Partner","linkedinURL":"https://www.linkedin.com/in/martyreed/","initials":"MR","avatarBgColor":"#534AB7"},{"fullName":"Jane Kearns","role":"Partner","linkedinURL":"https://www.linkedin.com/in/janekearns/","initials":"JK","avatarBgColor":"#1D9E75"},{"fullName":"Naynika Chaubey","role":"Partner","linkedinURL":"https://www.linkedin.com/in/naynika-chaubey-96170a9/","initials":"NC","avatarBgColor":"#A32D2D"},{"fullName":"Mike Biddle","role":"Partner","linkedinURL":"https://www.linkedin.com/in/mike-biddle-34384/","initials":"MB","avatarBgColor":"#712B13"}],"portfolio":[{"name":"Svante","sector":"Climate / Energy","stage":"Series B+","year":2017},{"name":"MineSense","sector":"Climate / Energy","stage":"Series A","year":2016},{"name":"Ekona Power","sector":"Climate / Energy","stage":"Series A","year":2021},{"name":"Carbon Engineering","sector":"Climate / Energy","stage":"Series B+","year":2019},{"name":"Eavor Technologies","sector":"Climate / Energy","stage":"Series A","year":2018}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.evokinnovations.com/about","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec10","slug":"diagram-ventures","name":"Diagram Ventures","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed","Series A","Series B+"],"sectors":["Climate / Energy","AI / ML","Cybersecurity","Fintech / Insurtech","Healthtech / Biotech","Devtools / Infra","Deeptech / Hardware","Marketplace / Consumer","SaaS / Vertical SaaS"],"ticket":{"min":500000,"max":4000000,"currency":"CAD","label":"$500k to $4M CAD"},"leadFollow":"Lead","province":["QC"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2016,"fundSize":{"value":255,"currency":"CAD","vintage":2024},"activity":"Actif","lastDealDate":"2026-04-23","website":"https://diagram.vc/","linkedinURL":"https://www.linkedin.com/company/diagram-ventures/","logo":"/assets/vc-logos/diagram-ventures.png?v=4","logoBgColor":"#F59E0B","thesis":{"en":"Montreal-based venture studio and venture capital firm affiliated with Sagard. Diagram launches and invests in transformative technology companies in Fintech, Web3, ClimateTech and HealthTech across Canada and the US. Cheques of $500K to $4M CAD from pre-seed through Series A, with a lead posture. The platform totals about $295M CAD: Fund III ($100M+ in 2022), Opportunity Fund ($60M) and ClimateTech Fund ($80M, closed 2024). Distinctive feature: Diagram co-builds some companies from zero with founders, operating as a true studio rather than a passive investor.","fr":"Studio de venture et fonds de capital de risque montréalais affilié à Sagard, qui lance et investit dans des sociétés transformatrices en Fintech, Web3, ClimateTech et HealthTech au Canada et aux États Unis. Tickets de 500 K à 4 M$ CAD du pré amorçage à la Série A, en lead. Plateforme totale d'environ 295 M$ CAD : Fonds III (100 M$+ en 2022), Opportunity Fund (60 M$) et ClimateTech Fund (80 M$, clôturé en 2024). Particularité : Diagram cobâtit certaines sociétés depuis zéro avec ses fondateurs, à la manière d'un studio."},"tagline":{"en":"Venture studio + VC for fintech, climate, health","fr":"Studio et VC pour fintech, climat et santé"},"valueAdd":{"en":["Venture studio support","Sagard ecosystem","Co-founding muscle","ClimateTech vehicle"],"fr":["Soutien studio","Écosystème Sagard","Capacité de cofondation","Véhicule ClimateTech"]},"followOnNarrative":{"en":"Diagram pairs Fund III with a $60M Opportunity Fund and a $80M ClimateTech Fund to follow on into both regular and climate-specific rounds.","fr":"Diagram associe le Fonds III à un Opportunity Fund de 60 M$ et un ClimateTech Fund de 80 M$ pour suivre à la fois les rondes classiques et les rondes climat dédiées."},"keyQuestions":{"en":["When does Diagram act as a pure investor versus a venture-studio co-founder?","What does Sagard's broader ecosystem (asset management, financial services) unlock for portfolio companies?","How does the dedicated ClimateTech Fund interact with the main fund for follow-on rounds?"],"fr":["Quand Diagram agit il comme pur investisseur plutôt que comme cofondateur via le studio?","Que débloque l'écosystème Sagard (gestion d'actifs, services financiers) pour les sociétés du portefeuille?","Comment le ClimateTech Fund dédié interagit il avec le fonds principal sur les suivis?"]},"coInvestors":[{"name":"Sagard","slug":"sagard"},{"name":"Portage Ventures","slug":"portage-ventures"},{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Real Ventures","slug":"real-ventures"}],"people":[{"fullName":"Francois Lafortune","role":"Co-Founder & CEO","linkedinURL":"https://ca.linkedin.com/in/flafortune","initials":"FL","avatarBgColor":"#534AB7"},{"fullName":"Paul Desmarais III","role":"Co-Founder & Chairman","linkedinURL":"https://www.linkedin.com/in/pauldesmaraisiii/","initials":"PD","avatarBgColor":"#1D9E75"},{"fullName":"Guillaume Marion","role":"Partner","linkedinURL":"https://ca.linkedin.com/in/guillaumemarion","initials":"GM","avatarBgColor":"#A32D2D"},{"fullName":"Amélie Foz-Couture","role":"Partner","linkedinURL":"https://ca.linkedin.com/in/ameliefc","initials":"AF","avatarBgColor":"#712B13"}],"portfolio":[{"name":"Future Fertility","sector":"Healthtech / Biotech","stage":"Series A","year":2026},{"name":"Coral","sector":"Fintech / Insurtech","stage":"Seed","year":2026},{"name":"JetScale AI","sector":"AI / ML","stage":"Seed","year":2026},{"name":"Synctera","sector":"Fintech / Insurtech","stage":"Series A","year":2025},{"name":"Veritree","sector":"Climate / Energy","stage":"Series A","year":2025},{"name":"Nesto","sector":"Fintech / Insurtech","stage":"Growth","year":2024}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://diagram.vc/about-us/","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec11","slug":"panache-ventures","name":"Panache Ventures","type":"VC","conviction":"generaliste","stages":["Pre-seed","Seed"],"sectors":["Generalist (no thesis)"],"ticket":{"min":500000,"max":1500000,"currency":"CAD","label":"$500k to $1.5M CAD"},"leadFollow":"Lead","province":["QC"],"hq":{"city":"Montreal","region":"QC"},"languages":["EN","FR"],"founded":2018,"fundSize":{"value":100,"currency":"CAD","vintage":2022},"activity":"Tres actif","lastDealDate":"2026-04-30","website":"https://panache.vc","linkedinURL":"https://www.linkedin.com/company/panache-ventures/","logo":"/assets/vc-logos/panache-ventures.png?v=4","logoBgColor":"#8B5CF6","thesis":{"en":"Canada's most active pre-seed venture capital firm, with offices in Montreal, Calgary and Toronto. Panache leads rounds with cheques of $500K to $1.5M CAD, backing ambitious Canadian founders across sectors with a marked tilt toward AI. Fund II closed at $100M CAD in 2022, deployed by a five-partner team covering the country end to end. The firm is a privileged entry point for first institutional rounds in Canada, with a rapid deployment cadence and high co-investment rate alongside US seed leads.","fr":"Le fonds canadien le plus actif en pré amorçage, présent à Montréal, Calgary et Toronto. Investit en lead avec des tickets de 500 K à 1,5 M$ CAD chez des fondateurs ambitieux, généralistes par sectoriel mais avec un biais marqué pour l'IA. Fonds II clôturé à 100 M$ CAD en 2022, équipe de cinq partenaires couvrant tout le pays. Une porte d'entrée privilégiée pour les premiers tours canadiens, avec un rythme de déploiement très soutenu et un fort taux de co investissement."},"tagline":{"en":"Canada's most active pre-seed VC","fr":"VC pré amorçage le plus actif au Canada"},"valueAdd":{"en":["High deal velocity","Pan-Canada coverage","Pre-seed playbook","Syndication network"],"fr":["Cadence d'investissement","Couverture pancanadienne","Playbook pré amorçage","Réseau de syndication"]},"followOnNarrative":{"en":"Panache writes follow-on checks selectively into Series A within Fund II reserves and frequently syndicates with larger Canadian and US seed funds.","fr":"Panache déploie des suivis sélectifs en Série A à partir des réserves du Fonds II et syndique fréquemment avec des fonds amorçage canadiens et américains plus larges."},"keyQuestions":{"en":["Given Panache's velocity, how much partner time does each portfolio company actually receive?","How does Panache support founders preparing a Series A with US lead investors?","What is the typical follow-on participation rate from Fund II?"],"fr":["Vu la cadence de Panache, combien de temps partenaire chaque société du portefeuille reçoit elle réellement?","Comment Panache aide t il les fondateurs à préparer une Série A menée par des investisseurs américains?","Quel est le taux typique de participation au suivi à partir du Fonds II?"]},"coInvestors":[{"name":"Real Ventures","slug":"real-ventures"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"Golden Ventures","slug":"golden-ventures"},{"name":"Y Combinator","slug":"y-combinator"}],"people":[{"fullName":"Patrick Lor","role":"Co-founder & Managing Partner","linkedinURL":"https://www.linkedin.com/in/patricklor/","initials":"PL","avatarBgColor":"#534AB7"},{"fullName":"Mike Cegelski","role":"Co-founder & Managing Partner","linkedinURL":"https://ca.linkedin.com/in/mike-cegelski","initials":"MC","avatarBgColor":"#1D9E75"},{"fullName":"David Dufresne","role":"General Partner","linkedinURL":"https://www.linkedin.com/in/daviddufresne/","initials":"DD","avatarBgColor":"#A32D2D"},{"fullName":"Prashant Matta","role":"Partner","linkedinURL":"https://www.linkedin.com/in/prashantmatta/","initials":"PM","avatarBgColor":"#712B13"},{"fullName":"Chris Neumann","role":"Partner","linkedinURL":"https://www.linkedin.com/in/cdneumann/","initials":"CN","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"Cybrid","sector":"Fintech / Insurtech","stage":"Series A","year":2025},{"name":"Featherless.ai","sector":"AI / ML","stage":"Series A","year":2026},{"name":"Class8","sector":"AI / ML","stage":"Series A","year":2024},{"name":"CarbonRun","sector":"Climate / Energy","stage":"Pre-seed","year":2024},{"name":"Spellbook","sector":"AI / ML","stage":"Seed","year":2022},{"name":"Fellow","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2020},{"name":"Routific","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2018}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.panache.vc/","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec12","slug":"mcrock-capital","name":"McRock Capital","type":"VC","conviction":"pure-play","stages":["Series A","Series B+"],"sectors":["AI / ML","Deeptech / Hardware","SaaS / Vertical SaaS"],"ticket":{"min":3000000,"max":15000000,"currency":"CAD","label":"$3M to $15M CAD"},"leadFollow":"Lead","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2012,"fundSize":{"value":120,"currency":"CAD","vintage":2024},"activity":"Selectif","lastDealDate":null,"website":"https://mcrockcapital.com","linkedinURL":"https://www.linkedin.com/company/mcrock-capital/","logo":"/assets/vc-logos/mcrock-capital.png?v=4","logoBgColor":"#C47A2F","thesis":{"en":"The first dedicated Digital Industrial venture capital fund manager, McRock invests at the intersection of data and software in large industrial markets and smart cities. Founded in 2012 by Whitney Rockley and Scott MacDonald, the firm targets companies digitizing legacy industries from manufacturing to energy. Fund III closed at over $120M CAD (2024-2025), bringing total AUM to approximately $300M CAD. With offices in Toronto and Calgary, McRock is built for founders selling into industrial buyers who need a partner with operational credibility and customer access.","fr":"Premier gestionnaire VC dédié au Digital Industrial, McRock investit à l'intersection des données et du logiciel dans les grands marchés industriels et les villes intelligentes. Fondé en 2012 par Whitney Rockley et Scott MacDonald. Le Fonds III a clôturé à plus de 120 M$ CA (2024-2025), portant l'AUM total à environ 300 M$ CA. Bureaux à Toronto et Calgary."},"tagline":{"en":"Industrial AI, data-first VC.","fr":"IA industrielle, VC orientee donnees."},"valueAdd":{"en":["Industrial AI specialist","IIoT customer network","Digital industrial expertise","Toronto-Calgary footprint","Strategic LP introductions"],"fr":["Spécialiste IA industrielle","Réseau clients IIoT","Expertise industriel numérique","Empreinte Toronto et Calgary","Intros LP stratégiques"]},"followOnNarrative":{"en":"McRock concentrates ownership in conviction bets and re-ups through Series B alongside strategic LPs like Caterpillar, Cisco and AspenTech. Industrial customer references and plant-level deployment data drive follow-on decisions.","fr":"McRock concentre la propriete sur ses paris de conviction et re-investit jusqu'en Serie B aux cotes de ses LPs strategiques comme Caterpillar, Cisco et AspenTech. Les references clients industriels et les donnees de deploiement en usine guident les decisions de suivi."},"keyQuestions":{"en":["Which large industrial customer has signed a multi-year contract, and what is their data integration story?","How do you defend against incumbent industrial software vendors who can bundle?","What is your path from pilot deployment to plant-wide and enterprise-wide rollout?"],"fr":["Quel grand client industriel a signé un contrat pluriannuel, et quelle est leur histoire d'intégration des données?","Comment vous défendez-vous contre les fournisseurs de logiciels industriels en place qui peuvent grouper les offres?","Quel est votre chemin du déploiement pilote au déploiement à l'échelle de l'usine et de l'entreprise?"]},"coInvestors":[{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Caterpillar Venture Capital","slug":"caterpillar-venture-capital"},{"name":"Cisco Investments","slug":"cisco-investments"},{"name":"EDC","slug":"edc"},{"name":"Alberta Enterprise Corporation","slug":"alberta-enterprise-corporation"},{"name":"Fonds de solidarite FTQ","slug":"fonds-de-solidarite-ftq"},{"name":"Aspen Technology","slug":"aspen-technology"},{"name":"Bell Ventures","slug":"bell-ventures"},{"name":"CIBC Innovation Banking","slug":"cibc-innovation-banking"}],"people":[{"fullName":"Scott MacDonald","role":"Co-Founder, Managing Partner","linkedinURL":"https://www.linkedin.com/in/scott-macdonald-mcrock/","initials":"SM","avatarBgColor":"#534AB7"},{"fullName":"Whitney Rockley","role":"Co-Founder, Managing Partner","linkedinURL":"https://www.linkedin.com/in/whitneyrockley/","initials":"WR","avatarBgColor":"#1D9E75"},{"fullName":"Ha Nguyen","role":"Partner","linkedinURL":"https://www.linkedin.com/in/hadnguyen/","initials":"HN","avatarBgColor":"#A32D2D"},{"fullName":"Udit Bhatnagar","role":"Partner","linkedinURL":"","initials":"UB","avatarBgColor":"#712B13"}],"portfolio":[{"name":"Prevu3D","sector":"AI / ML","stage":"Series A","year":2024},{"name":"Samdesk","sector":"AI / ML","stage":"Series B","year":2022},{"name":"Landing AI","sector":"AI / ML","stage":"Series A","year":2021},{"name":"Triax Technologies","sector":"Deeptech / Hardware","stage":"Series A","year":2024},{"name":"Poka","sector":"SaaS / Vertical SaaS","stage":"Series B","year":2023},{"name":"ThoughtTrace","sector":"AI / ML","stage":"Series B","year":2022},{"name":"mnubo","sector":"Deeptech / Hardware","stage":"Series A","year":2019}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://mcrockcapital.com/team/","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec13","slug":"golden-ventures","name":"Golden Ventures","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed","Series A"],"sectors":["Generalist (no thesis)"],"ticket":{"min":700000,"max":1700000,"currency":"CAD","label":"$700K-$1.7M (USD $500K-$1.2M)"},"leadFollow":"Lead","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2011,"fundSize":{"value":139,"currency":"CAD","vintage":2024},"activity":"Tres actif","lastDealDate":"2026-04-01","website":"https://golden.ventures/","linkedinURL":"https://www.linkedin.com/company/golden-ventures","logo":"/assets/vc-logos/golden-ventures.png?v=4","logoBgColor":"#F97316","thesis":{"en":"A Canadian seed reference since 2011, Toronto-based Golden Ventures was founded by Matt Golden. The firm leads roughly 30 core portfolio investments per fund, writing initial cheques of $700K to $1.7M CAD (US$500K to $1.2M) with strong follow-on reserves. Fund V closed at approximately $139M CAD in 2024 to keep backing seed-stage Canadian and US founders. Generalist thesis, tight team and high conviction on founder quality. Golden has a long track record of leading first institutional rounds and supporting founders through Series A and beyond.","fr":"Référence en amorçage canadien depuis 2011, basée à Toronto et fondée par Matt Golden. Investit en lead dans environ 30 sociétés cœur de portefeuille par fonds, avec des tickets initiaux de 700 K à 1,7 M$ CAD (500 K à 1,2 M USD) et de fortes réserves de suivi. Fonds V clôturé à ~139 M$ CAD en 2024 pour continuer à soutenir des fondateurs canadiens et américains au stade amorçage. Approche généraliste, équipe resserrée, conviction forte sur la qualité des fondateurs."},"tagline":{"en":"Canada's high-conviction seed lead","fr":"Lead amorçage à haute conviction au Canada"},"valueAdd":{"en":["Seed lead conviction","Founder community","Cross-border reach","Strong reserves"],"fr":["Conviction lead amorçage","Communauté fondateurs","Portée transfrontalière","Réserves solides"]},"followOnNarrative":{"en":"Fund V's $139M sizing is built around concentrated initial checks plus material follow-on reserves into Series A and B for portfolio winners.","fr":"Le Fonds V de 139 M$ est calibré autour de tickets initiaux concentrés et de réserves significatives pour suivre les meilleures sociétés en Série A et B."},"keyQuestions":{"en":["What is the Fund V portfolio construction (number of core companies, average ownership target)?","How does Golden support seed founders preparing for a US-led Series A?","What is the firm's approach to reserves and pro-rata across follow-on rounds?"],"fr":["Quelle est la construction du Fonds V (nombre de sociétés cœur, cible de détention moyenne)?","Comment Golden accompagne t il les fondateurs amorçage qui préparent une Série A menée aux États Unis?","Quelle est l'approche du fonds en matière de réserves et de pro rata sur les tours suivants?"]},"coInvestors":[{"name":"Real Ventures","slug":"real-ventures"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"Y Combinator","slug":"y-combinator"},{"name":"Bessemer Venture Partners","slug":"bessemer-venture-partners"}],"people":[{"fullName":"Matt Golden","role":"Founder & Managing Partner","linkedinURL":"https://www.linkedin.com/in/magolden/","initials":"MG","avatarBgColor":"#534AB7"},{"fullName":"Jamie Rosenblatt","role":"Partner","linkedinURL":"https://www.linkedin.com/in/jamierosenblatt/","initials":"JR","avatarBgColor":"#1D9E75"},{"fullName":"Ameet Shah","role":"Partner","linkedinURL":"https://www.linkedin.com/in/ameetshah/","initials":"AS","avatarBgColor":"#A32D2D"},{"fullName":"Bert Amato","role":"Venture Partner","linkedinURL":"https://www.linkedin.com/in/bertamato/","initials":"BA","avatarBgColor":"#712B13"},{"fullName":"Nick Chen","role":"Partner","linkedinURL":"https://www.linkedin.com/in/nicolasnchen/","initials":"NC","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"Wealthsimple","sector":"Fintech / Insurtech","stage":"Seed","year":2014},{"name":"Nudge.ai","sector":"AI / ML","stage":"Seed","year":2014},{"name":"Properly","sector":"Marketplace / Consumer","stage":"Seed","year":2018},{"name":"Top Hat","sector":"Vertical SaaS","stage":"Series A","year":2013},{"name":"Ada","sector":"AI / ML","stage":"Seed","year":2017}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://betakit.com/golden-ventures-closes-nearly-140-million-cad-for-fifth-seed-stage-vc-fund/","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec14","slug":"nadarra-ventures","name":"Nàdarra Ventures","type":"VC","conviction":"pure-play","stages":["Seed","Series A"],"sectors":["Healthtech / Biotech","Climate / Energy","Deeptech / Hardware"],"ticket":{"min":1000000,"max":3000000,"currency":"CAD","label":"$1M-$3M"},"leadFollow":"Lead","province":["QC","ON","BC","AB"],"hq":{"city":"Halifax","region":"NS"},"languages":["EN"],"founded":2023,"fundSize":{"value":30,"currency":"CAD","vintage":2024},"activity":"Actif","lastDealDate":"2026-04-28","website":"https://www.nadarraventures.ca/","linkedinURL":"https://www.linkedin.com/company/nadarraventures/","logo":"/assets/vc-logos/nadarra-ventures.png?v=4","logoBgColor":"#EF4444","thesis":{"en":"Halifax-based seed and Series A fund focused on sustainable biotech (food, agriculture, materials). Nadarra reached a first close of $20M on a $50M target, anchored by Farm Credit Canada and NPC. The firm led Opalia's $3.2M seed round in April 2026 and has emerged as one of Atlantic Canada's most active early-stage investors. The team backs founders building biology-driven solutions to industrial problems, with a strong East Coast anchor and a willingness to lead first institutional cheques.","fr":"Fonds halifaxien seed et Série A axé sur la biotech durable (alimentation, agriculture, matériaux). Nàdarra a réalisé un premier closing à 20 M$ sur un objectif de 50 M$, soutenu par Financement agricole Canada et NPC. A mené le tour seed de 3,2 M$ d'Opalia en avril 2026. Émergent très actif avec un ancrage atlantique fort."},"tagline":{"en":"Atlantic biotech, sustainably built.","fr":"Biotech atlantique, batie durablement."},"valueAdd":{"en":["Sustainable biotech focus","Atlantic ecosystem","FCC and NPC anchors","Food and ag depth","First institutional check"],"fr":["Focus biotech durable","Écosystème atlantique","Ancrages FAC et NPC","Expertise alimentation et agriculture","Premier chèque institutionnel"]},"followOnNarrative":{"en":"Nadarra reserves capital for selective Series A follow-on and co-invests alongside FCC, NPC, Concrete and Build on Atlantic deals. Pilot validation and unit economic milestones drive the pro-rata decision.","fr":"Nadarra reserve du capital pour un suivi selectif en Serie A et co-investit aux cotes de FAC, NPC, Concrete et Build sur les deals atlantiques. La decision de pro rata depend de la validation des pilotes et des jalons d'economie unitaire."},"keyQuestions":{"en":["How does your science move toward a viable unit economic at scale?","What pilot or co-development partners de-risk your go-to-market?","How will you leverage Halifax and Atlantic Canada talent and infrastructure?"],"fr":["Comment votre science progresse-t-elle vers une économie unitaire viable à l'échelle?","Quels partenaires pilotes ou de co-développement réduisent le risque de votre mise en marché?","Comment tirerez-vous parti du talent et de l'infrastructure de Halifax et du Canada atlantique?"]},"coInvestors":[{"name":"Farm Credit Canada","slug":"farm-credit-canada"},{"name":"Natural Products Canada","slug":"natural-products-canada"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Concrete Ventures","slug":"concrete-ventures"},{"name":"Killick Capital","slug":"killick-capital"},{"name":"Build Ventures","slug":"build-ventures"}],"people":[{"fullName":"Malcolm Fraser","role":"General Partner","linkedinURL":"https://www.linkedin.com/in/callumfriseal/","initials":"MF","avatarBgColor":"#534AB7"},{"fullName":"Mary Dimou","role":"General Partner","linkedinURL":"https://www.linkedin.com/in/marydimou/","initials":"MD","avatarBgColor":"#1D9E75"},{"fullName":"Richard de Palmas","role":"Venture Partner","linkedinURL":"","initials":"RD","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Opalia","sector":"Healthtech / Biotech","stage":"Seed","year":2026},{"name":"AuX Labs","sector":"Healthtech / Biotech","stage":"Seed","year":2024},{"name":"Naak","sector":"Marketplace / Consumer","stage":"Seed","year":2024},{"name":"Dispersa","sector":"Climate / Energy","stage":"Seed","year":2025}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.nadarraventures.ca/our-portfolio","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec15","slug":"lumira-ventures","name":"Lumira Ventures","type":"VC","conviction":"pure-play","stages":["Series A","Series B+"],"sectors":["Healthtech / Biotech"],"ticket":{"min":5000000,"max":25000000,"currency":"CAD","label":"$5M to $25M CAD"},"leadFollow":"Lead","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2007,"fundSize":{"value":275,"currency":"CAD","vintage":2026},"activity":"Actif","lastDealDate":"2026-04-20","website":"https://lumiraventures.com","linkedinURL":"https://www.linkedin.com/company/lumiraventures/","logo":"/assets/vc-logos/lumira-ventures.png?v=4","logoBgColor":"#C47A2F","thesis":{"en":"Lumira Ventures is Canada's largest life sciences venture firm, with a thesis-driven approach centered on biotech and medtech with strong clinical impact. The team invests at Series A and B+ in North American and global companies developing differentiated therapies, medical devices and diagnostic platforms. With offices in Toronto, Montreal, Vancouver and Boston, Lumira combines scientific expertise, pharma networks and access to US capital. Fund V (first close April 2026, target $275M CAD) extends an 18+ year track record post-MBO from MDS Capital (2007). Cheques of $5M to $25M CAD with a lead posture and long-term support through IPO or strategic acquisition.","fr":"Lumira Ventures est le plus important fonds canadien en sciences de la vie, avec une approche thématique centrée sur la biotechnologie et la medtech à fort impact clinique. L'équipe investit en Série A et B+ dans des entreprises nord-américaines et globales développant des thérapies, dispositifs médicaux et plateformes diagnostiques différenciées. Avec des bureaux à Toronto, Montréal, Vancouver et Boston, Lumira combine expertise scientifique, réseau pharma et accès aux capitaux US. Le Fonds V (premier closing en avril 2026, cible 275 M$ CA) prolonge un track record de plus de 18 ans (post MBO de MDS Capital, 2007). Tickets de 5 à 25 M$ CA, posture lead avec accompagnement long terme jusqu'à l'IPO ou l'acquisition stratégique."},"tagline":{"en":"Canada's largest life sciences VC, A-to-IPO partner","fr":"Plus grand VC sciences de la vie au Canada"},"valueAdd":{"en":["Pharma BD network","Clinical strategy","FDA / Health Canada regulatory","Cross-border syndication","IPO readiness"],"fr":["Réseau pharma BD","Stratégie clinique","Affaires réglementaires FDA et Santé Canada","Syndication transfrontalière","Préparation IPO"]},"followOnNarrative":{"en":"Lumira typically reserves 2-3x the initial cheque for follow-on rounds and leads bridge or extension financings when clinical milestones are hit. Strong syndication muscle into US crossover funds for pre-IPO rounds.","fr":"Lumira réserve généralement 2 à 3 fois la mise initiale pour les tours subséquents et co-pilote les bridges lorsque les jalons cliniques sont atteints. Forte capacité de syndication vers les fonds crossover américains pour les tours pré IPO."},"keyQuestions":{"en":["Is your therapeutic or device backed by validated clinical or preclinical data with a clear regulatory path?","Are you targeting a US or global commercial market large enough for a $5-25M lead cheque?","Are you ready to operate with pharma-grade governance and a multi-year capital plan to IND or pivotal trials?"],"fr":["Votre thérapie ou dispositif repose-t-il sur des données cliniques ou précliniques validées avec un chemin réglementaire clair ?","Visez-vous un marché commercial américain ou mondial assez large pour un ticket lead de 5 à 25 M$ ?","Êtes-vous prêts à opérer avec une gouvernance de calibre pharma et un plan de capital pluriannuel jusqu'à l'IND ou aux essais pivots ?"]},"coInvestors":[{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Versant Ventures","slug":"versant-ventures"},{"name":"OrbiMed","slug":"orbimed"},{"name":"Investissement Quebec","slug":"investissement-quebec"},{"name":"Novo Holdings","slug":"novo-holdings"}],"people":[{"fullName":"Peter van der Velden","role":"Managing General Partner","linkedinURL":"https://www.linkedin.com/in/petervandervelden/","initials":"PV","avatarBgColor":"#534AB7"},{"fullName":"Beni Rovinski","role":"Managing Director","linkedinURL":"https://ca.linkedin.com/in/benjamin-rovinski-3435a8a","initials":"BR","avatarBgColor":"#1D9E75"},{"fullName":"Jacki Jenuth","role":"Partner","linkedinURL":"https://www.linkedin.com/in/jacki-jenuth-51b9401/","initials":"JJ","avatarBgColor":"#A32D2D"},{"fullName":"Gerry Brunk","role":"Managing Director","linkedinURL":"https://www.linkedin.com/in/gerrybrunk/","initials":"GB","avatarBgColor":"#712B13"}],"portfolio":[{"name":"Congruence Therapeutics","sector":"Healthtech / Biotech","stage":"Bridge","year":2026},{"name":"Endogenex","sector":"Healthtech / Biotech","stage":"Bridge","year":2026},{"name":"Exact Imaging","sector":"Healthtech / Biotech","stage":"Growth","year":2026},{"name":"Nocion Therapeutics","sector":"Healthtech / Biotech","stage":"Bridge","year":2026},{"name":"Puzzle Medical","sector":"Healthtech / Biotech","stage":"Series B","year":2025},{"name":"Alpha-9 Oncology","sector":"Healthtech / Biotech","stage":"Series C","year":2024},{"name":"Kisoji Biotechnology","sector":"Healthtech / Biotech","stage":"Series A","year":2024}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.lumiraventures.com/news/","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec16","slug":"build-ventures","name":"Build Ventures","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed","Series A"],"sectors":["SaaS / Vertical SaaS","AI / ML","Healthtech / Biotech"],"ticket":{"min":1000000,"max":5000000,"currency":"CAD","label":"$1M to $5M CAD"},"leadFollow":"Both","province":["NS","NB","NL","PE"],"hq":{"city":"Halifax","region":"NS"},"languages":["EN"],"founded":2013,"fundSize":{"value":65,"currency":"CAD","vintage":2019},"activity":"Actif","lastDealDate":"2026-01-13","website":"https://www.buildventures.ca/","linkedinURL":"https://ca.linkedin.com/company/build-ventures","logo":"/assets/vc-logos/build-ventures.png?v=4","logoBgColor":"#2F6FEB","thesis":{"en":"Build Ventures is the Atlantic region's largest early-stage venture fund, headquartered in Halifax and investing across Nova Scotia, New Brunswick, Prince Edward Island and Newfoundland & Labrador. Launched in 2013 (Fund I) with Fund II closed in September 2019 at $50.5M, the firm manages roughly $65M across two funds. Tickets $1M to $5M CAD into seed and Series A, often lead. Notable portfolio includes ProcedureFlow, Dash Social, TrojAI, Paytic, Musical AI.","fr":"Build Ventures est le plus gros fonds early-stage de l'Atlantique, basé à Halifax et investissant en Nouvelle-Écosse, au Nouveau-Brunswick, à l'Île-du-Prince-Édouard et à Terre-Neuve-et-Labrador. Lancé en 2013 (Fonds I) et Fonds II clos en septembre 2019 à 50,5 M$, la firme gère environ 65 M$ sur deux fonds. Tickets 1 à 5 M$ CAD en seed et Série A, souvent en lead. Portfolio incluant ProcedureFlow, Dash Social, TrojAI, Paytic, Musical AI."},"tagline":{"en":"Atlantic Canada's largest early-stage tech fund.","fr":"Le plus gros fonds tech early-stage de l'Atlantique."},"valueAdd":{"en":["Atlantic Canada ecosystem depth","Provincial government LP relationships","BDC follow-on coordination","Region's largest local fund","Multi-province deal flow"],"fr":["Profondeur écosystème Atlantique","Relations LP gouvernements provinciaux","Coordination follow-on BDC","Plus gros fonds local de la région","Deal flow multi-provincial"]},"followOnNarrative":{"en":"Across two funds totaling $65M, Build holds reserves for follow-ons into seed and Series A winners and coordinates downstream rounds with BDC Capital, Innovacorp, NBIF and Concrete Ventures. Founders are expected to graduate to a national or US-led Series A within 24 months.","fr":"Sur deux fonds totalisant 65 M$, Build conserve des reserves pour les suivis seed et Serie A et coordonne les rondes aval avec BDC Capital, Innovacorp, NBIF et Concrete Ventures. Les fondateurs sont attendus pour passer a une Serie A nationale ou americaine en 24 mois."},"keyQuestions":{"en":["Why is the Atlantic region your founding geography, and how do you scale beyond it?","Which Atlantic anchor customer or talent pool gives you an unfair start?","How will you graduate to a national or US Series A within 24 months?"],"fr":["Pourquoi l'Atlantique est-il votre géographie de départ, et comment dépasserez-vous cette région?","Quel client ancre ou bassin de talents atlantique vous donne une longueur d'avance?","Comment passerez-vous à une Série A nationale ou américaine en 24 mois?"]},"coInvestors":[{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Innovacorp","slug":"innovacorp"},{"name":"NBIF","slug":"nbif"},{"name":"Concrete Ventures","slug":"concrete-ventures"}],"people":[{"fullName":"Rob Barbara","role":"General Partner","linkedinURL":"https://www.linkedin.com/in/rob-barbara-2ba1b832/","initials":"RB","avatarBgColor":"#534AB7"},{"fullName":"Patrick Keefe","role":"General Partner","linkedinURL":"https://www.linkedin.com/in/patrick-keefe-8a175/","initials":"PK","avatarBgColor":"#1D9E75"}],"portfolio":[{"name":"Musical AI","sector":"AI / ML","stage":"Seed","year":2026},{"name":"TrojAI","sector":"Cybersecurity","stage":"Seed","year":2024},{"name":"Paytic","sector":"Fintech / Insurtech","stage":"Seed","year":2025},{"name":"3D Bio-Fibr","sector":"Deeptech / Hardware","stage":"Seed","year":2025},{"name":"ProcedureFlow","sector":"SaaS / Vertical SaaS","stage":"Series A","year":null},{"name":"Dash Social","sector":"SaaS / Vertical SaaS","stage":"Series A","year":null}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.buildventures.ca/investments","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec17","slug":"chrysalix-venture-capital","name":"Chrysalix Venture Capital","type":"VC","conviction":"pure-play","stages":["Seed","Series A","Series B+"],"sectors":["Climate / Energy"],"ticket":{"min":1000000,"max":5000000,"currency":"CAD","label":"$1M-$5M"},"leadFollow":"Lead","province":["QC","ON","BC","AB"],"hq":{"city":"Vancouver","region":"BC"},"languages":["EN"],"founded":2001,"fundSize":{"value":120,"currency":"CAD","vintage":2018},"activity":"Selectif","lastDealDate":"2025-12-02","website":"https://www.chrysalix.com/","linkedinURL":"https://www.linkedin.com/company/chrysalix-energy-venture-capital","logo":"/assets/vc-logos/chrysalix-venture-capital.png?v=4","logoBgColor":"#712B13","thesis":{"en":"Vancouver-based pure-play cleantech investor focused on industrial decarbonization and resource innovation. Chrysalix manages approximately $120M in AUM, with over $315M raised across multiple funds including the RoboValley vehicle. The firm targets companies addressing the heavy industrial sectors that mainstream cleantech often avoids: mining, materials, heavy industry and resource processing. Co-founder Wal van Lierop has transitioned to a part-time role. Long-term conviction on industrial transition makes Chrysalix a natural partner for hardware-heavy founders.","fr":"Pure-play cleantech vancouvérois focalisé sur la décarbonation industrielle et l'innovation dans les ressources. Chrysalix gère environ 120 M$ d'AUM, avec plus de 315 M$ levés à travers plusieurs fonds, dont RoboValley. Le co-fondateur Wal van Lierop est passé à un rôle à temps partiel. Convictions de long terme sur la transition industrielle."},"tagline":{"en":"Industrial decarb, resource innovation.","fr":"Decarbonation industrielle, innovation ressources."},"valueAdd":{"en":["Industrial decarb expertise","Resource innovation depth","Cleantech veteran","Long-cycle conviction","Robotics network"],"fr":["Expertise décarbonation industrielle","Savoir-faire ressources","Vétéran cleantech","Conviction long cycle","Réseau robotique"]},"followOnNarrative":{"en":"Chrysalix reserves meaningfully for Series B and beyond and routinely syndicates growth rounds with Temasek, JP Morgan, Prelude Ventures, Evok Innovations and Cycle Capital. Founders should plan for multi-year pilot to commercial deployment cycles before the next institutional lead steps in.","fr":"Chrysalix reserve significativement pour les Series B et au-dela et syndique regulierement les rondes de croissance avec Temasek, JP Morgan, Prelude Ventures, Evok Innovations et Cycle Capital. Les fondateurs doivent prevoir des cycles pluriannuels du pilote au deploiement commercial avant qu'un nouveau lead institutionnel prenne le relais."},"keyQuestions":{"en":["What heavy-industry customer is willing to pilot your technology and pay?","How do you bridge from pilot to first commercial deployment?","What does your capex versus opex business model look like at scale?"],"fr":["Quel client industriel lourd est prêt à piloter votre technologie et à payer?","Comment passez-vous du pilote au premier déploiement commercial?","À quoi ressemble votre modèle d'affaires capex versus opex à l'échelle?"]},"coInvestors":[{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Cycle Capital","slug":"cycle-capital"},{"name":"Evok Innovations","slug":"evok-innovations"},{"name":"Prelude Ventures","slug":"prelude-ventures"},{"name":"JP Morgan","slug":"jp-morgan"},{"name":"Temasek","slug":"temasek"}],"people":[{"fullName":"Fred van Beuningen","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/fredvanbeuningen/","initials":"FV","avatarBgColor":"#534AB7"},{"fullName":"Charles Haythornthwaite","role":"Senior Partner","linkedinURL":"https://www.linkedin.com/in/charles-haythornthwaite/","initials":"CH","avatarBgColor":"#1D9E75"},{"fullName":"Alfred Lam","role":"Partner","linkedinURL":"","initials":"AL","avatarBgColor":"#A32D2D"},{"fullName":"Greg Allen","role":"Partner","linkedinURL":"","initials":"GA","avatarBgColor":"#712B13"}],"portfolio":[{"name":"Rithmik Solutions","sector":"AI / ML","stage":"Series A","year":2025},{"name":"VerAI Discoveries","sector":"Climate / Energy","stage":"Series B","year":2025},{"name":"Deadwood Innovations","sector":"Climate / Energy","stage":"Growth","year":2025},{"name":"Liminal Insights","sector":"Climate / Energy","stage":"Series A","year":2023},{"name":"Haila Technologies","sector":"Climate / Energy","stage":"Series A","year":2023},{"name":"Svante","sector":"Climate / Energy","stage":"Series E","year":2022}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.chrysalix.com/team","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec18","slug":"pender-ventures","name":"Pender Ventures","type":"VC","conviction":"tech-actif","stages":["Seed","Series A","Series B+"],"sectors":["AI / ML","Cybersecurity","Fintech / Insurtech","Healthtech / Biotech","Devtools / Infra","Deeptech / Hardware","Marketplace / Consumer","SaaS / Vertical SaaS"],"ticket":{"min":2000000,"max":5000000,"currency":"CAD","label":"$2M to $5M CAD"},"leadFollow":"Lead","province":["BC"],"hq":{"city":"Vancouver","region":"BC"},"languages":["EN"],"founded":2018,"fundSize":{"value":100,"currency":"CAD","vintage":2024},"activity":"Actif","lastDealDate":"2026-04-09","website":"https://penderventures.com","linkedinURL":"https://www.linkedin.com/company/pender-ventures/","logo":"/assets/vc-logos/pender-ventures.png?v=4","logoBgColor":"#A32D2D","thesis":{"en":"Vancouver-based fund investing in healthtech and B2B technology companies at the inflection point to scale. Pender backs strong leadership teams with differentiated products attacking large markets, with a concentrated portfolio of 12 to 14 companies per fund for high-conviction support. Fund II (Technology Inflection Fund II) closed at over $100M CAD in November 2024. The team works closely with founders on operational discipline, GTM acceleration and Series B+ fundraising. A focused partner for capital-efficient founders who have validated product-market fit and need a Canadian growth lead.","fr":"Fonds vancouvérois investissant dans des entreprises healthtech et technologie B2B au point d'inflexion vers la mise à l'échelle. Pender mise sur des équipes solides, des produits différenciés et des marchés ample. Le Fonds II (Technology Inflection Fund II) a clôturé à plus de 100 M$ CA en novembre 2024. Portefeuille cible de 12 à 14 sociétés pour une concentration assumée."},"tagline":{"en":"Inflection-stage B2B and healthtech.","fr":"Inflection-stage en B2B et healthtech."},"valueAdd":{"en":["Inflection-stage discipline","Concentrated portfolio attention","B2B and healthtech depth","BC-anchored network","Public markets adjacency"],"fr":["Discipline stade d'inflexion","Attention portefeuille concentré","Expertise B2B et healthtech","Réseau ancré en Colombie-Britannique","Adjacence marchés publics"]},"followOnNarrative":{"en":"Pender reserves substantial follow-on capacity per company given its concentrated portfolio of 12 to 14 names, and supports founders into Series B+ rounds alongside US growth leads. Follow-on conviction tracks ARR growth and progress toward Rule of 40.","fr":"Pender reserve une capacite de suivi importante par entreprise, vu son portefeuille concentre de 12 a 14 noms, et accompagne les fondateurs en Serie B+ aux cotes de leads growth americains. La conviction de suivi suit la croissance ARR et la progression vers la Rule of 40."},"keyQuestions":{"en":["What inflection point are you at, and what specifically does our capital unlock in the next 12 months?","Show us your top 10 customer logos, ARR per logo, and renewal status.","What is your roadmap to Rule of 40 and at what revenue level?"],"fr":["À quel point d'inflexion êtes-vous, et qu'est-ce que notre capital débloque précisément dans les 12 prochains mois?","Montrez-nous vos 10 plus gros logos clients, l'ARR par logo et le statut de renouvellement.","Quelle est votre feuille de route vers la Rule of 40 et à quel niveau de revenus?"]},"coInvestors":[{"name":"BMO Capital Partners","slug":"bmo-capital-partners"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"EDC","slug":"edc"},{"name":"InBC","slug":"inbc"},{"name":"Alberta Enterprise Corporation","slug":"alberta-enterprise-corporation"},{"name":"Garage Capital","slug":"garage-capital"},{"name":"BrightSpark Ventures","slug":"brightspark-ventures"},{"name":"Amplitude Ventures","slug":"amplitude-ventures"},{"name":"Diagram Ventures","slug":"diagram-ventures"}],"people":[{"fullName":"Maria Pacella","role":"Managing Partner","linkedinURL":"https://ca.linkedin.com/in/maria-pacella","initials":"MP","avatarBgColor":"#534AB7"},{"fullName":"Isaac Souweine","role":"Partner","linkedinURL":"https://ca.linkedin.com/in/souweine","initials":"IS","avatarBgColor":"#1D9E75"},{"fullName":"Kenndal McArdle","role":"Principal","linkedinURL":"https://ca.linkedin.com/in/kenndalmcardle","initials":"KM","avatarBgColor":"#A32D2D"},{"fullName":"Meryeme Lahmami","role":"Associate","linkedinURL":"","initials":"ML","avatarBgColor":"#712B13"}],"portfolio":[{"name":"Engineered Intelligence","sector":"Deeptech / Hardware","stage":"Series A","year":2026},{"name":"Veritree","sector":"Climate / Energy","stage":"Series A","year":2025},{"name":"Catio","sector":"Devtools / Infra","stage":"Seed","year":2025},{"name":"Science & Humans","sector":"Healthtech / Biotech","stage":"Series A","year":2024},{"name":"Jane App","sector":"Healthtech / Biotech","stage":"Growth","year":null},{"name":"Traction Complete","sector":"SaaS / Vertical SaaS","stage":"Series A","year":2023},{"name":"Traction Rec","sector":"SaaS / Vertical SaaS","stage":"Series A","year":2023},{"name":"DrugBank","sector":"Healthtech / Biotech","stage":"Growth","year":null}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.penderventures.com/portfolio/","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec19","slug":"fonds-deconomie-circulaire-fec","name":"Fonds d’économie circulaire (FEC)","type":"VC","conviction":"pure-play","stages":["Pre-seed","Seed"],"sectors":["Climate / Energy"],"ticket":{"min":250000,"max":2000000,"currency":"CAD","label":"$250k to $2M CAD"},"leadFollow":"Both","province":["QC"],"hq":{"city":"Montréal","region":"QC"},"languages":["FR","EN"],"founded":2021,"fundSize":{"value":30,"currency":"CAD","vintage":2021},"activity":"Actif","lastDealDate":null,"website":"https://www.fondaction.com/entreprise/fonds-economie-circulaire/","linkedinURL":"https://www.linkedin.com/company/fondaction/","logo":"/assets/vc-logos/fonds-deconomie-circulaire-fec.png?v=4","logoBgColor":"#C47A2F","thesis":{"en":"The Fonds d'economie circulaire is a $30M Quebec fund managed by Fondaction, with RECYC-QUEBEC and the City of Montreal as partners. It invests direct equity and quasi-equity in early-stage circular-economy startups (recycling, eco-construction, agri-food), backing companies that close material loops.","fr":"Le Fonds d'economie circulaire est un fonds quebecois de 30 M$ gere par Fondaction, avec RECYC-QUEBEC et la Ville de Montreal comme partenaires. Il investit en equity et quasi-equity directe dans des startups en demarrage de l'economie circulaire (recyclage, ecoconstruction, agroalimentaire), en soutenant les entreprises qui bouclent les boucles de matieres."},"tagline":{"en":"Direct equity for Quebec's circular economy.","fr":"Du capital direct pour l'economie circulaire quebecoise."},"valueAdd":{"en":["Circular-economy specialization","RECYC-QUEBEC partnership","Public and municipal network","Patient impact capital","Quebec ecosystem access"],"fr":["Specialisation economie circulaire","Partenariat RECYC-QUEBEC","Reseau public et municipal","Capital d'impact patient","Acces a l'ecosysteme quebecois"]},"followOnNarrative":{"en":"The Fonds d'economie circulaire follows its portfolio with quasi-equity and connects companies to Fondaction's wider capital pools and public partners for later rounds. Follow-on depends on measurable circular-economy outcomes alongside commercial traction.","fr":"Le Fonds d'economie circulaire suit son portefeuille en quasi-equity et connecte les entreprises aux autres enveloppes de capital de Fondaction et a ses partenaires publics pour les tours ulterieurs. Le suivi depend de resultats d'economie circulaire mesurables, en plus de la traction commerciale."},"keyQuestions":{"en":["Which material loop does your business close, and how do you quantify the diversion or reuse?","Is your model economically viable without relying on public subsidy?","How do you scale a circular operation beyond the Quebec market?"],"fr":["Quelle boucle de matieres votre entreprise referme-t-elle, et comment quantifiez-vous le detournement ou le reemploi?","Votre modele est-il viable economiquement sans dependre de la subvention publique?","Comment passez-vous a l'echelle une operation circulaire au-dela du marche quebecois?"]},"coInvestors":[],"people":[],"portfolio":[{"name":"CarbiCrete","sector":"Climate / Energy","stage":"","year":null},{"name":"Brique Recyc","sector":"Climate / Energy","stage":"","year":null},{"name":"Groupe Onym","sector":"Climate / Energy","stage":"","year":null},{"name":"Still Good","sector":"Climate / Energy","stage":"","year":null}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.fondaction.com/entreprise/fonds-economie-circulaire/","lastVerifiedAt":"2026-05-20","editorialLevel":"Long tail (FR only)"},{"id":"rec20","slug":"bkr-capital","name":"BKR Capital","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed","Series A"],"sectors":["Generalist (no thesis)"],"ticket":{"min":250000,"max":1500000,"currency":"CAD","label":"$250k to $1.5M CAD"},"leadFollow":"Both","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2021,"fundSize":{"value":22,"currency":"CAD","vintage":2026},"activity":"Selectif","lastDealDate":"2025-09-23","website":"https://bkrcapital.ca","linkedinURL":"https://www.linkedin.com/company/bkr-capital/","logo":"/assets/vc-logos/bkr-capital.png?v=4","logoBgColor":"#534AB7","thesis":{"en":"Canada's first institutional VC fund dedicated to Black-led technology founders. BKR makes early and transformational investments at pre-seed and seed across the country, with a mandate-driven thesis rather than a sector-specific one. The team plays a transformational role in unlocking structural capital for historically underfunded entrepreneurs. Fund II opened in 2026 targeting $50M to expand reach and follow-on capacity. BKR backs ambitious technical founders who have been overlooked by traditional capital and pairs cheques with deep network and operational support.","fr":"Premier fonds VC institutionnel canadien dédié aux fondateurs noirs en technologie. BKR investit en pre-seed et seed à travers le pays, avec une thèse mandatée plus que sectorielle. L'équipe joue un rôle transformateur en débloquant le capital structurel pour des entrepreneurs sous-financés. Le Fonds II, ouvert en 2026, vise 50 M$ pour amplifier la portée."},"tagline":{"en":"Canada's first Black-led institutional VC.","fr":"Le premier VC institutionnel noir au Canada."},"valueAdd":{"en":["Black founder community","Capital access unlock","Mandate-driven LP base","Pan-Canadian reach","Structural barrier navigation"],"fr":["Communauté fondateurs noirs","Accès au capital débloqué","Base LP mandatée","Portée pancanadienne","Navigation des barrières structurelles"]},"followOnNarrative":{"en":"Fund II opened in 2026 with a $50M target to expand follow-on capacity into Series A. BKR typically reserves for first follow-ons and syndicates downstream rounds with Relay Ventures, BDC Capital and US tier-1 partners.","fr":"Le Fonds II ouvert en 2026 vise 50 M$ pour augmenter la capacite de suivi jusqu'en Serie A. BKR reserve generalement pour les premiers follow-on et syndique les rondes aval avec Relay Ventures, BDC Capital et des partenaires americains tier-1."},"keyQuestions":{"en":["What gaps in your network or capital stack has being a Black founder created, and how do we help close them?","Which downstream Canadian and US funds do you want us to warm-intro for your next round?","What does your founder support system look like beyond capital?"],"fr":["Quels manques dans votre réseau ou votre capital stack le fait d'être un fondateur noir a créés, et comment vous aider à les combler?","Quels fonds canadiens et américains aval voulez-vous que nous introduisions à chaud pour votre prochain tour?","À quoi ressemble votre système de soutien fondateur au-delà du capital?"]},"coInvestors":[{"name":"Relay Ventures","slug":"relay-ventures"},{"name":"Northpine Foundation","slug":"northpine-foundation"},{"name":"Export Development Canada","slug":"export-development-canada"},{"name":"BDC Capital","slug":"bdc-capital"}],"people":[{"fullName":"Lise Birikundavyi","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/lisebirikundavyi/","initials":"LB","avatarBgColor":"#534AB7"},{"fullName":"Isaac Olowolafe","role":"Partner","linkedinURL":"","initials":"IO","avatarBgColor":"#1D9E75"},{"fullName":"Ebenezer Arthur","role":"Partner","linkedinURL":"","initials":"EA","avatarBgColor":"#A32D2D"},{"fullName":"Victor Sada","role":"Principal","linkedinURL":"","initials":"VS","avatarBgColor":"#712B13"},{"fullName":"Mah Sissoko","role":"Associate","linkedinURL":"","initials":"MS","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"Protexxa","sector":"Cybersecurity","stage":"Series A","year":2024},{"name":"Moneta Health","sector":"Healthtech / Biotech","stage":"Seed","year":2025},{"name":"Woveo","sector":"Fintech / Insurtech","stage":"Seed","year":2023},{"name":"Workind","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2023}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.bkrcapital.ca/about/our-team","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec21","slug":"maple-vc","name":"Maple VC","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed","Series A","Series B+"],"sectors":["SaaS / Vertical SaaS","AI / ML","Fintech / Insurtech","Marketplace / Consumer","Devtools / Infra"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Seed first-check, follow-on capable"},"leadFollow":"Both","province":["QC","ON","BC","AB","NS","MB","SK","NB","NL","PE","OTHER"],"hq":{"city":"San Francisco","region":"OTHER"},"languages":["EN"],"founded":2017,"fundSize":{"value":22,"currency":"CAD","vintage":2021},"activity":"Actif","lastDealDate":"2025-12-01","website":"https://maplevc.com/","linkedinURL":"https://www.linkedin.com/company/maplevc","logo":"/assets/vc-logos/maple-vc.png?v=4","logoBgColor":"#C47A2F","thesis":{"en":"Maple VC is a seed-stage venture capital fund based in San Francisco that invests exclusively in companies led by founders with Canadian roots, regardless of where the company is built. Founded by Andre Charoo (former #25 employee at Uber pre-IPO, ex-Inovia Venture Partner, Co-Chair of The C100). Fund I raised $1.2M; Fund II closed at $16.5M USD in November 2021; Fund III is currently being raised targeting $35M to $45M USD. The fund explicitly positions itself as a bridge between Canadian founders and the Silicon Valley network, particularly useful for raising future US rounds. Notable portfolio includes Clay (sales development, $1.3B unicorn valuation reached January 2025) and Neo Financial. Geographic outlier in this directory: included because the mandate is Canadian founders specifically.","fr":"Maple VC est un fonds de capital de risque seed basé à San Francisco qui investit exclusivement dans des entreprises dirigées par des fondateurs d'origine canadienne, peu importe où l'entreprise est bâtie. Fondé par Andre Charoo (ex-employé #25 d'Uber avant l'IPO, ex-Venture Partner chez Inovia, co-président de The C100). Le Fonds I a levé 1,2 M$; le Fonds II a clôturé à 16,5 M$ US en novembre 2021; le Fonds III est en cours de levée avec une cible de 35 à 45 M$ US. Le fonds se positionne explicitement comme un pont entre les fondateurs canadiens et le réseau Silicon Valley, particulièrement utile pour lever de futurs tours américains. Portefeuille notable : Clay (outil de développement de ventes, valorisation licorne à 1,3 G$ atteinte en janvier 2025) et Neo Financial. Outlier géographique dans ce directory : inclus car le mandat est spécifiquement fondateurs canadiens."},"tagline":{"en":"Silicon Valley fund for Canadian-rooted founders.","fr":"Fonds Silicon Valley pour fondateurs d'origine canadienne."},"valueAdd":{"en":["Silicon Valley bridge for Canadian founders","C100 network and Uber operator pedigree","Inovia Emerging Manager backing","Curated talent bench (Stripe, Figma, Uber alumni)","Track record incl. Clay unicorn"],"fr":["Pont Silicon Valley pour fondateurs canadiens","Réseau C100 et bagage opérateur Uber","Soutien Inovia Emerging Managers","Banc de talents (alumni Stripe, Figma, Uber)","Track record incluant la licorne Clay"]},"followOnNarrative":{"en":"Maple VC keeps fund-size-appropriate reserves and prioritizes pro-rata in breakout companies, leveraging C100 and Inovia ties to bring US tier-1 leads into Series A and B. Founders should expect proactive introductions, not lead cheques on follow-ons.","fr":"Maple VC conserve des reserves adaptees a la taille du fonds et privilegie le pro rata sur ses meilleures participations, en s'appuyant sur les reseaux C100 et Inovia pour amener des leads americains de premier rang en Serie A et B. Les fondateurs peuvent compter sur des intros proactives, pas sur des cheques lead en suivi."},"keyQuestions":{"en":["Are you a Canadian-rooted founder (born, raised, educated, or building in Canada at some point)?","Do you plan to raise your next round from US VCs, and is the Silicon Valley network material to your plan?","Where will the company be incorporated and where will the founders sit?"],"fr":["Êtes-vous un fondateur d'origine canadienne (né, élevé, formé ou ayant bâti au Canada à un moment)?","Comptez-vous lever votre prochain tour auprès de VCs américains, et le réseau Silicon Valley est-il déterminant pour votre plan?","Où l'entreprise sera-t-elle incorporée et où siègeront les fondateurs?"]},"coInvestors":[{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"Golden Ventures","slug":"golden-ventures"},{"name":"Version One Ventures","slug":"version-one-ventures"},{"name":"Garage Capital","slug":"garage-capital"}],"people":[{"fullName":"Andre Charoo","role":"Founding Managing Partner","linkedinURL":"https://www.linkedin.com/in/acharoo","initials":"AC","avatarBgColor":"#534AB7"},{"fullName":"John Edgar","role":"Partner","linkedinURL":"https://www.linkedin.com/in/johnedgar/","initials":"JE","avatarBgColor":"#1D9E75"},{"fullName":"Jane Lee","role":"Partner","linkedinURL":"","initials":"JL","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Clay","sector":"AI / ML","stage":"Seed","year":2017},{"name":"Neo Financial","sector":"Fintech / Insurtech","stage":"Seed","year":2020},{"name":"Bench IQ","sector":"AI / ML","stage":"Pre-seed","year":2024},{"name":"Finny","sector":"Fintech / Insurtech","stage":"Seed","year":2024},{"name":"Argus Systems","sector":"Deeptech / Hardware","stage":"Seed","year":2025},{"name":"Sonibel Instruments","sector":"Deeptech / Hardware","stage":"Pre-seed","year":2025}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.maplevc.com/portfolio","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec22","slug":"killick-capital","name":"Killick Capital","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed","Series A"],"sectors":["SaaS / Vertical SaaS","AI / ML","Healthtech / Biotech","Deeptech / Hardware","Devtools / Infra"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Multi-fund, range varies by vehicle"},"leadFollow":"Both","province":["NL","NS","NB","PE"],"hq":{"city":"St. John's","region":"NL"},"languages":["EN"],"founded":2004,"fundSize":null,"activity":"Actif","lastDealDate":"2025-11-10","website":"https://killickcapital.com/","linkedinURL":"https://ca.linkedin.com/company/killick-capital-inc-","logo":"/assets/vc-logos/killick-capital.png?v=4","logoBgColor":"#A32D2D","thesis":{"en":"Killick Capital is a St. John's-based private equity firm founded in 2004, the anchor tech investor of Newfoundland and Labrador. The firm operates three vehicles: the Killick Venture Fund (early-stage tech with high growth potential, software and TMT primary), the Killick Newfoundland & Labrador Fund (NL-focused growth), and the Killick Aerospace Fund (aerospace supply chain). Across all vehicles, Killick has made 69 investments with 21 exits. Notable portfolio: PathFactory, Sequence Bio, Avalon Holographics, Mysa, Spellbook, Swiftsure Innovations. For a NL-based or Atlantic tech founder, Killick is the most consistent local capital partner.","fr":"Killick Capital est une firme de private equity basée à St. John's, fondée en 2004, l'investisseur tech d'ancrage de Terre-Neuve-et-Labrador. La firme opère trois véhicules : le Killick Venture Fund (tech early-stage à fort potentiel de croissance, logiciel et TMT en priorité), le Killick Newfoundland & Labrador Fund (croissance focus NL), et le Killick Aerospace Fund (chaîne d'approvisionnement aérospatiale). Au total, Killick a réalisé 69 investissements pour 21 sorties. Portefeuille notable : PathFactory, Sequence Bio, Avalon Holographics, Mysa, Spellbook, Swiftsure Innovations. Pour un fondateur tech basé à NL ou en Atlantique, Killick est le partenaire local le plus constant."},"tagline":{"en":"Newfoundland and Labrador's anchor tech investor.","fr":"L'investisseur tech d'ancrage de Terre-Neuve-et-Labrador."},"valueAdd":{"en":["NL and Atlantic depth","Multi-fund flexibility (venture, growth, aerospace)","21 exits track record","Local capital signal","Software, TMT, aerospace focus"],"fr":["Profondeur NL et Atlantique","Flexibilité multi-fonds (venture, croissance, aérospatiale)","Track record 21 sorties","Signal capital local","Focus logiciel, TMT, aérospatiale"]},"followOnNarrative":{"en":"Killick maintains follow-on reserves across its three vehicles and frequently re-ups alongside Atlantic syndicate partners (Concrete, Build, NBIF) into Series A. Expect ongoing local capital support as long as the company stays anchored in NL or Atlantic Canada.","fr":"Killick maintient des reserves de suivi sur ses trois vehicules et re-investit frequemment avec ses partenaires de syndicat atlantique (Concrete, Build, NBIF) jusqu'en Serie A. Le soutien en capital local se prolonge tant que l'entreprise reste ancree a Terre-Neuve ou en Atlantique."},"keyQuestions":{"en":["Are you based in or anchored to Newfoundland and Labrador, and willing to keep operations there?","Which Killick vehicle fits your stage (Venture Fund, NL Fund, Aerospace Fund)?","What does anchor local capital from a 20-year veteran unlock for your trajectory?"],"fr":["Êtes-vous basé ou ancré à Terre-Neuve-et-Labrador, et prêt à y maintenir vos opérations?","Quel véhicule Killick correspond à votre stade (Venture Fund, NL Fund, Aerospace Fund)?","Qu'apporte un capital local d'un vétéran de 20 ans pour votre trajectoire?"]},"coInvestors":[{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Build Ventures","slug":"build-ventures"},{"name":"NBIF","slug":"nbif"},{"name":"Concrete Ventures","slug":"concrete-ventures"},{"name":"Venture Newfoundland and Labrador","slug":"venture-newfoundland-and-labrador"}],"people":[{"fullName":"Mark Dobbin","role":"Founder & President","linkedinURL":"https://www.linkedin.com/in/mark-dobbin-04841b7/","initials":"MD","avatarBgColor":"#534AB7"},{"fullName":"Tom Williams","role":"Partner & VP, Investments Aerospace","linkedinURL":"","initials":"TW","avatarBgColor":"#1D9E75"},{"fullName":"Joe McKenna","role":"Partner & VP, Investments Venture and Newfoundland","linkedinURL":"","initials":"JM","avatarBgColor":"#A32D2D"},{"fullName":"Valerie Copeland","role":"Director of Investments","linkedinURL":"","initials":"VC","avatarBgColor":"#712B13"}],"portfolio":[{"name":"CoLab Software","sector":"SaaS / Vertical SaaS","stage":"Series C","year":2025},{"name":"QuickFacts","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2024},{"name":"Mysa","sector":"Climate / Energy","stage":"Series A","year":2020},{"name":"Spellbook","sector":"AI / ML","stage":"Seed","year":2023},{"name":"SiftMed","sector":"Healthtech / Biotech","stage":"Seed","year":2023},{"name":"Avalon Holographics","sector":"Deeptech / Hardware","stage":"Seed","year":2019}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://killickcapital.com/portfolio/","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec23","slug":"active-impact-investments","name":"Active Impact Investments","type":"VC","conviction":"pure-play","stages":["Pre-seed","Seed","Series A"],"sectors":["Climate / Energy"],"ticket":{"min":500000,"max":3000000,"currency":"CAD","label":"$500k to $3M CAD"},"leadFollow":"Both","province":["QC","ON","BC","AB"],"hq":{"city":"Vancouver","region":"BC"},"languages":["EN"],"founded":2018,"fundSize":{"value":110,"currency":"CAD","vintage":2025},"activity":"Tres actif","lastDealDate":"2026-03-01","website":"https://www.activeimpactinvestments.com/","linkedinURL":"https://ca.linkedin.com/company/activeimpactinvestments","logo":"/assets/vc-logos/active-impact-investments.png?v=4","logoBgColor":"#10B981","thesis":{"en":"Active Impact is Canada's largest dedicated climate tech seed fund with $180M+ AUM after closing Fund III at $110M in May 2025. The firm targets revenue-generating climate companies ($200K to $3M ARR) and operates a 'capital + talent' model, running a shared talent hub for portfolio companies. Fund III plans to back 25 companies total, primarily in Canada with some US allocation. Co-anchored by Northleaf Capital and Fondaction, with Boann, Co-operators, Deloitte Ventures and InBC as supporting LPs.","fr":"Active Impact est le plus gros fonds seed dédié au climat au Canada, avec 180 M$+ sous gestion après le close du Fonds III à 110 M$ en mai 2025. Le fonds cible des entreprises climat avec revenu (200 k$ à 3 M$ d'ARR) et opère un modèle 'capital + talent' avec un hub de recrutement partagé pour le portefeuille. Le Fonds III vise 25 sociétés au total, principalement au Canada avec allocation US. Co-anchored par Northleaf Capital et Fondaction, avec Boann, Co-operators, Deloitte Ventures et InBC en LP de soutien."},"tagline":{"en":"Canada's largest climate tech seed fund.","fr":"Le plus gros fonds seed climat au Canada."},"valueAdd":{"en":["Climate sector depth","Fractional talent hub","Northleaf and Fondaction LP signal","Operator hiring playbook","National Canada coverage"],"fr":["Profondeur secteur climat","Hub de recrutement fractionnel","Signal LP Northleaf et Fondaction","Playbook embauche opérateurs","Couverture nationale Canada"]},"followOnNarrative":{"en":"Active Impact reserves roughly half of Fund III ($110M) for follow-ons through Series A and partners with Northleaf Capital and US climate growth funds for Series B. The team expects monthly KPI reporting and clear carbon impact metrics alongside revenue progression.","fr":"Active Impact reserve environ la moitie du Fonds III (110 M$) pour les suivis jusqu'a la Serie A et s'associe a Northleaf Capital et aux fonds climat growth americains pour la Serie B. L'equipe attend un reporting KPI mensuel et des metriques carbone claires en parallele du revenu."},"keyQuestions":{"en":["Where are you on revenue, and what is the path to $3M ARR within 24 months?","Which carbon, energy or sustainability metric do you own that the market will measure you on?","What operator hires are blocking your next phase, and how can our talent hub help?"],"fr":["Où en êtes-vous côté revenu, et quel est le chemin vers 3 M$ d'ARR en 24 mois?","Quelle métrique carbone, énergie ou durabilité possédez-vous et qui définira votre marché?","Quelles embauches d'opérateurs bloquent votre prochaine phase, et comment notre hub talent peut-il aider?"]},"coInvestors":[{"name":"Northleaf Capital Partners","slug":"northleaf-capital-partners"},{"name":"Fondaction","slug":"fondaction"},{"name":"Boann","slug":"boann"},{"name":"Co-operators CVC Fund","slug":"co-operators-cvc-fund"},{"name":"Deloitte Ventures","slug":"deloitte-ventures"},{"name":"InBC","slug":"inbc"}],"people":[{"fullName":"Mike Winterfield","role":"Founder & Managing Partner","linkedinURL":"https://ca.linkedin.com/in/mike-winterfield-827408","initials":"MW","avatarBgColor":"#534AB7"},{"fullName":"Tom Boddez","role":"Partner","linkedinURL":"","initials":"TB","avatarBgColor":"#1D9E75"},{"fullName":"Tom Suter","role":"Partner","linkedinURL":"","initials":"TS","avatarBgColor":"#A32D2D"},{"fullName":"Imran Hossain","role":"Principal","linkedinURL":"","initials":"IH","avatarBgColor":"#712B13"},{"fullName":"Isabel Pisano","role":"Investment Associate","linkedinURL":"","initials":"IP","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"Hyfluence","sector":"Climate / Energy","stage":"Series A","year":2026},{"name":"ThinkLabs AI","sector":"AI / ML","stage":"Series A","year":2026},{"name":"Jetson","sector":"Climate / Energy","stage":"Series A","year":2026},{"name":"Maia Farms","sector":"Climate / Energy","stage":"Seed","year":2026},{"name":"C.Scale","sector":"Climate / Energy","stage":"Pre-seed","year":2025},{"name":"Skyward Wildfire Technologies","sector":"Climate / Energy","stage":"Seed","year":2025},{"name":"RIPTK","sector":"Climate / Energy","stage":"Seed","year":2025}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.activeimpactinvestments.com/team","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec24","slug":"developer-capital-devcap","name":"Developer Capital (DevCap)","type":"VC","conviction":"pure-play","stages":["Pre-seed","Seed"],"sectors":["AI / ML"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Not disclosed"},"leadFollow":"Both","province":["QC","ON"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":null,"fundSize":{"value":7.5,"currency":"CAD","vintage":null},"activity":"Actif","lastDealDate":null,"website":"https://www.devcap.ai","linkedinURL":"https://www.linkedin.com/company/developer-capital","logo":"/assets/vc-logos/developer-capital-devcap.png?v=4","logoBgColor":"#F59E0B","thesis":{"en":"Developer Capital (DevCap) is a Montreal evergreen investment corporation spun out of software studio Monadical. It backs early-stage AI startups with capital and hands-on access to a software development team, and has roughly 10 portfolio companies after closing an additional $5M.","fr":"Developer Capital (DevCap) est une societe d'investissement evergreen montrealaise issue du studio logiciel Monadical. Elle soutient des startups d'IA en amorcage avec du capital et un acces concret a une equipe de developpement logiciel, et compte environ 10 societes en portefeuille apres un closing additionnel de 5 M$."},"tagline":{"en":"Capital plus a dev team for early-stage AI.","fr":"Du capital et une equipe de devs pour l'IA en amorcage."},"valueAdd":{"en":["In-house software development team","AI product-build support","No management fees","Evergreen patient capital","Technical founder empathy"],"fr":["Equipe de developpement logiciel interne","Soutien a la construction de produits IA","Aucuns frais de gestion","Capital patient evergreen","Empathie pour les fondateurs techniques"]},"followOnNarrative":{"en":"DevCap recycles returns through its evergreen structure and continues to support portfolio companies with engineering capacity rather than large follow-on cheques. It introduces founders to traditional VCs when a priced round is the right next step.","fr":"DevCap recycle ses rendements via sa structure evergreen et continue d'appuyer ses societes avec de la capacite d'ingenierie plutot qu'avec de gros cheques de suivi. Le fonds presente les fondateurs a des VC traditionnels lorsqu'un tour valorise devient la bonne etape suivante."},"keyQuestions":{"en":["What part of your AI product would move fastest with an embedded development team?","Are you comfortable with patient evergreen capital rather than a fixed-term fund timeline?","What does your first $1M of revenue depend on?"],"fr":["Quelle partie de votre produit IA avancerait le plus vite avec une equipe de developpement integree?","Etes-vous a l'aise avec du capital patient evergreen plutot qu'avec l'echeancier d'un fonds a duree fixe?","De quoi depend votre premier million de revenus?"]},"coInvestors":[],"people":[{"fullName":"Jordan Steiner","role":"CEO","linkedinURL":"","initials":"JS","avatarBgColor":"#534AB7"},{"fullName":"Max McCrea","role":"Chair & CTO","linkedinURL":"","initials":"MM","avatarBgColor":"#1D9E75"}],"portfolio":[],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.devcap.ai","lastVerifiedAt":"2026-05-20","editorialLevel":"Long tail (FR only)"},{"id":"rec25","slug":"inovia-capital","name":"Inovia Capital","type":"VC","conviction":"tech-actif","stages":["Seed","Series A","Series B+"],"sectors":["AI / ML","Marketplace / Consumer","Cybersecurity","Fintech / Insurtech","Healthtech / Biotech","Devtools / Infra","SaaS / Vertical SaaS"],"ticket":{"min":1000000,"max":50000000,"currency":"CAD","label":"$1M to $50M CAD"},"leadFollow":"Lead","province":["QC"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2007,"fundSize":{"value":3500,"currency":"CAD","vintage":2023},"activity":"Tres actif","lastDealDate":"2026-04-07","website":"https://inovia.vc","linkedinURL":"https://www.linkedin.com/company/inovia-capital/","logo":"/assets/vc-logos/inovia-capital.png?v=4","logoBgColor":"#F97316","thesis":{"en":"Canada's largest tech VC ($3.5B AUM), Inovia invests at early and growth stages in ambitious technology companies aiming to become global category leaders. The firm is multi-stage (pre-seed to growth) and operates a full-stack platform with offices in Montreal, Toronto, New York, London and Abu Dhabi. Inovia systematically takes the lead, deploys cheques from $1M to $50M, and supports founders with a dedicated operating team (talent, GTM, finance, international expansion). The firm targets technical founders with global ambition, particularly in SaaS, AI, fintech, marketplaces and cybersecurity.","fr":"Plus grand fonds tech au Canada (3,5 G$ sous gestion), Inovia investit en early et en growth dans des entreprises tech ambitieuses qui visent le statut de leader mondial dans leur categorie. La firme est multi-stade (preamorcage jusqu'a la croissance) et opere une plateforme full-stack avec des bureaux a Montreal, Toronto, New York, Londres et Abu Dhabi. Elle prend systematiquement le lead, deploie des cheques de 1 M$ a 50 M$, et appuie ses fondateurs avec une equipe operationnelle dediee (talent, GTM, finance, expansion internationale). Inovia recherche des fondateurs techniques au calibre global, particulierement en SaaS, IA, fintech, marketplaces et cybersecurite."},"tagline":{"en":"Building global category leaders out of Canada.","fr":"Batir des leaders mondiaux depuis le Canada."},"valueAdd":{"en":["GTM playbook","Talent platform","International expansion","Growth follow-on","Founder community"],"fr":["Playbook GTM","Plateforme talent","Expansion internationale","Follow-on growth","Communaute fondateurs"]},"followOnNarrative":{"en":"Multi-stage platform actively bridges seed companies into Inovia's growth fund, with reserves to lead Series B and C when the company is on plan.","fr":"La plateforme multi-stade fait le pont entre les entreprises seed et le fonds growth d'Inovia, avec des reserves pour lead les series B et C lorsque l'entreprise tient son plan."},"keyQuestions":{"en":["What is your path to a global category leadership position in 5 years?","How does your GTM motion compound across geographies?","Which hires unlock the next 12 months of revenue?"],"fr":["Quel est votre chemin vers une position de leader mondial dans 5 ans?","Comment votre motion GTM se compose entre les geographies?","Quelles embauches debloquent les 12 prochains mois de revenus?"]},"coInvestors":[{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Real Ventures","slug":"real-ventures"},{"name":"Georgian","slug":"georgian"},{"name":"OMERS Ventures","slug":"omers-ventures"},{"name":"CDPQ","slug":"cdpq"}],"people":[{"fullName":"Chris Arsenault","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/chrisarsenault/","initials":"CA","avatarBgColor":"#534AB7"},{"fullName":"Dennis Kavelman","role":"Partner","linkedinURL":"https://www.linkedin.com/in/denniskavelman/","initials":"DK","avatarBgColor":"#1D9E75"},{"fullName":"Karam Nijjar","role":"Partner","linkedinURL":"https://ca.linkedin.com/in/karamdeep","initials":"KN","avatarBgColor":"#A32D2D"},{"fullName":"Patrick Pichette","role":"General Partner","linkedinURL":"https://uk.linkedin.com/in/patrick-pichette-22067a26b","initials":"PP","avatarBgColor":"#712B13"}],"portfolio":[{"name":"Cohere","sector":"AI / ML","stage":"Series B+","year":2025},{"name":"Botpress","sector":"AI / ML","stage":"Series B","year":2025},{"name":"Spellbook","sector":"AI / ML","stage":"Series B","year":2025},{"name":"Novisto","sector":"SaaS / Vertical SaaS","stage":"Series C","year":2025},{"name":"Photonic","sector":"Deeptech / Hardware","stage":"Series B","year":2026},{"name":"Gaiia","sector":"SaaS / Vertical SaaS","stage":"Series B","year":2026},{"name":"Neo Financial","sector":"Fintech / Insurtech","stage":"Series D+","year":2024}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.inovia.vc/about/","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec26","slug":"garage-capital","name":"Garage Capital","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed","Series A"],"sectors":["SaaS / Vertical SaaS","Devtools / Infra","AI / ML"],"ticket":{"min":250000,"max":1500000,"currency":"CAD","label":"$250K-$1.5M"},"leadFollow":"Both","province":["ON"],"hq":{"city":"Waterloo","region":"ON"},"languages":["EN"],"founded":2013,"fundSize":null,"activity":"Tres actif","lastDealDate":"2026-04-14","website":"https://garage.vc/","linkedinURL":"https://www.linkedin.com/company/garage-capital","logo":"/assets/vc-logos/garage-capital.png?v=4","logoBgColor":"#8B5CF6","thesis":{"en":"Waterloo-based pre-seed and seed fund founded by Michael Litt (Vidyard) and operators from BufferBox and Vidyard. Garage is highly active across the Toronto-Waterloo corridor in B2B software, dev tools and AI, with over 200 portfolio companies. The firm leverages a strong Y Combinator alumni network and a clear thesis on backing technical founders building durable software businesses. Accompaniment is intensely operational, with hands-on support on product, GTM and US expansion.","fr":"Fonds pre-seed et seed waterloovien fondé par Michael Litt (Vidyard) et des opérateurs de BufferBox et Vidyard. Très actif sur le corridor Toronto-Waterloo en logiciels B2B, dev tools et IA. Plus de 200 sociétés en portefeuille. Réseau YC alumni solide et thèse claire sur les fondateurs techniques. Accompagnement très opérationnel."},"tagline":{"en":"Waterloo to YC, founder-operator backed.","fr":"De Waterloo a YC, finance par des operateurs."},"valueAdd":{"en":["YC alumni network","Founder-operator credibility","Waterloo-Toronto corridor","B2B SaaS depth","Dev tools expertise"],"fr":["Réseau alumni YC","Crédibilité fondateur-opérateur","Corridor Waterloo-Toronto","Expertise SaaS B2B","Savoir-faire dev tools"]},"followOnNarrative":{"en":"Garage holds reserves for pro rata in its strongest performers and leverages a dense YC alumni network to introduce founders to top US Series A leads, with proven exits like Groq backing the bridge.","fr":"Garage conserve des réserves pour exercer son pro rata sur ses meilleures sociétés et s'appuie sur un réseau dense d'alumni YC pour introduire ses fondateurs auprès des meilleurs leads Série A américains, comme l'illustre la sortie Groq."},"keyQuestions":{"en":["What is your wedge into developer or B2B buyers and how do you expand from there?","How do you reach $1M ARR with a small founding team?","Are you targeting YC and how does your story land with US Series A funds?"],"fr":["Quelle est votre porte d'entrée chez les développeurs ou acheteurs B2B et comment élargissez-vous?","Comment atteignez-vous 1 M$ d'ARR avec une petite équipe fondatrice?","Visez-vous YC et comment votre histoire résonne-t-elle auprès des fonds Série A américains?"]},"coInvestors":[{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"Golden Ventures","slug":"golden-ventures"},{"name":"FutureSight","slug":"futuresight"},{"name":"Real Ventures","slug":"real-ventures"}],"people":[{"fullName":"Michael Litt","role":"Co-Founder, General Partner","linkedinURL":"https://www.linkedin.com/in/michaellitt/","initials":"ML","avatarBgColor":"#534AB7"},{"fullName":"Devon Galloway","role":"Co-Founder, General Partner","linkedinURL":"https://www.linkedin.com/in/devongalloway/","initials":"DG","avatarBgColor":"#1D9E75"},{"fullName":"Mike McCauley","role":"Co-Founder, General Partner","linkedinURL":"https://www.linkedin.com/in/mikemccauley/","initials":"MM","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Groq","sector":"AI / Inference Hardware","stage":"Exit","year":2024},{"name":"Astranis","sector":"Aerospace / Satellites","stage":"Series D","year":2024},{"name":"Aalo Atomics","sector":"Climate / Nuclear","stage":"Seed","year":2024},{"name":"Substack","sector":"Media / Subscription","stage":"Series B","year":2021},{"name":"Census","sector":"SaaS / Data Infrastructure","stage":"Series B","year":2022},{"name":"Humi HR","sector":"SaaS / HR Tech","stage":"Series B","year":2022},{"name":"Loon","sector":"AI / SaaS","stage":"Seed","year":2025},{"name":"Dominion Dynamics","sector":"Aerospace / Defense","stage":"Seed","year":2025}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.garage.vc/","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec27","slug":"mistral-venture-partners","name":"Mistral Venture Partners","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed"],"sectors":["AI / ML","Fintech / Insurtech","Devtools / Infra","Deeptech / Hardware","SaaS / Vertical SaaS","Marketplace / Consumer"],"ticket":{"min":500000,"max":2000000,"currency":"CAD","label":"$500k to $2M CAD"},"leadFollow":"Lead","province":["ON"],"hq":{"city":"Ottawa","region":"ON"},"languages":["EN"],"founded":2013,"fundSize":{"value":100,"currency":"CAD","vintage":2024},"activity":"Actif","lastDealDate":"2026-01-07","website":"https://mistral.vc","linkedinURL":"https://www.linkedin.com/company/mistralvc/","logo":"/assets/vc-logos/mistral-venture-partners.png?v=4","logoBgColor":"#712B13","thesis":{"en":"Mistral Venture Partners is an Ottawa-based seed fund founded in 2013, specialized in B2B SaaS, enterprise software and online marketplaces in Canada. Fund IV (~$100M CAD, vintage 2024) is actively deploying, with a notable $7.5M commitment from Fonds FTQ in November 2024. Cheques of $500K to $2M CAD at pre-seed and seed, with a lead posture. The team (Code Cubitt, Bernie Zeisig, Mike Scanlin, Pablo Srugo and others) operates from a pragmatic thesis: solid unit economics from seed onward, capital efficiency, and close operational support through Series A.","fr":"Mistral Venture Partners est un fonds d'amorçage basé à Ottawa, fondé en 2013, spécialisé dans les startups B2B SaaS, logiciels d'entreprise et marketplaces en ligne au Canada. Le Fonds IV (~100 M$ CA, vintage 2024) est actif, avec un engagement notable de 7,5 M$ du Fonds FTQ en novembre 2024. Tickets de 500 K$ à 2 M$ CA, en pré amorçage et amorçage, en posture lead. L'équipe (Code Cubitt, Bernie Zeisig, Mike Scanlin, Pablo Srugo et autres) revendique une thèse pragmatique : fondamentaux économiques solides dès l'amorçage, focus sur l'efficience capital et accompagnement opérationnel rapproché jusqu'à la Série A."},"tagline":{"en":"Ottawa seed VC for capital-efficient B2B SaaS","fr":"VC d'amorçage Ottawa, B2B SaaS efficient en capital"},"valueAdd":{"en":["Capital-efficient seed","B2B SaaS playbook","Series A introductions","Founder peer network","Pricing & sales coaching"],"fr":["Amorçage efficient en capital","Méthode B2B SaaS","Introductions Série A","Réseau de pairs fondateurs","Coaching pricing et vente"]},"followOnNarrative":{"en":"Mistral reserves a meaningful share of each fund for follow-on and is known to bridge strong portfolio companies between rounds. Pro-rata is exercised selectively at Series A.","fr":"Mistral réserve une part significative de chaque fonds pour les tours subséquents et n'hésite pas à pontifier ses meilleures sociétés entre deux tours. Le pro rata est exercé sélectivement en Série A."},"keyQuestions":{"en":["Are you building B2B SaaS or vertical software with early paying customers and capital-efficient growth?","Are you raising $1-2M seed and looking for a Canadian lead with deep operator experience?","Do you have a credible 18-month plan to a Series A with US or Canadian institutional investors?"],"fr":["Construisez-vous du B2B SaaS ou un logiciel vertical avec des clients payants initiaux et une croissance efficiente en capital ?","Levez-vous un amorçage de 1 à 2 M$ et cherchez-vous un lead canadien avec une forte expérience opérationnelle ?","Disposez-vous d'un plan crédible sur 18 mois vers une Série A avec des investisseurs institutionnels canadiens ou américains ?"]},"coInvestors":[{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Fonds de solidarite FTQ","slug":"fonds-de-solidarite-ftq"},{"name":"Real Ventures","slug":"real-ventures"},{"name":"Garage Capital","slug":"garage-capital"},{"name":"Inovia Capital","slug":"inovia-capital"}],"people":[{"fullName":"Code Cubitt","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/codecubitt/","initials":"CC","avatarBgColor":"#534AB7"},{"fullName":"Bernie Zeisig","role":"Partner","linkedinURL":"https://www.linkedin.com/in/bernie-zeisig-a4206124/","initials":"BZ","avatarBgColor":"#1D9E75"},{"fullName":"Pablo Srugo","role":"Partner","linkedinURL":"https://www.linkedin.com/in/pablosrugo/","initials":"PS","avatarBgColor":"#A32D2D"},{"fullName":"Mike Scanlin","role":"Partner","linkedinURL":"https://www.linkedin.com/in/mikescanlin/","initials":"MS","avatarBgColor":"#712B13"},{"fullName":"Raif Barbaros","role":"Partner","linkedinURL":"","initials":"RB","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"Fellow.app","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2019},{"name":"Knak","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2020},{"name":"Rewind","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2017},{"name":"Frugal","sector":"Fintech / Insurtech","stage":"Seed","year":2025},{"name":"Backboard.io","sector":"AI / ML","stage":"Pre-seed","year":2026}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.mistral.vc/","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec28","slug":"seido-capital-anciennement-theodorus","name":"Seido Capital (anciennement Theodorus)","type":"VC","conviction":"pure-play","stages":["Pre-seed","Seed","Series A"],"sectors":["Healthtech / Biotech"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Not disclosed"},"leadFollow":"Both","province":["QC","ON"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2003,"fundSize":{"value":45,"currency":"CAD","vintage":2025},"activity":"Actif","lastDealDate":null,"website":"https://www.seidocapital.com","linkedinURL":"https://www.linkedin.com/company/seido-capital/","logo":"/assets/vc-logos/seido-capital-anciennement-theodorus.png?v=4","logoBgColor":"#F97316","thesis":{"en":"Seido Capital, formerly Belgium's Theodorus (founded 2003), rebranded and moved its headquarters to Montreal. It invests at the early stage in life sciences startups at the convergence of AI, software and biopharma. Fund V holds about $45M CAD in initial commitments, with roughly 80% of capital earmarked for Canadian companies.","fr":"Seido Capital, anciennement le belge Theodorus (fonde en 2003), a rebrande et relocalise son siege a Montreal. Le fonds investit au stade d'amorcage dans des startups en sciences de la vie a la convergence de l'IA, du logiciel et de la biopharma. Le Fund V compte environ 45 M$ CAD d'engagements initiaux, dont environ 80 % du capital reserve aux entreprises canadiennes."},"tagline":{"en":"Early-stage life sciences, Belgian roots, Montreal base.","fr":"Sciences de la vie en amorcage, racines belges, base montrealaise."},"valueAdd":{"en":["Twenty-year life sciences track record","Transatlantic Belgium and Canada network","AI-biopharma convergence expertise","Lead capacity at seed","Clinical development guidance"],"fr":["Vingt ans d'historique en sciences de la vie","Reseau transatlantique Belgique et Canada","Expertise de la convergence IA-biopharma","Capacite de lead a l'amorcage","Accompagnement du developpement clinique"]},"followOnNarrative":{"en":"Seido Capital reserves a meaningful share of Fund V for follow-on into its life sciences winners and syndicates Series A rounds with Canadian and US specialist investors. Follow-on conviction tracks clinical and regulatory milestones.","fr":"Seido Capital reserve une part importante du Fund V pour suivre ses gagnants en sciences de la vie et syndique les tours de serie A avec des investisseurs specialises canadiens et americains. La conviction de suivi suit les jalons cliniques et reglementaires."},"keyQuestions":{"en":["What is the next clinical or regulatory milestone, and how much capital does it require?","How does AI or software give your therapeutic or diagnostic a durable edge?","Who are the natural Series A co-investors for your indication?"],"fr":["Quel est le prochain jalon clinique ou reglementaire, et combien de capital exige-t-il?","En quoi l'IA ou le logiciel donne-t-il a votre therapeutique ou votre diagnostic un avantage durable?","Qui sont les co-investisseurs naturels en serie A pour votre indication?"]},"coInvestors":[],"people":[],"portfolio":[],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.seidocapital.com","lastVerifiedAt":"2026-05-20","editorialLevel":"Long tail (FR only)"},{"id":"rec29","slug":"conexus-venture-capital","name":"Conexus Venture Capital","type":"VC","conviction":"generaliste","stages":["Pre-seed","Seed","Series A"],"sectors":["SaaS / Vertical SaaS","AI / ML","Climate / Energy","Healthtech / Biotech","Fintech / Insurtech","Marketplace / Consumer"],"ticket":{"min":500000,"max":3000000,"currency":"CAD","label":"$500k to $3M CAD"},"leadFollow":"Lead","province":["SK"],"hq":{"city":"Regina","region":"SK"},"languages":["EN"],"founded":2019,"fundSize":{"value":62,"currency":"CAD","vintage":2023},"activity":"Actif","lastDealDate":"2026-03-31","website":"https://conexusventurecapital.ca","linkedinURL":"https://www.linkedin.com/company/conexusventurecapital/","logo":"/assets/vc-logos/conexus-venture-capital.png?v=4","logoBgColor":"#712B13","thesis":{"en":"Regina-based regional fund anchored by Conexus Credit Union. The team backs early-stage founders in general tech and agtech across Saskatchewan and the Canadian Prairies, with a generalist approach but a strong regional anchor. Cheques span seed to Series B+, with both lead and follow-on capacity. Fund II closed at year-end 2025 at $30M, following Fund I of $32M. Conexus is a privileged Prairie entry point for founders who want a local lead with strong community ties and follow-on syndication into national funds.","fr":"Fonds régional des Prairies adossé à Conexus Credit Union, basé à Regina. L'équipe soutient des fondateurs early-stage en technologies générales et agtech à travers la Saskatchewan et les Prairies canadiennes. Approche généraliste mais avec un ancrage régional fort et des tickets seed à Série B+. Le Fonds II a clôturé fin 2025 à 30 M$, après un Fonds I de 32 M$."},"tagline":{"en":"Prairie tech capital, Conexus-backed.","fr":"Le capital tech des Prairies, signe Conexus."},"valueAdd":{"en":["Prairie ecosystem anchor","Agtech domain knowledge","Credit union LP base","Saskatchewan customer intros","Regional flexibility"],"fr":["Ancrage écosystème des Prairies","Expertise agtech","Base LP credit union","Intros clients Saskatchewan","Flexibilité régionale"]},"followOnNarrative":{"en":"Fund II closed at $30M at year-end 2025 with reserves dedicated to seed extensions and Series A follow-ons. Conexus regularly syndicates with BDC Capital, Panache Ventures, Golden Ventures, Real Ventures, Build Ventures and Founderfuel to bridge Prairie founders into national rounds.","fr":"Le Fonds II a cloture a 30 M$ fin 2025 avec des reserves dediees aux extensions seed et aux suivis en Serie A. Conexus syndique regulierement avec BDC Capital, Panache Ventures, Golden Ventures, Real Ventures, Build Ventures et Founderfuel pour faire passer les fondateurs des Prairies a des rondes nationales."},"keyQuestions":{"en":["How does your roadmap leverage Prairie agriculture or industrial customers as design partners?","What is your plan to attract and retain technical talent outside the major Canadian tech hubs?","Which Conexus member businesses could become customers or distribution partners?"],"fr":["Comment votre feuille de route exploite-t-elle les clients agricoles ou industriels des Prairies comme partenaires de conception?","Quel est votre plan pour attirer et retenir des talents techniques hors des grands hubs canadiens?","Quelles entreprises membres de Conexus pourraient devenir des clients ou des partenaires de distribution?"]},"coInvestors":[{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Panache Ventures","slug":"panache-ventures"},{"name":"Golden Ventures","slug":"golden-ventures"},{"name":"Real Ventures","slug":"real-ventures"},{"name":"Build Ventures","slug":"build-ventures"},{"name":"Founderfuel","slug":"founderfuel"}],"people":[{"fullName":"Jordan McFarlen","role":"Managing Director","linkedinURL":"","initials":"JM","avatarBgColor":"#534AB7"},{"fullName":"Kyle Scott","role":"Partner","linkedinURL":"","initials":"KS","avatarBgColor":"#1D9E75"},{"fullName":"Rob Russell","role":"Partner","linkedinURL":"","initials":"RR","avatarBgColor":"#A32D2D"},{"fullName":"Erin Trapp","role":"Partner","linkedinURL":"","initials":"ET","avatarBgColor":"#712B13"}],"portfolio":[{"name":"Mystoria","sector":"AI / ML","stage":"Seed","year":2026},{"name":"Alto Technologies","sector":"Healthtech / Biotech","stage":"Pre-seed","year":2025},{"name":"LiORA","sector":"Climate / Energy","stage":"Seed","year":2025},{"name":"Offstreet","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2025},{"name":"7shifts","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2019},{"name":"Coconut Software","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2019}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.conexusventurecapital.ca/about-us/our-companies/","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec30","slug":"amiral-ventures","name":"Amiral Ventures","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed"],"sectors":["SaaS / Vertical SaaS","AI / ML","Deeptech / Hardware","Climate / Energy"],"ticket":{"min":500000,"max":3000000,"currency":"CAD","label":"$500k to $3M CAD"},"leadFollow":"Lead","province":["QC","ON"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2022,"fundSize":{"value":40,"currency":"CAD","vintage":2025},"activity":"Actif","lastDealDate":"2025-10-01","website":"https://www.amiral.vc/","linkedinURL":"https://ca.linkedin.com/company/amiralvc","logo":"/assets/vc-logos/amiral-ventures.png?v=4","logoBgColor":"#F59E0B","thesis":{"en":"Amiral Ventures is a Montreal early-stage fund led by repeat founders, created to address the shortage of lead investors in Canadian venture. It backs pre-seed and seed startups in applied AI, productivity software, deep tech and the energy transition, leading rounds with a $40M first close (target $75M).","fr":"Amiral Ventures est un fonds montrealais d'amorcage dirige par des fondateurs en serie, cree pour repondre au manque d'investisseurs meneurs dans le capital de risque canadien. Le fonds soutient des startups de pre-amorcage et d'amorcage en IA appliquee, logiciel de productivite, deeptech et transition energetique, et mene des tours avec un premier close de 40 M$ (cible de 75 M$)."},"tagline":{"en":"Founder-led leadership for Canadian pre-seed and seed.","fr":"Du leadership de fondateurs pour l'amorcage canadien."},"valueAdd":{"en":["Repeat-founder operating experience","Lead investor capacity","Canadian VC leadership focus","Applied AI and productivity expertise","Energy transition reach"],"fr":["Experience operationnelle de fondateurs en serie","Capacite d'investisseur meneur","Focus sur le leadership du VC canadien","Expertise IA appliquee et productivite","Portee transition energetique"]},"followOnNarrative":{"en":"Amiral Ventures reserves a substantial portion of its fund for follow-on and aims to lead or co-lead the next round rather than passively follow. Conviction is driven by clear product-market signal and disciplined burn.","fr":"Amiral Ventures reserve une portion substantielle de son fonds pour le suivi et vise a mener ou co-mener le tour suivant plutot qu'a suivre passivement. La conviction repose sur un signal clair de product-market fit et un burn discipline."},"keyQuestions":{"en":["What evidence shows you are pulling ahead of alternatives, not just growing?","Are you ready to be led, with the governance that a lead investor brings?","What is the 24-month plan to a fundable Series A?"],"fr":["Quelle preuve montre que vous prenez l'avantage sur les alternatives, et pas seulement que vous croissez?","Etes-vous prets a etre menes, avec la gouvernance qu'apporte un investisseur lead?","Quel est le plan sur 24 mois vers une serie A finançable?"]},"coInvestors":[],"people":[{"fullName":"Frederic Bastien","role":"Managing Partner","linkedinURL":"","initials":"FB","avatarBgColor":"#534AB7"},{"fullName":"Dominic Becotte","role":"Co-Managing Partner","linkedinURL":"","initials":"DB","avatarBgColor":"#1D9E75"},{"fullName":"Nectarios Economakis","role":"Partner","linkedinURL":"","initials":"NE","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Maket","sector":"AI / ML","stage":"2025","year":null},{"name":"Maxa","sector":"SaaS / Vertical SaaS","stage":"","year":null}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://betakit.com/amiral-ventures-holds-40-million-first-close-to-address-lack-of-leadership-in-canadian-vc/","lastVerifiedAt":"2026-05-20","editorialLevel":"Long tail (FR only)"},{"id":"rec31","slug":"rhino-ventures","name":"Rhino Ventures","type":"VC","conviction":"tech-actif","stages":["Seed","Series A","Series B+"],"sectors":["Generalist (no thesis)"],"ticket":{"min":500000,"max":5000000,"currency":"CAD","label":"$500K-$5M"},"leadFollow":"Lead","province":["BC"],"hq":{"city":"Vancouver","region":"BC"},"languages":["EN"],"founded":2015,"fundSize":{"value":120,"currency":"CAD","vintage":2025},"activity":"Actif","lastDealDate":"2025-09-18","website":"https://rhinovc.com/","linkedinURL":"https://www.linkedin.com/company/rhinovc","logo":"/assets/vc-logos/rhino-ventures.png?v=4","logoBgColor":"#A32D2D","thesis":{"en":"Vancouver-based early-stage fund formerly known as Vancouver Founder Fund, rebranded as Rhino. Fund III closed in 2021 at $120M CAD, oversubscribed, broadening coverage beyond Western Canada. The team invests from pre-seed through Series A in technology companies across Canada with a generalist tilt. Rhino positions itself as the kind of capital partner the partners would have wanted as founders themselves: rapid decisions, founder-friendly terms and tactical operational support on hiring and GTM.","fr":"Fonds vancouvérois early-stage anciennement Vancouver Founder Fund, rebaptisé Rhino. Le Fonds III a clôturé en 2021 à 120 M$ CA, en sursouscription, élargissant la couverture au-delà de l'Ouest canadien. Du pre-seed à la Série A. L'équipe se positionne comme les financiers que ses partners auraient aimé avoir comme fondateurs."},"tagline":{"en":"The fund founders wished they had.","fr":"Le fonds que les fondateurs auraient voulu."},"valueAdd":{"en":["Founder-operator perspective","Western Canada roots","Pan-Canadian reach","Hands-on support","Pre-seed to Series A"],"fr":["Perspective fondateur-opérateur","Racines Ouest canadien","Portée pancanadienne","Accompagnement actif","Pre-seed à Série A"]},"followOnNarrative":{"en":"Rhino keeps reserves for follow-on rounds and syndicates Series A and B with Canadian and US funds (Inovia, Version One, Yaletown). Founders are expected to share quarterly KPI updates and a clear plan to the next milestone.","fr":"Rhino conserve des réserves pour les tours subséquents et syndique les Séries A et B avec des fonds canadiens et américains (Inovia, Version One, Yaletown). Les fondateurs partagent des KPI trimestriels et un plan clair vers le prochain jalon."},"keyQuestions":{"en":["What founder support do you wish your last investor had given you?","How do you scale from your first 10 customers to 100 efficiently?","What is your hiring plan for engineering and GTM in the next 12 months?"],"fr":["Quel soutien aux fondateurs auriez-vous voulu de votre dernier investisseur?","Comment passez-vous efficacement de 10 à 100 premiers clients?","Quel est votre plan d'embauche en ingénierie et go-to-market sur 12 mois?"]},"coInvestors":[{"name":"Kensington Capital Partners","slug":"kensington-capital-partners"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"Version One Ventures","slug":"version-one-ventures"},{"name":"Yaletown Partners","slug":"yaletown-partners"},{"name":"Renewal Funds","slug":"renewal-funds"}],"people":[{"fullName":"Fraser Hall","role":"Partner","linkedinURL":"https://www.linkedin.com/in/fraserdhall/","initials":"FH","avatarBgColor":"#534AB7"},{"fullName":"Jay Rhind","role":"Partner","linkedinURL":"https://www.linkedin.com/in/jayrhind/","initials":"JR","avatarBgColor":"#1D9E75"},{"fullName":"David Hogarth","role":"Partner","linkedinURL":"https://www.linkedin.com/in/davidhogarth/","initials":"DH","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"ShopVision","sector":"AI / ML","stage":"Seed","year":2025},{"name":"MyFO","sector":"Fintech / Insurtech","stage":"Seed","year":2024},{"name":"Quinn AI","sector":"AI / ML","stage":"Seed","year":null},{"name":"Stem Health","sector":"Healthtech / Biotech","stage":"Seed","year":null},{"name":"FISPAN","sector":"Fintech / Insurtech","stage":"Growth","year":null},{"name":"Klue","sector":"SaaS / Vertical SaaS","stage":"Growth","year":null},{"name":"Thinkific","sector":"SaaS / Vertical SaaS","stage":"Growth","year":null}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://rhinovc.com/team","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec32","slug":"ripple-ventures","name":"Ripple Ventures","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed","Series A"],"sectors":["AI / ML","Climate / Energy","Cybersecurity","Fintech / Insurtech","Healthtech / Biotech","Devtools / Infra","SaaS / Vertical SaaS"],"ticket":{"min":250000,"max":750000,"currency":"CAD","label":"$250k to $750k CAD"},"leadFollow":"Lead","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2018,"fundSize":{"value":50,"currency":"CAD","vintage":2022},"activity":"Actif","lastDealDate":"2026-02-01","website":"https://rippleventures.com","linkedinURL":"https://www.linkedin.com/company/rippleventures/","logo":"/assets/vc-logos/ripple-ventures.png?v=4","logoBgColor":"#F59E0B","thesis":{"en":"Toronto-based pre-seed lead in B2B software across Canada and the US. Ripple acts as an extension of the founding team at the earliest stages, focused on the period before institutional seed. Fund III is anchored by RBC and BDC/VCCI, with more than 20 companies financed since late 2022. The team is intensely operational, working with founders on first hires, GTM motion and Series A readiness. Ripple suits founders who want an active partner at the round before seed, with conviction and speed.","fr":"Fonds torontois lead en pre-seed dans les logiciels B2B au Canada et aux États-Unis. Ripple agit comme prolongement de l'équipe fondatrice dès les tout premiers stades. Le Fonds III est ancré par RBC et BDC/VCCI. Plus de 20 sociétés financées depuis fin 2022. Approche très opérationnelle, adaptée aux fondateurs cherchant un partenaire actif au tour précédant le seed."},"tagline":{"en":"Pre-seed B2B, founder co-pilot.","fr":"Pre-seed B2B, copilote du fondateur."},"valueAdd":{"en":["Pre-seed lead specialist","Founder co-pilot model","B2B software focus","Canada-US bridge","RBC and BDC anchor"],"fr":["Spécialiste lead pre-seed","Modèle copilote fondateur","Focus logiciels B2B","Pont Canada vers États-Unis","Ancrage RBC et BDC"]},"followOnNarrative":{"en":"Ripple reserves selectively for follow-on at seed and bridges founders into institutional Series A syndicates with Golden Ventures, Inovia and US tier-1 partners. Monthly KPI cadence and a defined Series A milestone plan are expected.","fr":"Ripple conserve des réserves sélectives en follow-on au seed et accompagne les fondateurs vers les syndicats de Série A institutionnels avec Golden Ventures, Inovia et des partenaires américains. KPI mensuels et plan défini vers la Série A sont attendus."},"keyQuestions":{"en":["What does the first 5 customer conversations tell us about the painkiller versus vitamin question?","How are you building the founding team to scale from 0 to 1 to repeatable sales?","What is the smallest win in the next 6 months that would prove you should keep going?"],"fr":["Que nous disent les 5 premières conversations clients sur la question antidouleur versus vitamine?","Comment construisez-vous l'équipe fondatrice pour passer de 0 à 1 à des ventes répétables?","Quelle est la plus petite victoire dans les 6 prochains mois qui prouverait que vous devez continuer?"]},"coInvestors":[{"name":"RBC","slug":"rbc"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Golden Ventures","slug":"golden-ventures"},{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"Maple VC","slug":"maple-vc"},{"name":"Garage Capital","slug":"garage-capital"},{"name":"Ripple X Fellows Fund","slug":"ripple-x-fellows-fund"}],"people":[{"fullName":"Matt Cohen","role":"Founder & Managing Partner","linkedinURL":"https://www.linkedin.com/in/matt-cohen1/","initials":"MC","avatarBgColor":"#534AB7"},{"fullName":"Dominic Lau","role":"Partner","linkedinURL":"https://www.linkedin.com/in/dominicyclau/","initials":"DL","avatarBgColor":"#1D9E75"},{"fullName":"Katie Ko","role":"Associate, Lead RippleX","linkedinURL":"https://www.linkedin.com/in/hellokatieko/","initials":"KK","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Transformer Lab","sector":"Devtools / Infra","stage":"Pre-seed","year":2026},{"name":"Terranox AI","sector":"AI / ML","stage":"Seed","year":2026},{"name":"Mycroft","sector":"AI / ML","stage":"Seed","year":2025},{"name":"Asepha","sector":"Healthtech / Biotech","stage":"Seed","year":2025},{"name":"Page","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2025},{"name":"Theo AI","sector":"AI / ML","stage":"Seed","year":2024},{"name":"Cimba","sector":"AI / ML","stage":"Pre-seed","year":2024}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.rippleventures.com/team","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec33","slug":"n49p","name":"N49P","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed"],"sectors":["SaaS / Vertical SaaS","AI / ML","Fintech / Insurtech","Healthtech / Biotech","Devtools / Infra","Marketplace / Consumer"],"ticket":{"min":700000,"max":1050000,"currency":"CAD","label":"$500k to $750k USD"},"leadFollow":"Both","province":["ON","QC","BC","AB"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2018,"fundSize":null,"activity":"Tres actif","lastDealDate":"2026-03-11","website":"https://n49p.com/","linkedinURL":"https://ca.linkedin.com/company/n49p","logo":"/assets/vc-logos/n49p.png?v=4","logoBgColor":"#14B8A6","thesis":{"en":"N49P is a Toronto-based venture capital firm founded in 2018 that partners with Canadian founders at pre-seed and seed stages. Typical cheque is $500K to $750K USD. 70 portfolio companies built to date with 4 new investments in the last 12 months. Team of 13 including 5 partners. Inovia Emerging Managers program participant. Sector-broad across enterprise applications, high tech, fintech and consumer.","fr":"N49P est un fonds de capital de risque torontois fondé en 2018 qui s'associe à des fondateurs canadiens en pre-seed et seed. Chèque typique de 500 k$ à 750 k$ US. 70 entreprises construites à ce jour avec 4 nouveaux investissements sur les 12 derniers mois. Équipe de 13 personnes dont 5 partners. Participant au programme Inovia Emerging Managers. Spectre sectoriel large : applications entreprise, high tech, fintech, consumer."},"tagline":{"en":"Toronto pre-seed and seed, community-led.","fr":"Pre-seed et seed torontois, ancré communauté."},"valueAdd":{"en":["70-company portfolio depth","Pre-seed conviction","Inovia Emerging Managers backing","Toronto founder community access","Multi-sector mandate"],"fr":["Profondeur portefeuille 70 entreprises","Conviction pre-seed","Soutien Inovia Emerging Managers","Accès communauté fondateurs torontoise","Mandat multi-sectoriel"]},"followOnNarrative":{"en":"N49P holds fund-sized reserves for selective pro-rata and leverages the Inovia Emerging Managers backing to bring institutional leads into Series A. Expect introductions and warm signals, not lead follow-on cheques.","fr":"N49P conserve des reserves dimensionnees au fonds pour un pro rata selectif et s'appuie sur le programme Inovia Emerging Managers pour amener des leads institutionnels en Serie A. Attendez-vous a des intros et signaux chauds, pas a des cheques lead en suivi."},"keyQuestions":{"en":["Why are you raising a pre-seed in Canada rather than going straight to a US fund?","How does your business plug into N49P's existing 70-company community?","What does a $500K to $750K USD check unlock specifically over the next 18 months?"],"fr":["Pourquoi lever un pre-seed au Canada plutôt que de viser directement un fonds américain?","Comment votre projet se branche-t-il sur la communauté existante de 70 entreprises N49P?","Que débloque concrètement un chèque de 500 à 750 k$ US sur les 18 prochains mois?"]},"coInvestors":[{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"Garage Capital","slug":"garage-capital"},{"name":"Golden Ventures","slug":"golden-ventures"},{"name":"Version One Ventures","slug":"version-one-ventures"},{"name":"BDC Capital","slug":"bdc-capital"}],"people":[{"fullName":"Alex Norman","role":"Partner","linkedinURL":"https://www.linkedin.com/in/alexanderlnorman/","initials":"AN","avatarBgColor":"#534AB7"},{"fullName":"Omar Dhalla","role":"Partner","linkedinURL":"https://www.linkedin.com/in/omardhalla/","initials":"OD","avatarBgColor":"#1D9E75"}],"portfolio":[{"name":"HyperComply","sector":"Cybersecurity","stage":"Seed","year":2022},{"name":"Jiffy","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2021},{"name":"Mave","sector":"AI / ML","stage":"Seed","year":2026},{"name":"Backboard.io","sector":"AI / ML","stage":"Pre-seed","year":2026},{"name":"Remitian","sector":"Fintech / Insurtech","stage":"Seed","year":2026},{"name":"Maneva","sector":"AI / ML","stage":"Seed","year":2025}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.n49p.com/portfolio","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec34","slug":"real-ventures","name":"Real Ventures","type":"VC","conviction":"generaliste","stages":["Pre-seed","Seed","Series A","Series B+"],"sectors":["Generalist (no thesis)"],"ticket":{"min":250000,"max":2000000,"currency":"CAD","label":"$250k to $2M CAD"},"leadFollow":"Both","province":["QC"],"hq":{"city":"Montreal","region":"QC"},"languages":["EN","FR"],"founded":2007,"fundSize":{"value":325,"currency":"CAD","vintage":2018},"activity":"Selectif","lastDealDate":"2026-03-23","website":"https://realventures.com","linkedinURL":"https://www.linkedin.com/company/real-ventures/","logo":"/assets/vc-logos/real-ventures.png?v=4","logoBgColor":"#EC4899","thesis":{"en":"Montreal-based early-stage fund that shaped Quebec's startup ecosystem via FounderFuel, OSMO and Techstars Montreal. Real invests in mission-driven entrepreneurs leveraging technology to address pressing global challenges, with a focus on founders showing a growth mindset. More than $325M CAD deployed across five funds into 200+ companies. The next generation of partners is preparing the next fund, with continued seed leadership in Quebec and broader Canada.","fr":"Fonds montréalais early-stage qui a façonné l'écosystème des startups à Montréal via FounderFuel, OSMO et Techstars. Real soutient des entrepreneurs missionnaires qui utilisent la technologie pour s'attaquer à des défis mondiaux. Plus de 325 M$ déployés à travers cinq fonds dans 200+ entreprises. La nouvelle génération de partners prépare le prochain fonds."},"tagline":{"en":"The fund that built Montreal tech.","fr":"Le fonds qui a bâti la tech montréalaise."},"valueAdd":{"en":["Montreal ecosystem depth","Mission-driven founder coaching","FounderFuel alumni network","200-plus portfolio reach","Generational partner transition"],"fr":["Profondeur écosystème montréalais","Coaching fondateurs missionnaires","Réseau alumni FounderFuel","Portée portefeuille 200 et plus","Transition générationnelle des partners"]},"followOnNarrative":{"en":"Real reserves follow-on capital for high-conviction names and routinely syndicates with US tier-one seed and Series A funds. Future follow-on activity will be set by the cadence and posture of the next fund as the partnership transitions.","fr":"Real reserve du capital de suivi pour ses convictions fortes et syndique frequemment avec les fonds amorcage et Serie A americains de premier rang. La cadence de suivi future sera definie par le prochain fonds, alors que la firme transitionne sa generation de partners."},"keyQuestions":{"en":["What is the global problem you are mission-bound to solve, and why now?","How does this round fit our next fund's pace and posture as the firm transitions partners?","Which Real portfolio founders have you already spoken to, and what did they tell you?"],"fr":["Quel problème mondial avez-vous pour mission de résoudre, et pourquoi maintenant?","Comment ce tour s'inscrit-il dans la cadence et la posture de notre prochain fonds alors que la firme transitionne ses partners?","Quels fondateurs du portefeuille Real avez-vous déjà rencontrés, et que vous ont-ils dit?"]},"coInvestors":[{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Investissement Quebec","slug":"investissement-quebec"},{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"Golden Ventures","slug":"golden-ventures"},{"name":"Panache Ventures","slug":"panache-ventures"},{"name":"EDC","slug":"edc"},{"name":"FCMI Financial","slug":"fcmi-financial"}],"people":[{"fullName":"John Stokes","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/johnstokes/","initials":"JS","avatarBgColor":"#534AB7"},{"fullName":"Katy Yam","role":"Partner & FounderFuel General Manager","linkedinURL":"https://www.linkedin.com/in/katyyam/","initials":"KY","avatarBgColor":"#1D9E75"},{"fullName":"Sam Haffar","role":"Partner","linkedinURL":"https://www.linkedin.com/in/samhaffar/","initials":"SH","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"SPARK Microsystems","sector":"Deeptech / Hardware","stage":"Series B+","year":2026},{"name":"tilt.pro","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2025},{"name":"BioIntelligence Technologies","sector":"Healthtech / Biotech","stage":"Seed","year":2024},{"name":"HumanFirst","sector":"Healthtech / Biotech","stage":"Seed","year":2023},{"name":"Nomic Bio","sector":"Healthtech / Biotech","stage":"Series B+","year":2024},{"name":"Blumind","sector":"AI / ML","stage":"Series A","year":2025},{"name":"Eli Health","sector":"Healthtech / Biotech","stage":"Series A","year":2025}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://realventures.com/team/","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec35","slug":"svg-ventures-thrive","name":"SVG Ventures | Thrive","type":"VC","conviction":"pure-play","stages":["Pre-seed","Seed","Series A"],"sectors":["Climate / Energy"],"ticket":{"min":500000,"max":3000000,"currency":"CAD","label":"$500k to $3M CAD"},"leadFollow":"Both","province":["AB"],"hq":{"city":"Calgary","region":"AB"},"languages":["EN"],"founded":2010,"fundSize":{"value":50,"currency":"CAD","vintage":2022},"activity":"Actif","lastDealDate":"2026-01-23","website":"https://thriveagrifood.com","linkedinURL":"https://www.linkedin.com/company/thriveagrifood/","logo":"/assets/vc-logos/svg-ventures-thrive.png?v=4","logoBgColor":"#EC4899","thesis":{"en":"Global agrifood VC and accelerator with a Canadian arm established in Calgary in 2021 thanks to a $2.5M grant from OCIF. SVG Thrive invests in startups revolutionizing the agrifood landscape through technology-enabled solutions that mitigate climate change, address food security and improve the sustainability of global food systems. Fund III closed at $50M CAD, anchored by Farm Credit Canada. The platform combines investment with one of the most respected accelerator programs in the agrifood vertical worldwide.","fr":"VC et accelerateur agrifood mondial, avec une filiale canadienne etablie a Calgary depuis 2021 grace a 2,5 M$ de l'OCIF. SVG Thrive investit dans les startups qui transforment l'agroalimentaire avec des solutions technologiques pour attenuer le changement climatique, renforcer la securite alimentaire et ameliorer la durabilite des systemes alimentaires mondiaux. Le Pioneer Fund (Fonds III) vise 75 M$ CAD, ancre par Financement agricole Canada."},"tagline":{"en":"Agrifood VC, FCC anchored.","fr":"VC agroalimentaire, ancre par FAC."},"valueAdd":{"en":["Agrifood domain depth","FCC anchor relationships","Global accelerator network","Climate-food expertise","Prairies access"],"fr":["Expertise agroalimentaire","Lien avec FAC","Réseau accélérateur mondial","Savoir-faire climat-alimentation","Accès aux Prairies"]},"followOnNarrative":{"en":"SVG Thrive participates in follow-on rounds for breakout portfolio companies and leverages its global Thrive accelerator network plus FCC relationships to bring strategic co-investors into Series A and B. KPI sharing and pilot-to-revenue milestones are expected.","fr":"SVG Thrive participe aux tours subséquents pour les sociétés en breakout et mobilise son réseau accélérateur Thrive mondial et ses liens FAC pour amener des co-investisseurs stratégiques en Série A et B. Partage de KPI et jalons pilote-vers-revenu attendus."},"keyQuestions":{"en":["How does your technology measurably improve sustainability or food security?","What is your path to pilot and adoption with farmers, processors, or retailers?","How will you leverage FCC and the global Thrive network for distribution?"],"fr":["Comment votre technologie améliore-t-elle concrètement la durabilité ou la sécurité alimentaire?","Quel est votre chemin vers les pilotes et l'adoption chez les agriculteurs, transformateurs ou détaillants?","Comment exploiterez-vous FAC et le réseau mondial Thrive pour la distribution?"]},"coInvestors":[{"name":"Farm Credit Canada","slug":"farm-credit-canada"},{"name":"Builders VC","slug":"builders-vc"},{"name":"AltaML Venture Studio","slug":"altaml-venture-studio"},{"name":"Kagome","slug":"kagome"},{"name":"BDC Capital","slug":"bdc-capital"}],"people":[{"fullName":"John Hartnett","role":"Partner","linkedinURL":"","initials":"JH","avatarBgColor":"#534AB7"},{"fullName":"Helen Hartnett","role":"Partner","linkedinURL":"","initials":"HH","avatarBgColor":"#1D9E75"},{"fullName":"John Cassidy","role":"Partner","linkedinURL":"","initials":"JC","avatarBgColor":"#A32D2D"},{"fullName":"Danny O’Brien","role":"Partner","linkedinURL":"","initials":"DO","avatarBgColor":"#712B13"},{"fullName":"Rose O’Connor","role":"Partner","linkedinURL":"","initials":"RO","avatarBgColor":"#0EA5E9"},{"fullName":"Greg Young","role":"Partner","linkedinURL":"","initials":"GY","avatarBgColor":"#F59E0B"}],"portfolio":[{"name":"Cellar Insights","sector":"Climate / Energy","stage":"Seed","year":2026},{"name":"Brilliant Harvest","sector":"Climate / Energy","stage":"Seed","year":2025},{"name":"AgroSpheres","sector":"Climate / Energy","stage":"Series A","year":2021},{"name":"ProducePay","sector":"Climate / Energy","stage":"Series C","year":2021},{"name":"Brandless","sector":"Marketplace / Consumer","stage":"Series A","year":2018}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://betakit.com/cellar-insights-pockets-500000-investment-to-help-it-protect-potatoes/","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec36","slug":"brightspark-ventures","name":"Brightspark Ventures","type":"VC","conviction":"tech-actif","stages":["Seed","Series A"],"sectors":["Climate / Energy","AI / ML","Marketplace / Consumer","Fintech / Insurtech","Healthtech / Biotech","Devtools / Infra","Deeptech / Hardware","SaaS / Vertical SaaS"],"ticket":{"min":2500000,"max":3000000,"currency":"CAD","label":"$2.5M to $3M CAD"},"leadFollow":"Lead","province":["QC"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":1999,"fundSize":{"value":500,"currency":"CAD","vintage":2024},"activity":"Actif","lastDealDate":"2026-04-01","website":"https://brightspark.com","linkedinURL":"https://www.linkedin.com/company/brightspark/","logo":"/assets/vc-logos/brightspark-ventures.png?v=4","logoBgColor":"#8B5CF6","thesis":{"en":"One of the oldest Canadian VCs (founded 1999), with offices in Montreal and Toronto. Brightspark prioritizes exceptional founding teams attacking markets poised for disruption, and consistently partners with founders who become category winners. Cheques of $2.5M to $3M CAD as lead, from pre-seed to Series A, with a multi-sector thesis (SaaS, fintech, AI, climate, health, deeptech). Total platform of more than $500M CAD with Fund IV ($250M) and BCOF II ($100M) closed in 2024. The approach prioritizes long-term founder partnership over rigid sector dogma.","fr":"L'un des plus anciens VC canadiens (1999), basé à Montréal et Toronto, qui privilégie d'abord les équipes fondatrices exceptionnelles attaquant des marchés en rupture. Tickets de 2,5 à 3 M$ CAD en lead, du pré amorçage à la Série A, avec une thèse multi sectorielle (SaaS, fintech, IA, climat, santé, deeptech). Plateforme totale de plus de 500 M$ CAD avec le Fonds IV (250 M$) et BCOF II (100 M$) clôturés en 2024. Une approche basée sur le partenariat avec les fondateurs sur la durée plutôt qu'un dogme sectoriel."},"tagline":{"en":"Founder-first generalist VC since 1999","fr":"VC généraliste, fondateurs d'abord depuis 1999"},"valueAdd":{"en":["Founder partnership","Multi-sector flexibility","Long-tenured GPs","Canada-wide network"],"fr":["Partenariat fondateurs","Flexibilité sectorielle","GP expérimentés","Réseau pancanadien"]},"followOnNarrative":{"en":"BCOF II ($100M) sits alongside Fund IV to provide dedicated follow-on and opportunity capital into existing Brightspark winners.","fr":"BCOF II (100 M$) accompagne le Fonds IV pour fournir un capital de suivi et d'opportunité dédié aux meilleures sociétés du portefeuille Brightspark."},"keyQuestions":{"en":["Across this multi-sector thesis, how does Brightspark decide where to lead?","How does the BCOF opportunity vehicle interact with the main fund for follow-on rounds?","What does a typical Brightspark partnership look like in the first 12 months post-investment?"],"fr":["Sur une thèse aussi multi sectorielle, comment Brightspark choisit il où mener une ronde?","Comment le véhicule d'opportunité BCOF interagit il avec le fonds principal pour les suivis?","À quoi ressemble un partenariat type avec Brightspark dans les 12 premiers mois après investissement?"]},"coInvestors":[{"name":"Real Ventures","slug":"real-ventures"},{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"OMERS Ventures","slug":"omers-ventures"},{"name":"iNovia Growth","slug":"inovia-growth"}],"people":[{"fullName":"Sophie Forest","role":"Managing Partner","linkedinURL":"https://ca.linkedin.com/in/sophie-forest-835b322","initials":"SF","avatarBgColor":"#534AB7"},{"fullName":"Mark Skapinker","role":"Managing Partner","linkedinURL":"https://ca.linkedin.com/in/markskapinker","initials":"MS","avatarBgColor":"#1D9E75"},{"fullName":"Jacques Perreault","role":"Partner","linkedinURL":"https://ca.linkedin.com/in/japerreault","initials":"JP","avatarBgColor":"#A32D2D"},{"fullName":"Eleonore Jarry-Ferron","role":"Partner","linkedinURL":"https://www.linkedin.com/in/eleonore-jarry-ferron-7b1ab120/","initials":"EJ","avatarBgColor":"#712B13"},{"fullName":"Andrew Lugsdin","role":"Partner (per Brightspark team page)","linkedinURL":"https://ca.linkedin.com/in/andrewlugsdin","initials":"AL","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"Brickeye","sector":"Deeptech / Hardware","stage":"Series B+","year":2026},{"name":"Coral","sector":"Healthtech / Biotech","stage":"Seed","year":2025},{"name":"Deep Sky","sector":"Climate / Energy","stage":"Series A","year":2024},{"name":"Forcen","sector":"Deeptech / Hardware","stage":"Series A","year":2024},{"name":"Jozu","sector":"Devtools / Infra","stage":"Seed","year":2025},{"name":"Mycroft","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2025},{"name":"Optable","sector":"AI / ML","stage":"Series A","year":2023}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://brightspark.com/en","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec37","slug":"luge-capital","name":"Luge Capital","type":"VC","conviction":"pure-play","stages":["Pre-seed","Seed","Series A"],"sectors":["Fintech / Insurtech","Cybersecurity"],"ticket":{"min":1000000,"max":5000000,"currency":"CAD","label":"$1M to $5M CAD"},"leadFollow":"Lead","province":["QC"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2018,"fundSize":{"value":96,"currency":"CAD","vintage":2024},"activity":"Actif","lastDealDate":"2026-02-03","website":"https://luge.vc","linkedinURL":"https://www.linkedin.com/company/luge-capital/","logo":"/assets/vc-logos/luge-capital.png?v=4","logoBgColor":"#14B8A6","thesis":{"en":"Pure-play fintech fund based in Montreal, investing at the early stage across Canada and the US. Luge backs exceptional founders transforming financial services, from infrastructure to consumer to embedded fintech. Fund II closed in 2024 at $96M CAD, bringing total AUM to approximately $180M. Anchored by La Caisse and Sun Life. Three or more investments in 2025, including Mycroft, Cybrid and Velix. The team brings deep operator and regulatory expertise to founders building in heavily regulated financial markets.","fr":"Fonds pure-play en fintech, basé à Montréal, investissant en early-stage au Canada et aux États-Unis. Luge soutient des fondateurs exceptionnels qui transforment les services financiers. Le Fonds II a clôturé en 2024 à 96 M$ CA, portant l'AUM total à environ 180 M$. Ancré par La Caisse et Sun Life. Trois investissements ou plus en 2025, dont Mycroft, Cybrid et Velix."},"tagline":{"en":"Fintech-only, Caisse and Sun Life backed.","fr":"Fintech pure, finance par la Caisse et Sun Life."},"valueAdd":{"en":["Fintech-only specialist","Caisse and Sun Life access","Canada-US fintech bridge","FR-speaking partner team","Distribution partnership intros"],"fr":["Spécialiste fintech exclusif","Accès Caisse et Sun Life","Pont fintech Canada vers États-Unis","Équipe partenaire francophone","Intros partenariats de distribution"]},"followOnNarrative":{"en":"Luge reserves significant follow-on capital and bridges portfolio companies into Series A and B with US fintech specialists. The team actively syndicates next rounds with FinTech Collective, Portag3 and US tier-1 funds when regulatory milestones are hit.","fr":"Luge reserve une part significative de capital pour les tours subsequents et accompagne ses participations en Serie A et B avec des specialistes fintech americains. L'equipe syndique activement les tours suivants avec FinTech Collective, Portag3 et des fonds americains de premier rang lorsque les jalons reglementaires sont atteints."},"keyQuestions":{"en":["What is your unit economics per customer and where does it differ from incumbents?","Which large financial institution is most likely to be your channel partner or strategic acquirer?","How are you handling regulatory exposure across Canada and the US?"],"fr":["Quelle est votre économie unitaire par client et en quoi diffère-t-elle des acteurs en place?","Quelle grande institution financière est la plus susceptible d'être votre partenaire de canal ou acquéreur stratégique?","Comment gérez-vous l'exposition réglementaire entre le Canada et les États-Unis?"]},"coInvestors":[{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Real Ventures","slug":"real-ventures"},{"name":"Portag3 Ventures","slug":"portag3-ventures"},{"name":"Sagard","slug":"sagard"},{"name":"FinTech Collective","slug":"fintech-collective"},{"name":"La Caisse","slug":"la-caisse"},{"name":"Desjardins Capital","slug":"desjardins-capital"},{"name":"National Bank","slug":"national-bank"}],"people":[{"fullName":"Karim Gillani","role":"General Partner","linkedinURL":"https://www.linkedin.com/in/kgillani/","initials":"KG","avatarBgColor":"#534AB7"},{"fullName":"David Nault","role":"General Partner","linkedinURL":"https://www.linkedin.com/in/davidnault/","initials":"DN","avatarBgColor":"#1D9E75"},{"fullName":"Laviva Mazhar","role":"Principal","linkedinURL":"https://ca.linkedin.com/in/laviva-mazhar","initials":"LM","avatarBgColor":"#A32D2D"},{"fullName":"Khrystyna Penyk","role":"Investment Associate","linkedinURL":"https://www.linkedin.com/in/khrystynapenyk/","initials":"KP","avatarBgColor":"#712B13"},{"fullName":"Rohan Monga","role":"Investment Associate","linkedinURL":"","initials":"RM","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"Velix","sector":"Fintech / Insurtech","stage":"Pre-seed","year":2026},{"name":"Mycroft","sector":"Fintech / Insurtech","stage":"Seed","year":2025},{"name":"Cybrid","sector":"Fintech / Insurtech","stage":"Series A","year":2025},{"name":"Deck","sector":"Fintech / Insurtech","stage":"Series A","year":2025},{"name":"Geolava","sector":"Cybersecurity","stage":"Seed","year":2025},{"name":"OneVest","sector":"Fintech / Insurtech","stage":"Series B","year":2025},{"name":"Nmbr","sector":"Fintech / Insurtech","stage":"Seed","year":2024}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.luge.vc/team/","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec38","slug":"innovacorp","name":"Innovacorp","type":"Public","conviction":"generaliste","stages":["Pre-seed","Seed"],"sectors":["Healthtech / Biotech","Climate / Energy","Deeptech / Hardware"],"ticket":{"min":250000,"max":2000000,"currency":"CAD","label":"$250K-$2M"},"leadFollow":"Both","province":["NS"],"hq":{"city":"Halifax","region":"NS"},"languages":["EN"],"founded":1995,"fundSize":null,"activity":"Actif","lastDealDate":"2026-02-05","website":"https://investnovascotia.ca/","linkedinURL":"https://www.linkedin.com/company/invest-nova-scotia","logo":"/assets/vc-logos/innovacorp.png?v=4","logoBgColor":"#F97316","thesis":{"en":"Originally established in 1995, Innovacorp was consolidated with Nova Scotia Business Inc. into Invest Nova Scotia in 2023. VC activity continues through the Nova Scotia First Fund (NSFF), which is highly active across the Maritimes. The vehicle targets knowledge-based, early-stage startups with a strong regional anchor. Recent deal: $1M into 3DBioFibR in July 2025. A core pillar of public-sector startup financing in Nova Scotia, with deep ties to Atlantic Canadian university and research ecosystems.","fr":"Innovacorp (etabli en 1995) a ete consolide avec Nova Scotia Business Inc. au sein d'Invest Nova Scotia en 2023. L'activite VC se poursuit via le Nova Scotia First Fund (NSFF), qui emet des cheques pre-seed et seed dans des startups neo-ecossaises a forte composante savoir et recherche. Tres actif dans les Maritimes. Dernier deal divulgue : 500 K$ dans pHathom Technologies en fevrier 2026. Pilier du financement public en Nouvelle-Ecosse."},"tagline":{"en":"Maritime knowledge startups, public capital.","fr":"Startups knowledge des Maritimes, capital public."},"valueAdd":{"en":["Maritime ecosystem anchor","Public capital patience","Knowledge-based focus","Nova Scotia network","First institutional check"],"fr":["Ancrage écosystème maritime","Patience capital public","Focus savoir et recherche","Réseau néo-écossais","Premier chèque institutionnel"]},"followOnNarrative":{"en":"The Nova Scotia First Fund typically writes first institutional cheques of around $1M and follows portfolio companies through subsequent seed and Series A rounds, often syndicating with Build Ventures, Killick Capital and BDC.","fr":"Le Nova Scotia First Fund emet generalement des premiers cheques institutionnels d'environ 1 M$ et suit les participations dans les rondes seed et Serie A subsequentes, souvent en syndicat avec Build Ventures, Killick Capital et BDC."},"keyQuestions":{"en":["How does your IP or research advantage translate to commercial revenue?","What is your plan to attract follow-on private capital after the public round?","How will you build national or international customer pipeline from Atlantic Canada?"],"fr":["Comment votre PI ou avantage de recherche se traduit-il en revenus commerciaux?","Quel est votre plan pour attirer du capital privé follow-on après le tour public?","Comment bâtirez-vous un pipeline client national ou international depuis le Canada atlantique?"]},"coInvestors":[{"name":"Build Ventures","slug":"build-ventures"},{"name":"Concrete Ventures","slug":"concrete-ventures"},{"name":"Killick Capital","slug":"killick-capital"},{"name":"NBIF","slug":"nbif"},{"name":"BDC Capital","slug":"bdc-capital"}],"people":[{"fullName":"Charles Baxter","role":"VP, Investment","linkedinURL":"https://ca.linkedin.com/in/charles-baxter-78a59b7","initials":"CB","avatarBgColor":"#534AB7"},{"fullName":"Paul Richards","role":"Investment Director","linkedinURL":"https://www.linkedin.com/in/paul-richards-48366016a/","initials":"PR","avatarBgColor":"#1D9E75"},{"fullName":"Jen Fuccillo","role":"Senior Manager, Early-Stage Growth","linkedinURL":"https://www.linkedin.com/in/jenniferfuccillo/","initials":"JF","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"pHathom Technologies","sector":"Climate / Energy","stage":"Pre-seed","year":2026},{"name":"3DBioFibR","sector":"Deeptech / Hardware","stage":"Seed","year":2025},{"name":"Blue Charm Adherence","sector":"Healthtech / Biotech","stage":"Seed","year":2025},{"name":"Sensor Globe","sector":"Deeptech / Hardware","stage":"Seed","year":2025},{"name":"RFINE Biomass Solutions","sector":"Climate / Energy","stage":"Pre-seed","year":2025},{"name":"Elle MD Biotechnologies","sector":"Healthtech / Biotech","stage":"Pre-seed","year":2025}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://investnovascotia.ca/news-and-stories/disclosures-venture-capital-investments-202526","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec39","slug":"dmz-ventures-fund","name":"DMZ Ventures Fund","type":"VC","conviction":"generaliste","stages":["Pre-seed","Seed"],"sectors":["SaaS / Vertical SaaS","AI / ML","Fintech / Insurtech","Healthtech / Biotech","Marketplace / Consumer"],"ticket":{"min":100000,"max":250000,"currency":"CAD","label":"$100k to $250k CAD"},"leadFollow":"Both","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2023,"fundSize":{"value":5,"currency":"CAD","vintage":2024},"activity":"Actif","lastDealDate":"2025-10-01","website":"https://dmzventures.com/","linkedinURL":"https://ca.linkedin.com/company/dmz-ventures","logo":"/assets/vc-logos/dmz-ventures-fund.png?v=4","logoBgColor":"#F97316","thesis":{"en":"DMZ Ventures Fund (DMZV) is the for-profit investment arm of DMZ, the Toronto Metropolitan University tech incubator (formerly Ryerson) that has supported 2,450+ startups raising $2.94B+ across 15+ countries since 2010. The fund is initially capitalized at $5M CAD with plans for up to 10 investments per year, cheques of $100k to $250k, into pre-seed and seed-stage startups from inside and outside the DMZ portfolio. Funded by recycled revenue from DMZ's consulting arm and portfolio exits. Lead, co-lead and follow-on capable. Returns flow back to the university to advance further innovation.","fr":"DMZ Ventures Fund (DMZV) est le bras d'investissement à but lucratif de DMZ, l'incubateur tech de l'Université Toronto Metropolitan (anciennement Ryerson) qui a appuyé 2 450+ startups ayant levé 2,94 G$+ dans 15+ pays depuis 2010. Le fonds est initialement capitalisé à 5 M$ CAD avec un plan jusqu'à 10 investissements par an, chèques de 100 k$ à 250 k$, en pre-seed et seed dans des startups venant ou non du portefeuille DMZ. Financé par les revenus recyclés du conseil DMZ et les sorties d'alumni. Capable de lead, co-lead et follow-on. Les rendements retournent à l'université pour appuyer plus d'innovation."},"tagline":{"en":"DMZ incubator's for-profit investment arm.","fr":"Le bras d'investissement à but lucratif de l'incubateur DMZ."},"valueAdd":{"en":["DMZ alumni network access","Toronto Metropolitan University platform","Pre-seed and seed flexibility","Lead, co-lead or follow-on","Recycled revenue model from consulting"],"fr":["Accès réseau alumni DMZ","Plateforme Université Toronto Metropolitan","Flexibilité pre-seed et seed","Lead, co-lead ou follow-on","Modèle revenus recyclés du conseil"]},"followOnNarrative":{"en":"With a $5M CAD pool and $100K to $250K initial cheques, DMZ Ventures keeps modest reserves for top performers and actively bridges founders to seed and Series A leads via the DMZ alumni and partner network.","fr":"Avec un pool de 5 M$ CA et des chèques initiaux de 100 à 250 K$, DMZ Ventures garde des réserves modestes pour ses meilleures sociétés et fait le pont vers les leads seed et Série A via le réseau d'alumni et de partenaires DMZ."},"keyQuestions":{"en":["Are you currently in or graduating from a DMZ program, or coming from outside the alumni base?","Is your team comfortable with a small but flexible early ticket that can lead?","How does the DMZ network of 2,450+ alumni accelerate your specific go-to-market?"],"fr":["Êtes-vous actuellement dans un programme DMZ, en train d'en sortir, ou hors base alumni?","Votre équipe est-elle à l'aise avec un petit ticket flexible mais capable de lead?","Comment le réseau DMZ de 2 450+ alumni accélère-t-il votre go-to-market spécifique?"]},"coInvestors":[{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Golden Ventures","slug":"golden-ventures"},{"name":"Garage Capital","slug":"garage-capital"},{"name":"Maple Leaf Angels","slug":"maple-leaf-angels"},{"name":"FutureSight","slug":"futuresight"}],"people":[{"fullName":"Abdullah Snobar","role":"CEO","linkedinURL":"https://www.linkedin.com/in/abdullahsnobar/","initials":"AS","avatarBgColor":"#534AB7"},{"fullName":"Sultan Mehrabi","role":"Managing Director","linkedinURL":"","initials":"SM","avatarBgColor":"#1D9E75"}],"portfolio":[{"name":"Leasey.AI","sector":"PropTech / SaaS","stage":"Seed","year":2024},{"name":"Flowjin","sector":"SaaS / Video AI","stage":"Seed","year":2024},{"name":"Talin","sector":"HR Tech / AI","stage":"Seed","year":2024},{"name":"Fibra","sector":"Fintech","stage":"Seed","year":2025},{"name":"Ada","sector":"Customer Support AI","stage":"Seed","year":2018},{"name":"Formaloo","sector":"SaaS / No-Code","stage":"Seed","year":2022}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://dmz.torontomu.ca/","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec40","slug":"sectoral-asset-management","name":"Sectoral Asset Management","type":"VC","conviction":"pure-play","stages":["Series B+"],"sectors":["Healthtech / Biotech"],"ticket":{"min":2000000,"max":10000000,"currency":"CAD","label":"$2M to $10M CAD"},"leadFollow":"Follow","province":["QC"],"hq":{"city":"Montreal","region":"QC"},"languages":["EN","FR"],"founded":2000,"fundSize":{"value":100,"currency":"CAD","vintage":2022},"activity":"Selectif","lastDealDate":"2025-10-22","website":"https://sectoral.com","linkedinURL":"https://www.linkedin.com/company/sectoral-asset-management/","logo":"/assets/vc-logos/sectoral-asset-management.png?v=4","logoBgColor":"#F97316","thesis":{"en":"Montreal-based asset manager focused primarily on global public equities in healthcare (~US$4B AUM). The VC activity operates through the Medtech Ventures Fund, targeting $100M CAD with a first close at $41.5M. The fund invests in privately held emerging life science companies developing innovative medical treatments and differentiated products based on disruptive technologies in North America and Europe. The hybrid public-private model gives Sectoral a unique cross-asset perspective on healthcare innovation.","fr":"Gestionnaire d'actifs montréalais principalement axé sur les actions publiques mondiales en santé (environ 4 G$ US AUM). L'activité VC se déploie via le Fonds Medtech Ventures, qui cible 100 M$ CA avec un premier closing à 41,5 M$. Investissements en sociétés privées émergentes développant des traitements médicaux novateurs en Amérique du Nord et en Europe. Modèle hybride public-privé."},"tagline":{"en":"Healthcare investing, public and private.","fr":"Investir en sante, public et prive."},"valueAdd":{"en":["Life sciences depth","Public-private bridge","Medtech expertise","Transatlantic network","Clinical diligence"],"fr":["Expertise sciences de la vie","Pont public-privé","Savoir-faire medtech","Réseau transatlantique","Diligence clinique"]},"followOnNarrative":{"en":"Sectoral reserves significant capital for follow-on rounds through clinical and regulatory milestones, often syndicating with US specialist funds (OrbiMed, Deerfield, Longitude). Founders share milestone-driven updates and a clear regulatory and reimbursement roadmap.","fr":"Sectoral réserve un capital significatif pour les tours subséquents jusqu'aux jalons cliniques et réglementaires, en syndication avec des fonds spécialistes américains (OrbiMed, Deerfield, Longitude). Les fondateurs partagent des mises à jour par jalon et une feuille de route claire en réglementation et remboursement."},"keyQuestions":{"en":["What clinical or regulatory milestones unlock the next valuation step?","How does your differentiated technology compare to incumbents in North America and Europe?","What is your reimbursement and payer strategy at commercial launch?"],"fr":["Quels jalons cliniques ou réglementaires débloquent la prochaine étape de valorisation?","En quoi votre technologie se différencie des acteurs établis en Amérique du Nord et en Europe?","Quelle est votre stratégie de remboursement et de payeurs au lancement commercial?"]},"coInvestors":[{"name":"Cormorant Asset Management","slug":"cormorant-asset-management"},{"name":"Vida Ventures","slug":"vida-ventures"},{"name":"Northpond Ventures","slug":"northpond-ventures"},{"name":"Longitude Capital","slug":"longitude-capital"},{"name":"Deerfield Management","slug":"deerfield-management"},{"name":"OrbiMed","slug":"orbimed"}],"people":[{"fullName":"Stefan Larson","role":"Partner, Venture Capital","linkedinURL":"https://www.linkedin.com/in/stefan-larson-aa67721/","initials":"SL","avatarBgColor":"#534AB7"},{"fullName":"Marc-Andre Marcotte","role":"Partner & COO","linkedinURL":"https://www.linkedin.com/in/marc-andre-marcotte-4a09a78/","initials":"MM","avatarBgColor":"#1D9E75"},{"fullName":"Michael Sjostrom","role":"Partner","linkedinURL":"https://www.linkedin.com/in/michaelsjostrom/","initials":"MS","avatarBgColor":"#A32D2D"},{"fullName":"Francois Beaubien","role":"Partner","linkedinURL":"","initials":"FB","avatarBgColor":"#712B13"}],"portfolio":[{"name":"Antegrade Medical","sector":"Healthtech / Biotech","stage":"Seed","year":2025},{"name":"Leaflet Solutions","sector":"Healthtech / Biotech","stage":"Seed","year":2025},{"name":"Evommune","sector":"Healthtech / Biotech","stage":"Series B+","year":2024},{"name":"Cagent Vascular","sector":"Healthtech / Biotech","stage":"Series B+","year":2024},{"name":"Apnimed","sector":"Healthtech / Biotech","stage":"Series B+","year":2024},{"name":"Garuda Therapeutics","sector":"Healthtech / Biotech","stage":"Series B+","year":2023},{"name":"Magnolia Medical Technologies","sector":"Healthtech / Biotech","stage":"Series B+","year":2022}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.sectoral.com/en/venture-capital/","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec41","slug":"round13-capital","name":"Round13 Capital","type":"VC","conviction":"tech-actif","stages":["Seed","Series A","Series B+"],"sectors":["Generalist (no thesis)"],"ticket":{"min":5000000,"max":20000000,"currency":"CAD","label":"$5M to $20M CAD"},"leadFollow":"Both","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2013,"fundSize":{"value":300,"currency":"CAD","vintage":2023},"activity":"Actif","lastDealDate":"2026-02-17","website":"https://round13.com","linkedinURL":"https://www.linkedin.com/company/round13capital/","logo":"/assets/vc-logos/round13-capital.png?v=4","logoBgColor":"#534AB7","thesis":{"en":"Round13 Capital is a Toronto-based growth-stage technology investor dedicated to Canadian software and tech companies that have already validated their business model. The flagship fund (Round13 Growth, ~$300M CAD) targets Series B+ with cheques of $5M to $20M CAD as lead or co-lead. The platform also includes a growth fund and a Web3 vehicle (~US$70M). Founded in 2013 by Bruce Croxon (Lavalife, Dragons' Den) and John Eckert, Round13 brings operational rigor, governance discipline and international expansion expertise. The team is known for hands-on post-investment work on revenue, hiring and M&A.","fr":"Round13 Capital est un investisseur torontois en capital de croissance technologique, dédié aux entreprises canadiennes en logiciel et tech ayant déjà validé leur modèle d'affaires. Le fonds principal (Round13 Growth, ~300 M$ CA) cible la Série B+ avec des tickets de 5 à 20 M$ CA, en posture lead ou co-lead. La plateforme inclut aussi un fonds de croissance et un véhicule Web3 (~70 M$ US). Fondé en 2013 par Bruce Croxon (Lavalife, Dragons' Den) et John Eckert, Round13 mise sur la rigueur opérationnelle, la gouvernance et l'expansion internationale pour accompagner les fondateurs jusqu'à la sortie. L'équipe est connue pour son implication concrète post investissement (revenue, hiring, M&A)."},"tagline":{"en":"Canadian growth-stage tech, lead cheques up to $20M","fr":"Capital de croissance tech canadien jusqu'à 20 M$"},"valueAdd":{"en":["Growth playbook","GTM scaling","Executive recruiting","M&A and exit prep","Public market readiness"],"fr":["Stratégie de croissance","Mise à l'échelle GTM","Recrutement de dirigeants","Préparation M&A et sortie","Préparation aux marchés publics"]},"followOnNarrative":{"en":"Round13 reserves significant capital for follow-ons across its Growth fund and selectively co-invests with US growth investors. The team prefers founders who keep them informed quarter to quarter on KPIs and runway.","fr":"Round13 conserve un capital significatif pour les tours subséquents via son fonds de croissance et co investit sélectivement avec des fonds américains de growth. L'équipe privilégie les fondateurs qui partagent trimestriellement KPI et runway."},"keyQuestions":{"en":["Are you at $5M+ ARR with predictable growth and unit economics that justify a Series B+ lead?","Do you have a credible expansion plan into the US or international markets?","Are you open to active board involvement and a 5-7 year path to a strategic exit or IPO?"],"fr":["Avez-vous dépassé 5 M$ d'ARR avec une croissance prévisible et des économies unitaires qui justifient un lead en Série B+ ?","Disposez-vous d'un plan d'expansion crédible vers les marchés américain ou internationaux ?","Êtes-vous ouverts à une participation active au conseil et à un horizon de 5 à 7 ans vers une sortie stratégique ou IPO ?"]},"coInvestors":[{"name":"BDC Capital","slug":"bdc-capital"},{"name":"OMERS Ventures","slug":"omers-ventures"},{"name":"Georgian","slug":"georgian"},{"name":"Insight Partners","slug":"insight-partners"},{"name":"Export Development Canada","slug":"export-development-canada"}],"people":[{"fullName":"Bruce Croxon","role":"Co-Founder & Partner","linkedinURL":"https://www.linkedin.com/in/brucecroxon/","initials":"BC","avatarBgColor":"#534AB7"},{"fullName":"John Eckert","role":"Co-Founder & Managing Partner","linkedinURL":"https://www.linkedin.com/in/john-eckert-75280412/","initials":"JE","avatarBgColor":"#1D9E75"},{"fullName":"Brahm Klar","role":"Partner","linkedinURL":"https://www.linkedin.com/in/brahm-klar-b2251718","initials":"BK","avatarBgColor":"#A32D2D"},{"fullName":"Wilson Lee","role":"Partner","linkedinURL":"https://www.linkedin.com/in/wilsonjlee/","initials":"WL","avatarBgColor":"#712B13"},{"fullName":"Jack Bulger","role":"Director of Investment","linkedinURL":"https://www.linkedin.com/in/jackbulger/","initials":"JB","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"Lightworks","sector":"AI / ML","stage":"Seed","year":2026},{"name":"CloudWerx","sector":"AI / ML","stage":"Series A","year":2025},{"name":"Apex Group Technologies","sector":"SaaS / Vertical SaaS","stage":"Growth","year":2025},{"name":"WOMBO","sector":"AI / ML","stage":"Series A","year":2024},{"name":"PocketHealth","sector":"Healthtech / Biotech","stage":"Series B+","year":2024},{"name":"KOHO Financial","sector":"Fintech / Insurtech","stage":"Series B+","year":2023},{"name":"Vidyard","sector":"SaaS / Vertical SaaS","stage":"Series B+","year":2019}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://round13.com/","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec42","slug":"relay-ventures","name":"Relay Ventures","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed","Series A"],"sectors":["AI / ML","Marketplace / Consumer","Fintech / Insurtech","Deeptech / Hardware","SaaS / Vertical SaaS"],"ticket":{"min":5000000,"max":30000000,"currency":"CAD","label":"$5M to $30M CAD"},"leadFollow":"Both","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2008,"fundSize":{"value":550,"currency":"CAD","vintage":2021},"activity":"Actif","lastDealDate":"2026-01-20","website":"https://relay.vc","linkedinURL":"https://www.linkedin.com/company/relay-ventures/","logo":"/assets/vc-logos/relay-ventures.png?v=4","logoBgColor":"#A32D2D","thesis":{"en":"Toronto-based early-stage venture fund focused on Urbantech, Proptech, Fintech and Sportstech, primarily investing in startups headquartered in Canada and the United States. Cheques of $5M to $30M CAD, with both lead and follow capacity, plus a structuring partnership with the Future of Sport Lab for the sportstech vertical. Fund III at US$150M, more than $550M CAD AUM, with a senior partner team blending operator and investor backgrounds. A long-term partner for founders digitizing cities, real estate and financial services.","fr":"VC torontois axé sur le early stage en Urbantech, Proptech, Fintech et Sportstech, à travers le Canada et les États Unis. Tickets de 5 à 30 M$ CAD, capable de mener ou de suivre, avec un partenariat structurant avec le Future of Sport Lab pour la verticale sportstech. Fonds III à 150 M USD, plus de 550 M$ CAD sous gestion, avec une équipe de partenaires séniors aux profils opérateurs et investisseurs. Un partenaire à long terme pour des fondateurs qui digitalisent les villes, l'immobilier et les services financiers."},"tagline":{"en":"Early-stage VC for urbantech, proptech and fintech","fr":"VC early stage pour urbantech, proptech et fintech"},"valueAdd":{"en":["Urbantech expertise","Sportstech network","Cross-border capital","Senior partner bench"],"fr":["Expertise urbantech","Réseau sportstech","Capital transfrontalier","Banc de partenaires séniors"]},"followOnNarrative":{"en":"Relay deploys multi-stage follow-on capital across Pre-seed through Series B+, with reserves to scale into mature growth rounds.","fr":"Relay déploie un capital de suivi multi stade du pré amorçage à la Série B+, avec des réserves pour accompagner les sociétés jusqu'à la croissance."},"keyQuestions":{"en":["How does Relay differentiate its urbantech and proptech expertise from broader generalist funds?","What does the Future of Sport Lab partnership unlock for sportstech founders?","How does Relay's check size flexibility ($5M-$30M) translate into stage strategy?"],"fr":["Comment Relay différencie t il son expertise urbantech et proptech par rapport aux fonds généralistes?","Que débloque le partenariat avec le Future of Sport Lab pour les fondateurs sportstech?","Comment la flexibilité de tickets (5 à 30 M$) se traduit elle en stratégie par stade?"]},"coInvestors":[{"name":"OMERS Ventures","slug":"omers-ventures"},{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Real Ventures","slug":"real-ventures"},{"name":"Bessemer Venture Partners","slug":"bessemer-venture-partners"}],"people":[{"fullName":"John Albright","role":"Co-Founder & Managing Partner","linkedinURL":"https://ca.linkedin.com/in/johnlalbright","initials":"JA","avatarBgColor":"#534AB7"},{"fullName":"Kevin Talbot","role":"Co-Founder & Managing Partner","linkedinURL":"https://www.linkedin.com/in/ketalbot/","initials":"KT","avatarBgColor":"#1D9E75"},{"fullName":"Alex Baker","role":"Partner","linkedinURL":"https://ca.linkedin.com/in/alexbakertoronto","initials":"AB","avatarBgColor":"#A32D2D"},{"fullName":"Jeannette Wiltse","role":"Partner","linkedinURL":"https://www.linkedin.com/in/jeannettewiltse/","initials":"JW","avatarBgColor":"#712B13"}],"portfolio":[{"name":"Mave","sector":"AI / ML","stage":"Seed","year":2026},{"name":"OwnRight","sector":"Fintech / Insurtech","stage":"Seed","year":2025},{"name":"Trusty","sector":"SaaS / Vertical SaaS","stage":"Pre-seed","year":2025},{"name":"The Curling Group","sector":"Marketplace / Consumer","stage":"Seed","year":2024},{"name":"Promise Robotics","sector":"Deeptech / Hardware","stage":"Series A","year":2024},{"name":"Dark Slope","sector":"Deeptech / Hardware","stage":"Seed","year":2024},{"name":"Woveo","sector":"Fintech / Insurtech","stage":"Seed","year":2023}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://relay.vc/","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec43","slug":"good-news-ventures","name":"Good News Ventures","type":"VC","conviction":"generaliste","stages":["Pre-seed","Seed","Series A"],"sectors":["Generalist (no thesis)"],"ticket":{"min":100000,"max":500000,"currency":"CAD","label":"$100k to $500k CAD"},"leadFollow":"Follow","province":["ON"],"hq":{"city":"Markham","region":"ON"},"languages":["EN"],"founded":2017,"fundSize":{"value":10,"currency":"CAD","vintage":null},"activity":"Selectif","lastDealDate":"2025-05-31","website":"https://goodnewsventures.com","linkedinURL":"https://www.linkedin.com/company/good-news-ventures/","logo":"/assets/vc-logos/good-news-ventures.png?v=4","logoBgColor":"#1D9E75","thesis":{"en":"Markham-based pre-seed and seed-stage fund backing high-growth software startups for North American markets. Good News focuses on resilient founders across multiple tech verticals, from SaaS to AI to crypto, with a generalist approach and a selective deployment cadence. The team supports founders through their first institutional round, with a hands-on posture on product positioning and Series A readiness. A patient partner for Canadian founders who value conviction over speed.","fr":"Petit fonds pre-seed et seed basé à Markham, soutenant des startups logicielles à forte croissance pour les marchés nord-américains. Good News mise sur des fondateurs résilients à travers plusieurs verticales tech, du SaaS à l'IA en passant par la crypto. Approche généraliste avec une cadence sélective. L'équipe accompagne des fondateurs en première levée institutionnelle."},"tagline":{"en":"Resilient founders, broad tech bets.","fr":"Fondateurs resilients, paris tech larges."},"valueAdd":{"en":["First-check pre-seed capital","Generalist sector flexibility","Resilient founder backing","Selective deployment pace","GTA founder network"],"fr":["Capital pre-seed premier chèque","Flexibilité sectorielle généraliste","Soutien fondateurs résilients","Cadence de déploiement sélective","Réseau fondateurs Grand Toronto"]},"followOnNarrative":{"en":"Good News writes first cheques at pre-seed and seed and reserves capital to bridge or pro-rata into the Series A when the conviction holds. Founders are expected to keep the partners close on milestones and GTM iterations.","fr":"Good News investit en premier cheque au pre-seed et au seed, et conserve du capital pour bridger ou suivre en pro-rata jusqu'a la Serie A quand la conviction tient. Les fondateurs gardent les partenaires proches des jalons et des iterations GTM."},"keyQuestions":{"en":["What about your founding story tells us you will keep going when this gets hard?","What is the smallest viable wedge into your North American market, and how do you expand from there?","How much runway does this round buy you and what does the next 18-month plan look like?"],"fr":["Qu'est-ce dans votre histoire de fondateur nous dit que vous tiendrez quand ça deviendra difficile?","Quel est le plus petit point d'entrée viable dans votre marché nord-américain, et comment vous étendez-vous ensuite?","Combien de runway ce tour vous achète-t-il et à quoi ressemble le plan des 18 prochains mois?"]},"coInvestors":[],"people":[{"fullName":"Mohan Markandaier","role":"Managing Partner","linkedinURL":"https://ca.linkedin.com/in/mmarkandaier","initials":"MM","avatarBgColor":"#534AB7"},{"fullName":"Marat Mukhamedyarov","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/mukhamedyarov/","initials":"MM","avatarBgColor":"#1D9E75"},{"fullName":"Mona Kung","role":"Partner","linkedinURL":"https://ca.linkedin.com/in/monakung","initials":"MK","avatarBgColor":"#A32D2D"}],"portfolio":[],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.goodnewsventures.com/","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec44","slug":"genesys-capital-management","name":"Genesys Capital Management","type":"VC","conviction":"pure-play","stages":["Series A","Series B+"],"sectors":["Healthtech / Biotech"],"ticket":{"min":1000000,"max":10000000,"currency":"CAD","label":"$1M to $10M CAD"},"leadFollow":"Lead","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2000,"fundSize":{"value":300,"currency":"CAD","vintage":2018},"activity":"Selectif","lastDealDate":"2026-01-15","website":"https://genesyscapital.com","linkedinURL":"https://www.linkedin.com/company/genesys-capital/","logo":"/assets/vc-logos/genesys-capital-management.png?v=4","logoBgColor":"#C47A2F","thesis":{"en":"Pure-play life sciences fund founded in 2000, focused on unmet medical needs. Genesys uses a company co-creation strategy at the early stage, supporting scientific teams from formation through clinical milestones. Fund III, backed by BDC, is the active vehicle. Recent investments include leading the Series B1 round in Enspire DBS Therapy in January 2026. The team brings deep biotech operating experience and a patient capital posture aligned with long therapeutic development cycles.","fr":"Fonds pure-play en sciences de la vie fondé en 2000, axé sur les besoins médicaux non comblés. Genesys utilise une stratégie de co-création d'entreprises au stade early et accompagne les équipes scientifiques dès la formation. Le Fonds III, soutenu par BDC, est le véhicule actif. Investissements récents incluent le tour de Série B1 mené dans Enspire DBS Therapy en janvier 2026."},"tagline":{"en":"Co-building life science companies since 2000.","fr":"Co-batisseur en sciences de la vie depuis 2000."},"valueAdd":{"en":["Life science co-creation","BDC-backed platform","25-year biotech track record","Clinical development guidance","Therapeutics syndicate access"],"fr":["Co-création sciences de la vie","Plateforme soutenue par BDC","25 ans d'historique biotech","Accompagnement développement clinique","Accès syndicats thérapeutiques"]},"followOnNarrative":{"en":"Genesys reserves meaningful capital from Fund III to follow its co-created portfolio through clinical milestones and into Series B and beyond, often alongside Lumira, Versant and BDC. Founders are expected to share clinical and regulatory milestones tightly with the team.","fr":"Genesys conserve un capital significatif dans le Fonds III pour suivre ses participations co-creees jusqu'aux jalons cliniques et au-dela en Serie B, souvent aux cotes de Lumira, Versant et BDC. Les fondateurs partagent etroitement les jalons cliniques et reglementaires avec l'equipe."},"keyQuestions":{"en":["What is the unmet medical need and how does your asset compare to the current standard of care?","How does your preclinical data package read against what a strategic acquirer needs to see?","Are you open to a co-creation model where we help build the company around the science?"],"fr":["Quel est le besoin médical non comblé et comment votre actif se compare au standard de soin actuel?","Comment votre dossier préclinique se lit-il par rapport à ce qu'un acquéreur stratégique veut voir?","Êtes-vous ouverts à un modèle de co-création où nous aidons à bâtir l'entreprise autour de la science?"]},"coInvestors":[{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Lumira Ventures","slug":"lumira-ventures"},{"name":"Versant Ventures","slug":"versant-ventures"},{"name":"Fonds de solidarité FTQ","slug":"fonds-de-solidarite-ftq"},{"name":"Teralys Capital","slug":"teralys-capital"}],"people":[{"fullName":"Damian Lamb","role":"Co-Founder, Managing Director","linkedinURL":"https://www.linkedin.com/in/damian-lamb-genesys/","initials":"DL","avatarBgColor":"#534AB7"},{"fullName":"Jamie Stiff","role":"Managing Director","linkedinURL":"https://www.linkedin.com/in/jamie-stiff/","initials":"JS","avatarBgColor":"#1D9E75"},{"fullName":"Jennifer Williams","role":"Director, Finance and Operations","linkedinURL":"","initials":"JW","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Fusion Pharmaceuticals","sector":"Biotech / Oncology","stage":"Exit (AstraZeneca)","year":2024},{"name":"Profound Medical","sector":"MedTech / MRI Therapy","stage":"Public","year":2018},{"name":"Medicenna Therapeutics","sector":"Biotech / Oncology","stage":"Series A","year":2017},{"name":"Triphase Accelerator","sector":"Biotech / Drug Development","stage":"Growth","year":2020}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.genesyscapital.com/news","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec45","slug":"mackinnon-bennett","name":"MacKinnon, Bennett & Company","type":"VC","conviction":"pure-play","stages":["Series B+"],"sectors":["Climate / Energy"],"ticket":{"min":5000000,"max":25000000,"currency":"CAD","label":"$5M to $25M CAD"},"leadFollow":"Lead","province":["QC"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2007,"fundSize":{"value":145,"currency":"CAD","vintage":2025},"activity":"Selectif","lastDealDate":"2025-10-23","website":"https://www.mkbandco.com","linkedinURL":"https://www.linkedin.com/company/mackinnon-bennett-and-co-/","logo":"/assets/vc-logos/mackinnon-bennett.png?v=4","logoBgColor":"#3B82F6","thesis":{"en":"Montreal-based pure-play cleantech growth equity fund focused on the decarbonization, digitization and electrification of the global economy. Fund III closed in December 2025 at $145M, after a first close of $158M in March 2024. Backed by the Canada Growth Fund, CDPQ, Investissement Quebec and BDC. The team writes meaningful cheques and operates as an active board partner with deep climate-industrial network. MKB suits founders building capital-intensive climate businesses that need patient growth equity from a Canadian lead.","fr":"Fonds montréalais de growth equity pure-play en cleantech, axé sur la décarbonation, la numérisation et l'électrification de l'économie mondiale. Le Fonds III a finalisé son closing en décembre 2025 à 145 M$, après un premier closing à 158 M$ en mars 2024. Soutenu par le Fonds de croissance du Canada, la CDPQ, IQ et BDC. Accompagnement actif et tickets significatifs."},"tagline":{"en":"Decarb growth equity, anchor LPs only.","fr":"Growth equity decarbonation, LPs ancres."},"valueAdd":{"en":["Cleantech growth capital","Anchor LP relationships","Decarb domain depth","Project finance know-how","FR-speaking growth team"],"fr":["Capital de croissance cleantech","Relations LP d'ancrage","Expertise décarbonation","Savoir-faire financement de projet","Équipe croissance francophone"]},"followOnNarrative":{"en":"MKB writes meaningful follow-on cheques into commercial scale rounds and co-invests alongside CGF, CDPQ, IQ and BDC for project-linked equity. Founders are expected to share quarterly KPIs and a credible path to first-of-kind deployment.","fr":"MKB emet des cheques de suivi significatifs sur les tours de scale commercial et co-investit aux cotes du FCC, de la CDPQ, d'IQ et de BDC pour l'equite liee aux projets. Les fondateurs partagent des KPIs trimestriels et un chemin credible vers un premier deploiement commercial."},"keyQuestions":{"en":["What are your unit economics at commercial scale, and where do they break under stress?","How do you bridge from your current pilot to first-of-kind commercial deployment financing?","Which strategic LP, like CGF or CDPQ, becomes your customer or project counterparty?"],"fr":["Quelle est votre économie unitaire à l'échelle commerciale, et où décroche-t-elle sous stress?","Comment passez-vous de votre pilote actuel au financement d'un premier déploiement commercial?","Quel LP stratégique, comme le FCC ou la CDPQ, devient votre client ou contrepartie de projet?"]},"coInvestors":[{"name":"BDC Capital","slug":"bdc-capital"},{"name":"La Caisse (CDPQ)","slug":"la-caisse-cdpq"},{"name":"Investissement Quebec","slug":"investissement-quebec"},{"name":"Canada Growth Fund","slug":"canada-growth-fund"},{"name":"National Bank","slug":"national-bank"},{"name":"Fondaction","slug":"fondaction"},{"name":"FondsFTQ","slug":"fondsftq"}],"people":[{"fullName":"Kenneth MacKinnon","role":"Partner","linkedinURL":"","initials":"KM","avatarBgColor":"#534AB7"},{"fullName":"Antonio Occhionero","role":"Partner","linkedinURL":"","initials":"AO","avatarBgColor":"#1D9E75"},{"fullName":"Chanel Damphousse","role":"Partner","linkedinURL":"","initials":"CD","avatarBgColor":"#A32D2D"},{"fullName":"Jesse Teichman","role":"Partner","linkedinURL":"","initials":"JT","avatarBgColor":"#712B13"}],"portfolio":[{"name":"IEC Holden","sector":"Climate / Energy","stage":"Growth","year":2025},{"name":"Circuit","sector":"Climate / Energy","stage":"Series B","year":2025},{"name":"FLO","sector":"Climate / Energy","stage":"Growth","year":2024},{"name":"CarbiCrete","sector":"Climate / Energy","stage":"Series A","year":2022},{"name":"Raptor Maps","sector":"Climate / Energy","stage":"Series B","year":2022},{"name":"Palmetto","sector":"Climate / Energy","stage":"Growth","year":2022}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.mkbandco.com/portfolio/","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec46","slug":"front-row-ventures","name":"Front Row Ventures","type":"VC","conviction":"generaliste","stages":["Pre-seed"],"sectors":["Generalist (no thesis)"],"ticket":{"min":25000,"max":50000,"currency":"CAD","label":"$25K-$50K"},"leadFollow":"Follow","province":["QC","ON","BC","AB"],"hq":{"city":"Montreal","region":"QC"},"languages":["EN","FR"],"founded":2016,"fundSize":{"value":5.5,"currency":"CAD","vintage":2022},"activity":"Actif","lastDealDate":"2026-02-01","website":"https://frontrow.ventures/","linkedinURL":"https://www.linkedin.com/company/front-row-ventures/","logo":"/assets/vc-logos/front-row-ventures.png?v=4","logoBgColor":"#14B8A6","thesis":{"en":"The first Canadian VC managed by students, founded in 2016 in Montreal. Front Row deploys a $5.5M pan-Canadian fund through $50K SAFE cheques to student-led startups across 24+ campuses in Quebec, Ontario, BC and Alberta. Founding member of the Canadian Startup Capital Association, focused on closing the early-stage gap for student founders. The team operates as a peer-to-peer first cheque, often before institutional seed, and pairs cheques with deep campus mentor networks.","fr":"Premier VC canadien géré par des étudiants, fondé en 2016 à Montréal. Front Row déploie un fonds pancanadien de 5,5 M$ sous forme de SAFE de 50 K$ pour des startups étudiantes sur 24 campus et plus au Québec, en Ontario, en Colombie-Britannique et en Alberta. Membre fondateur de la Canadian Startup Capital Association. Mission de combler le gap early-stage chez les fondateurs étudiants."},"tagline":{"en":"Student founders, first institutional check.","fr":"Fondateurs etudiants, premier cheque institutionnel."},"valueAdd":{"en":["Student founder access","Pan-Canadian campus reach","First SAFE check","CSCA founding member","Early conviction"],"fr":["Accès fondateurs étudiants","Présence pancanadienne sur campus","Premier chèque SAFE","Membre fondateur CSCA","Conviction très tôt"]},"followOnNarrative":{"en":"Front Row's $50K SAFE is a first cheque, not a follow-on vehicle. The team's value is in warm intros to seed leads (Real, Inovia, Panache, BDC) once the company has signal beyond campus.","fr":"Le SAFE de 50 K$ de Front Row est un premier chèque, pas un véhicule de suivi. La valeur de l'équipe tient aux mises en relation chaleureuses avec les leads seed (Real, Inovia, Panache, BDC) une fois la traction prouvée hors campus."},"keyQuestions":{"en":["How will you balance studies and full-time founder commitment?","What does the first 12 months of building look like with a $50K SAFE?","Who are your first 10 design-partner customers and how do you reach them on campus?"],"fr":["Comment équilibrerez-vous études et engagement à temps plein de fondateur?","À quoi ressemblent les 12 premiers mois avec un SAFE de 50 K$?","Qui sont vos 10 premiers clients design partners et comment les atteignez-vous sur les campus?"]},"coInvestors":[{"name":"Real Ventures","slug":"real-ventures"},{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Panache Ventures","slug":"panache-ventures"}],"people":[{"fullName":"Emmanuelle Coppinger","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/emmanuelle-coppinger-6044a325/","initials":"EC","avatarBgColor":"#534AB7"},{"fullName":"Marc Dikranian","role":"Chief of Staff","linkedinURL":"https://www.linkedin.com/in/marcdikranian/","initials":"MD","avatarBgColor":"#1D9E75"},{"fullName":"Saif Ali Javed","role":"Investment Operations Lead","linkedinURL":"https://www.linkedin.com/in/saif-ali-javed/","initials":"SA","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Nomic Bio","sector":"Biotech / Proteomics","stage":"Series A","year":2022},{"name":"Valence Discovery","sector":"AI / Drug Discovery","stage":"Seed","year":2021},{"name":"AWL Electricity","sector":"Energy / Hardware","stage":"Seed","year":2023}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://frontrow.ventures/companies/","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec47","slug":"georgian","name":"Georgian","type":"VC","conviction":"tech-actif","stages":["Series B+"],"sectors":["AI / ML","Cybersecurity","Fintech / Insurtech","SaaS / Vertical SaaS"],"ticket":{"min":20000000,"max":100000000,"currency":"CAD","label":"$20M to $100M CAD"},"leadFollow":"Lead","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2008,"fundSize":{"value":6300,"currency":"CAD","vintage":2022},"activity":"Actif","lastDealDate":"2026-04-16","website":"https://georgian.io","linkedinURL":"https://www.linkedin.com/company/georgian/","logo":"/assets/vc-logos/georgian.png?v=4","logoBgColor":"#EC4899","thesis":{"en":"Georgian invests in market-leading B2B SaaS companies with strong management teams at the growth stage, typically those generating at least US$500K in monthly recurring revenue. The firm specializes in applied AI for SaaS, deploying $20M to $100M per cheque, with Fund VI at US$892M and a complementary Alignment II vehicle. The core value proposition is the Georgian operating platform (R&D Impact Team), which delivers AI, growth and talent playbooks directly embedded with portfolio companies. Built for Series B+ founders who want a Canadian institutional partner capable of leading ambitious growth rounds without forcing them to navigate New York funds.","fr":"Georgian investit dans des entreprises B2B SaaS leaders dans leur marche, dotees d'equipes de gestion solides et au stade de croissance (typiquement 500 K$ US de revenus mensuels recurrents minimum). Specialiste de l'IA appliquee aux SaaS, la firme deploie de 20 M$ a 100 M$ par cheque, avec un Fund VI de 892 M$ US et un vehicule Alignment II complementaire. La proposition de valeur centrale est la plateforme operationnelle Georgian (R&D Impact Team) qui livre des playbooks IA, croissance et talent directement embarques chez les participations. Pour les fondateurs Series B+ qui veulent un partenaire institutionnel canadien capable de mener des rondes de croissance ambitieuses, sans devoir naviguer les fonds new-yorkais."},"tagline":{"en":"Growth capital with an applied-AI playbook.","fr":"Capital de croissance, playbook IA applique."},"valueAdd":{"en":["Applied AI","Growth playbook","R&D Impact Team","Talent platform","Series B lead"],"fr":["IA appliquee","Playbook croissance","Equipe R&D Impact","Plateforme talent","Lead serie B"]},"followOnNarrative":{"en":"Reserves significant follow-on per company and often participates in subsequent growth rounds, occasionally leading Series C with the Alignment vehicle.","fr":"Reserve un follow-on significatif par entreprise et participe souvent aux rondes de croissance subsequentes, menant a l'occasion les series C via le vehicule Alignment."},"keyQuestions":{"en":["What is your Magic Number and how is it trending?","Which AI capability is the next compounding lever for the product?","How does net revenue retention break down by cohort and segment?"],"fr":["Quel est votre Magic Number et comment evolue-t-il?","Quelle capacite IA est le prochain levier de composition pour le produit?","Comment se decompose la retention nette par cohorte et segment?"]},"coInvestors":[{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"OMERS Ventures","slug":"omers-ventures"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Radical Ventures","slug":"radical-ventures"},{"name":"CDPQ","slug":"cdpq"}],"people":[{"fullName":"Justin LaFayette","role":"Co-Founder & Managing Partner","linkedinURL":"https://ca.linkedin.com/in/justin-lafayette-bb43972b","initials":"JL","avatarBgColor":"#534AB7"},{"fullName":"Simon Chong","role":"Co-Founder & Managing Partner","linkedinURL":"https://www.linkedin.com/in/simonchong/","initials":"SC","avatarBgColor":"#1D9E75"},{"fullName":"John Berton","role":"Co-Founder & Managing Partner","linkedinURL":"https://ca.linkedin.com/in/john-berton-6269877","initials":"JB","avatarBgColor":"#A32D2D"},{"fullName":"Emily Walsh","role":"Partner","linkedinURL":"https://ca.linkedin.com/in/emily-walsh-15593a11","initials":"EW","avatarBgColor":"#712B13"}],"portfolio":[{"name":"Shopify","sector":"SaaS / Vertical SaaS","stage":"Series B+","year":2011},{"name":"FreshBooks","sector":"SaaS / Vertical SaaS","stage":"Series B+","year":2014},{"name":"Top Hat","sector":"SaaS / Vertical SaaS","stage":"Series B+","year":2018},{"name":"Tealium","sector":"SaaS / Vertical SaaS","stage":"Series B+","year":2019},{"name":"Coveo","sector":"AI / ML","stage":"Series B+","year":2017}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://georgian.io/","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec48","slug":"metiquity-ventures","name":"Metiquity Ventures","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed"],"sectors":["SaaS / Vertical SaaS","AI / ML","Devtools / Infra"],"ticket":{"min":250000,"max":1000000,"currency":"CAD","label":"$250K-$1M USD"},"leadFollow":"Lead","province":["QC","ON","BC","AB"],"hq":{"city":"Calgary","region":"AB"},"languages":["EN"],"founded":2020,"fundSize":{"value":10,"currency":"CAD","vintage":2021},"activity":"Actif","lastDealDate":"2025-10-01","website":"https://metiquity.ca/","linkedinURL":"https://www.linkedin.com/company/metiquity-ventures/","logo":"/assets/vc-logos/metiquity-ventures.png?v=4","logoBgColor":"#14B8A6","thesis":{"en":"$10M Fund I based in Calgary, exclusively dedicated to pre-seed in B2B SaaS, AI and cloud across Alberta and the Prairies. Founded in 2020 by Bryan Slauko and Jacques LaPointe, Metiquity aims for a portfolio of 20 to 30 companies. The firm is highly active for fast-growing founders looking for a regionally anchored first cheque. The thesis combines tech selectivity with strong Prairie roots, making Metiquity a natural lead for founders who want a local partner with a clear focus on capital efficiency and B2B fundamentals.","fr":"Fonds I de 10 M$ basé à Calgary, exclusivement dédié au pre-seed dans le SaaS B2B, l'IA et le cloud en Alberta et dans les Prairies. Fondé en 2020 par Bryan Slauko et Jacques LaPointe. Metiquity vise 20 à 30 sociétés en portefeuille. Mentionné comme actif sur OpenVC pour les fondateurs en croissance rapide. Approche tech-actif avec ancrage régional fort."},"tagline":{"en":"Alberta pre-seed, B2B software focus.","fr":"Pre-seed albertain, focus logiciel B2B."},"valueAdd":{"en":["Alberta pre-seed conviction","Prairies network","B2B SaaS playbook","First institutional check","Cloud and AI focus"],"fr":["Conviction pre-seed Alberta","Réseau des Prairies","Playbook SaaS B2B","Premier chèque institutionnel","Focus cloud et IA"]},"followOnNarrative":{"en":"Metiquity holds modest reserves given the $10M Fund I size and supports portfolio companies through introductions to A100, Thin Air Labs and BDC for Series A leads. Pro-rata is exercised selectively on top performers.","fr":"Metiquity conserve des reserves modestes vu la taille du Fonds I (10 M$) et accompagne ses participations via des intros vers A100, Thin Air Labs et BDC pour les leads de Serie A. Le pro rata est exerce selectivement sur les meilleures performances."},"keyQuestions":{"en":["How do you reach $1M ARR with a lean Alberta-based team?","What is your wedge into a specific buyer persona?","How does Prairies geography help or hurt your enterprise sales motion?"],"fr":["Comment atteignez-vous 1 M$ d'ARR avec une équipe albertaine légère?","Quelle est votre porte d'entrée auprès d'un persona acheteur précis?","En quoi la géographie des Prairies aide ou freine votre motion de vente entreprise?"]},"coInvestors":[{"name":"Accelerate Fund III","slug":"accelerate-fund-iii"},{"name":"A100 Investments","slug":"a100-investments"},{"name":"Thin Air Labs","slug":"thin-air-labs"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Valhalla Private Capital","slug":"valhalla-private-capital"}],"people":[{"fullName":"Bryan Slauko","role":"Founding Partner","linkedinURL":"https://www.linkedin.com/in/bryanslauko/","initials":"BS","avatarBgColor":"#534AB7"},{"fullName":"Jacques LaPointe","role":"Founding Partner","linkedinURL":"https://www.linkedin.com/in/jacques-lapointe-b16ba81/","initials":"JL","avatarBgColor":"#1D9E75"}],"portfolio":[{"name":"WaitWell","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2021},{"name":"Mastrius","sector":"SaaS / Vertical SaaS","stage":"Pre-seed","year":2022},{"name":"Black Owl Systems","sector":"SaaS / Vertical SaaS","stage":"Pre-seed","year":2024},{"name":"Bidaya AI","sector":"AI / ML","stage":"Pre-seed","year":2024},{"name":"Quack","sector":"SaaS / Vertical SaaS","stage":"Pre-seed","year":2025}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://metiquity.ca/Team","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec49","slug":"greensky-ventures","name":"GreenSky Ventures","type":"VC","conviction":"tech-actif","stages":["Seed","Series A"],"sectors":["AI / ML","Climate / Energy","Cybersecurity","Fintech / Insurtech","Healthtech / Biotech","Devtools / Infra","Deeptech / Hardware","SaaS / Vertical SaaS","Marketplace / Consumer"],"ticket":{"min":250000,"max":1500000,"currency":"CAD","label":"$250k to $1.5M CAD"},"leadFollow":"Both","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2010,"fundSize":{"value":23.5,"currency":"CAD","vintage":2025},"activity":"Actif","lastDealDate":"2026-04-07","website":"https://greensky.vc","linkedinURL":"https://www.linkedin.com/company/greenskyventures/","logo":"/assets/vc-logos/greensky-ventures.png?v=4","logoBgColor":"#3B82F6","thesis":{"en":"Toronto-based fund investing at the early stage in Canadian technology companies with measurable impact on existing B2B value chains. GreenSky concentrates conviction on a small number of high-conviction companies. Fund VI closed in July 2025 at $23.5M, the firm's largest vehicle to date. The arrival of managing partner Jeff Brunet has reinforced the franchise. The team is selective and operationally engaged, suitable for founders attacking established B2B verticals with a clear value-chain disruption playbook.","fr":"Fonds torontois investissant en early-stage dans des entreprises technologiques canadiennes ayant un impact mesurable sur les chaînes de valeur B2B existantes. GreenSky concentre les paris sur des sociétés à haute conviction. Le Fonds VI a clôturé en juillet 2025 à 23,5 M$, leur plus grand véhicule à ce jour. L'arrivée du managing partner Jeff Brunet renforce la franchise."},"tagline":{"en":"High-conviction bets in B2B value chains.","fr":"Paris a haute conviction sur le B2B."},"valueAdd":{"en":["B2B value chain expertise","High-conviction concentration","Operator-led diligence","Toronto founder network","Cross-stage support"],"fr":["Expertise chaînes de valeur B2B","Concentration haute conviction","Diligence menée par opérateurs","Réseau fondateurs Toronto","Soutien multi-stade"]},"followOnNarrative":{"en":"GreenSky concentrates Fund VI in a small number of conviction bets, with reserves kept to follow winners into Series A alongside BDC, Golden and MaRS IAF. Founders are expected to share quarterly KPI updates with the partners.","fr":"GreenSky concentre le Fonds VI sur un petit nombre de paris a haute conviction, en gardant des reserves pour suivre les meilleures participations en Serie A aux cotes de BDC, Golden et MaRS IAF. Les fondateurs partagent un suivi trimestriel avec les partenaires."},"keyQuestions":{"en":["Which incumbent in your B2B value chain is most threatened, and how does your wedge land?","What measurable impact have your first customers seen, with hard numbers?","Why are we one of the few funds that should have high conviction here?"],"fr":["Quel acteur en place dans votre chaîne de valeur B2B est le plus menacé, et comment votre point d'entrée atterrit?","Quel impact mesurable vos premiers clients ont-ils constaté, avec des chiffres concrets?","Pourquoi sommes-nous l'un des rares fonds à devoir avoir une haute conviction ici?"]},"coInvestors":[{"name":"BDC Capital","slug":"bdc-capital"},{"name":"ABB","slug":"abb"},{"name":"MaRS IAF","slug":"mars-iaf"},{"name":"Golden Ventures","slug":"golden-ventures"},{"name":"Royal Bank of Canada","slug":"royal-bank-of-canada"}],"people":[{"fullName":"Michael T. R. List","role":"Founder & Managing Partner","linkedinURL":"https://www.linkedin.com/in/mike-list-31957929/","initials":"MT","avatarBgColor":"#534AB7"},{"fullName":"Jeff Brunet","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/jeffbrunet/","initials":"JB","avatarBgColor":"#1D9E75"},{"fullName":"Marian Hoffmann","role":"Managing Partner","linkedinURL":"","initials":"MH","avatarBgColor":"#A32D2D"},{"fullName":"Greg Stewart","role":"Partner","linkedinURL":"","initials":"GS","avatarBgColor":"#712B13"},{"fullName":"Valdis Martinsons","role":"Partner","linkedinURL":"","initials":"VM","avatarBgColor":"#0EA5E9"},{"fullName":"Neil Peet","role":"Partner","linkedinURL":"","initials":"NP","avatarBgColor":"#F59E0B"},{"fullName":"Moien Giashi","role":"Principal","linkedinURL":"","initials":"MG","avatarBgColor":"#EC4899"},{"fullName":"Justin Dunnion","role":"Associate","linkedinURL":"https://www.linkedin.com/in/justindunnion/","initials":"JD","avatarBgColor":"#14B8A6"}],"portfolio":[{"name":"Edgecom Energy","sector":"Climate / Energy","stage":"Seed","year":2024},{"name":"PhenoTips","sector":"Healthtech / Biotech","stage":"Seed","year":2025},{"name":"BioAlert Solutions","sector":"Cleantech / Watertech","stage":"Seed","year":2024},{"name":"Rivr","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2024},{"name":"Brickeye","sector":"IoT / Hardware","stage":"Series A","year":2023},{"name":"ProNavigator","sector":"Fintech / Insurtech","stage":"Series A","year":2022},{"name":"Direct-C","sector":"IoT / Hardware","stage":"Seed","year":2023}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://greensky.vc/","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec50","slug":"portage-ventures","name":"Portage Ventures","type":"VC","conviction":"pure-play","stages":["Seed","Series A","Series B+"],"sectors":["Fintech / Insurtech"],"ticket":{"min":1000000,"max":25000000,"currency":"CAD","label":"$1M-$25M"},"leadFollow":"Lead","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN","FR"],"founded":2016,"fundSize":{"value":850,"currency":"CAD","vintage":2021},"activity":"Tres actif","lastDealDate":"2026-04-29","website":"https://portageinvest.com/","linkedinURL":"https://www.linkedin.com/company/portageinvest","logo":"/assets/vc-logos/portage-ventures.png?v=4","logoBgColor":"#1D9E75","thesis":{"en":"Specialized fintech platform within Sagard (a Power Corporation subsidiary). Portage Ventures is highly active from seed through growth in financial services, insurance and fintech infrastructure. Co-founded by Adam Felesky and Paul Desmarais III, the firm manages $5.7B in assets, including a Fund III closed at US$616M plus late-stage and capital solutions vehicles. Portage takes the lead, deploys cheques from $1M to $25M, and supports founders with an exceptional institutional network (banks, insurers, asset managers). Offices in Toronto, Montreal, New York, San Francisco and Paris make it a natural partner for fintech founders targeting transatlantic expansion.","fr":"Plateforme fintech specialisee au sein de Sagard (filiale de Power Corporation), Portage Ventures est tres active du seed jusqu'au stade de croissance dans les services financiers, l'assurance et l'infrastructure fintech. Cofondee par Adam Felesky et Paul Desmarais III, la firme gere 5,7 G$ d'actifs, dont un Fund III ferme a 616 M$ US et des vehicules late-stage et capital solutions. Portage prend le lead, deploie de 1 M$ a 25 M$, et appuie ses fondateurs avec un reseau institutionnel exceptionnel (banques, assureurs, gestionnaires d'actifs). Bureaux a Toronto, Montreal, New York, San Francisco et Paris, ce qui en fait un partenaire naturel pour les fondateurs fintech qui visent une expansion transatlantique."},"tagline":{"en":"Fintech specialist with Power's institutional reach.","fr":"Specialiste fintech, force de Power Corporation."},"valueAdd":{"en":["Fintech network","Power Corp ties","Regulatory advisory","Bank intros","Transatlantic reach"],"fr":["Reseau fintech","Liens Power Corp","Conseil reglementaire","Intros bancaires","Portee transatlantique"]},"followOnNarrative":{"en":"Multi-stage platform follows from seed through Series C via dedicated capital solutions and continuation vehicles, including a 2026 vintage.","fr":"Plateforme multi-stade qui suit du seed jusqu'a la serie C via des vehicules capital solutions et continuation dedies, incluant un millesime 2026."},"keyQuestions":{"en":["Which regulated entity charter or partnership unlocks scale?","What is your CAC payback for the regulated customer segment?","How does your unit economics improve once a Tier 1 bank distributes you?"],"fr":["Quel agrement reglementaire ou partenariat debloque la scale?","Quel est votre payback CAC pour le segment client regule?","Comment vos unit economics evoluent quand une banque Tier 1 vous distribue?"]},"coInvestors":[{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"OMERS Ventures","slug":"omers-ventures"},{"name":"Diagram Ventures","slug":"diagram-ventures"},{"name":"FT Partners","slug":"ft-partners"}],"people":[{"fullName":"Adam Felesky","role":"Co-Founder & CEO","linkedinURL":"https://ca.linkedin.com/in/adam-felesky-3212b340","initials":"AF","avatarBgColor":"#534AB7"},{"fullName":"Paul Desmarais III","role":"Co-Founder & Chairman","linkedinURL":"https://ca.linkedin.com/in/pauldesmaraisiii","initials":"PD","avatarBgColor":"#1D9E75"},{"fullName":"Stephanie Choo","role":"General Partner","linkedinURL":"https://www.linkedin.com/in/stephanie-choo/","initials":"SC","avatarBgColor":"#A32D2D"},{"fullName":"Devon Kirk","role":"General Partner","linkedinURL":"https://ca.linkedin.com/in/devon-kirk-734a353","initials":"DK","avatarBgColor":"#712B13"}],"portfolio":[{"name":"Cata","sector":"Fintech / Insurtech","stage":"Seed","year":2026},{"name":"Novisto","sector":"Fintech / Insurtech","stage":"Series C","year":2025},{"name":"Conduit","sector":"Fintech / Insurtech","stage":"Series A","year":2025},{"name":"OatFi","sector":"Fintech / Insurtech","stage":"Series A","year":2025},{"name":"Tilt","sector":"Fintech / Insurtech","stage":"Seed","year":2025},{"name":"Koho","sector":"Fintech / Insurtech","stage":"Series D+","year":2023},{"name":"Nesto","sector":"Fintech / Insurtech","stage":"Growth","year":2024}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://portageinvest.com/","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec51","slug":"vistara-growth","name":"Vistara Growth","type":"VC","conviction":"tech-actif","stages":["Series B+"],"sectors":["Generalist (no thesis)"],"ticket":{"min":10000000,"max":50000000,"currency":"CAD","label":"$10M-$50M"},"leadFollow":"Lead","province":["BC"],"hq":{"city":"Vancouver","region":"BC"},"languages":["EN"],"founded":2015,"fundSize":{"value":450,"currency":"CAD","vintage":2025},"activity":"Tres actif","lastDealDate":"2026-01-27","website":"https://vistaragrowth.com/","linkedinURL":"https://www.linkedin.com/company/vistara-growth/","logo":"/assets/vc-logos/vistara-growth.png?v=4","logoBgColor":"#8B5CF6","thesis":{"en":"Vistara Growth provides flexible growth capital solutions (debt, convertible debt, structured equity and combinations) to mid-to-late-stage technology companies across North America. Cheques of $10M to $50M, with a hybrid debt-equity approach positioned between traditional venture debt and growth equity. Fund V closed at US$321M (~$450M CAD) in November 2025, with 8 of 15-18 planned deals already executed. Vistara serves disciplined founders (predictable recurring revenue, healthy margins) seeking growth capital without the dilution of a traditional equity round.","fr":"Vistara Growth offre des solutions de capital de croissance flexibles (dette, dette convertible, equity structure et combinaisons) aux entreprises tech mid-late stage en Amerique du Nord. Cheques de 10 M$ a 50 M$, avec une approche hybride debt-equity qui se positionne entre le venture debt classique et le growth equity. Fund V a ferme a 321 M$ US (environ 450 M$ CA) en novembre 2025, avec 8 des 15 a 18 deals planifies deja realises. Vistara s'adresse aux fondateurs disciplines (revenus recurrents predictibles, marges saines) qui cherchent du capital de croissance sans la dilution d'une ronde equity classique."},"tagline":{"en":"Hybrid growth capital, structured for founders.","fr":"Capital de croissance hybride, structure pour fondateurs."},"valueAdd":{"en":["Flexible structure","Speed to close","Minimal dilution","Bridge to profit","M&A financing"],"fr":["Structure flexible","Closing rapide","Dilution minimale","Pont vers profit","Financement M&A"]},"followOnNarrative":{"en":"Capital can be upsized over the life of the facility as ARR grows, and Vistara often participates in subsequent equity rounds with hybrid tranches.","fr":"Le capital peut etre augmente au cours de la facilite a mesure que l'ARR croit, et Vistara participe souvent aux rondes equity subsequentes avec des tranches hybrides."},"keyQuestions":{"en":["What is your Rule of 40 and how is it trending quarter over quarter?","How sensitive is your model to a 12-month delay in growth spend?","What contractual covenants are you comfortable carrying?"],"fr":["Quel est votre Rule of 40 et comment evolue-t-il trimestre par trimestre?","Quelle est la sensibilite du modele a un retard de 12 mois sur la depense de croissance?","Quels covenants contractuels etes-vous a l'aise de porter?"]},"coInvestors":[{"name":"Espresso Capital","slug":"espresso-capital"},{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Yaletown Partners","slug":"yaletown-partners"},{"name":"OMERS Ventures","slug":"omers-ventures"}],"people":[{"fullName":"Randy Garg","role":"Founder & Managing Partner","linkedinURL":"https://www.linkedin.com/in/randygarg/","initials":"RG","avatarBgColor":"#534AB7"},{"fullName":"Noah Shipman","role":"Partner","linkedinURL":"https://www.linkedin.com/in/noah-shipman-80b8294/","initials":"NS","avatarBgColor":"#1D9E75"},{"fullName":"John O'Donoghue","role":"Partner","linkedinURL":"https://www.linkedin.com/in/johnodonoghuecfa/","initials":"JO","avatarBgColor":"#A32D2D"},{"fullName":"Neil Kenley","role":"Partner","linkedinURL":"https://www.linkedin.com/in/neilkenley/","initials":"NK","avatarBgColor":"#712B13"}],"portfolio":[{"name":"Kore.ai","sector":"AI / ML","stage":"Series B+","year":2026},{"name":"Matic","sector":"Fintech / Insurtech","stage":"Series B+","year":2025},{"name":"Tendo","sector":"Healthtech / Biotech","stage":"Series B+","year":2025},{"name":"Clariti Cloud","sector":"SaaS / Vertical SaaS","stage":"Series B+","year":2025},{"name":"Authentic8","sector":"Cybersecurity","stage":"Series B+","year":2025},{"name":"Klue","sector":"SaaS / Vertical SaaS","stage":"Series B+","year":2022},{"name":"Hopper","sector":"Marketplace / Consumer","stage":"Series B+","year":2021}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://vistaragrowth.com/vistara-news/vistara-growth-fund-v-final-close-2025/","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec52","slug":"two-small-fish-ventures","name":"Two Small Fish Ventures","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed","Series A"],"sectors":["AI / ML","Deeptech / Hardware","Devtools / Infra","SaaS / Vertical SaaS"],"ticket":{"min":500000,"max":2000000,"currency":"CAD","label":"$500k to $2M CAD"},"leadFollow":"Both","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2014,"fundSize":{"value":40,"currency":"CAD","vintage":2024},"activity":"Actif","lastDealDate":"2026-02-20","website":"https://twosmallfish.vc/","linkedinURL":"https://ca.linkedin.com/company/two-small-fish-ventures","logo":"/assets/vc-logos/two-small-fish-ventures.png?v=4","logoBgColor":"#3B82F6","thesis":{"en":"Two Small Fish Ventures is a Toronto-based deep tech seed fund led by Eva Lau (Wattpad co-founder) and Allen Lau. Fund III closed at $30M USD (approximately $40M CAD) focused on the next frontier of computing: AI, semiconductors, robotics and related applications. Portfolio of 44 companies includes SkipTheDishes, Ada, Jiffy and Applied Brain Research. Active investor backing technical founders very early with operator empathy from a serial founder background.","fr":"Two Small Fish Ventures est un fonds seed deeptech torontois mené par Eva Lau (co-fondatrice de Wattpad) et Allen Lau. Le Fonds III a clôturé à 30 M$ US (environ 40 M$ CAD) sur la prochaine frontière du computing : IA, semi-conducteurs, robotique et applications associées. Portefeuille de 44 entreprises incluant SkipTheDishes, Ada, Jiffy et Applied Brain Research. Investisseur actif qui appuie tôt des fondateurs techniques avec une empathie d'opérateur issue d'un parcours de fondateur en série."},"tagline":{"en":"Toronto deeptech seed, Wattpad alum-led.","fr":"Seed deeptech torontois, mené par les fondateurs de Wattpad."},"valueAdd":{"en":["Wattpad operator experience","Network effects expertise","Deep tech sector depth","Female-led GP","Toronto and US connectivity"],"fr":["Expérience opérateur Wattpad","Expertise effets de réseau","Profondeur secteur deeptech","GP femme","Connectivité Toronto et US"]},"followOnNarrative":{"en":"Two Small Fish keeps reserves to double down on conviction bets through Series A and frequently co-invests with Inovia, Golden Ventures, Version One and US deep tech specialists. Operator-led support continues through follow-on rounds.","fr":"Two Small Fish conserve des reserves pour suivre ses paris de conviction jusqu'en Serie A et co-investit frequemment avec Inovia, Golden Ventures, Version One et des specialistes deep tech americains. L'accompagnement operateur se poursuit a travers les tours subsequents."},"keyQuestions":{"en":["What is the network effect or compounding moat embedded in your technical architecture?","How does your roadmap exploit the current shift in computing (AI, semiconductors, robotics)?","What would a Wattpad-style scaling playbook look like for your business?"],"fr":["Quel effet de réseau ou fondé sur la composition est ancré dans votre architecture technique?","Comment votre feuille de route exploite-t-elle le virage actuel du computing (IA, semi-conducteurs, robotique)?","À quoi ressemblerait un playbook de scaling à la Wattpad appliqué à votre business?"]},"coInvestors":[{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"Golden Ventures","slug":"golden-ventures"},{"name":"Version One Ventures","slug":"version-one-ventures"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"RBCx","slug":"rbcx"}],"people":[{"fullName":"Eva Lau","role":"Co-founder & General Partner","linkedinURL":"https://ca.linkedin.com/in/evalau","initials":"EL","avatarBgColor":"#534AB7"},{"fullName":"Allen Lau","role":"Co-founder & General Partner","linkedinURL":"","initials":"AL","avatarBgColor":"#1D9E75"},{"fullName":"Brandon Zhao","role":"Partner","linkedinURL":"https://www.linkedin.com/in/brandon-zhao-a3086926/","initials":"BZ","avatarBgColor":"#A32D2D"},{"fullName":"Albert Chen","role":"Venture Partner","linkedinURL":"https://www.linkedin.com/in/albert-chen-4599055/","initials":"AC","avatarBgColor":"#712B13"},{"fullName":"Mikayla Wronko","role":"Associate","linkedinURL":"","initials":"MW","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"Haply Robotics","sector":"Deeptech / Hardware","stage":"Seed","year":2026},{"name":"Axiomatic AI","sector":"AI / ML","stage":"Seed","year":2026},{"name":"Applied Brain Research","sector":"Deeptech / Hardware","stage":"Seed","year":2025},{"name":"Futuri Power","sector":"Climate / Energy","stage":"Seed","year":2025},{"name":"EnvGo","sector":"Climate / Energy","stage":"Seed","year":2025},{"name":"Ada","sector":"AI / ML","stage":"Series A","year":2017}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://twosmallfish.vc/companies","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec53","slug":"trellis-capital","name":"Trellis Capital","type":"VC","conviction":"tech-actif","stages":["Seed","Series A"],"sectors":["Deeptech / Hardware","Climate / Energy","Devtools / Infra"],"ticket":{"min":500000,"max":2000000,"currency":"CAD","label":"$0.5M-$2M"},"leadFollow":"Both","province":["QC","ON","BC","AB"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2000,"fundSize":null,"activity":"Dormant","lastDealDate":"2017-07-19","website":"https://www.trelliscapital.ca/","linkedinURL":"https://ca.linkedin.com/company/trellis-capital-corporation","logo":"/assets/vc-logos/trellis-capital.png?v=4","logoBgColor":"#3B82F6","thesis":{"en":"Toronto VC historically active in industrial, manufacturing, clean energy and IT infrastructure. Led by Dominic Talalla and founder Sunil Selby, Trellis has not shown a new visible deal since 2017 and appears largely dormant. Last notable exit was iS5 Communications in 2022. Portfolio also includes Flybits, Rank Software and Sciemetric. Included in the directory for traceability, but deployment pace is very slow and the team is unlikely to lead a fresh round in the near term.","fr":"VC torontois historiquement actif dans l'industriel, la fabrication, l'énergie propre et l'infrastructure IT. Trellis n'a pas de nouveau deal visible depuis 2017 et apparaît largement dormant. Dernière sortie marquante : iS5 Communications en 2022. Inclus dans le directory pour traçabilité, mais le rythme de déploiement est très ralenti."},"tagline":{"en":"Industrial and cleantech, dormant veteran.","fr":"Industriel et cleantech, vétéran dormant."},"valueAdd":{"en":["Industrial domain history","Cleantech experience","Toronto network","IT infra background","Long-cycle perspective"],"fr":["Historique industriel","Expérience cleantech","Réseau torontois","Bagage infra TI","Perspective long cycle"]},"followOnNarrative":{"en":"No new investments visible since 2017 and no public reserve guidance. Founders should not plan around Trellis as a follow-on source and should rely on other syndicate leads for Series A and beyond.","fr":"Aucun nouvel investissement visible depuis 2017 et aucune politique de reserves publique. Les fondateurs ne devraient pas compter sur Trellis comme source de follow-on et doivent prevoir d'autres leads de syndicat pour la Serie A et au-dela."},"keyQuestions":{"en":["Why is now the right re-entry moment for an industrial or cleantech investor?","What signals show your category is finally ready for venture-scale returns?","How does your team navigate long industrial sales cycles efficiently?"],"fr":["Pourquoi est-ce le bon moment pour un retour en industriel ou cleantech?","Quels signaux montrent que votre catégorie est enfin prête pour des rendements VC?","Comment votre équipe gère-t-elle efficacement les cycles de vente industriels longs?"]},"coInvestors":[],"people":[{"fullName":"Dominic Talalla","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/dominic-talalla-2606b919/","initials":"DT","avatarBgColor":"#534AB7"},{"fullName":"Sunil Selby","role":"Managing Partner & Founder","linkedinURL":"https://www.linkedin.com/in/sunilselby/","initials":"SS","avatarBgColor":"#1D9E75"},{"fullName":"Michel Rual","role":"General Manager","linkedinURL":"https://www.linkedin.com/in/michel-rual-ba6676121/","initials":"MR","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"iS5 Communications","sector":"Devtools / Infra","stage":"Series B+","year":2018},{"name":"Flybits","sector":"SaaS / Vertical SaaS","stage":"Series B+","year":2018},{"name":"Rank Software","sector":"Cybersecurity","stage":"Series A","year":2017},{"name":"Sciemetric","sector":"Deeptech / Hardware","stage":"Growth","year":2016}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.trelliscapital.ca/","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec54","slug":"maple-leaf-angels","name":"Maple Leaf Angels","type":"Angel","conviction":"generaliste","stages":["Pre-seed","Seed"],"sectors":["SaaS / Vertical SaaS","AI / ML","Cybersecurity","Healthtech / Biotech","Devtools / Infra"],"ticket":{"min":250000,"max":1000000,"currency":"CAD","label":"$250k to $1M CAD syndicate"},"leadFollow":"Both","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2007,"fundSize":null,"activity":"Selectif","lastDealDate":"2025-03-03","website":"https://mapleleafangels.com/","linkedinURL":"https://ca.linkedin.com/company/mapleleafangels","logo":"/assets/vc-logos/maple-leaf-angels.png?v=4","logoBgColor":"#F59E0B","thesis":{"en":"Maple Leaf Angels (MLA) is Toronto's largest angel investor network, founded in 2007 as a not-for-profit membership organization that connects accredited investors with seed and early-stage tech founders. Members write cheques of $250k to $1M per opportunity through MLA syndicates. 49 co-investors have participated in MLA portfolio rounds. 25 companies in portfolio with 7 exits to date. Notable investments include Nicoya Life, Cybeats, OnCall and EmergConnect (2025 seed alongside AQC Capital and Leva Capital). MLA partners closely with York Angel Investors and Capital Angel Network on Ontario-wide deal flow.","fr":"Maple Leaf Angels (MLA) est le plus grand réseau d'investisseurs anges de Toronto, fondé en 2007 comme organisation à but non lucratif à adhésion qui connecte des investisseurs accrédités avec des fondateurs tech seed et early-stage. Les membres émettent des chèques de 250 k$ à 1 M$ par opportunité via les syndicats MLA. 49 co-investisseurs ont participé aux tours du portefeuille MLA. 25 entreprises en portefeuille et 7 sorties à ce jour. Investissements notables : Nicoya Life, Cybeats, OnCall et EmergConnect (seed 2025 aux côtés d'AQC Capital et Leva Capital). MLA est en partenariat étroit avec York Angel Investors et Capital Angel Network sur le deal flow ontarien."},"tagline":{"en":"Toronto's largest angel investor network.","fr":"Le plus grand réseau d'investisseurs anges de Toronto."},"valueAdd":{"en":["Largest Toronto angel network (since 2007)","$250k to $1M syndicate cheques","49 co-investor breadth","Ontario partnership with York Angels and CAN","B2B tech focus"],"fr":["Plus grand réseau d'anges torontois (depuis 2007)","Chèques syndiqués 250 k$ à 1 M$","49 co-investisseurs","Partenariat Ontario avec York Angels et CAN","Focus tech B2B"]},"followOnNarrative":{"en":"MLA syndicates can re-up at the next round through member top-ups and partner networks (York Angels, CAN), but no fund-level reserves: institutional VC leads are expected to drive Series A. Plan early for that handoff.","fr":"Les syndicats MLA peuvent remettre au tour suivant via les rallonges des membres et les reseaux partenaires (York Angels, CAN), mais sans reserves au niveau d'un fonds: un lead VC institutionnel est attendu pour la Serie A. Anticiper ce relais des le seed."},"keyQuestions":{"en":["Have you mapped which MLA members or co-investors have the operating background to add real value?","Are you ready for a syndicate of 5+ angels (governance, info rights, communication cadence)?","Which Ontario angel groups (MLA, York, CAN) are you approaching in parallel, and how do you sequence them?"],"fr":["Avez-vous identifié quels membres MLA ou co-investisseurs ont le profil d'opérateur capable d'ajouter de la valeur?","Êtes-vous prêt à gérer un syndicat de 5+ anges (gouvernance, droits d'information, cadence de communication)?","Quels groupes d'anges ontariens (MLA, York, CAN) approchez-vous en parallèle, et comment les séquencez-vous?"]},"coInvestors":[{"name":"York Angel Investors","slug":"york-angel-investors"},{"name":"Capital Angel Network","slug":"capital-angel-network"},{"name":"AQC Capital","slug":"aqc-capital"},{"name":"Leva Capital","slug":"leva-capital"},{"name":"BDC Capital","slug":"bdc-capital"}],"people":[{"fullName":"Emily Porta","role":"Executive Director","linkedinURL":"","initials":"EP","avatarBgColor":"#534AB7"}],"portfolio":[{"name":"EmergConnect","sector":"Healthtech / Biotech","stage":"Seed","year":2025},{"name":"Nicoya Life","sector":"Healthtech / Biotech","stage":"Seed","year":null},{"name":"Cybeats","sector":"Cybersecurity","stage":"Seed","year":null},{"name":"OnCall","sector":"SaaS / Vertical SaaS","stage":"Seed","year":null}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://mapleleafangels.com/about/","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec55","slug":"relentless-venture-fund","name":"Relentless Venture Fund","type":"VC","conviction":"pure-play","stages":["Seed","Series A"],"sectors":["AI / ML","Healthtech / Biotech","SaaS / Vertical SaaS"],"ticket":{"min":250000,"max":1500000,"currency":"CAD","label":"$250k to $1.5M CAD"},"leadFollow":"Both","province":["BC"],"hq":{"city":"Vancouver","region":"BC"},"languages":["EN"],"founded":2014,"fundSize":{"value":10,"currency":"CAD","vintage":2018},"activity":"Selectif","lastDealDate":"2024-09-24","website":"https://relentlesspursuitpartners.com","linkedinURL":"https://www.linkedin.com/company/relentless-venture-fund/","logo":"/assets/vc-logos/relentless-venture-fund.png?v=4","logoBgColor":"#F59E0B","thesis":{"en":"Women-founded healthtech fund based in Vancouver with Vancity as founding institutional LP. Relentless invests in leading-edge clinical research and technologies that optimize access to care and manage health risk factors through prevention and treatment of chronic conditions, particularly those associated with aging. Strategic partnership with Providence Health Care Ventures concluded in 2026. The firm pairs clinical credibility with a patient capital approach for founders building deeply science-anchored healthcare businesses.","fr":"Fonds healthtech fondé par des femmes, basé à Vancouver, dont Vancity est le LP institutionnel fondateur. Relentless investit dans la recherche clinique de pointe et les technologies qui optimisent l'accès aux soins et la prévention des maladies chroniques liées au vieillissement. Partenariat stratégique avec Providence Health Care Ventures conclu en 2026."},"tagline":{"en":"Healthy aging, clinically proven.","fr":"Vieillir en sante, valide cliniquement."},"valueAdd":{"en":["Healthy aging specialist","Female-led GP team","Vancity LP anchor","Providence Health partnership","Clinical validation network"],"fr":["Spécialiste vieillissement en santé","Équipe GP dirigée par des femmes","Ancrage LP Vancity","Partenariat Providence Health","Réseau de validation clinique"]},"followOnNarrative":{"en":"Relentless follows on into priced rounds with specialist healthcare co-investors such as Perceptive Advisors and Aphelion Capital, and leans on its clinical network to validate progress. Follow-on conviction depends on clinical milestones and payer or provider traction.","fr":"Relentless suit dans les tours priced avec des co-investisseurs specialises sante comme Perceptive Advisors et Aphelion Capital, et s'appuie sur son reseau clinique pour valider la progression. La conviction de suivi depend des jalons cliniques et de la traction payeur ou prestataire."},"keyQuestions":{"en":["What clinical evidence supports your claim on chronic condition prevention or management?","How does Providence Health Care or another health system become your first paid validation site?","What is your reimbursement and payer story for an aging population?"],"fr":["Quelle preuve clinique soutient votre revendication sur la prévention ou la gestion des maladies chroniques?","Comment Providence Health Care ou un autre système de santé devient-il votre premier site de validation payé?","Quelle est votre histoire de remboursement et de payeur pour une population vieillissante?"]},"coInvestors":[{"name":"Perceptive Advisors","slug":"perceptive-advisors"},{"name":"Aphelion Capital","slug":"aphelion-capital"},{"name":"PHC Ventures","slug":"phc-ventures"},{"name":"BDC Capital","slug":"bdc-capital"}],"people":[{"fullName":"Brenda Irwin","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/brendairwin/","initials":"BI","avatarBgColor":"#534AB7"},{"fullName":"Isabella Bertold","role":"Senior Associate","linkedinURL":"https://www.linkedin.com/in/isabella-bertold/","initials":"IB","avatarBgColor":"#1D9E75"},{"fullName":"Denis Ho","role":"Venture Partner","linkedinURL":"","initials":"DH","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Orpyx Medical","sector":"Healthtech / Biotech","stage":"Series B+","year":2024},{"name":"Canary Medical","sector":"Healthtech / Biotech","stage":"Growth","year":null},{"name":"Aspect Biosystems","sector":"Healthtech / Biotech","stage":"Growth","year":null},{"name":"Modality AI","sector":"AI / ML","stage":"Seed","year":null},{"name":"Thrive Health","sector":"Healthtech / Biotech","stage":"Series A","year":null},{"name":"VitaminLab","sector":"Healthtech / Biotech","stage":"Seed","year":null},{"name":"TritonWear","sector":"Healthtech / Biotech","stage":"Seed","year":null}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.relentlesspursuitpartners.com/portfolio","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec56","slug":"the51","name":"The51","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed","Series A"],"sectors":["Climate / Energy","Healthtech / Biotech","SaaS / Vertical SaaS","AI / ML","Marketplace / Consumer"],"ticket":{"min":250000,"max":1500000,"currency":"CAD","label":"$250k to $1.5M CAD"},"leadFollow":"Both","province":["AB","BC","ON","QC","MB","SK"],"hq":{"city":"Calgary","region":"AB"},"languages":["EN"],"founded":2019,"fundSize":{"value":51,"currency":"CAD","vintage":2024},"activity":"Tres actif","lastDealDate":"2026-02-01","website":"https://the51.com/","linkedinURL":"https://ca.linkedin.com/company/the51","logo":"/assets/vc-logos/the51.png?v=4","logoBgColor":"#EC4899","thesis":{"en":"The51 is Canada's largest women-led financial platform and venture firm, founded in 2019 in Calgary. Closed its $51M CAD Food and AgTech Fund in late 2024 (ATB Financial completed final dollar). 52 investments to date, with latest in NLPatent Seed VC II on September 1, 2025. Operates across early-stage venture, real estate alternatives and emerging assets. Goal by 2030 to activate $2.5B of women-led capital alongside its nonprofit partner Movement51. General Partners: Shelley Kuipers and Judy Fairburn (co-founders), plus Lauren Robinson (Fund Managing Partner since March 2025). Notable exit: Virtual Gurus November 2025.","fr":"The51 est la plus grande plateforme financière et société de venture menée par des femmes au Canada, fondée en 2019 à Calgary. Le Fonds Food and AgTech de 51 M$ CAD a été clôturé fin 2024 (ATB Financial a bouclé le dernier dollar). 52 investissements à ce jour, avec le plus récent dans NLPatent (Seed VC II, 1er septembre 2025). Opère en venture early-stage, alternatives immobilières et actifs émergents. Cible 2030 : activer 2,5 G$ de capital mené par des femmes avec son partenaire nonprofit Movement51. Partners généraux : Shelley Kuipers et Judy Fairburn (co-fondatrices), plus Lauren Robinson (Fund Managing Partner depuis mars 2025). Sortie notable : Virtual Gurus en novembre 2025."},"tagline":{"en":"Canada's largest women-led venture platform.","fr":"La plus grande plateforme de venture femmes au Canada."},"valueAdd":{"en":["Largest women-led Canadian platform","Food and AgTech specialization ($51M fund)","ATB Financial anchor LP","Calgary base with national reach","Movement51 community network"],"fr":["Plus grande plateforme women-led canadienne","Spécialisation Food et AgTech (fonds 51 M$)","ATB Financial LP ancre","Base Calgary avec portée nationale","Réseau communautaire Movement51"]},"followOnNarrative":{"en":"The51 reserves capital for follow-on rounds inside the Food and AgTech fund and mobilizes its Movement51 network plus ATB Financial relationships to bring co-investors into Series A. Founders share quarterly KPI updates and a clear plan to the next milestone.","fr":"The51 conserve des réserves pour les tours subséquents au sein du fonds Food et AgTech et mobilise son réseau Movement51 et ses liens ATB Financial pour amener des co-investisseurs en Série A. Les fondateurs partagent des KPI trimestriels et un plan clair vers le prochain jalon."},"keyQuestions":{"en":["Does your founding team include a woman in a key leadership role with material ownership?","Is your business aligned with the Food and AgTech thesis, or with the broader The51 venture mandate?","How does the Movement51 community network unlock distribution or hiring for you?"],"fr":["Votre équipe fondatrice inclut-elle une femme dans un poste clé avec une propriété matérielle?","Votre projet s'aligne-t-il sur la thèse Food et AgTech, ou sur le mandat venture plus large de The51?","Comment le réseau communautaire Movement51 débloque-t-il votre distribution ou vos embauches?"]},"coInvestors":[{"name":"ATB Financial","slug":"atb-financial"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Alberta Enterprise Corporation","slug":"alberta-enterprise-corporation"},{"name":"RBCx","slug":"rbcx"},{"name":"Golden Ventures","slug":"golden-ventures"}],"people":[{"fullName":"Shelley Kuipers","role":"Co-founder & General Partner","linkedinURL":"","initials":"SK","avatarBgColor":"#534AB7"},{"fullName":"Judy Fairburn","role":"Co-founder & General Partner","linkedinURL":"","initials":"JF","avatarBgColor":"#1D9E75"},{"fullName":"Lauren Robinson","role":"Fund Managing Partner","linkedinURL":"","initials":"LR","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Coral","sector":"Healthtech / Biotech","stage":"Seed","year":2026},{"name":"NLPatent","sector":"AI / ML","stage":"Series A","year":2025},{"name":"NiaHealth","sector":"Healthtech / Biotech","stage":"Seed","year":2025},{"name":"Heylist","sector":"Marketplace / Consumer","stage":"Seed","year":2024},{"name":"Mercator AI","sector":"AI / ML","stage":"Seed","year":2023}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://the51.com/","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec57","slug":"phc-ventures","name":"PHC Ventures","type":"CVC","conviction":"cvc","stages":["Seed","Series A"],"sectors":["Healthtech / Biotech"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Not disclosed"},"leadFollow":"Follow","province":["BC"],"hq":{"city":"Vancouver","region":"BC"},"languages":["EN"],"founded":2018,"fundSize":null,"activity":"Actif","lastDealDate":"2025-10-23","website":"https://phcventures.ca/","linkedinURL":"https://www.linkedin.com/company/phc-ventures/","logo":"/assets/vc-logos/phc-ventures.png?v=4","logoBgColor":"#F59E0B","thesis":{"en":"Corporate venture arm anchored by Providence Health Care in British Columbia. PHC Ventures takes equity stakes at the early stage in healthcare, AI, medtech and biotech companies, with commercialization through the Providence hospital network. Profiled in The 50 CVCA 2026 with a mix of pilot partnerships and direct equity investments, more than 11 active projects. Brian Simmers was named president in 2024. The platform suits clinical founders who need a hospital-system partner for validation, pilots and commercial scaling.","fr":"Bras CVC adossé à Providence Health Care en Colombie-Britannique. PHC Ventures prend des participations en early-stage dans des sociétés healthcare, IA, medtech et biotech, avec commercialisation via le réseau hospitalier Providence. Profil mis en avant dans The 50 CVCA 2026. Brian Simmers a été nommé président en 2024. Plus de 11 projets actifs en pilotes et investissements en equity."},"tagline":{"en":"Hospital network meets early-stage equity.","fr":"Capital strategique adosse au reseau hospitalier Providence."},"valueAdd":{"en":["Hospital network access","Clinical pilot pathway","Healthtech regulatory","BC ecosystem","Provider validation"],"fr":["Accès réseau hospitalier","Voie pilote clinique","Expertise réglementaire santé","Écosystème C.-B.","Validation par les soignants"]},"followOnNarrative":{"en":"PHC Ventures invests at the early stage with strategic equity tickets and typically syndicates with healthcare-specialist funds for Series A and beyond. Follow-on depends on clinical traction within the Providence network and broader provider adoption.","fr":"PHC Ventures investit en early-stage avec des tickets equity strategiques et syndique generalement avec des fonds healthcare specialises pour les Series A et au-dela. Le suivi depend de la traction clinique dans le reseau Providence et de l'adoption par d'autres systemes de soins."},"keyQuestions":{"en":["How would a Providence Health pilot accelerate your commercial roadmap?","What clinical evidence do you need to drive provider adoption?","How do you scale beyond a single hospital network to broader Canadian and US systems?"],"fr":["En quoi un pilote chez Providence Health accélérerait votre feuille de route commerciale?","Quelles données cliniques sont nécessaires pour stimuler l'adoption par les soignants?","Comment passez-vous d'un seul réseau hospitalier à des systèmes canadiens et américains plus larges?"]},"coInvestors":[{"name":"Relentless Venture Fund","slug":"relentless-venture-fund"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"DIGITAL Innovation Cluster","slug":"digital-innovation-cluster"},{"name":"Innovate BC","slug":"innovate-bc"}],"people":[{"fullName":"Brian Simmers","role":"President","linkedinURL":"https://www.linkedin.com/in/briansimmers/","initials":"BS","avatarBgColor":"#534AB7"}],"portfolio":[{"name":"Sonus Microsystems","sector":"Healthtech / Biotech","stage":"Seed","year":2025},{"name":"Mytrials","sector":"Healthtech / Biotech","stage":"Seed","year":2025},{"name":"Moonrise Medical","sector":"Healthtech / Biotech","stage":"Seed","year":2025},{"name":"VoxCell Bioinnovation","sector":"Healthtech / Biotech","stage":"Seed","year":null},{"name":"TotalFlow Medical","sector":"Healthtech / Biotech","stage":"Seed","year":null},{"name":"Thrive Health","sector":"Healthtech / Biotech","stage":"Seed","year":null},{"name":"Views ML","sector":"Healthtech / Biotech","stage":"Seed","year":null}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://phcventures.ca/venture-fund/","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec58","slug":"519-growth-fund","name":"519 Growth Fund","type":"VC","conviction":"generaliste","stages":["Pre-seed","Seed"],"sectors":["Climate / Energy","Deeptech / Hardware","SaaS / Vertical SaaS"],"ticket":{"min":250000,"max":1000000,"currency":"CAD","label":"$250K-$1M"},"leadFollow":"Both","province":["ON"],"hq":{"city":"London","region":"ON"},"languages":["EN"],"founded":2022,"fundSize":{"value":30,"currency":"CAD","vintage":2024},"activity":"Selectif","lastDealDate":"2024-05-08","website":"https://www.519growthfund.com","linkedinURL":"https://ca.linkedin.com/company/519growthfund","logo":"/assets/vc-logos/519-growth-fund.png?v=4","logoBgColor":"#10B981","thesis":{"en":"Regional micro-VC based in London, Ontario, managed by RHA Ventures. 519 Growth Fund targets pre-seed and innovative seed in southwestern Ontario. Fund II is targeting $30M after a first tranche of $10M CAD. Generalist tech-enabled approach with a strong regional anchor across the London-Hamilton-Kitchener-Waterloo corridor. The team backs early founders with strong community ties and provides syndication into national funds for follow-on rounds.","fr":"Micro-VC regional base a London, en Ontario, gere par RHA Ventures. 519 Growth Fund cible le pre-seed et le seed en AgTech, agroalimentaire et tech-enabled, principalement au Canada. Le Fonds II a clos une premiere tranche de 10 M$ CA en visant 15 M$ d'ici juin 2026, avec une cible totale de 30 M$. Le Fonds II prevoit 40 a 50 investissements de 750 k$ a 1 M$ par societe au stade seed, repartis a parts egales entre pre-seed et seed."},"tagline":{"en":"Southwestern Ontario seed capital.","fr":"Capital seed AgTech et tech-enabled, sud-ouest de l'Ontario."},"valueAdd":{"en":["Southwestern Ontario network","London-Hamilton-KW corridor","Regional anchor LPs","First institutional check","Ecosystem builder"],"fr":["Réseau sud-ouest ontarien","Corridor London-Hamilton-KW","LP régionaux ancrés","Premier chèque institutionnel","Bâtisseur d'écosystème"]},"followOnNarrative":{"en":"519 Growth Fund holds modest reserves typical of a regional micro-VC and actively syndicates Series A rounds into Toronto-based funds. Founders are expected to share regular updates and a clear path to a national lead investor for the next round.","fr":"519 Growth Fund detient des reserves modestes typiques d'un micro-VC regional et syndique activement les Series A avec des fonds de Toronto. Les fondateurs partagent des mises a jour regulieres et un plan clair vers un lead national pour le prochain tour."},"keyQuestions":{"en":["How does Southwestern Ontario talent give you a cost or hiring edge?","What does your customer pipeline beyond the region look like?","How do you structure follow-on syndication into Series A in Toronto?"],"fr":["En quoi le talent du sud-ouest ontarien vous donne-t-il un avantage de coût ou d'embauche?","À quoi ressemble votre pipeline client au-delà de la région?","Comment structurez-vous la syndication follow-on vers la Série A à Toronto?"]},"coInvestors":[],"people":[{"fullName":"David Brebner","role":"General Partner","linkedinURL":"https://www.linkedin.com/in/davidbrebner/","initials":"DB","avatarBgColor":"#534AB7"},{"fullName":"Brian Foster","role":"General Partner","linkedinURL":"","initials":"BF","avatarBgColor":"#1D9E75"},{"fullName":"Brian Cram","role":"General Partner","linkedinURL":"https://www.linkedin.com/in/brian-cram-51814a12/","initials":"BC","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"IntelliCulture","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2024},{"name":"Haggerty AgRobotics","sector":"Deeptech / Hardware","stage":"Seed","year":2024},{"name":"Appello","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2022},{"name":"Adviice","sector":"Fintech / Insurtech","stage":"Seed","year":2022},{"name":"ShiftLink","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2023},{"name":"Farm Health Guardian","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2023}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://rha.ventures/pressroom/519-growth-fund-2-launch","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec59","slug":"greensoil-proptech-ventures","name":"Greensoil Proptech Ventures","type":"VC","conviction":"pure-play","stages":["Seed","Series A","Series B+"],"sectors":["AI / ML","Climate / Energy","Deeptech / Hardware","Marketplace / Consumer","SaaS / Vertical SaaS"],"ticket":{"min":2000000,"max":10000000,"currency":"CAD","label":"$2M to $10M CAD"},"leadFollow":"Both","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2014,"fundSize":{"value":135,"currency":"CAD","vintage":2021},"activity":"Selectif","lastDealDate":"2025-11-19","website":"https://gspv.vc","linkedinURL":"https://www.linkedin.com/company/gspv/","logo":"/assets/vc-logos/greensoil-proptech-ventures.png?v=4","logoBgColor":"#F97316","thesis":{"en":"Pure-play proptech specialist investing in early to mid-stage PropTech companies across North America, Europe and Israel. The thesis aims to digitize and decarbonize the built environment for greater productivity, efficiency and sustainability. Fund II is targeting US$100M (~$135M CAD). Three investments in 2024 and one in 2025, with a disciplined deployment cadence. Greensoil suits founders selling into real estate operators and developers who need a partner with category-specific networks and customer access.","fr":"Spécialiste pure-play en proptech, Greensoil investit en early et mid-stage en Amérique du Nord, en Europe et en Israël. La thèse vise à numériser et décarboner l'environnement bâti pour gagner en productivité, efficacité et durabilité. Le Fonds II cible 100 M$ US (environ 135 M$ CA). Trois investissements en 2024 et un en 2025, avec une approche disciplinée."},"tagline":{"en":"Digitize and decarbonize the built world.","fr":"Numeriser et decarboner le bati."},"valueAdd":{"en":["PropTech specialist network","Decarb building expertise","Real estate LP intros","North America Europe Israel reach","Disciplined deployment"],"fr":["Réseau spécialiste proptech","Expertise décarbonation bâtiments","Intros LP immobiliers","Portée Amérique Europe Israël","Déploiement discipliné"]},"followOnNarrative":{"en":"Greensoil sizes Fund II to follow its proptech portfolio into Series B alongside Fifth Wall, MetaProp and RET Ventures. Founders are expected to share institutional pilot pipeline and decarbonization metrics with the team.","fr":"Le Fonds II de Greensoil est calibre pour suivre les participations proptech jusqu'en Serie B, aux cotes de Fifth Wall, MetaProp et RET Ventures. Les fondateurs partagent le pipeline de pilotes institutionnels et les indicateurs de decarbonation avec l'equipe."},"keyQuestions":{"en":["Which institutional real estate owner is most likely to be your design partner and first paid pilot?","How do you measure the carbon and productivity uplift in actual buildings, not theory?","What is the procurement cycle in commercial real estate and how do you compress it?"],"fr":["Quel propriétaire immobilier institutionnel est le plus susceptible d'être votre partenaire de conception et premier pilote payé?","Comment mesurez-vous le gain carbone et productivité dans des bâtiments réels, pas en théorie?","Quel est le cycle d'achat en immobilier commercial et comment le comprimez-vous?"]},"coInvestors":[{"name":"Fifth Wall","slug":"fifth-wall"},{"name":"Navitas Capital","slug":"navitas-capital"},{"name":"MetaProp","slug":"metaprop"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Moderne Ventures","slug":"moderne-ventures"},{"name":"RET Ventures","slug":"ret-ventures"}],"people":[{"fullName":"Alan Greenberg","role":"Partner","linkedinURL":"","initials":"AG","avatarBgColor":"#534AB7"},{"fullName":"Gideon Soesman","role":"Partner","linkedinURL":"","initials":"GS","avatarBgColor":"#1D9E75"},{"fullName":"Jamie James","role":"Partner","linkedinURL":"","initials":"JJ","avatarBgColor":"#A32D2D"},{"fullName":"David Kolada","role":"Partner","linkedinURL":"","initials":"DK","avatarBgColor":"#712B13"}],"portfolio":[{"name":"CABN","sector":"Proptech / Construction","stage":"Series A","year":2024},{"name":"ElectrIQ Power","sector":"Climate / Energy","stage":"Series B","year":2023},{"name":"TULU","sector":"Proptech / Construction","stage":"Series B","year":2022},{"name":"Virtual Peaker","sector":"Climate / Energy","stage":"Series A","year":2023},{"name":"Goby","sector":"Proptech / Construction","stage":"Series B","year":2020},{"name":"Wynd Technologies","sector":"Proptech / Construction","stage":"Series B","year":2021},{"name":"Honest Buildings","sector":"Proptech / Construction","stage":"Series B","year":2018}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.gspv.vc/","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec60","slug":"radical-ventures","name":"Radical Ventures","type":"VC","conviction":"pure-play","stages":["Seed","Series A","Series B+"],"sectors":["AI / ML"],"ticket":{"min":1000000,"max":25000000,"currency":"CAD","label":"$1M to $25M CAD"},"leadFollow":"Lead","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2017,"fundSize":{"value":900,"currency":"CAD","vintage":2025},"activity":"Tres actif","lastDealDate":"2026-05-18","website":"https://radical.vc","linkedinURL":"https://www.linkedin.com/company/radicalventures/","logo":"/assets/vc-logos/radical-ventures.png?v=4","logoBgColor":"#3B82F6","thesis":{"en":"Radical Ventures is the Canadian reference fund for artificial intelligence, founded by Jordan Jacobs and Tomi Poutanen (co-founders of Layer 6). The firm invests in companies developing and applying AI to redefine entire industries, from frontier models to vertical applications. Cheques of $1M to $25M from seed through growth, with a new US$650M early-stage fund closed in October 2025. Radical mobilizes a unique scientific network (Geoffrey Hinton, the Vector Institute ecosystem) and supports founders on AI talent recruitment, product strategy and access to compute. Built for ambitious AI-first founders who want a Canadian lead with global research depth.","fr":"Radical Ventures est le fonds canadien de reference en intelligence artificielle, fonde par Jordan Jacobs et Tomi Poutanen (cofondateurs de Layer 6). La firme investit dans les entreprises qui developpent et appliquent l'IA pour redefinir des industries entieres, de la frontiere modele jusqu'aux verticaux applicatifs. Cheques de 1 M$ a 25 M$ du seed jusqu'au growth, avec un nouveau fonds early-stage de 650 M$ US ferme en octobre 2025. Radical mobilise un reseau scientifique unique (Geoffrey Hinton, l'ecosysteme du Vector Institute) et appuie ses fondateurs sur le recrutement de talent IA, la strategie produit et l'acces a la puissance de calcul."},"tagline":{"en":"Backing the next generation of AI-native companies.","fr":"Investir dans la prochaine generation d'entreprises IA."},"valueAdd":{"en":["AI talent","Compute access","Scientific network","Vector Institute ties","Model partnerships"],"fr":["Talent IA","Acces au compute","Reseau scientifique","Liens Vector Institute","Partenariats modeles"]},"followOnNarrative":{"en":"Reserves substantial dry powder per company, often doubling down at Series B and beyond when the model and distribution are proven.","fr":"Reserve une importante poudre seche par entreprise, et redouble souvent en serie B et au-dela lorsque le modele et la distribution sont valides."},"keyQuestions":{"en":["Show us the inference cost curve over the next 12 months.","What proprietary data or feedback loop creates a moat?","Who on your team has shipped production AI at scale?"],"fr":["Montrez-nous la courbe de cout d'inference sur 12 mois.","Quelle donnee proprietaire ou boucle de retroaction cree un moat?","Qui dans l'equipe a deja livre de l'IA en production a grande echelle?"]},"coInvestors":[{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Georgian","slug":"georgian"},{"name":"Real Ventures","slug":"real-ventures"},{"name":"Tiger Global","slug":"tiger-global"}],"people":[{"fullName":"Jordan Jacobs","role":"Managing Partner","linkedinURL":"https://ca.linkedin.com/in/jordanjacobs1","initials":"JJ","avatarBgColor":"#534AB7"},{"fullName":"Tomi Poutanen","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/tomipoutanen/","initials":"TP","avatarBgColor":"#1D9E75"},{"fullName":"Salim Teja","role":"Partner","linkedinURL":"https://ca.linkedin.com/in/salim-teja-847a","initials":"ST","avatarBgColor":"#A32D2D"},{"fullName":"Aaron Brindle","role":"Partner","linkedinURL":"https://www.linkedin.com/in/aaron-brindle/","initials":"AB","avatarBgColor":"#712B13"}],"portfolio":[{"name":"Decart","sector":"AI / ML","stage":"Series C","year":2026},{"name":"General Magic","sector":"AI / ML","stage":"Seed","year":2026},{"name":"Serval","sector":"AI / ML","stage":"Series A","year":2025},{"name":"Periodic Labs","sector":"AI / ML","stage":"Seed","year":2025},{"name":"Cohere","sector":"AI / ML","stage":"Series D+","year":2025},{"name":"Writer","sector":"AI / ML","stage":"Series C","year":2024},{"name":"Waabi","sector":"AI / ML","stage":"Series B+","year":2024}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://radical.vc/","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec61","slug":"telegraph-ventures","name":"Telegraph Ventures","type":"VC","conviction":"pure-play","stages":["Pre-seed","Seed"],"sectors":["SaaS / Vertical SaaS","AI / ML"],"ticket":{"min":500000,"max":750000,"currency":"CAD","label":"$500k to $750k CAD"},"leadFollow":"Lead","province":["QC","ON"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2024,"fundSize":{"value":35,"currency":"CAD","vintage":2025},"activity":"Actif","lastDealDate":"2026-01-01","website":"https://www.telegraph-vc.com/","linkedinURL":"https://www.linkedin.com/company/telegraph-capital","logo":"/assets/vc-logos/telegraph-ventures.png?v=4","logoBgColor":"#EF4444","thesis":{"en":"Telegraph Ventures is a Montreal early-stage fund, spun off from European firm Telegraph Hill Capital and led by Heyday founder Etienne Merineau. It backs pre-seed and seed B2B software and applied-AI startups in Quebec, leading rounds from a $35M first close (target $40M).","fr":"Telegraph Ventures est un fonds montrealais d'amorcage, essaime de la firme europeenne Telegraph Hill Capital et dirige par Etienne Merineau, fondateur de Heyday. Le fonds soutient des startups de logiciel B2B et d'IA appliquee au pre-amorcage et a l'amorcage au Quebec, et mene des tours a partir d'un premier close de 35 M$ (cible de 40 M$)."},"tagline":{"en":"Enterprise AI at pre-seed and seed in Quebec.","fr":"IA d'entreprise au pre-amorcage et a l'amorcage au Quebec."},"valueAdd":{"en":["Heyday founder operating playbook","Enterprise AI go-to-market support","European Telegraph Hill network","Lead investor capacity","B2B software discipline"],"fr":["Methode operationnelle du fondateur de Heyday","Soutien go-to-market en IA d'entreprise","Reseau europeen Telegraph Hill","Capacite d'investisseur meneur","Discipline du logiciel B2B"]},"followOnNarrative":{"en":"Telegraph Ventures keeps reserves for follow-on into its enterprise AI leaders and taps the Telegraph Hill network for cross-border Series A syndication. Follow-on hinges on enterprise revenue durability.","fr":"Telegraph Ventures conserve des reserves pour suivre ses leaders en IA d'entreprise et mobilise le reseau Telegraph Hill pour la syndication transfrontaliere en serie A. Le suivi depend de la durabilite des revenus entreprise."},"keyQuestions":{"en":["Which enterprise workflow do you automate, and how do you prove ROI to a buyer?","What is your wedge against incumbent software vendors adding AI features?","How repeatable is your sales motion beyond founder-led deals?"],"fr":["Quel processus d'entreprise automatisez-vous, et comment prouvez-vous le ROI a un acheteur?","Quel est votre angle d'entree face aux editeurs etablis qui ajoutent des fonctions IA?","Votre motion de vente est-elle reproductible au-dela des deals menes par les fondateurs?"]},"coInvestors":[],"people":[{"fullName":"Etienne Merineau","role":"Managing Partner","linkedinURL":"","initials":"EM","avatarBgColor":"#534AB7"},{"fullName":"Luis Gutierrez Roy","role":"Partner","linkedinURL":"","initials":"LG","avatarBgColor":"#1D9E75"},{"fullName":"Varun Dalal","role":"Partner","linkedinURL":"","initials":"VD","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"JetScale","sector":"SaaS / Vertical SaaS","stage":"2026","year":null},{"name":"Glowtify","sector":"AI / ML","stage":"","year":null}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://betakit.com/telegraph-ventures-secures-35-million-to-back-enterprise-ai-startups-in-quebec/","lastVerifiedAt":"2026-05-20","editorialLevel":"Long tail (FR only)"},{"id":"rec62","slug":"information-venture-partners","name":"Information Venture Partners","type":"VC","conviction":"pure-play","stages":["Series A","Series B+"],"sectors":["Fintech / Insurtech","SaaS / Vertical SaaS","Cybersecurity"],"ticket":{"min":2000000,"max":10000000,"currency":"CAD","label":"$2M to $10M CAD"},"leadFollow":"Lead","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2014,"fundSize":{"value":124,"currency":"CAD","vintage":2019},"activity":"Selectif","lastDealDate":"2025-11-06","website":"https://informationvp.com","linkedinURL":"https://www.linkedin.com/company/information-venture-partners/","logo":"/assets/vc-logos/information-venture-partners.png?v=4","logoBgColor":"#3B82F6","thesis":{"en":"Pure-play B2B SaaS dedicated to North American financial services. Spun out from RBC Venture Partners in 2014 (originally founded in 2001), Information Venture Partners invests at the early stage in software applications for banks, insurers and financial institutions. Fund III closed in 2023 at $124M CAD. Latest deal in November 2025 with DealMaker. The team brings deep financial-services operating expertise and customer relationships, making it a natural lead for fintech-infrastructure founders selling into regulated buyers.","fr":"B2B SaaS et fintech dedie aux services financiers nord-americains. Issu de RBC Venture Partners, le fonds est independant depuis 2014. Apres trois fonds (Fonds III cloture en 2019 a 124 M$ CA), les associes ont renonce a un quatrieme fonds en octobre 2024 pour passer a un modele d'investissement deal-by-deal via SPV, cible sur des entreprises later-stage proches de 10 M$ de revenu. Dernier deal en novembre 2025 avec DealMaker (20 M$ US, equity et dette, aux cotes de CIBC Innovation Banking)."},"tagline":{"en":"B2B SaaS, financial services only.","fr":"SaaS B2B, services financiers exclusivement."},"valueAdd":{"en":["Financial services depth","Bank and insurer intros","RBC heritage network","B2B fintech scaling","Compliance-aware GTM"],"fr":["Expertise services financiers","Intros banques et assureurs","Réseau hérité de RBC","Mise à l'échelle fintech B2B","GTM conscient de la conformité"]},"followOnNarrative":{"en":"Information VP holds Fund III reserves to lead or co-lead Series A and B rounds for fintech and insurtech portfolio companies, with frequent syndication alongside Inovia, Aquiline and Thomson Reuters Ventures. Founders share regulated-buyer pipeline and contract progression with the partners.","fr":"Information VP conserve des reserves dans le Fonds III pour lead ou co-lead les Series A et B des participations fintech et insurtech, avec un syndicat frequent aux cotes d'Inovia, Aquiline et Thomson Reuters Ventures. Les fondateurs partagent le pipeline d'acheteurs regules et l'avancement des contrats."},"keyQuestions":{"en":["Which tier-1 bank or insurer is your reference customer and what is the contract size?","How do you navigate procurement, security review, and compliance at large financial institutions?","What is the moat once another vendor lands at the same bank?"],"fr":["Quelle banque tier-1 ou quel assureur est votre client référence et quelle est la taille du contrat?","Comment naviguez-vous l'achat, la revue sécurité et la conformité dans les grandes institutions financières?","Quel est le fossé une fois qu'un autre fournisseur atterrit dans la même banque?"]},"coInvestors":[{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"Aquiline Capital","slug":"aquiline-capital"},{"name":"Thomson Reuters Ventures","slug":"thomson-reuters-ventures"},{"name":"GGV Capital","slug":"ggv-capital"},{"name":"Bluefish Capital","slug":"bluefish-capital"},{"name":"BDC Capital","slug":"bdc-capital"}],"people":[{"fullName":"Robert Antoniades","role":"Co-founder & General Partner","linkedinURL":"https://www.linkedin.com/in/robert-antoniades-9b35a52/","initials":"RA","avatarBgColor":"#534AB7"},{"fullName":"David Unsworth","role":"Co-founder & General Partner","linkedinURL":"https://www.linkedin.com/in/dunsworth/","initials":"DU","avatarBgColor":"#1D9E75"},{"fullName":"Kerri Golden","role":"Partner & CFO","linkedinURL":"https://ca.linkedin.com/in/kerrigolden","initials":"KG","avatarBgColor":"#A32D2D"},{"fullName":"Sara Defina","role":"Vice President","linkedinURL":"","initials":"SD","avatarBgColor":"#712B13"}],"portfolio":[{"name":"Helcim","sector":"Fintech / Insurtech","stage":"Series B","year":2024},{"name":"Wisedocs","sector":"Fintech / Insurtech","stage":"Series A","year":2024},{"name":"Arteria AI","sector":"Fintech / Insurtech","stage":"Series B","year":2024},{"name":"Nue","sector":"SaaS / Vertical SaaS","stage":"Series A","year":2025},{"name":"DealMaker","sector":"Fintech / Insurtech","stage":"Growth","year":2024},{"name":"Strike Graph","sector":"Cybersecurity","stage":"Series A","year":2023}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://informationvp.com/","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec63","slug":"first-ascent-ventures","name":"First Ascent Ventures","type":"VC","conviction":"tech-actif","stages":["Series A","Series B+"],"sectors":["SaaS / Vertical SaaS","AI / ML","Fintech / Insurtech","Cybersecurity","Devtools / Infra"],"ticket":{"min":3000000,"max":10000000,"currency":"CAD","label":"$3M to $10M CAD"},"leadFollow":"Both","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2015,"fundSize":{"value":225,"currency":"CAD","vintage":2021},"activity":"Selectif","lastDealDate":"2025-01-28","website":"https://www.firstascent.vc","linkedinURL":"https://www.linkedin.com/company/firstascentvc/","logo":"/assets/vc-logos/first-ascent-ventures.png?v=4","logoBgColor":"#F97316","thesis":{"en":"Toronto-based fund specializing in enterprise software at early and growth stages. First Ascent invests in cloud, AI, machine learning, big data and cybersecurity companies. Fund II at $125M (2021) follows Fund I of $100M. Marquee 2025 exit with Assent, which returned 45% of Fund I and won the CVCA Regional Impact Award. The team brings disciplined enterprise software experience and a track record of supporting founders through Series A, B and beyond. Built for B2B founders selling into mid-market and enterprise buyers.","fr":"Fonds torontois spécialisé en logiciels d'entreprise au stade early et croissance. First Ascent investit dans le cloud, l'IA, le machine learning, le big data et la cybersécurité. Le Fonds II de 125 M$ (2021) prend la suite d'un Fonds I de 100 M$. Sortie phare en 2025 avec Assent, qui a retourné 45 % du Fonds I et remporté le prix CVCA Regional Impact Award."},"tagline":{"en":"Enterprise software, patient capital.","fr":"Logiciels d'entreprise, capital patient."},"valueAdd":{"en":["Enterprise software depth","Patient capital posture","Series A to growth bridge","Cybersecurity GTM","Toronto-NYC reach"],"fr":["Expertise logiciels d'entreprise","Posture capital patient","Pont Série A vers croissance","GTM cybersécurité","Portée Toronto et New York"]},"followOnNarrative":{"en":"First Ascent reserves meaningful follow-on capital from its $125M Fund II and supports portfolio companies from Series A through growth, with the Assent exit (45% of Fund I returned) as proof of long-cycle conviction.","fr":"First Ascent réserve un capital de suivi significatif sur son Fonds II de 125 M$ et accompagne ses sociétés de la Série A jusqu'à la croissance, comme l'illustre la sortie Assent (45 % du Fonds I retourné), preuve d'une conviction longue."},"keyQuestions":{"en":["What does your net dollar retention look like across your top 20 enterprise accounts?","How long is the procurement cycle with your buyer, and what is your champion-to-close playbook?","What is the realistic Series B syndicate you want to build, and what milestones unlock it?"],"fr":["À quoi ressemble votre net dollar retention sur vos 20 plus gros comptes entreprise?","Combien de temps dure le cycle d'achat avec votre acheteur, et quel est votre plan champion vers signature?","Quel syndicat réaliste de Série B voulez-vous construire, et quels jalons le débloquent?"]},"coInvestors":[{"name":"CIBC Innovation Banking","slug":"cibc-innovation-banking"},{"name":"Sun Life Financial","slug":"sun-life-financial"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Generation Ventures","slug":"generation-ventures"}],"people":[{"fullName":"Tony van Marken","role":"Managing Partner","linkedinURL":"","initials":"TV","avatarBgColor":"#534AB7"},{"fullName":"Richard Black","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/richard-black-a43a1313/","initials":"RB","avatarBgColor":"#1D9E75"},{"fullName":"Jake Diamond","role":"Associate","linkedinURL":"https://www.linkedin.com/in/jakediamond/","initials":"JD","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Burai","sector":"SaaS / Enterprise","stage":"Growth","year":2025},{"name":"Osano","sector":"SaaS / Privacy","stage":"Series B","year":2023},{"name":"Shinydocs","sector":"SaaS / Data Management","stage":"Growth","year":2023},{"name":"Darwin CX","sector":"SaaS / Subscription Mgmt","stage":"Growth","year":2022},{"name":"Thentia","sector":"SaaS / GovTech","stage":"Growth","year":2023},{"name":"Andgo","sector":"SaaS / WorkforceTech","stage":"Growth","year":2022},{"name":"Potloc","sector":"SaaS / Market Research","stage":"Series B","year":2022},{"name":"Assent","sector":"SaaS / Supply Chain","stage":"Series C","year":2023},{"name":"Dialogue","sector":"Health Tech","stage":"IPO","year":2021},{"name":"DailyPay","sector":"Fintech","stage":"Growth","year":2021},{"name":"LinkSquares","sector":"SaaS / Legal Tech","stage":"Series C","year":2022}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://firstascentventures.com/","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec64","slug":"accelerate-fund","name":"Accelerate Fund","type":"VC","conviction":"generaliste","stages":["Pre-seed","Seed"],"sectors":["AI / ML","Healthtech / Biotech","SaaS / Vertical SaaS","Climate / Energy","Devtools / Infra"],"ticket":{"min":null,"max":500000,"currency":"CAD","label":"Up to $500k CAD per round"},"leadFollow":"Follow","province":["AB"],"hq":{"city":"Calgary","region":"AB"},"languages":["EN"],"founded":2010,"fundSize":{"value":25,"currency":"CAD","vintage":2024},"activity":"Selectif","lastDealDate":"2025-09-08","website":"https://acceleratefund.ca/","linkedinURL":"https://ca.linkedin.com/company/the-accelerate-fund","logo":"/assets/vc-logos/accelerate-fund.png?v=4","logoBgColor":"#A855F7","thesis":{"en":"Accelerate Fund is Alberta's angel co-investment fund program, running since 2010 across four successive vehicles. Fund IV launched in December 2024 with a $15M anchor from Alberta Enterprise Corporation and a target total of $25M, sourced from institutional investors, family offices and high-net-worth individuals. Fund IV invests in Alberta-based pre-Series A companies focused on life sciences, digital transformation, AI and other emerging opportunities. Each cheque is typically up to $500k, co-invested on the same terms as private investors alongside angel groups, super-angels, family funds and individual angels. The program is managed by Yaletown Partners with support from The A100, the non-profit member network of Alberta tech operators. Funds I, II and III are fully invested.","fr":"Accelerate Fund est le programme de co-investissement avec anges de l'Alberta, actif depuis 2010 à travers quatre véhicules successifs. Le Fonds IV a été lancé en décembre 2024 avec un ancrage de 15 M$ d'Alberta Enterprise Corporation et une cible totale de 25 M$, sourcée auprès d'investisseurs institutionnels, family offices et particuliers fortunés. Le Fonds IV investit dans des entreprises albertaines pre-Série A en sciences de la vie, transformation numérique, IA et autres opportunités émergentes. Chaque chèque va jusqu'à 500 k$, co-investi aux mêmes conditions que les investisseurs privés aux côtés d'angel groups, super-anges, family funds et anges individuels. Le programme est géré par Yaletown Partners avec l'appui de The A100, le réseau de membres non-profit d'opérateurs tech albertains. Les Fonds I, II et III sont entièrement investis."},"tagline":{"en":"Alberta angel co-investment vehicle, Fund IV active.","fr":"Véhicule de co-investissement avec anges en Alberta, Fonds IV actif."},"valueAdd":{"en":["Alberta-only mandate","Angel co-investment alongside private terms","Yaletown Partners management","A100 operator network access","15-year program track record"],"fr":["Mandat strict Alberta","Co-investissement avec anges aux mêmes conditions privées","Gestion Yaletown Partners","Accès réseau opérateurs A100","Programme avec 15 ans de track record"]},"followOnNarrative":{"en":"Accelerate Fund follows the lead investor's terms and does not typically lead. Pro-rata capacity is preserved within Fund IV ($25M target) to back winners into pre-Series A, with Yaletown Partners and BDC Capital often providing the institutional bridge for Series A.","fr":"Accelerate Fund suit les conditions du lead et ne mene pas typiquement. Une capacite pro rata est preservee dans le Fonds IV (cible 25 M$) pour soutenir les gagnants vers la pre-Serie A, avec Yaletown Partners et BDC Capital souvent en pont institutionnel pour la Serie A."},"keyQuestions":{"en":["Are you Alberta-incorporated and operating in the province?","Do you already have an Alberta angel or angel group leading or co-leading your round?","Which Accelerate Fund thesis sector matches you (life sciences, AI, digital transformation)?"],"fr":["Êtes-vous incorporé en Alberta et opérationnel dans la province?","Avez-vous déjà un ange ou un groupe d'anges albertains qui lead ou co-lead votre tour?","Quel secteur de la thèse Accelerate Fund vous correspond (sciences de la vie, IA, transformation numérique)?"]},"coInvestors":[{"name":"Alberta Enterprise Corporation","slug":"alberta-enterprise-corporation"},{"name":"The A100","slug":"the-a100"},{"name":"Yaletown Partners","slug":"yaletown-partners"},{"name":"Thin Air Labs","slug":"thin-air-labs"},{"name":"BDC Capital","slug":"bdc-capital"}],"people":[{"fullName":"Arden Tse","role":"Principal, Yaletown Partners (head of Accelerate Funds II-IV)","linkedinURL":"https://ca.linkedin.com/in/ardentse","initials":"AT","avatarBgColor":"#534AB7"},{"fullName":"Yasmine Al-Hussein","role":"Investment Manager","linkedinURL":"","initials":"YA","avatarBgColor":"#1D9E75"},{"fullName":"Brad Johns","role":"Partner, Yaletown Partners","linkedinURL":"","initials":"BJ","avatarBgColor":"#A32D2D"},{"fullName":"Neil Frizzell","role":"Industry Advisor","linkedinURL":"","initials":"NF","avatarBgColor":"#712B13"}],"portfolio":[{"name":"WaitWell","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2023},{"name":"PayShepherd","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2022},{"name":"Areto Labs","sector":"AI / ML","stage":"Pre-seed","year":2022},{"name":"DrugBank","sector":"Healthtech / Biotech","stage":"Series A","year":2021},{"name":"StellarAlgo","sector":"SaaS / Vertical SaaS","stage":"Series A","year":2022},{"name":"Arolytics","sector":"Climate / Energy","stage":"Seed","year":2023},{"name":"Cellar Insights","sector":"AgTech / Climate","stage":"Seed","year":2025},{"name":"Fairly Staffing","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2026},{"name":"Virtual Gurus","sector":"Marketplace / Consumer","stage":"Seed","year":2022}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://acceleratefund.ca/about/","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec65","slug":"linearis-ventures","name":"Linearis Ventures","type":"VC","conviction":"pure-play","stages":["Series A","Series B+"],"sectors":["Healthtech / Biotech","AI / ML"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Not disclosed"},"leadFollow":"Both","province":["QC","ON"],"hq":{"city":"Québec","region":"QC"},"languages":["EN","FR"],"founded":2023,"fundSize":{"value":50,"currency":"CAD","vintage":2024},"activity":"Actif","lastDealDate":null,"website":"https://www.linearis.com/ventures","linkedinURL":"https://ca.linkedin.com/company/linearisventures","logo":"/assets/vc-logos/linearis-ventures.png?v=4","logoBgColor":"#C47A2F","thesis":{"en":"Linearis Ventures is a Quebec City evergreen fund paired with its own lab, investing in AI and precision-medicine companies across the health continuum. Led by founder and CEO Alexandre Le Bouthillier, the fund is actively raising toward a $50M first target, backed in part by the City of Quebec.","fr":"Linearis Ventures est un fonds evergreen base a Quebec, adosse a son propre laboratoire, qui investit dans des entreprises d'IA et de medecine de precision sur le continuum de la sante. Dirige par son fondateur et PDG Alexandre Le Bouthillier, le fonds leve activement vers un premier objectif de 50 M$, soutenu en partie par la Ville de Quebec."},"tagline":{"en":"AI and precision medicine across the health continuum.","fr":"IA et medecine de precision sur le continuum de la sante."},"valueAdd":{"en":["Paired research lab","Precision-medicine and metabolomics depth","AI-health domain expertise","Quebec City institutional support","Later-stage scaling guidance"],"fr":["Laboratoire de recherche adosse","Profondeur en medecine de precision et metabolomique","Expertise du domaine IA-sante","Soutien institutionnel de la Ville de Quebec","Accompagnement de la mise a l'echelle en stade avance"]},"followOnNarrative":{"en":"Linearis Ventures uses its evergreen structure to keep backing companies across the health continuum and brings in international co-investors for larger rounds. Follow-on tracks clinical validation and scientific de-risking.","fr":"Linearis Ventures s'appuie sur sa structure evergreen pour continuer a soutenir les entreprises sur le continuum de la sante et fait entrer des co-investisseurs internationaux pour les tours plus importants. Le suivi suit la validation clinique et la reduction du risque scientifique."},"keyQuestions":{"en":["What clinical or scientific evidence supports your precision-medicine claim?","How does the Linearis lab accelerate your development specifically?","What is your regulatory and reimbursement path?"],"fr":["Quelles preuves cliniques ou scientifiques appuient votre promesse de medecine de precision?","En quoi le laboratoire Linearis accelere-t-il concretement votre developpement?","Quel est votre chemin reglementaire et de remboursement?"]},"coInvestors":[],"people":[{"fullName":"Alexandre Le Bouthillier","role":"General Partner & CEO","linkedinURL":"","initials":"AL","avatarBgColor":"#534AB7"}],"portfolio":[],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.linearis.com/ventures","lastVerifiedAt":"2026-05-20","editorialLevel":"Long tail (FR only)"},{"id":"rec66","slug":"intact-ventures","name":"Intact Ventures","type":"CVC","conviction":"cvc","stages":["Series A","Series B+"],"sectors":["Fintech / Insurtech","Devtools / Infra"],"ticket":{"min":2000000,"max":10000000,"currency":"CAD","label":"$2M-$10M"},"leadFollow":"Both","province":["QC","ON","BC","AB"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN","FR"],"founded":2016,"fundSize":{"value":400,"currency":"CAD","vintage":2020},"activity":"Actif","lastDealDate":"2026-03-24","website":"https://www.intactfc.com/about-us/intact-ventures","linkedinURL":"https://ca.linkedin.com/showcase/intact-ventures/","logo":"/assets/vc-logos/intact-ventures.png?v=4","logoBgColor":"#A32D2D","thesis":{"en":"Intact Ventures is the corporate venture arm of Intact Financial, Canada's largest property and casualty insurer. With ~$400M CAD deployed across two funds, the team invests at seed, Series A and B+ in insurtech, mobility, distribution, data and AI applied to insurance. Cheques of $2M to $10M CAD as lead or follow, with a pan-Canadian and bilingual mandate (QC, ON, BC, AB). Intact Ventures combines direct investment with fund-of-funds activity, and provides access to Intact's operational units (1,000+ brokers, claims data, underwriting capabilities) to accelerate commercialization for portfolio companies.","fr":"Intact Ventures est le bras de capital de risque corporatif d'Intact Financial, le plus grand assureur dommages canadien. Avec ~400 M$ CA déployés sur deux fonds, l'équipe investit en amorçage, Série A et B+ dans l'insurtech, la mobilité, la distribution, les données et l'IA appliquées à l'assurance. Tickets de 2 à 10 M$ CA, en lead ou follow, avec un mandat pancanadien (QC, ON, BC, AB) et bilingue. Intact Ventures combine direct et fund of funds, et ouvre l'accès aux unités opérationnelles d'Intact (1 000+ courtiers, données sinistres, capacités souscription) pour accélérer la commercialisation des startups partenaires."},"tagline":{"en":"Canada's leading insurtech CVC, $2-10M cheques","fr":"CVC insurtech canadien de référence, tickets 2 à 10 M$"},"valueAdd":{"en":["Insurance distribution access","Claims & underwriting data","Pilots with Intact business units","Regulatory know-how","Pan-Canadian network"],"fr":["Accès à la distribution assurance","Données sinistres et souscription","Pilotes avec les unités d'Intact","Expertise réglementaire","Réseau pancanadien"]},"followOnNarrative":{"en":"Intact Ventures supports portfolio companies through Series B+ and frequently uses Intact's balance sheet to anchor strategic commercial pilots. Co-investment with financial VCs is standard.","fr":"Intact Ventures accompagne ses participations jusqu'en Série B+ et utilise fréquemment le bilan d'Intact pour ancrer des pilotes commerciaux stratégiques. La co participation avec des VC financiers est la norme."},"keyQuestions":{"en":["Is your product directly relevant to insurance, mobility, distribution or claims/data infrastructure?","Are you open to a strategic partnership or pilot with an Intact business unit alongside the financing?","Do you have a regulatory or compliance plan compatible with a regulated insurer's risk appetite?"],"fr":["Votre produit est-il directement pertinent pour l'assurance, la mobilité, la distribution ou les données et la gestion des sinistres ?","Êtes-vous ouverts à un partenariat stratégique ou à un pilote avec une unité d'Intact en plus du financement ?","Disposez-vous d'un plan réglementaire et de conformité compatible avec l'appétence au risque d'un assureur réglementé ?"]},"coInvestors":[{"name":"Portage Ventures","slug":"portage-ventures"},{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Luge Capital","slug":"luge-capital"},{"name":"OMERS Ventures","slug":"omers-ventures"}],"people":[{"fullName":"Ben Isenberg","role":"Director, Intact Ventures","linkedinURL":"https://www.linkedin.com/in/benisenberg/","initials":"BI","avatarBgColor":"#534AB7"},{"fullName":"Eric Cohen","role":"Vice-President, Investments","linkedinURL":"https://www.linkedin.com/in/eric-cohen-intact/","initials":"EC","avatarBgColor":"#1D9E75"}],"portfolio":[{"name":"Shepherd","sector":"Fintech / Insurtech","stage":"Series B","year":2026},{"name":"Rosella","sector":"Fintech / Insurtech","stage":"Pre-seed","year":2026},{"name":"Quandri","sector":"Fintech / Insurtech","stage":"Series A","year":2025},{"name":"Venn","sector":"Fintech / Insurtech","stage":"Series A","year":2025},{"name":"Deck","sector":"Fintech / Insurtech","stage":"Series A","year":2025},{"name":"Foxquilt","sector":"Fintech / Insurtech","stage":"Series A","year":2023},{"name":"Trufla","sector":"Fintech / Insurtech","stage":"Series A","year":2022}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.intactfc.com/about-us/intact-ventures","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec67","slug":"nbif","name":"NBIF","type":"Public","conviction":"generaliste","stages":["Pre-seed","Seed"],"sectors":["SaaS / Vertical SaaS","AI / ML","Healthtech / Biotech","Deeptech / Hardware","Devtools / Infra"],"ticket":{"min":200000,"max":500000,"currency":"CAD","label":"$200k to $500k CAD"},"leadFollow":"Both","province":["NB"],"hq":{"city":"Fredericton","region":"NB"},"languages":["EN","FR"],"founded":2003,"fundSize":{"value":100,"currency":"CAD","vintage":null},"activity":"Actif","lastDealDate":"2026-03-19","website":"https://nbif.ca/","linkedinURL":"https://ca.linkedin.com/company/nbif","logo":"/assets/vc-logos/nbif.png?v=4","logoBgColor":"#1D9E75","thesis":{"en":"The New Brunswick Innovation Foundation (NBIF) is an evergreen pre-seed and seed-stage venture capital organization with a $100M fund created to scale New Brunswick tech companies. Founded in 2003, NBIF operates direct equity investment, a fund-of-funds strategy, specialized sustainability and competitiveness funds, and partnerships with NB accelerators and incubators. Cheques typically $200k to $500k via preferred shares, common shares or convertible debentures. Recent activity: 16 investments worth $3.2M in 2024-25, down from 31 deals worth $6M the year prior. 17 portfolio exits to date, with every NBIF dollar matched by approximately $30 from other sources. Sector focus on ICT, life sciences, advanced manufacturing.","fr":"La New Brunswick Innovation Foundation (NBIF) est un fonds evergreen de capital de risque pre-seed et seed de 100 M$ créé pour faire grandir les entreprises tech du Nouveau-Brunswick. Fondée en 2003, la NBIF opère de l'investissement direct en équité, une stratégie de fonds de fonds, des fonds spécialisés sur la durabilité et la compétitivité, et des partenariats avec les accélérateurs et incubateurs du NB. Chèques typiques de 200 à 500 k$ via actions privilégiées, ordinaires ou débentures convertibles. Activité récente : 16 investissements pour 3,2 M$ en 2024-25, en baisse par rapport à 31 deals pour 6 M$ l'année précédente. 17 sorties de portefeuille à ce jour, avec un effet de levier d'environ 30:1 sur chaque dollar NBIF. Focus secteur sur les TIC, sciences de la vie, fabrication avancée."},"tagline":{"en":"New Brunswick's evergreen pre-seed and seed engine.","fr":"Le moteur evergreen pre-seed et seed du Nouveau-Brunswick."},"valueAdd":{"en":["$100M evergreen fund","$30:1 leverage on private capital","Direct equity plus fund-of-funds","NB ecosystem partner relationships","Bilingual operations (NB officially bilingual)"],"fr":["Fonds evergreen 100 M$","Effet de levier 30:1 sur capital privé","Équité directe et fonds de fonds","Relations avec l'écosystème NB","Opérations bilingues (NB officiellement bilingue)"]},"followOnNarrative":{"en":"As an evergreen $100M fund, NBIF re-invests recycled proceeds into follow-on rounds and routes founders to private VC leads via its fund-of-funds relationships. Every NBIF dollar pulls roughly $30 of additional capital alongside.","fr":"Fonds evergreen de 100 M$, la NBIF reinjecte les sommes recyclees dans les tours subsequents et oriente les fondateurs vers des leads VC prives via ses relations de fonds de fonds. Chaque dollar NBIF attire environ 30 $ de capital additionnel."},"keyQuestions":{"en":["Is your company incorporated in New Brunswick, and is the team based there?","Does your sector fit NBIF's focus (ICT, life sciences, advanced manufacturing)?","Are you looking for a $200k to $500k direct cheque, or partner-fund routing?"],"fr":["Votre entreprise est-elle incorporée au Nouveau-Brunswick, et l'équipe est-elle basée là?","Votre secteur correspond-il au focus NBIF (TIC, sciences de la vie, fabrication avancée)?","Cherchez-vous un chèque direct de 200 à 500 k$, ou un routage via fonds partenaire?"]},"coInvestors":[{"name":"Concrete Ventures","slug":"concrete-ventures"},{"name":"Build Ventures","slug":"build-ventures"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Killick Capital","slug":"killick-capital"}],"people":[{"fullName":"Jeff White","role":"President and CEO","linkedinURL":"https://www.linkedin.com/in/jeff-white-nb/","initials":"JW","avatarBgColor":"#534AB7"},{"fullName":"Raymond Fitzpatrick","role":"Director of Investments","linkedinURL":"https://www.linkedin.com/in/raymondfitzpatrick/","initials":"RF","avatarBgColor":"#1D9E75"},{"fullName":"Laila Theriault","role":"Investment Analyst","linkedinURL":"https://www.linkedin.com/in/laila-theriault/","initials":"LT","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Eigen Innovations","sector":"AI / ML","stage":"Seed","year":2019},{"name":"Beauceron Security","sector":"Cybersecurity","stage":"Seed","year":2019},{"name":"Kognitiv Spark","sector":"Deeptech / Hardware","stage":"Seed","year":2019},{"name":"TrojAI","sector":"AI / ML","stage":"Seed","year":2022},{"name":"Resson (Versos)","sector":"AI / ML","stage":"Seed","year":2024},{"name":"ReelData","sector":"AI / ML","stage":"Seed","year":2022},{"name":"Urai AI","sector":"AI / ML","stage":"Seed","year":2026}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://nbif.ca/about/","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec68","slug":"igan-partners","name":"iGan Partners","type":"VC","conviction":"pure-play","stages":["Seed","Series A"],"sectors":["Healthtech / Biotech","AI / ML"],"ticket":{"min":1000000,"max":5000000,"currency":"CAD","label":"$1M to $5M CAD"},"leadFollow":"Lead","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2013,"fundSize":{"value":100,"currency":"CAD","vintage":2019},"activity":"Selectif","lastDealDate":"2026-02-10","website":"https://iganpartners.com","linkedinURL":"https://www.linkedin.com/company/igan-partners/","logo":"/assets/vc-logos/igan-partners.png?v=4","logoBgColor":"#712B13","thesis":{"en":"Toronto-based fund specialized in digital health, medical devices and healthcare technology. iGan empowers founders with capital and operational resources to support growth. Fund I (formerly Rowanwood) closed at $100M in 2019. Recent 2025 investments include DOCSI, Cyborg and Cosm Medical. Thematic approach to healthtech with emphasis on AI in healthcare. The team brings deep healthcare operator and clinical credentials, making iGan a natural lead for founders building regulated health solutions for the North American market.","fr":"Fonds torontois spécialisé en santé numérique, dispositifs médicaux et technologies de la santé. iGan accompagne les fondateurs avec capital et ressources opérationnelles pour soutenir la croissance. Le Fonds I, anciennement Rowanwood, a clôturé à 100 M$ en 2019. Investissements récents en 2025 incluent DOCSI, Cyborg et Cosm Medical. Approche thématique en healthtech avec accent sur l'IA en santé."},"tagline":{"en":"Healthtech founders, scale partners.","fr":"Fondateurs healthtech, partenaires de croissance."},"valueAdd":{"en":["Healthtech operator network","MedTech regulatory know-how","AI in healthcare focus","Hospital channel intros","Series A scaling support"],"fr":["Réseau opérateurs healthtech","Savoir-faire réglementaire MedTech","Focus IA en santé","Intros canal hospitalier","Soutien mise à l'échelle Série A"]},"followOnNarrative":{"en":"iGan keeps reserves to support portfolio companies through Series A and B and frequently co-invests with healthtech specialists (New Leaf, Genesys, Arboretum). Follow-on conviction is tied to clinical milestones and regulatory progress.","fr":"iGan conserve des reserves pour accompagner ses participations en Series A et B et co-investit frequemment avec des specialistes healthtech (New Leaf, Genesys, Arboretum). La conviction follow-on est liee aux jalons cliniques et aux avancees reglementaires."},"keyQuestions":{"en":["What is your regulatory pathway and reimbursement story, and who is your clinical champion?","How do you sell into health systems given typical 18-month sales cycles?","What clinical evidence will your Series B investors need to see in two years?"],"fr":["Quel est votre parcours réglementaire et votre histoire de remboursement, et qui est votre champion clinique?","Comment vendez-vous aux systèmes de santé étant donné les cycles de vente typiques de 18 mois?","Quelle preuve clinique vos investisseurs de Série B devront-ils voir dans deux ans?"]},"coInvestors":[{"name":"New Leaf Venture Partners","slug":"new-leaf-venture-partners"},{"name":"Genesys Capital","slug":"genesys-capital"},{"name":"Arboretum Ventures","slug":"arboretum-ventures"},{"name":"Advocate Health","slug":"advocate-health"},{"name":"Spring Impact Capital","slug":"spring-impact-capital"},{"name":"BDC Capital","slug":"bdc-capital"}],"people":[{"fullName":"Sam Ifergan","role":"Partner","linkedinURL":"","initials":"SI","avatarBgColor":"#534AB7"},{"fullName":"Lorena Tora","role":"Partner","linkedinURL":"","initials":"LT","avatarBgColor":"#1D9E75"},{"fullName":"Chris Payne","role":"Partner","linkedinURL":"","initials":"CP","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Cosm Medical","sector":"Healthcare / MedTech","stage":"Seed","year":2025},{"name":"Flosonics Medical","sector":"Healthcare / MedTech","stage":"Series C","year":2023},{"name":"Segmed","sector":"Healthcare / Digital Health","stage":"Series A","year":2024},{"name":"RetiSpec","sector":"Healthcare / MedTech","stage":"Series A","year":2023},{"name":"MolecuLight","sector":"Healthcare / MedTech","stage":"Growth","year":2022},{"name":"Curv Health","sector":"Healthcare / Digital Health","stage":"Seed","year":2022},{"name":"Exact Imaging","sector":"Healthcare / MedTech","stage":"Growth","year":2021}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://iganpartners.com/about-us","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec69","slug":"sprout-fund","name":"Sprout Fund","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed"],"sectors":["AI / ML","SaaS / Vertical SaaS","Marketplace / Consumer","Healthtech / Biotech"],"ticket":{"min":250000,"max":1000000,"currency":"CAD","label":"$250K-$1M"},"leadFollow":"Both","province":["QC","ON","BC","AB"],"hq":{"city":"Edmonton","region":"AB"},"languages":["EN"],"founded":2018,"fundSize":{"value":14,"currency":"CAD","vintage":2022},"activity":"Actif","lastDealDate":"2025-12-01","website":"https://sproutfund.vc/","linkedinURL":"https://ca.linkedin.com/company/sproutfund-vc","logo":"/assets/vc-logos/sprout-fund.png?v=4","logoBgColor":"#0EA5E9","thesis":{"en":"Edmonton-based seed fund focused on Western Canada, primarily in B2B SaaS. Sprout also invests in AI, generative AI, proptech and healthtech. Fund II had a first close at $10M in 2022, totaling approximately $14M. The team is an active investor with a clear thesis on Prairie and BC founders, providing the regional first cheque institutional capital that is hardest to access west of Toronto. Sprout pairs fast decisions with hands-on operational support through Series A.","fr":"Fonds seed basé à Edmonton et axé sur l'Ouest canadien, principalement en SaaS B2B. Sprout investit aussi en IA, IA générative, proptech et healthtech. Le Fonds II a clôturé un premier 10 M$ en 2022, pour environ 14 M$ au total. Investisseur actif avec une thèse claire sur les fondateurs des Prairies et de la Colombie-Britannique."},"tagline":{"en":"Western seed, B2B SaaS first.","fr":"Seed de l'Ouest, SaaS B2B d'abord."},"valueAdd":{"en":["Western Canada seed","B2B SaaS playbook","Edmonton ecosystem","AI and proptech depth","Active follow-on support"],"fr":["Seed Ouest canadien","Playbook SaaS B2B","Écosystème edmontonien","Expertise IA et proptech","Soutien follow-on actif"]},"followOnNarrative":{"en":"Sprout reserves for follow-on at seed extensions and selectively bridges portfolio into Series A with pan-Canadian and US co-investors (BDC, Accelerate Fund). Monthly KPI cadence and a clear path to $1M ARR are expected.","fr":"Sprout conserve des réserves pour les extensions seed et accompagne sélectivement les sociétés vers la Série A avec des co-investisseurs pancanadiens et américains (BDC, Accelerate Fund). KPI mensuels et chemin clair vers 1 M$ d'ARR attendus."},"keyQuestions":{"en":["What is your wedge product and how do you expand from there?","How do you achieve $100K MRR with Western Canadian customers as anchors?","What does your AI defensibility look like 24 months out?"],"fr":["Quel est votre produit d'entrée et comment élargissez-vous à partir de là?","Comment atteignez-vous 100 K$ de MRR avec des clients de l'Ouest canadien comme ancrages?","À quoi ressemble votre défensibilité IA dans 24 mois?"]},"coInvestors":[{"name":"Alberta Enterprise Corporation","slug":"alberta-enterprise-corporation"},{"name":"Accelerate Fund","slug":"accelerate-fund"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Thin Air Labs","slug":"thin-air-labs"},{"name":"The A100","slug":"the-a100"},{"name":"ATB Financial","slug":"atb-financial"}],"people":[{"fullName":"Kristina Milke","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/kristinamilke/","initials":"KM","avatarBgColor":"#534AB7"},{"fullName":"Mark Benning","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/markbenning/","initials":"MB","avatarBgColor":"#1D9E75"},{"fullName":"Shaheel Hooda","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/shaheelhooda/","initials":"SH","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Rithmik Solutions","sector":"AI / ML","stage":"Series A","year":2025},{"name":"Glowtify","sector":"AI / ML","stage":"Seed","year":2025},{"name":"Styx Intelligence","sector":"Cybersecurity","stage":"Seed","year":2025},{"name":"Levr","sector":"Fintech / Insurtech","stage":"Seed","year":2024},{"name":"Truffle","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2022},{"name":"DiveThru","sector":"Healthtech / Biotech","stage":"Seed","year":2021},{"name":"Dryrun","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2020}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://sproutfund.vc/","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec70","slug":"investissement-quebec","name":"Investissement Québec","type":"Public","conviction":"generaliste","stages":["Pre-seed","Seed"],"sectors":["Generalist (no thesis)"],"ticket":{"min":250000,"max":2000000,"currency":"CAD","label":"$250k to $2M CAD"},"leadFollow":"Follow","province":["QC"],"hq":{"city":"Montreal","region":"QC"},"languages":["FR","EN"],"founded":1998,"fundSize":{"value":200,"currency":"CAD","vintage":2025},"activity":"Tres actif","lastDealDate":"2026-05-01","website":"https://www.investquebec.com/","linkedinURL":"https://www.linkedin.com/company/investissement-quebec/","logo":"/assets/vc-logos/investissement-quebec.png?v=4","logoBgColor":"#0EA5E9","thesis":{"en":"Investissement Québec is the Crown corporation that channels Quebec public capital into the province's tech ecosystem. In 2025 it relaunched Fonds Impulsion, a $200M VC fund focused exclusively on pre-seed and seed Québec-headquartered tech startups (the successor to Impulsion PME). IQ writes cheques between $250k and $2M as a complementary co-investor alongside private VC. Application requires a reference from an approved ecosystem partner. The fund targets roughly 70 companies over 10 years and is sector-agnostic with an alignment lens on Québec's strategic priorities.","fr":"Investissement Québec est la société d'État qui canalise le capital public québécois vers l'écosystème tech. En 2025, elle a relancé le Fonds Impulsion, un fonds de capital de risque de 200 M$ dédié exclusivement aux startups tech pre-seed et seed basées au Québec (successeur d'Impulsion PME). IQ émet des chèques de 250 k$ à 2 M$ en co-investisseur complémentaire à côté du VC privé. La candidature requiert une référence d'un partenaire écosystème agréé. Le fonds vise environ 70 entreprises sur 10 ans et reste sans biais sectoriel, avec un filtre d'alignement sur les priorités stratégiques du Québec."},"tagline":{"en":"Quebec's $200M state-backed early-stage matching fund.","fr":"Le fonds public d'amorçage du Québec, 200 M$ en matching."},"valueAdd":{"en":["Quebec public capital depth","Matching co-investment posture","Ecosystem partner referral funnel","10-year deployment horizon","Sector-agnostic mandate"],"fr":["Profondeur capital public québécois","Posture co-invest en matching","Funnel référence partenaires écosystème","Horizon déploiement 10 ans","Mandat sans biais sectoriel"]},"followOnNarrative":{"en":"Fonds Impulsion plays a complementary co-investor role next to private VC, with capacity to follow into subsequent Quebec rounds when private leads remain engaged. Founders coordinate the next round closely with the ecosystem referral partner.","fr":"Le Fonds Impulsion joue un role de co-investisseur complementaire aux cotes du VC prive, avec une capacite de suivre dans les rondes quebecoises subsequentes tant que les lead prives restent engages. Les fondateurs coordonnent la suite avec le partenaire ecosysteme referent."},"keyQuestions":{"en":["Which approved ecosystem partner will reference your application to IQ?","How does your roadmap align with Quebec's current strategic priorities (AI, climate, life sciences, advanced manufacturing)?","What private VC will sit in this round so IQ can play its complementary role?"],"fr":["Quel partenaire écosystème agréé va référencer votre candidature à IQ?","Comment votre feuille de route s'aligne-t-elle sur les priorités stratégiques actuelles du Québec (IA, climat, sciences de la vie, fabrication avancée)?","Quel VC privé sera dans ce tour pour permettre à IQ de jouer son rôle complémentaire?"]},"coInvestors":[{"name":"Fonds de solidarité FTQ","slug":"fonds-de-solidarite-ftq"},{"name":"Desjardins Capital","slug":"desjardins-capital"},{"name":"Anges Québec","slug":"anges-quebec"},{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"Brightspark Ventures","slug":"brightspark-ventures"},{"name":"AQC Capital","slug":"aqc-capital"}],"people":[{"fullName":"Alex Laverdiere","role":"Vice-president, Venture Capital","linkedinURL":"https://www.linkedin.com/in/alex-laverdi%C3%A8re/","initials":"AL","avatarBgColor":"#534AB7"},{"fullName":"Benoit M. Leroux","role":"Vice-president, Investment Funds","linkedinURL":"https://ca.linkedin.com/in/benoit-m-leroux","initials":"BM","avatarBgColor":"#1D9E75"}],"portfolio":[{"name":"Opalia","sector":"Healthtech / Biotech","stage":"Seed","year":2026},{"name":"SBQuantum","sector":"Deeptech / Hardware","stage":"Seed","year":2026},{"name":"Sofistic AI","sector":"AI / ML","stage":"Seed","year":2026},{"name":"Encephalx","sector":"Healthtech / Biotech","stage":"Seed","year":2026},{"name":"Epik Eats (Dansu Foods)","sector":"Marketplace / Consumer","stage":"Seed","year":2026},{"name":"Find Therapeutics","sector":"Healthtech / Biotech","stage":"Series A","year":2026},{"name":"Axcell Labs","sector":"Deeptech / Hardware","stage":"Seed","year":2025}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.investquebec.com/fr/financement/programmes-gouvernementaux/le-fonds-impulsion","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec71","slug":"noetic-fund","name":"Noetic Fund","type":"VC","conviction":"pure-play","stages":["Pre-seed","Seed","Series A"],"sectors":["Healthtech / Biotech"],"ticket":{"min":500000,"max":2000000,"currency":"CAD","label":"$500K-$2M"},"leadFollow":"Follow","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2020,"fundSize":{"value":100,"currency":"CAD","vintage":2021},"activity":"Dormant","lastDealDate":"2024-06-01","website":"https://noeticfund.com/","linkedinURL":"https://ca.linkedin.com/company/noetic-fund","logo":"/assets/vc-logos/noetic-fund.png?v=4","logoBgColor":"#EF4444","thesis":{"en":"Toronto-based pure-play fund focused on psychedelics, mental health and central nervous system therapeutics. Noetic closed Fund I in 2020 and launched Fund II in 2021 with a $200M target. Disciplined thematic approach in an emerging category where clinical science is advancing rapidly. The team brings long-term conviction on psychedelic medicine and pairs cheques with deep network access in regulatory affairs, clinical operations and pharma partnerships. Built for biotech founders attacking neurology and mental health markets with novel mechanisms of action.","fr":"Fonds torontois pure-play sur les psychédéliques, la santé mentale et les thérapeutiques du système nerveux central. Noetic a clôturé son Fonds I en 2020 et lancé son Fonds II en 2021 avec une cible de 200 M$. Approche thématique disciplinée dans une catégorie émergente où la science clinique progresse rapidement. Convictions de long terme sur la médecine psychédelique."},"tagline":{"en":"Psychedelic medicine, clinical-grade.","fr":"Medecine psychedelique, qualite clinique."},"valueAdd":{"en":["Psychedelic medicine depth","CNS therapeutics expertise","Clinical and regulatory support","Long-term conviction","Pure-play network"],"fr":["Expertise médecine psychédélique","Savoir-faire thérapeutiques SNC","Soutien clinique et réglementaire","Conviction long terme","Réseau pure-play"]},"followOnNarrative":{"en":"Noetic reserves capital for clinical milestone follow-ons and syndicates pre-IND and Phase 1 rounds with category specialists (Palo Santo, Iter, Negev). Long-duration support is the explicit posture given regulatory timelines.","fr":"Noetic reserve du capital pour les tours subsequents lies aux jalons cliniques et syndique les tours pre-IND et Phase 1 avec des specialistes de la categorie (Palo Santo, Iter, Negev). La posture est explicitement de long terme, compte tenu des delais reglementaires."},"keyQuestions":{"en":["What clinical milestones unlock the next valuation step for your asset?","How does your IP defend against fast-following compounds and dosing variants?","What is your reimbursement and insurance coverage hypothesis at launch?"],"fr":["Quels jalons cliniques débloquent la prochaine étape de valorisation de votre actif?","Comment votre PI défend-elle contre les molécules suiveuses et variantes de dosage?","Quelle est votre hypothèse de remboursement et de couverture assurantielle au lancement?"]},"coInvestors":[{"name":"Conscience VC","slug":"conscience-vc"},{"name":"Palo Santo","slug":"palo-santo"},{"name":"Iter Investments","slug":"iter-investments"},{"name":"The Conscious Fund","slug":"the-conscious-fund"},{"name":"Negev Capital","slug":"negev-capital"},{"name":"LOK Capital","slug":"lok-capital"}],"people":[{"fullName":"Warren Wright","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/warren-wright-70023227/","initials":"WW","avatarBgColor":"#534AB7"},{"fullName":"Sa'ad Shah","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/saadshah1/","initials":"SS","avatarBgColor":"#1D9E75"},{"fullName":"Naseem Saloojee","role":"Partner","linkedinURL":"","initials":"NS","avatarBgColor":"#A32D2D"},{"fullName":"Michael Franks","role":"Partner","linkedinURL":"","initials":"MF","avatarBgColor":"#712B13"}],"portfolio":[{"name":"CaaMTech","sector":"Healthtech / Biotech","stage":"Series A","year":2022},{"name":"DAMONA Pharmaceuticals","sector":"Healthtech / Biotech","stage":"Seed","year":2021},{"name":"Onsero Therapeutics","sector":"Healthtech / Biotech","stage":"Seed","year":2022},{"name":"Eve","sector":"Healthtech / Biotech","stage":"Seed","year":2022},{"name":"Apollo Neuroscience","sector":"Healthtech / Biotech","stage":"Seed","year":2022},{"name":"Beckley Psytech","sector":"Healthtech / Biotech","stage":"Series A","year":2021}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://noeticfund.com/","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec72","slug":"arctern-ventures","name":"ArcTern Ventures","type":"VC","conviction":"pure-play","stages":["Series A","Series B+"],"sectors":["Climate / Energy"],"ticket":{"min":2000000,"max":10000000,"currency":"CAD","label":"$2M-$10M"},"leadFollow":"Lead","province":["QC","ON","BC","AB"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2012,"fundSize":{"value":450,"currency":"CAD","vintage":2024},"activity":"Tres actif","lastDealDate":"2026-03-25","website":"https://www.arcternventures.com/","linkedinURL":"https://www.linkedin.com/company/arctern-ventures","logo":"/assets/vc-logos/arctern-ventures.png?v=4","logoBgColor":"#534AB7","thesis":{"en":"ArcTern Ventures is a pure-play climate tech investor and one of the largest VC funds dedicated to climate worldwide. The firm invests at pre-seed, seed and Series A in companies decarbonizing energy, industry, transportation, agriculture and buildings. Cheques of $2M to $10M, frequently as lead, with a new Fund III closed at $450M CAD (US$335M) in 2024 from major institutional LPs. Offices in Toronto, Oslo and San Francisco provide deep access to industrial experts, corporate partners and pilot customers in Europe and North America. The team targets scientific and industrial founders capable of delivering measurable carbon impact at scale.","fr":"ArcTern Ventures est un pure-play climate tech, l'un des plus grands fonds VC dedies au climat au monde. Investit en pre-amorcage, amorcage et serie A dans les entreprises qui decarbonent l'energie, l'industrie, les transports, l'agriculture et les batiments. Cheques de 2 M$ a 10 M$, avec lead frequent, et un nouveau Fund III ferme a 450 M$ CA en 2024 (335 M$ US) aupres de grands institutionnels. Bureaux a Toronto, Oslo et San Francisco, ce qui donne acces a un reseau profond d'experts industriels, de partenaires corporates et de clients pilotes en Europe et en Amerique du Nord. Cible les fondateurs scientifiques et industriels capables de livrer un impact carbone mesurable a grande echelle."},"tagline":{"en":"Climate-first capital for hard-tech founders.","fr":"Capital climat-first pour fondateurs deeptech."},"valueAdd":{"en":["Climate expertise","Industrial pilots","Corporate intros","Europe network","Carbon measurement"],"fr":["Expertise climat","Pilotes industriels","Intros corporates","Reseau Europe","Mesure carbone"]},"followOnNarrative":{"en":"Reserves substantial follow-on capital and frequently leads or co-leads Series B alongside global climate growth funds.","fr":"Reserve un capital follow-on important et lead ou co-lead souvent les series B aux cotes des fonds climat growth mondiaux."},"keyQuestions":{"en":["What is your unit economics at 10x scale, and what drives it?","Which industrial off-taker has signed an LOI or paid pilot?","How do you measure and verify carbon impact per dollar deployed?"],"fr":["Quels sont vos unit economics a 10x l'echelle, et qu'est-ce qui les drive?","Quel off-taker industriel a signe une LOI ou un pilote paye?","Comment mesurez-vous et verifiez-vous l'impact carbone par dollar deploye?"]},"coInvestors":[{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Chrysalix Venture Capital","slug":"chrysalix-venture-capital"},{"name":"Energy Impact Partners","slug":"energy-impact-partners"},{"name":"Active Impact Investments","slug":"active-impact-investments"},{"name":"Export Development Canada","slug":"export-development-canada"}],"people":[{"fullName":"Murray McCaig","role":"Managing Partner","linkedinURL":"https://ca.linkedin.com/in/mmccaig","initials":"MM","avatarBgColor":"#534AB7"},{"fullName":"Tom Rand","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/tom-rand-climate/","initials":"TR","avatarBgColor":"#1D9E75"},{"fullName":"Marc Faucher","role":"Managing Partner","linkedinURL":"https://ca.linkedin.com/in/marcfaucher","initials":"MF","avatarBgColor":"#A32D2D"},{"fullName":"Mira Inbar","role":"Partner","linkedinURL":"https://www.linkedin.com/in/mira-inbar/","initials":"MI","avatarBgColor":"#712B13"},{"fullName":"Tyler Christie","role":"Partner","linkedinURL":"","initials":"TC","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"Cyclic Materials","sector":"Climate / Energy","stage":"Series B","year":2024},{"name":"Normal Computing","sector":"Deeptech / Hardware","stage":"Series A","year":2026},{"name":"Harbinger Motors","sector":"Climate / Energy","stage":"Series B","year":2025},{"name":"Hyperlume","sector":"Deeptech / Hardware","stage":"Seed","year":2025},{"name":"King Energy","sector":"Climate / Energy","stage":"Seed","year":2024},{"name":"Hydrostor","sector":"Climate / Energy","stage":"Series B+","year":2019},{"name":"GHGSat","sector":"Climate / Energy","stage":"Series B+","year":2020}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.arcternventures.com/team/","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec73","slug":"espresso-capital","name":"Espresso Capital","type":"Other","conviction":"tech-actif","stages":["Series B+"],"sectors":["SaaS / Vertical SaaS","AI / ML","Fintech / Insurtech","Healthtech / Biotech","Devtools / Infra"],"ticket":{"min":1000000,"max":30000000,"currency":"CAD","label":"$1M to $30M CAD"},"leadFollow":"Lead","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2009,"fundSize":{"value":500,"currency":"CAD","vintage":2025},"activity":"Tres actif","lastDealDate":"2026-01-01","website":"https://espressocapital.com","linkedinURL":"https://www.linkedin.com/company/espresso-capital/","logo":"/assets/vc-logos/espresso-capital.png?v=4","logoBgColor":"#0EA5E9","thesis":{"en":"Espresso Capital provides venture debt to fast-growing, sponsor-backed software and technology companies in the United States, Canada and the UK that deliver mission-critical or core operations solutions to business customers. The firm targets B2B solutions with predictable recurring revenue, deploying facilities of $1M to $30M (lines of credit, term loans). Espresso is a non-dilutive alternative to traditional venture capital, ideal for extending runway, financing an acquisition or bridging to a round. The platform suits disciplined founders focused on metrics and capital structure who want to optimize ownership without sacrificing control.","fr":"Espresso Capital fournit du venture debt aux entreprises logicielles et technologiques en forte croissance, soutenues par des sponsors institutionnels au Canada, aux Etats-Unis et au Royaume-Uni. La firme cible les solutions B2B mission-critical avec des revenus recurrents predictibles, deployant des facilites de 1 M$ a 30 M$ (lignes de credit, term loans). C'est une alternative non dilutive au capital de risque traditionnel, ideale pour prolonger le runway, financer une acquisition ou ponter une ronde. Espresso s'adresse aux fondateurs disciplines sur la metrique, qui cherchent a optimiser leur table de capitalisation sans sacrifier le controle."},"tagline":{"en":"Non-dilutive growth capital for SaaS founders.","fr":"Capital non dilutif pour fondateurs SaaS."},"valueAdd":{"en":["Non-dilutive capital","Speed to close","Flexible structure","Bridge financing","Cap table friendly"],"fr":["Capital non dilutif","Closing rapide","Structure flexible","Financement de pont","Cap table preserve"]},"followOnNarrative":{"en":"Lines often expand 2-3x as ARR grows, and Espresso frequently re-underwrites alongside new equity rounds to extend runway without dilution.","fr":"Les lignes evoluent souvent de 2 a 3 fois avec la croissance de l'ARR, et Espresso souscrit a nouveau lors des nouvelles rondes equity pour prolonger le runway sans dilution."},"keyQuestions":{"en":["What is your gross retention and net revenue retention by cohort?","How quickly can you reach EBITDA breakeven if you cut growth spend?","Who is the equity sponsor and what is their reserve commitment?"],"fr":["Quelle est votre retention brute et nette par cohorte?","A quelle vitesse pouvez-vous atteindre le seuil EBITDA en coupant la depense de croissance?","Qui est le sponsor equity et quelle est sa reserve de capital?"]},"coInvestors":[{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"OMERS Ventures","slug":"omers-ventures"},{"name":"Georgian","slug":"georgian"},{"name":"Yaletown Partners","slug":"yaletown-partners"},{"name":"Vistara Growth","slug":"vistara-growth"}],"people":[{"fullName":"Alkarim Jivraj","role":"CEO","linkedinURL":"https://www.linkedin.com/in/alkarimjivraj/","initials":"AJ","avatarBgColor":"#534AB7"},{"fullName":"Will Hutchins","role":"Managing Director","linkedinURL":"https://www.linkedin.com/in/willhutchins/","initials":"WH","avatarBgColor":"#1D9E75"},{"fullName":"Enio Lazzer","role":"Chief Operating Officer & CFO","linkedinURL":"","initials":"EL","avatarBgColor":"#A32D2D"},{"fullName":"Will Jin","role":"Head of Credit","linkedinURL":"","initials":"WJ","avatarBgColor":"#712B13"},{"fullName":"Gary Yurkovich","role":"Executive Chairman and Founder","linkedinURL":"","initials":"GY","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"Tasktop","sector":"Devtools / Infra","stage":"Series B+","year":2019},{"name":"Vidyard","sector":"SaaS / Vertical SaaS","stage":"Series B+","year":2021},{"name":"Snapcommerce","sector":"Marketplace / Consumer","stage":"Series B+","year":2022},{"name":"FreshBooks","sector":"SaaS / Vertical SaaS","stage":"Series B+","year":2020},{"name":"Klue","sector":"SaaS / Vertical SaaS","stage":"Series B+","year":2023}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://espressocapital.com/about/","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec74","slug":"cti-life-sciences","name":"CTI Life Sciences","type":"VC","conviction":"pure-play","stages":["Seed","Series A","Series B+"],"sectors":["Healthtech / Biotech"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Not disclosed"},"leadFollow":"Lead","province":["QC","ON"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2006,"fundSize":{"value":112,"currency":"CAD","vintage":2024},"activity":"Actif","lastDealDate":"2026-01-01","website":"https://www.ctisciences.com/","linkedinURL":"https://ca.linkedin.com/company/cti-lsf","logo":"/assets/vc-logos/cti-life-sciences.png?v=4","logoBgColor":"#10B981","thesis":{"en":"CTI Life Sciences Fund is an established Montreal biotech venture investor, deploying its third fund (CTI LSF III), which held a $100M first close. It backs pre-clinical and clinical-stage therapeutics companies in Canada and the United States, often leading rounds, with roughly $345M CAD under management across three funds.","fr":"CTI Life Sciences Fund est un investisseur biotech montrealais etabli, qui deploie son troisieme fonds (CTI LSF III), dont le premier closing s'est eleve a 100 M$. Le fonds soutient des entreprises de therapeutique au stade preclinique et clinique au Canada et aux Etats-Unis, souvent comme meneur, avec environ 345 M$ CAD sous gestion sur trois fonds."},"tagline":{"en":"Pre-clinical and clinical-stage biotech investing.","fr":"Investissement biotech, du preclinique au clinique."},"valueAdd":{"en":["Two decades of biotech investing","Pre-clinical to clinical guidance","North American syndicate network","Lead investor capacity","Therapeutic development expertise"],"fr":["Deux decennies d'investissement biotech","Accompagnement du preclinique au clinique","Reseau de syndication nord-americain","Capacite d'investisseur meneur","Expertise du developpement therapeutique"]},"followOnNarrative":{"en":"CTI Life Sciences Fund follows its therapeutics companies through clinical milestones and co-leads later rounds with specialist US and Canadian biotech investors. Follow-on conviction is tied to clinical data readouts.","fr":"CTI Life Sciences Fund suit ses entreprises de therapeutique a travers les jalons cliniques et co-mene les tours ulterieurs avec des investisseurs biotech specialises americains et canadiens. La conviction de suivi est liee aux resultats des donnees cliniques."},"keyQuestions":{"en":["What is your lead asset, and what does the next data readout need to show?","How strong and defensible is the underlying intellectual property?","What is the realistic partnering or exit path for your indication?"],"fr":["Quel est votre actif principal, et que doit demontrer le prochain resultat de donnees?","Quelle est la solidite et la defendabilite de la propriete intellectuelle sous-jacente?","Quel est le chemin realiste de partenariat ou de sortie pour votre indication?"]},"coInvestors":[],"people":[],"portfolio":[{"name":"Find Therapeutics","sector":"Healthtech / Biotech","stage":"Series A","year":2026},{"name":"Oligon Therapeutics","sector":"Healthtech / Biotech","stage":"2025","year":null}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.ctisciences.com/","lastVerifiedAt":"2026-05-20","editorialLevel":"Long tail (FR only)"},{"id":"rec75","slug":"futuresight","name":"FutureSight","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed"],"sectors":["AI / ML"],"ticket":{"min":250000,"max":1000000,"currency":"CAD","label":"$250K-$1M"},"leadFollow":"Lead","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2019,"fundSize":{"value":15,"currency":"CAD","vintage":2025},"activity":"Actif","lastDealDate":"2025-09-01","website":"https://futuresight.ventures/","linkedinURL":"https://www.linkedin.com/company/futuresightventures","logo":"/assets/vc-logos/futuresight.png?v=4","logoBgColor":"#3B82F6","thesis":{"en":"Toronto-based venture studio for vertical B2B AI founders. FutureSight co-founds and finances companies from day zero through an AI Company Creation Fund of $15M closed in November 2025. The model is tech-actif with a logic of company creation rather than passive investing. The firm targets technical founders with the ambition to operate the businesses themselves, providing seed capital plus the studio infrastructure (product design, GTM, finance, talent) needed to launch. Built for founders who want to ship a vertical AI business with institutional backing from inception.","fr":"Studio de venture torontois pour les fondateurs en IA B2B verticale. FutureSight co-fonde et finance dès le jour zéro avec un AI Company Creation Fund de 15 M$ qui a clôturé en novembre 2025. Approche tech-actif avec une logique de création d'entreprises plutôt que de simple investissement. Cible fondateurs techniques avec ambition d'opérer eux-mêmes."},"tagline":{"en":"Day-zero co-founding for vertical AI.","fr":"Co-fondation jour zero pour l'IA verticale."},"valueAdd":{"en":["Day-zero co-founding","Vertical AI expertise","Venture studio playbook","Toronto AI network","Operator depth"],"fr":["Co-fondation jour zéro","Expertise IA verticale","Playbook venture studio","Réseau IA torontois","Profondeur opérateur"]},"followOnNarrative":{"en":"The $15M AI Company Creation Fund (closed Nov 2025) supports portfolio companies from day zero through their first institutional seed round, with active syndication to seed leads in the Toronto AI network.","fr":"Le AI Company Creation Fund de 15 M$ (clôturé en novembre 2025) accompagne les sociétés du jour zéro jusqu'à leur première ronde seed institutionnelle, avec syndication active vers les leads seed du réseau IA torontois."},"keyQuestions":{"en":["What vertical pain point are you solving and why does AI win there?","How will you assemble a founding team that combines domain and ML expertise?","What does your data moat look like 12 and 24 months in?"],"fr":["Quel point de douleur vertical résolvez-vous et pourquoi l'IA gagne-t-elle là?","Comment assemblerez-vous une équipe fondatrice combinant expertise métier et ML?","À quoi ressemble votre fossé de données à 12 et 24 mois?"]},"coInvestors":[{"name":"GroundBreak Ventures","slug":"groundbreak-ventures"},{"name":"Ontario Centre of Innovation","slug":"ontario-centre-of-innovation"},{"name":"Maple Leaf Angels","slug":"maple-leaf-angels"},{"name":"Garage Capital","slug":"garage-capital"}],"people":[{"fullName":"John Carbrey","role":"Managing Partner","linkedinURL":"","initials":"JC","avatarBgColor":"#534AB7"},{"fullName":"Prathna Ramesh","role":"Partner, Capital and Talent","linkedinURL":"https://www.linkedin.com/in/prathnaramesh/","initials":"PR","avatarBgColor":"#1D9E75"},{"fullName":"Alan Smith","role":"Operating Partner","linkedinURL":"https://www.linkedin.com/in/thinksmith/","initials":"AS","avatarBgColor":"#A32D2D"},{"fullName":"Krista LaRiviere","role":"Operating Partner","linkedinURL":"","initials":"KL","avatarBgColor":"#712B13"},{"fullName":"Dennis Ensing","role":"Venture Partner","linkedinURL":"","initials":"DE","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"Mercata","sector":"AI / WealthTech","stage":"Pre-seed","year":2024},{"name":"Crewscope","sector":"AI / ConstructionTech","stage":"Pre-seed","year":2025},{"name":"Addie","sector":"AI / EdTech","stage":"Pre-seed","year":2024},{"name":"CaringAI","sector":"AI / HealthTech","stage":"Pre-seed","year":2024},{"name":"Medivox","sector":"AI / MedTech","stage":"Pre-seed","year":2024}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://futuresight.ventures/portfolio-companies/","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec76","slug":"rbcx","name":"RBCx","type":"CVC","conviction":"cvc","stages":["Seed","Series A","Series B+"],"sectors":["Fintech / Insurtech","AI / ML","SaaS / Vertical SaaS","Climate / Energy","Healthtech / Biotech"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Strategic CVC, multi-stage"},"leadFollow":"Both","province":["ON","QC","BC","AB","NS","MB","SK","NB","NL","PE"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN","FR"],"founded":2017,"fundSize":null,"activity":"Actif","lastDealDate":"2026-04-13","website":"https://www.rbcx.com/","linkedinURL":"https://ca.linkedin.com/company/rbcx","logo":"/assets/vc-logos/rbcx.png?v=4","logoBgColor":"#0EA5E9","thesis":{"en":"RBCx is Royal Bank of Canada's tech banking and innovation platform, born from the merger of RBC Ventures and RBC's Capital arm. Operating four groups (banking, capital, platform, ventures), it supports Canadian tech founders across all stages, from seed strategic checks to growth equity. Direct investments include Mydoh, Dr.Bill, Ownr, Storspay and Fidel API, plus LP positions in Canadian VC funds focused on tech, life sciences and climate (Highline Beta, StandUp Ventures, Active Impact Investments). 30 direct investments to date. Latest investment in Mydoh on August 1, 2025.","fr":"RBCx est la plateforme tech-banking et innovation de la Banque Royale du Canada, issue de la fusion de RBC Ventures et du bras Capital de RBC. Quatre groupes opérationnels (banking, capital, platform, ventures) qui appuient les fondateurs tech canadiens à tous les stades, du chèque stratégique seed au capital de croissance. Investissements directs incluant Mydoh, Dr.Bill, Ownr, Storspay et Fidel API, plus positions LP dans des fonds VC canadiens (Highline Beta, StandUp Ventures, Active Impact Investments). 30 investissements directs à ce jour. Dernier investissement dans Mydoh le 1er août 2025."},"tagline":{"en":"Royal Bank's tech banking + venture platform.","fr":"Plateforme banque tech et venture de RBC."},"valueAdd":{"en":["RBC bank distribution channel","Multi-stage flexibility","Tech banking + capital combined","LP position in multiple Canadian VCs","National coverage with bilingual operations"],"fr":["Canal de distribution banque RBC","Flexibilité multi-stade","Banking tech et capital intégrés","Position LP dans plusieurs VC canadiens","Couverture nationale et bilingue"]},"followOnNarrative":{"en":"RBCx combines strategic equity with RBC tech-banking services and can support founders across stages through direct checks and LP relationships with Canadian VCs. Follow-on is anchored on commercial fit with RBC's client base and ecosystem.","fr":"RBCx combine equity strategique et services tech-banking de RBC, et peut accompagner les fondateurs a tous les stades via cheques directs et relations LP avec les VC canadiens. Le suivi est ancre sur l'adequation commerciale avec la clientele et l'ecosysteme RBC."},"keyQuestions":{"en":["How does your product or distribution complement RBC's banking client base or beyond-banking strategy?","Are you looking for strategic capital, tech banking services, or both from RBCx?","Which RBCx portfolio company would be a natural design partner or customer?"],"fr":["En quoi votre produit ou votre distribution complète-t-il la clientèle bancaire de RBC ou sa stratégie au-delà du banking?","Cherchez-vous du capital stratégique, des services tech-banking, ou les deux auprès de RBCx?","Quelle entreprise du portefeuille RBCx serait un partenaire de design ou un client naturel?"]},"coInvestors":[{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"Golden Ventures","slug":"golden-ventures"},{"name":"Portage Ventures","slug":"portage-ventures"},{"name":"Highline Beta","slug":"highline-beta"},{"name":"StandUp Ventures","slug":"standup-ventures"},{"name":"Active Impact Investments","slug":"active-impact-investments"}],"people":[{"fullName":"Sid Paquette","role":"Head, RBCx","linkedinURL":"https://www.linkedin.com/in/sidpaquette/","initials":"SP","avatarBgColor":"#534AB7"},{"fullName":"Shikha Bhuchar","role":"Head, Strategy and Investments","linkedinURL":"https://www.linkedin.com/in/shikhabhuchar/","initials":"SB","avatarBgColor":"#1D9E75"},{"fullName":"John Rikhtegar","role":"Director, Capital Investments","linkedinURL":"","initials":"JR","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"pH7 Technologies","sector":"Climate / Energy","stage":"Series B+","year":2026},{"name":"Taiv","sector":"AI / ML","stage":"Series A","year":2025},{"name":"Flosonics Medical","sector":"Healthtech / Biotech","stage":"Series B+","year":2025},{"name":"Mydoh","sector":"Fintech / Insurtech","stage":"Strategic","year":2025},{"name":"Dr.Bill","sector":"Healthtech / Biotech","stage":"Strategic","year":2024},{"name":"Ownr","sector":"SaaS / Vertical SaaS","stage":"Strategic","year":2023},{"name":"Fidel API","sector":"Fintech / Insurtech","stage":"Series B+","year":2022}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.rbcx.com/our-leadership/","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec77","slug":"fonds-ecofuel","name":"Fonds Ecofuel","type":"VC","conviction":"pure-play","stages":["Pre-seed","Seed"],"sectors":["Climate / Energy"],"ticket":{"min":100000,"max":1000000,"currency":"CAD","label":"$100k to $1M CAD"},"leadFollow":"Both","province":["QC","ON"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2017,"fundSize":{"value":40.6,"currency":"CAD","vintage":2019},"activity":"Selectif","lastDealDate":null,"website":"https://fondsecofuel.ca","linkedinURL":"https://www.linkedin.com/company/fonds-ecofuel","logo":"/assets/vc-logos/fonds-ecofuel.png?v=4","logoBgColor":"#F97316","thesis":{"en":"Fonds Ecofuel is a Montreal cleantech venture fund investing pre-seed and seed equity in startups commercializing clean technologies. Founded in 2017 and led by cleantech veteran Andree-Lise Methot, the roughly $40M fund holds a portfolio of about 21 cleantech companies.","fr":"Le Fonds Ecofuel est un fonds de capital de risque cleantech montrealais qui investit en equity au pre-amorcage et a l'amorcage dans des startups commercialisant des technologies propres. Fonde en 2017 et porte par la veterane du cleantech Andree-Lise Methot, le fonds d'environ 40 M$ detient un portefeuille d'environ 21 entreprises."},"tagline":{"en":"Pre-seed and seed equity for cleantech.","fr":"Capital d'amorcage pour les technologies propres."},"valueAdd":{"en":["Cleantech commercialization expertise","Veteran climate-investor leadership","Quebec energy and industry network","Pre-seed capital access","Long-horizon support"],"fr":["Expertise de commercialisation cleantech","Leadership d'une investisseuse climat chevronnee","Reseau quebecois energie et industrie","Acces au capital de pre-amorcage","Accompagnement a long horizon"]},"followOnNarrative":{"en":"Fonds Ecofuel follows selectively into its cleantech portfolio and connects companies to larger climate funds and strategic partners for scale-up rounds. Follow-on depends on technology de-risking and first commercial contracts.","fr":"Le Fonds Ecofuel suit selectivement son portefeuille cleantech et connecte les entreprises a des fonds climat plus importants et a des partenaires strategiques pour les tours de mise a l'echelle. Le suivi depend de la reduction du risque technologique et des premiers contrats commerciaux."},"keyQuestions":{"en":["How far is your clean technology from a first commercial deployment?","What is the unit economics story once subsidies are stripped out?","Who pays first, and why now?"],"fr":["A quelle distance votre technologie propre se trouve-t-elle d'un premier deploiement commercial?","Quel est le recit des unit economics une fois les subventions retirees?","Qui paie en premier, et pourquoi maintenant?"]},"coInvestors":[],"people":[{"fullName":"Andree-Lise Methot","role":"Founder","linkedinURL":"","initials":"AM","avatarBgColor":"#534AB7"},{"fullName":"Richard Cloutier","role":"Managing Director","linkedinURL":"","initials":"RC","avatarBgColor":"#1D9E75"},{"fullName":"Johanne Sevigny","role":"Managing Director","linkedinURL":"","initials":"JS","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Tengiva","sector":"Climate / Energy","stage":"2025","year":null},{"name":"Rithmik Solutions","sector":"Climate / Energy","stage":"2024","year":null},{"name":"ChrysaLabs","sector":"Climate / Energy","stage":"","year":null}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://fondsecofuel.ca/fund/our-investments/?lang=en","lastVerifiedAt":"2026-05-20","editorialLevel":"Long tail (FR only)"},{"id":"rec78","slug":"thin-air-labs","name":"Thin Air Labs","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed","Series A"],"sectors":["SaaS / Vertical SaaS","AI / ML","Healthtech / Biotech","Climate / Energy","Marketplace / Consumer"],"ticket":{"min":250000,"max":1500000,"currency":"CAD","label":"$250k to $1.5M CAD"},"leadFollow":"Both","province":["AB","SK","MB"],"hq":{"city":"Calgary","region":"AB"},"languages":["EN"],"founded":2020,"fundSize":{"value":20,"currency":"CAD","vintage":2023},"activity":"Actif","lastDealDate":"2025-10-08","website":"https://www.thinairlabs.ca/","linkedinURL":"https://ca.linkedin.com/company/thin-air-labs","logo":"/assets/vc-logos/thin-air-labs.png?v=4","logoBgColor":"#F97316","thesis":{"en":"Thin Air Labs is a Calgary-based venture capital firm and growth studio publicly launched in January 2020, co-founded by James Lochrie, Jim Gibson and Greg Hart (Gibson and Hart have since left), with Andrew Browne also co-founding. Fund I closed in October 2023 with nearly $20M CAD raised primarily from Alberta investors, described as a Prairie-focused venture fund. 24 portfolio companies to date including Arbor (carbon management). The firm pairs capital with a services arm (Funding Catalyst) that has helped portfolio startups secure more than $80M in non-dilutive capital. Targets pre-seed and seed in B2B, commercial services, healthcare, gaming and technology.","fr":"Thin Air Labs est un fonds de capital de risque et studio de croissance basé à Calgary, lancé publiquement en janvier 2020, co-fondé par James Lochrie, Jim Gibson et Greg Hart (Gibson et Hart sont depuis partis), avec Andrew Browne également co-fondateur. Le Fonds I a clôturé en octobre 2023 avec près de 20 M$ CAD levés principalement auprès d'investisseurs albertains, décrit comme un fonds focus Prairies. 24 entreprises en portefeuille à ce jour dont Arbor (gestion carbone). La firme combine capital et un bras de services (Funding Catalyst) qui a aidé ses startups à sécuriser plus de 80 M$ de capital non dilutif. Cible pre-seed et seed en B2B, services commerciaux, santé, gaming, technologie."},"tagline":{"en":"Calgary venture studio + Prairie-focused fund.","fr":"Studio de venture calgarien et fonds focus Prairies."},"valueAdd":{"en":["Prairie geographic focus","Venture studio + fund hybrid","Funding Catalyst non-dilutive support","Operator co-founders","Calgary tech ecosystem hub"],"fr":["Focus géographique Prairies","Hybride studio venture et fonds","Soutien non dilutif Funding Catalyst","Co-fondateurs opérateurs","Hub écosystème tech Calgary"]},"followOnNarrative":{"en":"Thin Air Labs reserves selectively for follow-on at seed and pairs equity capital with non-dilutive grant support via Funding Catalyst. The team syndicates Series A with Alberta and pan-Canadian co-investors and expects monthly KPI updates.","fr":"Thin Air Labs conserve sélectivement des réserves pour le seed et combine le capital équité avec un soutien non dilutif via Funding Catalyst. L'équipe syndique les Séries A avec des co-investisseurs albertains et pancanadiens et attend des KPI mensuels."},"keyQuestions":{"en":["Are you incorporated and operating in the Prairie provinces (AB, SK, MB)?","Do you need help unlocking non-dilutive capital alongside your equity round?","Which Thin Air Labs services or co-builders would most accelerate your next milestone?"],"fr":["Êtes-vous incorporé et opérationnel dans les provinces des Prairies (AB, SK, MB)?","Avez-vous besoin d'aide pour débloquer du capital non dilutif en complément de votre tour d'équité?","Quels services ou co-builders de Thin Air Labs accéléreraient le plus votre prochain jalon?"]},"coInvestors":[{"name":"Alberta Enterprise Corporation","slug":"alberta-enterprise-corporation"},{"name":"ATB Financial","slug":"atb-financial"},{"name":"Accelerate Fund","slug":"accelerate-fund"},{"name":"BDC Capital","slug":"bdc-capital"}],"people":[{"fullName":"James Lochrie","role":"Co-founder & Managing Partner, CEO","linkedinURL":"https://www.linkedin.com/in/jameslochrie/","initials":"JL","avatarBgColor":"#534AB7"},{"fullName":"Andrew Browne","role":"Co-founder, Head of Business Development","linkedinURL":"","initials":"AB","avatarBgColor":"#1D9E75"},{"fullName":"Ansh Dhawan","role":"Analyst, Thin Air Capital","linkedinURL":"https://www.linkedin.com/in/anshdhawann/","initials":"AD","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"PhenoTips","sector":"Healthtech / Biotech","stage":"Seed","year":2025},{"name":"PayShepherd","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2024},{"name":"Arbor","sector":"Climate / Energy","stage":"Seed","year":2024},{"name":"Nimble Science","sector":"Healthtech / Biotech","stage":"Seed","year":2024}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.thinairlabs.ca/","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec79","slug":"graphite-ventures","name":"Graphite Ventures","type":"VC","conviction":"tech-actif","stages":["Seed","Series A"],"sectors":["AI / ML","Cybersecurity","Fintech / Insurtech","SaaS / Vertical SaaS","Healthtech / Biotech","Devtools / Infra","Deeptech / Hardware","Marketplace / Consumer"],"ticket":{"min":500000,"max":1500000,"currency":"CAD","label":"$500k to $1.5M CAD"},"leadFollow":"Both","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2008,"fundSize":{"value":110,"currency":"CAD","vintage":2022},"activity":"Actif","lastDealDate":"2026-04-01","website":"https://graphitevc.com","linkedinURL":"https://www.linkedin.com/company/graphitevc/","logo":"/assets/vc-logos/graphite-ventures.png?v=4","logoBgColor":"#A855F7","thesis":{"en":"Spin-out from MaRS IAF rebranded in 2022, Graphite invests at the early stage in B2B SaaS, fintech, proptech, digital health and capital-efficient hardware companies across Canada. The active fund Graphite IAF IV totals $100-110M with the AEC top-up. Active cadence with seven investments in 2024. The team is experienced and inherits one of the oldest Canadian tech portfolios. Graphite suits founders looking for a multi-sector lead with deep portfolio learning across Ontario tech, with both lead and follow capacity.","fr":"Spin-out du MaRS IAF rebaptisé en 2022, Graphite investit en early-stage dans le SaaS B2B, la fintech, la proptech, la santé numérique et le hardware capital-efficient à travers le Canada. Le fonds actif Graphite IAF IV totalise 100 à 110 M$ avec le top-up AEC. Cadence active avec sept investissements en 2024. Équipe expérimentée issue d'un des plus anciens portefeuilles tech canadiens."},"tagline":{"en":"MaRS IAF DNA, independent execution.","fr":"ADN MaRS IAF, execution independante."},"valueAdd":{"en":["MaRS IAF lineage","Capital-efficient hardware","B2B SaaS scaling","Active deal cadence","Pan-Canadian portfolio reach"],"fr":["Lignee MaRS IAF","Hardware capital-efficient","Mise a l'echelle SaaS B2B","Cadence active","Portee pancanadienne"]},"followOnNarrative":{"en":"Graphite IAF IV holds reserves to follow its portfolio into Series A and B, often co-investing with Real Ventures, Radical and Golden. Founders share quarterly KPI tracking and a clear path to the next round.","fr":"Graphite IAF IV conserve des reserves pour suivre ses participations en Serie A et B, souvent en co-investissement avec Real Ventures, Radical et Golden. Les fondateurs partagent un suivi trimestriel des KPIs et un plan clair vers la prochaine ronde."},"keyQuestions":{"en":["Show us the cohort retention and expansion behavior across your last 6 quarters of customers.","What is your sales cycle from first call to contract, and where does it stall?","How do you stay capital-efficient relative to peers raising 2x your round size?"],"fr":["Montrez-nous la rétention par cohorte et l'expansion sur vos 6 derniers trimestres de clients.","Quel est votre cycle de vente du premier appel au contrat, et où se bloque-t-il?","Comment restez-vous capital-efficient par rapport aux pairs qui lèvent 2x votre tour?"]},"coInvestors":[{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Real Ventures","slug":"real-ventures"},{"name":"Radical Ventures","slug":"radical-ventures"},{"name":"Golden Ventures","slug":"golden-ventures"},{"name":"Framework Venture Partners","slug":"framework-venture-partners"}],"people":[{"fullName":"Aaron Bast","role":"General Partner","linkedinURL":"https://www.linkedin.com/in/aaronbast/","initials":"AB","avatarBgColor":"#534AB7"},{"fullName":"Lance Laking","role":"General Partner","linkedinURL":"https://www.linkedin.com/in/lancelaking/","initials":"LL","avatarBgColor":"#1D9E75"},{"fullName":"Craig Leonard","role":"General Partner","linkedinURL":"https://www.linkedin.com/in/craigleonard/","initials":"CL","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"MedMe","sector":"Healthtech / Biotech","stage":"Series A","year":2022},{"name":"Nicoya","sector":"Healthtech / Biotech","stage":"Series A","year":2020},{"name":"e-Zinc","sector":"Climate / Energy","stage":"Series A","year":2022},{"name":"Basetwo","sector":"AI / ML","stage":"Seed","year":2023},{"name":"Brickeye","sector":"IoT / Hardware","stage":"Series A","year":2023},{"name":"Kritik","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2024},{"name":"ACTO","sector":"SaaS / Vertical SaaS","stage":"Series A","year":2021},{"name":"Mycroft","sector":"AI / ML","stage":"Seed","year":2024},{"name":"Maxa AI","sector":"AI / ML","stage":"Seed","year":2024}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.graphitevc.com/team/","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec80","slug":"contango-digital-assets","name":"Contango Digital Assets","type":"VC","conviction":"pure-play","stages":["Pre-seed","Seed"],"sectors":["AI / ML","Web3 / Crypto"],"ticket":{"min":100000,"max":500000,"currency":"CAD","label":"$100K-$500K"},"leadFollow":"Follow","province":["QC","ON","BC","AB"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2021,"fundSize":{"value":13,"currency":"CAD","vintage":2023},"activity":"Actif","lastDealDate":"2025-09-17","website":"https://www.contango.digital/","linkedinURL":"https://www.linkedin.com/company/contango-digital-assets","logo":"/assets/vc-logos/contango-digital-assets.png?v=4","logoBgColor":"#F59E0B","thesis":{"en":"Toronto-based seed fund dedicated to Web3 and blockchain AI. Contango closed a Blockchain x AI fund of approximately US$10M in 2023. Pure-play crypto with a thesis at the intersection of AI and blockchain, where founder selection is critical. Disciplined thematic approach in an emerging category. The team brings technical credibility in both AI and decentralized infrastructure, suiting founders building at the convergence of these two frontiers with a Canadian institutional partner.","fr":"Fonds seed torontois dédié au Web3 et à l'IA blockchain. Contango a clôturé un fonds Blockchain x AI d'environ 10 M$ US en 2023. Pure-play crypto avec une thèse à l'intersection de l'IA et de la blockchain. Approche thématique disciplinée dans une catégorie où la sélection de fondateurs est critique."},"tagline":{"en":"Where blockchain meets AI capital.","fr":"Ou la blockchain rencontre le capital IA."},"valueAdd":{"en":["Crypto operating expertise","Blockchain x AI thesis","Toronto Web3 network","Token strategy support","Pure-play conviction"],"fr":["Expertise opérationnelle crypto","Thèse blockchain x IA","Réseau Web3 torontois","Soutien stratégie token","Conviction pure-play"]},"followOnNarrative":{"en":"On a roughly $10M USD Blockchain x AI vehicle closed in 2023, Contango reserves selectively for the highest-conviction names and supports founders through token launches and exchange listings. Series A leads come from the broader crypto-native syndicate rather than internal follow-on.","fr":"Sur un vehicule Blockchain x AI d'environ 10 M$ US cloture en 2023, Contango reserve de maniere selective pour les noms a plus forte conviction et accompagne les fondateurs sur les lancements de tokens et les listings exchanges. Les leads de Serie A viennent du syndicat crypto-natif plutot que d'un suivi interne."},"keyQuestions":{"en":["Why does your product require blockchain rather than a traditional stack?","How do AI and blockchain reinforce each other in your roadmap?","What is your token, regulatory, and exchange listing strategy?"],"fr":["Pourquoi votre produit nécessite-t-il la blockchain plutôt qu'une stack traditionnelle?","Comment l'IA et la blockchain se renforcent-elles dans votre feuille de route?","Quelle est votre stratégie token, réglementaire et de listing sur les exchanges?"]},"coInvestors":[],"people":[{"fullName":"Mike Grantis","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/mike-grantis-b124388a/","initials":"MG","avatarBgColor":"#534AB7"},{"fullName":"Joshua Field","role":"Managing Partner","linkedinURL":"","initials":"JF","avatarBgColor":"#1D9E75"}],"portfolio":[{"name":"Hypercycle","sector":"AI / ML","stage":"Seed","year":2025},{"name":"Hivello","sector":"Web3 / Crypto","stage":"Pre-seed","year":2024},{"name":"Assisterr","sector":"AI / ML","stage":"Seed","year":2024},{"name":"Shrapnel","sector":"Web3 / Crypto","stage":"Seed","year":2023}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.contango.digital/","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec81","slug":"fonds-de-solidarite-ftq","name":"Fonds de solidarité FTQ","type":"Public","conviction":"generaliste","stages":["Series A","Series B+"],"sectors":["SaaS / Vertical SaaS","AI / ML","Healthtech / Biotech","Climate / Energy","Deeptech / Hardware"],"ticket":{"min":2000000,"max":10000000,"currency":"CAD","label":"$2M to $10M+ CAD initial"},"leadFollow":"Both","province":["QC"],"hq":{"city":"Montreal","region":"QC"},"languages":["FR","EN"],"founded":1983,"fundSize":{"value":23000,"currency":"CAD","vintage":null},"activity":"Tres actif","lastDealDate":"2026-03-09","website":"https://www.fondsftq.com/en/","linkedinURL":"https://www.linkedin.com/company/fonds-de-solidarite-ftq/","logo":"/assets/vc-logos/fonds-de-solidarite-ftq.png?v=4","logoBgColor":"#A32D2D","thesis":{"en":"Founded in 1983, the Fonds de solidarité FTQ is the largest development capital investment network in Québec with $23B in net assets (Nov 2025). It functions as a labour-sponsored venture capital corporation (LSVCC) eligible for federal and provincial tax credits. The Fonds supports thousands of Québec companies through direct and indirect venture and growth investments. For tech, initial cheques start at $2M and total investments can exceed $10M. Anchor LP in many Canadian tech VC funds (Inovia, White Star, TandemLaunch, Diagram, AQC Capital). Strong recent push into AI-native deal sourcing via 2025 partnership with Jolt Capital.","fr":"Fondé en 1983, le Fonds de solidarité FTQ est le plus grand réseau d'investissement en capital de développement au Québec avec 23 G$ d'actif net (novembre 2025). Il fonctionne comme une société à capital de risque à vocation collective (LSVCC) admissible aux crédits d'impôt fédéraux et provinciaux. Le Fonds appuie des milliers d'entreprises québécoises via investissements en venture et croissance directs et indirects. En tech, les chèques initiaux démarrent à 2 M$ et les investissements totaux peuvent dépasser 10 M$. LP ancre dans de nombreux fonds VC tech canadiens (Inovia, White Star, TandemLaunch, Diagram, AQC Capital). Poussée récente vers le sourcing IA avec un partenariat 2025 avec Jolt Capital."},"tagline":{"en":"Quebec's largest development capital, labour-sponsored.","fr":"Le plus gros capital de développement québécois, base syndicale."},"valueAdd":{"en":["Largest QC development capital pool","Anchor LP in Canadian tech funds","LSVCC tax credit context","Long-term patient capital","Jolt Capital AI-sourcing partnership"],"fr":["Plus gros pool capital développement QC","LP ancre dans les fonds tech canadiens","Contexte crédit d'impôt LSVCC","Capital patient long terme","Partenariat Jolt Capital sourcing IA"]},"followOnNarrative":{"en":"With 23 G$ in net assets, the Fonds can follow on from seed to growth with cheques scaling beyond 10 M$, and amplifies follow-on indirectly via 90+ partner VC funds (Inovia, Diagram, White Star, TandemLaunch).","fr":"Avec 23 G$ d'actif net, le Fonds peut suivre du seed à la croissance avec des chèques au delà de 10 M$, et amplifie le suivi indirectement via plus de 90 fonds VC partenaires (Inovia, Diagram, White Star, TandemLaunch)."},"keyQuestions":{"en":["Are you targeting direct FTQ investment or indirect via one of its 90+ partner VC funds?","How does your business contribute to Quebec employment, which is core to the Fonds' mandate?","What is your scale-up plan and how does long-horizon LSVCC capital fit?"],"fr":["Visez-vous un investissement direct FTQ ou indirect via un de ses 90+ fonds VC partenaires?","En quoi votre entreprise contribue-t-elle à l'emploi québécois, au coeur du mandat du Fonds?","Quel est votre plan de scale-up et en quoi le capital LSVCC long horizon vous convient-il?"]},"coInvestors":[{"name":"Investissement Québec","slug":"investissement-quebec"},{"name":"Desjardins Capital","slug":"desjardins-capital"},{"name":"CDPQ","slug":"cdpq"},{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"White Star Capital","slug":"white-star-capital"},{"name":"TandemLaunch","slug":"tandemlaunch"},{"name":"Diagram Ventures","slug":"diagram-ventures"}],"people":[{"fullName":"Janie C. Béïque","role":"President and CEO","linkedinURL":"","initials":"JC","avatarBgColor":"#534AB7"},{"fullName":"Dany Pelletier","role":"Executive Vice-President, Private Equity and Impact Investing","linkedinURL":"","initials":"DP","avatarBgColor":"#1D9E75"},{"fullName":"Philippe Huneault","role":"Vice-President, Private Equity and Impact Investing, Fund Management","linkedinURL":"","initials":"PH","avatarBgColor":"#A32D2D"},{"fullName":"Isabelle Renaud","role":"Executive Vice-President, Savings Market","linkedinURL":"","initials":"IR","avatarBgColor":"#712B13"},{"fullName":"Amélie Craig","role":"Vice-President, Fonds régionaux","linkedinURL":"","initials":"AC","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"Jolt Capital","sector":"AI / VC Platform","stage":"Strategic","year":2025},{"name":"Profil électrique","sector":"Industrial / Electrical","stage":"Transfer","year":2025},{"name":"Lightspeed Commerce","sector":"SaaS / Commerce","stage":"Public","year":2024},{"name":"Novacap Industries Fund","sector":"PE (Fund LP)","stage":"2024","year":null},{"name":"Agri-Food PE Fund","sector":"Agri-Food (Fund LP)","stage":"2024","year":null}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.fondsftq.com/en/","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec82","slug":"boxone-ventures","name":"BoxOne Ventures","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed"],"sectors":["Healthtech / Biotech","Deeptech / Hardware","AI / ML"],"ticket":{"min":100000,"max":1000000,"currency":"CAD","label":"$100k to $1M CAD"},"leadFollow":"Both","province":["QC","ON"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN"],"founded":2018,"fundSize":null,"activity":"Tres actif","lastDealDate":"2025-09-01","website":"https://boxone.xyz","linkedinURL":"https://ca.linkedin.com/company/boxoneventures","logo":"/assets/vc-logos/boxone-ventures.png?v=4","logoBgColor":"#A32D2D","thesis":{"en":"BoxOne Ventures is a Montreal evergreen venture platform that invests its own capital directly in early-stage deep tech, bio and frontier software startups. Founded by the Vigilant Global team, it is among the most active early-stage investors in Canada, with more than 100 investments.","fr":"BoxOne Ventures est une plateforme de capital de risque evergreen montrealaise qui investit son propre capital directement dans des startups de deeptech, de bio et de logiciel de frontiere en amorcage. Fondee par l'equipe de Vigilant Global, elle figure parmi les investisseurs en amorcage les plus actifs au Canada, avec plus de 100 investissements."},"tagline":{"en":"Evergreen, very active, deep tech and bio.","fr":"Evergreen, tres actif, deeptech et bio."},"valueAdd":{"en":["Very high deal cadence","Deep tech and bio dual expertise","Evergreen patient capital","Global co-investor network","Scientific founder support"],"fr":["Cadence de deals tres elevee","Double expertise deeptech et bio","Capital patient evergreen","Reseau mondial de co-investisseurs","Soutien aux fondateurs scientifiques"]},"followOnNarrative":{"en":"BoxOne Ventures recycles its own capital and follows actively into its strongest deep tech and bio companies, syndicating later rounds with international investors. Follow-on is driven by scientific progress and breakout potential.","fr":"BoxOne Ventures recycle son propre capital et suit activement ses meilleures entreprises deeptech et bio, en syndiquant les tours ulterieurs avec des investisseurs internationaux. Le suivi est porte par les progres scientifiques et le potentiel de rupture."},"keyQuestions":{"en":["What scientific or technical breakthrough underpins your company?","How capital-efficient is the path to your next major proof point?","Are you building something with genuine breakout potential, not an incremental product?"],"fr":["Quelle percee scientifique ou technique sous-tend votre entreprise?","Quelle est l'efficience capitalistique du chemin vers votre prochain jalon majeur?","Construisez-vous quelque chose au veritable potentiel de rupture, et non un produit incremental?"]},"coInvestors":[],"people":[{"fullName":"Josh Felker","role":"Co-Founder","linkedinURL":"","initials":"JF","avatarBgColor":"#534AB7"},{"fullName":"Arvind Ramanathan","role":"Co-Founder","linkedinURL":"","initials":"AR","avatarBgColor":"#1D9E75"},{"fullName":"Milad Alucozai","role":"Investment Team","linkedinURL":"","initials":"MA","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Mycroft","sector":"AI / ML","stage":"Seed","year":2025},{"name":"Juvena Therapeutics","sector":"Healthtech / Biotech","stage":"","year":null},{"name":"dfuse","sector":"Deeptech / Hardware","stage":"","year":null},{"name":"Odd Burger","sector":"Marketplace / Consumer","stage":"","year":null}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://reseaucapital.com/en/investors/boxone-ventures-2/","lastVerifiedAt":"2026-05-20","editorialLevel":"Long tail (FR only)"},{"id":"rec83","slug":"accelia-capital","name":"Accelia Capital","type":"VC","conviction":"tech-actif","stages":["Seed","Series A"],"sectors":["SaaS / Vertical SaaS","Healthtech / Biotech"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Not disclosed"},"leadFollow":"Both","province":["QC","ON"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2021,"fundSize":{"value":60,"currency":"CAD","vintage":2021},"activity":"Actif","lastDealDate":"2025-01-01","website":"https://accelia.vc","linkedinURL":"https://www.linkedin.com/company/accelia-capital","logo":"/assets/vc-logos/accelia-capital.png?v=4","logoBgColor":"#534AB7","thesis":{"en":"Accelia Capital is a Montreal early-stage venture fund backing Quebec tech startups, with a focus on women-owned and women-led companies. The roughly $60M fund invests at seed and Series A, aiming to deploy about 70% of its capital in Quebec.","fr":"Accelia Capital est un fonds de capital de risque montrealais d'amorcage qui soutient des startups technologiques quebecoises, avec un accent sur les entreprises detenues ou dirigees par des femmes. Le fonds d'environ 60 M$ investit a l'amorcage et en serie A, et vise a deployer environ 70 % de son capital au Quebec."},"tagline":{"en":"Early-stage capital for women-led Quebec startups.","fr":"Du capital d'amorcage pour les startups quebecoises dirigees par des femmes."},"valueAdd":{"en":["Women-led and women-owned focus","Quebec tech ecosystem network","Seed-to-Series-A bridge","Diversity-driven sourcing","Operator and board support"],"fr":["Focus entreprises dirigees et detenues par des femmes","Reseau de l'ecosysteme tech quebecois","Pont de l'amorcage a la serie A","Sourcing axe diversite","Soutien operationnel et au conseil"]},"followOnNarrative":{"en":"Accelia Capital reserves capital for follow-on into its portfolio and helps founders package Series A rounds with Quebec and Canadian co-investors. Follow-on conviction rests on commercial traction and team execution.","fr":"Accelia Capital reserve du capital pour suivre son portefeuille et aide les fondateurs a structurer les tours de serie A avec des co-investisseurs quebecois et canadiens. La conviction de suivi repose sur la traction commerciale et l'execution de l'equipe."},"keyQuestions":{"en":["What market validation do you already have at seed?","How does your team composition strengthen your execution?","What does the path to a Quebec-anchored Series A look like?"],"fr":["Quelle validation de marche avez-vous deja a l'amorcage?","En quoi la composition de votre equipe renforce-t-elle votre execution?","A quoi ressemble le chemin vers une serie A ancree au Quebec?"]},"coInvestors":[],"people":[{"fullName":"Annick Charbonneau","role":"Co-Founder & Partner","linkedinURL":"","initials":"AC","avatarBgColor":"#534AB7"},{"fullName":"Christine Beaubien","role":"Co-Founder & Partner","linkedinURL":"","initials":"CB","avatarBgColor":"#1D9E75"},{"fullName":"Julien Letartre","role":"Partner","linkedinURL":"","initials":"JL","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Cinareo","sector":"Healthtech / Biotech","stage":"2025","year":null},{"name":"Eli Health","sector":"Healthtech / Biotech","stage":"","year":null},{"name":"Glowtify","sector":"AI / ML","stage":"","year":null},{"name":"Velix","sector":"SaaS / Vertical SaaS","stage":"","year":null}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://accelia.vc/en/team/","lastVerifiedAt":"2026-05-20","editorialLevel":"Long tail (FR only)"},{"id":"rec84","slug":"standup-ventures","name":"StandUp Ventures","type":"VC","conviction":"generaliste","stages":["Seed","Series A","Series B+"],"sectors":["SaaS / Vertical SaaS","Healthtech / Biotech","Fintech / Insurtech","AI / ML","Marketplace / Consumer"],"ticket":{"min":500000,"max":1500000,"currency":"CAD","label":"$500k to $1.5M CAD"},"leadFollow":"Both","province":["ON","QC","BC","AB"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2017,"fundSize":{"value":35,"currency":"CAD","vintage":2024},"activity":"Actif","lastDealDate":"2026-03-15","website":"https://www.standupvc.com/","linkedinURL":"https://ca.linkedin.com/company/standup-ventures","logo":"/assets/vc-logos/standup-ventures.png?v=4","logoBgColor":"#F59E0B","thesis":{"en":"StandUp Ventures is a Toronto-based seed fund led by Managing Partner Michelle McBane (ex-MaRS Discovery District) that invests exclusively in Canadian startups with at least one woman in a C-level position who holds equitable ownership. Fund II closed in 2022 at over $30M CAD, growing from Fund I's $21.5M. Sector focus on enterprise software and digital health. LP base includes CIBC, RBC, Northleaf Venture Catalyst, Teralys Capital, Vancity, BDC Capital and EDC. Recent deals: led $3.6M Reusables seed with Amplify Capital, plus Jombone (May 2025), Glassbox, Indiegraf. 15 investments in Fund II with zero write-downs reported.","fr":"StandUp Ventures est un fonds seed torontois dirigé par Michelle McBane (ex-MaRS Discovery District) qui investit exclusivement dans des startups canadiennes ayant au moins une femme en poste C-level avec une propriété équitable. Le Fonds II a clôturé en 2022 à plus de 30 M$ CAD, en croissance par rapport aux 21,5 M$ du Fonds I. Focus secteur sur le logiciel d'entreprise et la santé numérique. LP incluant CIBC, RBC, Northleaf Venture Catalyst, Teralys Capital, Vancity, BDC Capital, EDC. Deals récents : lead du seed de 3,6 M$ chez Reusables avec Amplify Capital, plus Jombone (mai 2025), Glassbox, Indiegraf. 15 investissements dans le Fonds II avec zéro dépréciation reportée."},"tagline":{"en":"Women-led seed for B2B and digital health.","fr":"Seed pour femmes fondatrices, B2B et santé numérique."},"valueAdd":{"en":["Women-led C-level requirement","B2B software and digital health depth","Strong bank LP signal (CIBC, RBC)","Zero portfolio write-downs reported","Pan-Canadian deal flow"],"fr":["Exigence femme en poste C-level","Profondeur logiciel B2B et santé numérique","Signal fort LP bancaires (CIBC, RBC)","Zéro dépréciation reportée en portefeuille","Deal flow pan-canadien"]},"followOnNarrative":{"en":"StandUp reserves capital for follow-on at the Series A milestone and syndicates with bank LP affiliates (RBCx, CIBC Innovation) plus pan-Canadian seed funds (Golden Ventures, Amplify Capital). Quarterly KPI updates and an 18 to 24 month bridge to Series A are expected.","fr":"StandUp conserve des réserves pour la Série A et syndique avec les affiliés bancaires LP (RBCx, CIBC Innovation) et les fonds seed pancanadiens (Golden Ventures, Amplify Capital). KPI trimestriels et chemin clair de 18 à 24 mois vers la Série A attendus."},"keyQuestions":{"en":["Which woman in your C-suite carries the equitable ownership requirement, and what is her track record?","Are you B2B software, digital health, or another lane (StandUp's two sweet spots)?","What is your path from seed to Series A within 18 to 24 months?"],"fr":["Quelle femme de votre comité de direction porte l'exigence de propriété équitable, et quel est son parcours?","Êtes-vous logiciel B2B, santé numérique, ou un autre couloir (les deux sweet spots de StandUp)?","Quel est votre chemin du seed à la Série A en 18 à 24 mois?"]},"coInvestors":[{"name":"Amplify Capital","slug":"amplify-capital"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"RBCx","slug":"rbcx"},{"name":"Golden Ventures","slug":"golden-ventures"},{"name":"Northleaf Venture Catalyst Fund","slug":"northleaf-venture-catalyst-fund"}],"people":[{"fullName":"Michelle McBane","role":"Managing Director","linkedinURL":"https://ca.linkedin.com/in/michellemcbane","initials":"MM","avatarBgColor":"#534AB7"},{"fullName":"Lucas Perlman","role":"Principal","linkedinURL":"https://www.linkedin.com/in/lperlman/","initials":"LP","avatarBgColor":"#1D9E75"},{"fullName":"Katheleen Eva","role":"Senior Associate","linkedinURL":"https://www.linkedin.com/in/katheleen-eva-6a289113b/","initials":"KE","avatarBgColor":"#A32D2D"},{"fullName":"Jessica Weisz","role":"Venture Partner","linkedinURL":"https://www.linkedin.com/in/jessicaweisz/","initials":"JW","avatarBgColor":"#712B13"},{"fullName":"Meredith Powell","role":"Venture Partner","linkedinURL":"https://www.linkedin.com/in/meredithjpowell/","initials":"MP","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"GridBank","sector":"AI / ML","stage":"Seed","year":2026},{"name":"Reusables","sector":"Marketplace / Consumer","stage":"Seed","year":2025},{"name":"Jombone","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2025},{"name":"Glassbox","sector":"SaaS / Vertical SaaS","stage":"Pre-seed","year":2025},{"name":"Indiegraf","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2024}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.standupvc.com/portfolio","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec85","slug":"sandpiper-ventures","name":"Sandpiper Ventures","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed","Series A"],"sectors":["Climate / Energy","AI / ML","Marketplace / Consumer","Healthtech / Biotech","Devtools / Infra","SaaS / Vertical SaaS"],"ticket":{"min":500000,"max":2000000,"currency":"CAD","label":"$500k to $2M CAD"},"leadFollow":"Both","province":["NS"],"hq":{"city":"Halifax","region":"NS"},"languages":["EN"],"founded":2020,"fundSize":{"value":30,"currency":"CAD","vintage":2025},"activity":"Selectif","lastDealDate":"2026-04-23","website":"https://sandpiper.vc","linkedinURL":"https://www.linkedin.com/company/sandpiperventures/","logo":"/assets/vc-logos/sandpiper-ventures.png?v=4","logoBgColor":"#534AB7","thesis":{"en":"Atlantic Canadian fund investing in tech companies with women and non-binary founders in the C-suite that are creating solutions in the future of work and education, environment and communities, and health and wellbeing. Sandpiper closed Fund I at over $20M in 2023. Fund II is in active fundraising in 2025 with a $4M commitment from the Government of Newfoundland. The team combines a mandate-driven thesis with sector breadth and an Atlantic anchor that opens doors to regional ecosystem support.","fr":"Fonds atlantique investissant dans des entreprises tech avec des fondatrices et fondateurs non-binaires en C-suite. Sandpiper cible le futur du travail et de l'éducation, l'environnement et les communautés, ainsi que la santé et le bien-être. Le Fonds I a clôturé à plus de 20 M$ en 2023. Le Fonds II est en levée active en 2025 avec un engagement de 4 M$ du gouvernement de Terre-Neuve."},"tagline":{"en":"Atlantic capital for women founders.","fr":"Capital atlantique pour fondatrices."},"valueAdd":{"en":["Atlantic Canada anchor","Women and non-binary founders","Future of work focus","Newfoundland LP support","Underrepresented capital access"],"fr":["Ancrage Canada atlantique","Fondatrices et fondateurs non-binaires","Focus futur du travail","Soutien LP Terre-Neuve","Accès capital sous-représenté"]},"followOnNarrative":{"en":"Sandpiper reserves capital for follow-on rounds and actively syndicates Series A with Atlantic LP partners (Build Ventures, NBIF, Innovacorp) and pan-Canadian funds. Quarterly KPI updates and a clear bridge to Series A milestones are expected.","fr":"Sandpiper conserve des réserves pour les tours subséquents et syndique activement les Séries A avec ses partenaires LP atlantiques (Build Ventures, NBIF, Innovacorp) et des fonds pancanadiens. KPI trimestriels et chemin clair vers la Série A attendus."},"keyQuestions":{"en":["What was your hardest fundraising rejection so far, and what did you learn from it?","How does your Atlantic Canada presence shape talent, customer access or strategic LP relationships?","What does your path to a Series A syndicate look like outside of Toronto and Vancouver?"],"fr":["Quel a été votre rejet de levée le plus difficile jusqu'ici, et qu'avez-vous appris?","Comment votre présence au Canada atlantique façonne-t-elle le talent, l'accès clients ou les relations LP stratégiques?","À quoi ressemble votre chemin vers un syndicat de Série A en dehors de Toronto et Vancouver?"]},"coInvestors":[{"name":"Brigus Capital","slug":"brigus-capital"},{"name":"Island Capital Partners","slug":"island-capital-partners"},{"name":"Killick Capital","slug":"killick-capital"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Build Ventures","slug":"build-ventures"},{"name":"Innovacorp","slug":"innovacorp"},{"name":"NBIF","slug":"nbif"}],"people":[{"fullName":"Cathy Bennett","role":"Partner","linkedinURL":"","initials":"CB","avatarBgColor":"#534AB7"},{"fullName":"Rhiannon Davies","role":"Partner","linkedinURL":"","initials":"RD","avatarBgColor":"#1D9E75"},{"fullName":"Sarah Young","role":"Partner","linkedinURL":"","initials":"SY","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Future Fertility","sector":"Healthtech / Biotech","stage":"Series A","year":2026},{"name":"Reusables","sector":"Marketplace / Consumer","stage":"Seed","year":2025},{"name":"Protexxa","sector":"Cybersecurity","stage":"Series A","year":2024},{"name":"QuickFacts","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2024},{"name":"Coloursmith Labs","sector":"Deeptech / Hardware","stage":"Seed","year":2023},{"name":"DeNova","sector":"Climate / Energy","stage":"Seed","year":2023},{"name":"Begin AI","sector":"AI / ML","stage":"Seed","year":2023}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://sandpiper.vc/portfolio/","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec86","slug":"amplify-capital","name":"Amplify Capital","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed","Series A"],"sectors":["Climate / Energy","Healthtech / Biotech","SaaS / Vertical SaaS"],"ticket":{"min":1000000,"max":3000000,"currency":"CAD","label":"$1M to $3M CAD"},"leadFollow":"Both","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2016,"fundSize":{"value":100,"currency":"CAD","vintage":2024},"activity":"Actif","lastDealDate":"2025-12-10","website":"https://amplifycapital.ca","linkedinURL":"https://www.linkedin.com/company/amplifycapital/","logo":"/assets/vc-logos/amplify-capital.png?v=4","logoBgColor":"#EF4444","thesis":{"en":"Amplify Capital is a Toronto-based impact fund investing in early-stage startups in Canada and the US tackling structural challenges in climate, healthcare and education with scalable technologies. Cheques of $1M to $3M CAD at pre-seed, seed and Series A. Fund III, anchored notably by VCCI, has been actively deploying since 2024 (~$100M CAD cumulative AUM across three funds). The team blends impact rigor with commercial discipline, suiting founders who want a partner that takes both financial returns and measurable impact seriously.","fr":"Amplify Capital est un fonds d'impact torontois qui investit dans des startups early-stage au Canada et aux États-Unis, attaquant des défis structurants en climat, santé et éducation avec des technologies évolutives. Tickets de 1 à 3 M$ CA, en pré amorçage, amorçage et Série A. Le Fonds III, soutenu notamment par VCCI, est en déploiement actif depuis 2024 (~100 M$ CA d'AUM cumulés sur trois fonds)."},"tagline":{"en":"Impact VC: climate, health and education, $1-3M","fr":"VC d'impact en climat, santé et éducation, 1 à 3 M$"},"valueAdd":{"en":["Impact measurement","Mission-aligned LP network","Climate / health policy expertise","GTM for regulated markets","Founder diversity focus"],"fr":["Mesure d'impact","Réseau d'investisseurs alignés mission","Expertise politiques climat et santé","GTM pour marchés réglementés","Diversité des fondateurs"]},"followOnNarrative":{"en":"Amplify reserves capital for follow-ons through Series A and partners with mission-aligned funds for Series B. The team requires annual impact reporting alongside financial KPIs.","fr":"Amplify conserve du capital pour suivre jusqu'à la Série A et s'associe à des fonds alignés sur la mission pour la Série B."},"keyQuestions":{"en":["Does your product create measurable, additional impact in climate, health or education?","Do you have a credible commercial model that does not depend solely on grants or subsidies?","Are you willing to track and report impact KPIs alongside financial performance?"],"fr":["Votre produit génère-t-il un impact mesurable et additionnel en climat, santé ou éducation ?","Disposez-vous d'un modèle commercial crédible qui ne dépend pas uniquement de subventions ?","Êtes-vous prêts à suivre et rapporter des KPI d'impact en parallèle de la performance financière ?"]},"coInvestors":[{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Active Impact Investments","slug":"active-impact-investments"},{"name":"Real Ventures","slug":"real-ventures"},{"name":"MaRS IAF","slug":"mars-iaf"},{"name":"Rhino Ventures","slug":"rhino-ventures"}],"people":[{"fullName":"Kathryn Wortsman","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/kathrynwortsman/","initials":"KW","avatarBgColor":"#534AB7"},{"fullName":"Craig Hunter","role":"Partner","linkedinURL":"https://www.linkedin.com/in/thecraighunter/","initials":"CH","avatarBgColor":"#1D9E75"},{"fullName":"Andrea Poptsis","role":"Partner","linkedinURL":"https://www.linkedin.com/in/andreapoptsis/","initials":"AP","avatarBgColor":"#A32D2D"},{"fullName":"Andrew Newton","role":"Partner","linkedinURL":"https://www.linkedin.com/in/andrewrnewton/","initials":"AN","avatarBgColor":"#712B13"},{"fullName":"Trish Nixon","role":"Partner","linkedinURL":"https://www.linkedin.com/in/trish-nixon/","initials":"TN","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"Cura","sector":"Climate / Energy","stage":"Seed","year":2025},{"name":"FEX Energy","sector":"Climate / Energy","stage":"Seed","year":2025},{"name":"Reusables","sector":"Climate / Energy","stage":"Seed","year":2025},{"name":"LyteFlo","sector":"Climate / Energy","stage":"Seed","year":2025},{"name":"ThinkLabs AI","sector":"AI / ML","stage":"Seed","year":2024},{"name":"BioIntelligence","sector":"Healthtech / Biotech","stage":"Seed","year":2024},{"name":"Carbon Upcycling","sector":"Climate / Energy","stage":"Series A","year":2022}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://amplifycapital.ca/","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec87","slug":"mars-iaf","name":"MaRS Investment Accelerator Fund (IAF)","type":"Public","conviction":"generaliste","stages":["Pre-seed","Seed","Series A"],"sectors":["SaaS / Vertical SaaS","Fintech / Insurtech","Healthtech / Biotech"],"ticket":{"min":50000,"max":500000,"currency":"CAD","label":"$50K-$500K"},"leadFollow":"Both","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2008,"fundSize":{"value":100,"currency":"CAD","vintage":null},"activity":"Tres actif","lastDealDate":"2026-04-01","website":"https://marsiaf.com/","linkedinURL":"https://www.linkedin.com/company/mars-investment-accelerator-fund","logo":"/assets/vc-logos/mars-iaf.png?v=4","logoBgColor":"#C47A2F","thesis":{"en":"The MaRS Investment Accelerator Fund (IAF) is a public seed fund managed by MaRS Discovery District, financed by the Government of Ontario. It is among Canada's most active early-stage investors (24 deals in 2025, more than 200 cumulative investments, $100M+ deployed). IAF targets Ontario-based startups at pre-seed and seed, with average cheques of ~$500K and a Sparks program from $50K. Sectorally, it covers tech, SaaS, fintech, healthtech and cleantech. The fund plays a critical role in catalyzing first rounds and attracting private co-investors.","fr":"Le MaRS Investment Accelerator Fund (IAF) est un fonds public d'amorçage géré par MaRS Discovery District, financé par le gouvernement de l'Ontario. Il figure parmi les investisseurs early-stage les plus actifs au Canada (24 deals en 2025, plus de 200 investissements cumulés, 100 M$+ déployés). IAF cible les startups ontariennes en pré amorçage et amorçage, avec un ticket moyen ~500 K$ et un programme Sparks dès 50 K$. Sectoriellement, il couvre tech, SaaS, fintech, healthtech et cleantech. Le fonds joue un rôle critique pour catalyser les premiers tours et attirer des co investisseurs privés."},"tagline":{"en":"Ontario's most active seed fund for Sparks-to-Seed","fr":"Fonds d'amorçage ontarien le plus actif (50 K$ à 500 K$)"},"valueAdd":{"en":["Catalytic seed cheque","MaRS ecosystem access","Co-investor matchmaking","Talent & advisor network","Government grants navigation"],"fr":["Ticket d'amorçage catalyseur","Accès écosystème MaRS","Mise en relation avec co investisseurs","Réseau de talents et conseillers","Navigation des subventions gouvernementales"]},"followOnNarrative":{"en":"IAF reserves capital for follow-on participation up to Series A and actively introduces founders to private VCs in its network for lead rounds. Pro-rata is selectively exercised to maintain meaningful ownership.","fr":"IAF réserve du capital pour participer aux tours subséquents jusqu'à la Série A et présente activement les fondateurs à des VC privés de son réseau pour les tours menés. Le pro rata est exercé sélectivement afin de maintenir une participation significative."},"keyQuestions":{"en":["Are you incorporated and operating in Ontario with significant local hiring or R&D?","Do you have a working prototype or early customer traction that justifies a $50K-$500K cheque?","Are you ready to leverage the MaRS ecosystem (advisors, customers, talent) alongside the capital?"],"fr":["Êtes-vous incorporés et opérationnels en Ontario, avec une part significative d'embauche ou de R&D locale ?","Disposez-vous d'un prototype fonctionnel ou d'une traction client initiale qui justifie un ticket de 50 K$ à 500 K$ ?","Êtes-vous prêts à tirer parti de l'écosystème MaRS (conseillers, clients, talents) en plus du capital ?"]},"coInvestors":[{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Real Ventures","slug":"real-ventures"},{"name":"Golden Ventures","slug":"golden-ventures"},{"name":"Globalive Capital","slug":"globalive-capital"},{"name":"Garage Capital","slug":"garage-capital"}],"people":[{"fullName":"Emil Savov","role":"Managing Director","linkedinURL":"https://ca.linkedin.com/in/emilsavov","initials":"ES","avatarBgColor":"#534AB7"},{"fullName":"Lance Laking","role":"Partner","linkedinURL":"","initials":"LL","avatarBgColor":"#1D9E75"},{"fullName":"William Ma","role":"Director of Investments","linkedinURL":"","initials":"WM","avatarBgColor":"#A32D2D"},{"fullName":"Zeeshan Ali","role":"Senior Director of Investments","linkedinURL":"","initials":"ZA","avatarBgColor":"#712B13"}],"portfolio":[{"name":"Validere","sector":"Climate / Energy","stage":"Seed","year":2017},{"name":"Forcen","sector":"Deeptech / Hardware","stage":"Series A","year":2024},{"name":"Moselle","sector":"AI / ML","stage":"Seed","year":2024},{"name":"Cavelo","sector":"Cybersecurity","stage":"Seed","year":2025},{"name":"Enurgen","sector":"Climate / Energy","stage":"Seed","year":2025},{"name":"Timesmart AI","sector":"AI / ML","stage":"Seed","year":2026}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://marsiaf.com/portfolio/","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec88","slug":"fondaction","name":"Fondaction","type":"Public","conviction":"generaliste","stages":["Seed","Series A","Series B+"],"sectors":["SaaS / Vertical SaaS","AI / ML","Healthtech / Biotech","Climate / Energy","Fintech / Insurtech"],"ticket":{"min":500000,"max":5000000,"currency":"CAD","label":"$500k to $5M CAD"},"leadFollow":"Both","province":["QC"],"hq":{"city":"Montreal","region":"QC"},"languages":["FR","EN"],"founded":1995,"fundSize":{"value":3990,"currency":"CAD","vintage":null},"activity":"Tres actif","lastDealDate":"2026-02-01","website":"https://www.fondaction.com/","linkedinURL":"https://www.linkedin.com/company/fondaction-csn/","logo":"/assets/vc-logos/fondaction.png?v=4","logoBgColor":"#14B8A6","thesis":{"en":"Fondaction is Quebec's second labour-sponsored venture capital corporation (LSVCC), founded in 1995 by the CSN union. With CAD$3.99B in net assets (Nov 2024), it deploys capital with an explicit impact lens: positive economic, social and environmental outcomes alongside financial returns. Fondaction has made 111 venture investments to date, with a bias toward enterprises that practice participatory management, social economy structures (cooperatives, employee-owned) or environmental stewardship. Anchor LP in Canadian climate funds, notably Active Impact Investments Fund III. Latest direct investment was BioAlert Solutions seed in March 2025.","fr":"Fondaction est le second fonds de capital de risque à vocation collective (LSVCC) du Québec, fondé en 1995 par le syndicat CSN. Avec 3,99 G$ d'actif net (nov. 2024), il déploie son capital avec un filtre impact explicite : retombées économiques, sociales et environnementales positives en plus du rendement financier. Fondaction a fait 111 investissements venture à ce jour, avec un biais pour les entreprises à gestion participative, les structures d'économie sociale (coopératives, propriété employés) ou les pratiques environnementales fortes. LP ancre dans les fonds climat canadiens, notamment Active Impact Investments Fonds III. Dernier investissement direct : BioAlert Solutions, seed en mars 2025."},"tagline":{"en":"Quebec's impact-first LSVCC, CSN-anchored.","fr":"Le LSVCC québécois impact, ancrage CSN."},"valueAdd":{"en":["Explicit impact lens (social, environmental)","LSVCC tax credit context","Participatory management bias","Climate fund anchor LP","Patient capital for impact ventures"],"fr":["Filtre impact explicite (social, environnemental)","Contexte crédit d'impôt LSVCC","Biais gestion participative","LP ancre des fonds climat","Capital patient pour entreprises à impact"]},"followOnNarrative":{"en":"Backed by 3,99 G$ in net assets and a long-horizon LSVCC structure, Fondaction follows on across multiple rounds when impact thesis stays intact, and also recycles via fund LP positions (Active Impact, climate vehicles).","fr":"Adossé à 3,99 G$ d'actif net et à une structure LSVCC à long horizon, Fondaction suit sur plusieurs rondes quand la thèse impact tient, et recycle aussi via ses positions de LP (Active Impact, véhicules climat)."},"keyQuestions":{"en":["What measurable impact outcome will your company deliver alongside financial returns?","Is your governance structure participatory, cooperative or employee-owned in any way?","How does your business model reduce environmental or social negative externalities at scale?"],"fr":["Quel résultat d'impact mesurable votre entreprise livrera-t-elle, en plus du rendement financier?","Votre structure de gouvernance est-elle participative, coopérative ou à propriété employés d'une façon ou d'une autre?","Comment votre modèle d'affaires réduit-il les externalités négatives environnementales ou sociales à grande échelle?"]},"coInvestors":[{"name":"Fonds de solidarité FTQ","slug":"fonds-de-solidarite-ftq"},{"name":"Investissement Québec","slug":"investissement-quebec"},{"name":"Active Impact Investments","slug":"active-impact-investments"},{"name":"Desjardins Capital","slug":"desjardins-capital"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Cycle Capital","slug":"cycle-capital"}],"people":[{"fullName":"Stéphan Morency","role":"President and CEO","linkedinURL":"","initials":"SM","avatarBgColor":"#534AB7"},{"fullName":"Claire Bisson","role":"Vice President and Chief Investment Officer","linkedinURL":"","initials":"CB","avatarBgColor":"#1D9E75"},{"fullName":"Louis de La Haye Duponse","role":"Deputy Chief Investment Officer","linkedinURL":"","initials":"LD","avatarBgColor":"#A32D2D"},{"fullName":"Jasmine Hinse","role":"Director, Investments","linkedinURL":"","initials":"JH","avatarBgColor":"#712B13"}],"portfolio":[{"name":"BioAlert Solutions","sector":"Cleantech / Water","stage":"Seed","year":2025},{"name":"Still Good","sector":"Circular Economy / Food","stage":"Growth","year":2024},{"name":"LOOP Mission","sector":"Circular Economy / Food","stage":"Growth","year":2024},{"name":"Active Impact Investments Fund III","sector":"Climate Tech (Fund LP)","stage":"2025","year":null},{"name":"SOFIAC","sector":"Energy Efficiency","stage":"Strategic","year":2022},{"name":"Angus Technopole Trust","sector":"Real Estate / Innovation","stage":"Strategic","year":2023}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.fondaction.com/en/","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec89","slug":"uceed","name":"UCeed","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed"],"sectors":["Healthtech / Biotech","Climate / Energy","Deeptech / Hardware"],"ticket":{"min":50000,"max":300000,"currency":"CAD","label":"$50k to $300k CAD"},"leadFollow":"Follow","province":["AB"],"hq":{"city":"Calgary","region":"AB"},"languages":["EN"],"founded":2019,"fundSize":{"value":30,"currency":"CAD","vintage":2019},"activity":"Tres actif","lastDealDate":null,"website":"https://www.ucalgary.ca/uceed","linkedinURL":"https://ca.linkedin.com/showcase/uceed","logo":"/assets/vc-logos/uceed.png?v=4","logoBgColor":"#EF4444","thesis":{"en":"UCeed is the University of Calgary's donor-funded, evergreen venture philanthropy platform, managed by the Innovate Calgary incubator. Across seven thematic funds it makes pre-seed and seed equity investments in research-driven Alberta startups in health, energy, neuroscience and engineering, and ranks among the most active early-stage investors in Canada with roughly 74 companies backed.","fr":"UCeed est la plateforme de venture philanthropy evergreen de l'Universite de Calgary, financee par des dons et geree par l'incubateur Innovate Calgary. A travers sept fonds thematiques, elle realise des investissements en equity au pre-amorcage et a l'amorcage dans des startups albertaines issues de la recherche en sante, energie, neuroscience et ingenierie, et figure parmi les investisseurs en amorcage les plus actifs au Canada, avec environ 74 entreprises soutenues."},"tagline":{"en":"University of Calgary's evergreen pre-seed engine.","fr":"Le moteur de pre-amorcage evergreen de l'Universite de Calgary."},"valueAdd":{"en":["University of Calgary research pipeline","Innovate Calgary incubator support","Very high deal cadence","Pre-seed capital access","Commercialization mentoring"],"fr":["Pipeline de recherche de l'Universite de Calgary","Soutien de l'incubateur Innovate Calgary","Cadence de deals tres elevee","Acces au capital de pre-amorcage","Mentorat en commercialisation"]},"followOnNarrative":{"en":"UCeed reinvests through its evergreen thematic funds and helps companies graduate to Alberta and national VCs for priced rounds. Follow-on depends on commercialization progress out of the research stage.","fr":"UCeed reinvestit via ses fonds thematiques evergreen et aide les entreprises a passer le relais a des VC albertains et nationaux pour des tours valorises. Le suivi depend des progres de commercialisation a la sortie du stade recherche."},"keyQuestions":{"en":["Is your venture rooted in University of Calgary or Alberta research?","What does the pre-seed cheque unlock toward a first commercial proof point?","What is your plan to graduate to institutional VC funding?"],"fr":["Votre entreprise est-elle ancree dans la recherche de l'Universite de Calgary ou de l'Alberta?","Que debloque le cheque de pre-amorcage vers un premier jalon commercial?","Quel est votre plan pour acceder au financement de VC institutionnel?"]},"coInvestors":[],"people":[{"fullName":"Equipe d'investissement Innovate Calgary","role":"Gestionnaire des fonds UCeed","linkedinURL":"","initials":"ED","avatarBgColor":"#534AB7"}],"portfolio":[{"name":"Hyperlume","sector":"Deeptech / Hardware","stage":"","year":null},{"name":"Fluid Biomed","sector":"Healthtech / Biotech","stage":"","year":null},{"name":"PurposeMed","sector":"Healthtech / Biotech","stage":"","year":null},{"name":"DISA Technologies","sector":"Deeptech / Hardware","stage":"","year":null}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://innovatecalgary.com/programs-funding/uceed/","lastVerifiedAt":"2026-05-20","editorialLevel":"Long tail (FR only)"},{"id":"rec90","slug":"werklund-ventures","name":"Werklund Ventures","type":"VC","conviction":"generaliste","stages":["Series B+"],"sectors":["Generalist (no thesis)"],"ticket":{"min":500000,"max":5000000,"currency":"CAD","label":"$500K-$5M"},"leadFollow":"Both","province":["AB"],"hq":{"city":"Calgary","region":"AB"},"languages":["EN"],"founded":2014,"fundSize":null,"activity":"Selectif","lastDealDate":"2025-09-17","website":"https://ventures.werklund.com/","linkedinURL":"https://www.linkedin.com/company/werklund-family-office","logo":"/assets/vc-logos/werklund-ventures.png?v=4","logoBgColor":"#10B981","thesis":{"en":"Calgary-based family office of David Werklund, founder of CCS Corp and Tervita. Werklund Ventures Ltd. was created in 2014 within the Werklund Family Office (established in 2006). Focus on energy, water and waste. Held Attabotics through to its September 2025 exit. Patient capital with a long horizon and an Albertan industrial thesis, suited for founders building hardware and resource-tech businesses that need long-cycle backing aligned with their development timelines.","fr":"Family office calgarien de David Werklund, fondateur de CCS Corp et Tervita. Werklund Ventures Ltd. a été créé en 2014 au sein du Werklund Family Office (établi en 2006). Focus sur l'énergie, l'eau et les déchets. A détenu Attabotics jusqu'à la sortie en septembre 2025. Capital patient avec horizon long et thèse industrielle albertaine."},"tagline":{"en":"Alberta family office, industrial roots.","fr":"Family office albertain, racines industrielles."},"valueAdd":{"en":["Energy and waste expertise","Family office patience","Alberta industrial network","Long-horizon capital","Operator-built history"],"fr":["Expertise énergie et déchets","Patience family office","Réseau industriel albertain","Capital long horizon","Bâti par des opérateurs"]},"followOnNarrative":{"en":"As a family office, Werklund has no fixed reserve policy and can hold positions for long cycles, as seen with Attabotics through its 2025 exit. Follow-on decisions are evaluated case by case alongside industrial co-investors like ARC Financial and Energy Impact Partners.","fr":"En tant que family office, Werklund n'a pas de politique de reserves fixe et peut tenir ses positions sur des cycles longs, comme avec Attabotics jusqu'a la sortie en 2025. Les decisions de follow-on s'evaluent au cas par cas, aux cotes de co-investisseurs industriels comme ARC Financial et Energy Impact Partners."},"keyQuestions":{"en":["How does your solution help energy, water, or waste customers de-risk operations?","What does your sales cycle look like with industrial buyers?","How do you balance equity dilution with patient long-horizon capital?"],"fr":["En quoi votre solution aide-t-elle les clients énergie, eau ou déchets à réduire les risques?","À quoi ressemble votre cycle de vente avec des acheteurs industriels?","Comment équilibrez-vous la dilution avec un capital patient à long horizon?"]},"coInvestors":[{"name":"Energy Impact Partners","slug":"energy-impact-partners"},{"name":"ARC Financial","slug":"arc-financial"},{"name":"Alberta Enterprise Corporation","slug":"alberta-enterprise-corporation"}],"people":[{"fullName":"David Werklund","role":"Founder & Chairman","linkedinURL":"","initials":"DW","avatarBgColor":"#534AB7"},{"fullName":"Cameron Hurst","role":"Chief Investment Officer","linkedinURL":"https://www.linkedin.com/in/cameron-b-hurst-bb112140/","initials":"CH","avatarBgColor":"#1D9E75"}],"portfolio":[{"name":"RS Poles","sector":"Deeptech / Hardware","stage":"Series B+","year":2022},{"name":"Intelligent Wellhead Systems","sector":"Climate / Energy","stage":"Series B+","year":2021},{"name":"Swift Underground","sector":"Deeptech / Hardware","stage":"Series B+","year":2020},{"name":"Metro Loop","sector":"Deeptech / Hardware","stage":"Series B+","year":2020},{"name":"Attabotics","sector":"Deeptech / Hardware","stage":"Series B+","year":2022}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://ventures.werklund.com/","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec91","slug":"renewal-funds","name":"Renewal Funds","type":"VC","conviction":"pure-play","stages":["Seed","Series A","Series B+"],"sectors":["Climate / Energy","Marketplace / Consumer","SaaS / Vertical SaaS"],"ticket":{"min":2000000,"max":7000000,"currency":"CAD","label":"$2M to $7M CAD"},"leadFollow":"Both","province":["BC"],"hq":{"city":"Vancouver","region":"BC"},"languages":["EN"],"founded":2008,"fundSize":{"value":240,"currency":"CAD","vintage":2024},"activity":"Selectif","lastDealDate":"2025-12-10","website":"https://renewalfunds.com","linkedinURL":"https://www.linkedin.com/company/renewal2-investment-fund/","logo":"/assets/vc-logos/renewal-funds.png?v=4","logoBgColor":"#14B8A6","thesis":{"en":"Vancouver-based impact venture firm investing in early growth stage companies in Canada and the US driving meaningful climate and ecosystem impacts at scale. Sectors include energy transition, mobility, food systems, zero waste and resource conservation. AUM of $240M CAD across four funds. Renewal5 (2024) is the active vehicle. The team brings deep impact rigor combined with commercial discipline, suiting founders who want a Canadian growth partner with a track record of scaling sustainable businesses to category leadership.","fr":"Fonds d'impact vancouvérois investissant en early-growth au Canada et aux États-Unis dans des sociétés générant des impacts climatiques et écosystémiques mesurables à grande échelle. Verticales : transition énergétique, mobilité, systèmes alimentaires, zéro-déchet et conservation des ressources. AUM de 240 M$ CA sur quatre fonds. Renewal5 (2024) est le véhicule actif."},"tagline":{"en":"Climate impact, growth-stage discipline.","fr":"Impact climat, discipline growth-stage."},"valueAdd":{"en":["Climate impact rigor","Growth-stage discipline","Cross-border food network","Impact measurement depth","Mission-aligned LP base"],"fr":["Rigueur impact climat","Discipline stade de croissance","Réseau alimentaire transfrontalier","Profondeur de mesure d'impact","Base LP alignée à la mission"]},"followOnNarrative":{"en":"Renewal reserves growth-stage follow-on capital from Renewal5 and routinely syndicates with US impact and climate funds for subsequent rounds. Follow-on conviction is driven by measurable impact per dollar of revenue and clean unit economics at scale.","fr":"Renewal reserve du capital de suivi growth a partir de Renewal5 et syndique regulierement avec des fonds impact et climat americains pour les tours suivants. La conviction de suivi est portee par un impact mesurable par dollar de revenu et des economies unitaires saines a l'echelle."},"keyQuestions":{"en":["What measurable climate or ecosystem impact does your business produce per dollar of revenue?","What does your unit economics look like at 10x scale, and what risk does that surface?","Which strategic acquirer in food, mobility or energy transition is most natural in 5 years?"],"fr":["Quel impact climatique ou écosystémique mesurable votre entreprise produit-elle par dollar de revenu?","À quoi ressemble votre économie unitaire à 10x l'échelle, et quel risque cela fait-il émerger?","Quel acquéreur stratégique en alimentation, mobilité ou transition énergétique est le plus naturel dans 5 ans?"]},"coInvestors":[{"name":"Cove Hill Partners","slug":"cove-hill-partners"},{"name":"Obvious Ventures","slug":"obvious-ventures"},{"name":"BlueRun Ventures","slug":"bluerun-ventures"},{"name":"Clean Energy Ventures","slug":"clean-energy-ventures"},{"name":"S2G Ventures","slug":"s2g-ventures"},{"name":"Pangaea Ventures","slug":"pangaea-ventures"},{"name":"BDC Capital","slug":"bdc-capital"}],"people":[{"fullName":"Paul Richardson","role":"Partner","linkedinURL":"","initials":"PR","avatarBgColor":"#534AB7"},{"fullName":"Genevieve Pinto","role":"Partner","linkedinURL":"","initials":"GP","avatarBgColor":"#1D9E75"},{"fullName":"Geordan Hankinson","role":"Partner","linkedinURL":"","initials":"GH","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"SuperCircle","sector":"Marketplace / Consumer","stage":"Series A","year":2025},{"name":"Rodatherm Energy","sector":"Climate / Energy","stage":"Series A","year":2025},{"name":"Rebellyous Foods","sector":"Climate / Energy","stage":"Series B+","year":2025},{"name":"Cascadia Windows and Doors","sector":"Climate / Energy","stage":"Growth","year":2025},{"name":"Fresh Prep","sector":"Marketplace / Consumer","stage":"Growth","year":2025},{"name":"Terramera","sector":"Climate / Energy","stage":"Growth","year":null},{"name":"Station A","sector":"Climate / Energy","stage":"Series A","year":null}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.renewalfunds.com/portfolio/","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec92","slug":"tandemlaunch","name":"TandemLaunch","type":"VC","conviction":"pure-play","stages":["Pre-seed","Seed"],"sectors":["AI / ML","Deeptech / Hardware","Climate / Energy","Devtools / Infra"],"ticket":{"min":500000,"max":800000,"currency":"CAD","label":"Up to $800k CAD initial"},"leadFollow":"Lead","province":["QC"],"hq":{"city":"Montreal","region":"QC"},"languages":["EN","FR"],"founded":2010,"fundSize":{"value":37,"currency":"CAD","vintage":2024},"activity":"Tres actif","lastDealDate":"2026-02-19","website":"https://www.tandemlaunch.com/","linkedinURL":"https://ca.linkedin.com/company/tandemlaunch","logo":"/assets/vc-logos/tandemlaunch.png?v=4","logoBgColor":"#534AB7","thesis":{"en":"TandemLaunch is Quebec's pioneer venture studio, scouting promising IP at universities, acquiring it, recruiting a founding team and building a startup around it. Fund IV closed at $37M CAD in February 2025 (first close $27M July 2024) with BDC Capital and Fonds de solidarité FTQ as lead LPs, plus 30+ family offices and the federal VCCI program (inclusive growth stream, $6.5M). The fund targets 15 new Montreal-based deep tech companies in AI, computer vision, IoT, advanced sensors and sustainability. Initial seed ticket up to $800k per startup at day zero.","fr":"TandemLaunch est le studio de venture pionnier au Québec. Il déniche de la PI prometteuse dans les universités, l'acquiert, recrute une équipe fondatrice et bâtit une startup autour. Le Fonds IV a clôturé à 37 M$ CAD en février 2025 (premier close à 27 M$ en juillet 2024) avec BDC Capital et Fonds de solidarité FTQ en investisseurs principaux, plus 30+ family offices et l'Initiative de catalyse du capital de risque fédérale (volet croissance inclusive, 6,5 M$). Le fonds vise 15 nouvelles startups deep tech montréalaises en IA, vision par ordinateur, IoT, capteurs avancés et durabilité. Chèque initial jusqu'à 800 k$ par startup au jour zéro."},"tagline":{"en":"Venture studio that builds deep tech from university IP.","fr":"Studio de venture qui bâtit la deep tech à partir de la PI universitaire."},"valueAdd":{"en":["University IP sourcing engine","Hands-on company building","Deep tech operator network","BDC and FTQ LP signal","Federal inclusive growth backing"],"fr":["Moteur de sourcing PI universitaire","Co-construction d'entreprise","Réseau d'opérateurs deep tech","Signal LP BDC et FTQ","Soutien fédéral croissance inclusive"]},"followOnNarrative":{"en":"As a venture studio, TandemLaunch keeps reserves for seed extensions and Series A bridges in its built companies, syndicating with BDC, FTQ and pan-Canadian deep tech funds. Founders share product, IP and milestone updates on a monthly cadence.","fr":"En tant que studio, TandemLaunch conserve des réserves pour les extensions seed et les ponts vers la Série A de ses sociétés bâties, en syndication avec BDC, FTQ et des fonds deep tech pancanadiens. Les fondateurs partagent produit, PI et jalons sur une cadence mensuelle."},"keyQuestions":{"en":["What university or research lab is the IP coming from, and have you secured exclusivity?","How does the technology translate into a defensible product in 18 months?","What founding team gaps would TandemLaunch need to fill on day zero?"],"fr":["De quelle université ou laboratoire vient la PI, et avez-vous obtenu l'exclusivité?","Comment la technologie se traduit-elle en un produit défendable d'ici 18 mois?","Quelles lacunes dans l'équipe fondatrice TandemLaunch devrait-il combler au jour zéro?"]},"coInvestors":[{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Fonds de solidarité FTQ","slug":"fonds-de-solidarite-ftq"},{"name":"VCCI (Government of Canada)","slug":"vcci-government-of-canada"}],"people":[{"fullName":"Helge Seetzen","role":"Managing Partner & CEO","linkedinURL":"https://ca.linkedin.com/in/helgeseetzen","initials":"HS","avatarBgColor":"#534AB7"},{"fullName":"Émilie Boutros","role":"Managing Partner","linkedinURL":"","initials":"ÉB","avatarBgColor":"#1D9E75"}],"portfolio":[{"name":"Shearwater Aerospace","sector":"AI / ML","stage":"Seed","year":2026},{"name":"Inlan","sector":"Deeptech / Hardware","stage":"Seed","year":2025},{"name":"Soundskrit","sector":"Deeptech / Hardware","stage":"Seed","year":2025},{"name":"Contxtful","sector":"AI / ML","stage":"Seed","year":2025},{"name":"Noze","sector":"Deeptech / Hardware","stage":"Seed","year":2024},{"name":"Waveshaper","sector":"AI / ML","stage":"Pre-seed","year":2024},{"name":"Agapyo","sector":"Climate / Energy","stage":"Pre-seed","year":2024}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.tandemlaunch.com/portfolio","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec93","slug":"brandproject","name":"BrandProject","type":"VC","conviction":"pure-play","stages":["Pre-seed","Seed","Series A"],"sectors":["Marketplace / Consumer"],"ticket":{"min":500000,"max":2000000,"currency":"CAD","label":"$500k to $2M CAD"},"leadFollow":"Lead","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2013,"fundSize":{"value":54,"currency":"CAD","vintage":2021},"activity":"Selectif","lastDealDate":"2026-05-07","website":"https://brandproject.com","linkedinURL":"https://www.linkedin.com/company/brandproject-lp/","logo":"/assets/vc-logos/brandproject.png?v=4","logoBgColor":"#F97316","thesis":{"en":"Fund dedicated to consumer packaged goods (CPG), based in Toronto and New York, evolved from a venture studio into an institutional fund. BrandProject invests in visionary CPG founders building the brands of the future across food, wellness and lifestyle. The team brings studio-level expertise in branding and go-to-market alongside capital. Notable exit: Freshly, sold to Nestle. Built for founders building consumer brands that combine product authenticity with disciplined unit economics and scalable distribution.","fr":"Fonds dédié aux marques de consommation (CPG) torontois et new-yorkais, issu d'un studio de venture devenu fonds institutionnel. BrandProject investit dans des fondateurs visionnaires construisant les marques de demain dans l'alimentation, le bien-être et le lifestyle. L'équipe apporte une expertise studio en branding et go-to-market. Sortie marquante : Freshly, vendue à Nestlé."},"tagline":{"en":"Visionary CPG founders, studio firepower.","fr":"Marques visionnaires, ADN de studio."},"valueAdd":{"en":["CPG branding studio","Consumer GTM expertise","NYC and Toronto reach","Strategic exit playbook","Brand-led category creation"],"fr":["Studio branding CPG","Expertise GTM grand public","Portée New York et Toronto","Plan de sortie stratégique","Création de catégorie par la marque"]},"followOnNarrative":{"en":"BrandProject maintains seed-stage reserves for pro-rata and partners with Serena Ventures, Forerunner, Lerer Hippeau, Obvious and Greycroft for Series A and B follow-ons. Founders are expected to deliver category-leading unit economics before the next institutional round.","fr":"BrandProject conserve des reserves seed pour le pro-rata et s'associe a Serena Ventures, Forerunner, Lerer Hippeau, Obvious et Greycroft pour les suivis en Serie A et B. Les fondateurs sont attendus avec une unit economics de tete de categorie avant la prochaine ronde institutionnelle."},"keyQuestions":{"en":["Which retail and DTC channels are driving repeat rates above category benchmarks?","What is your gross margin path at scale, and where does it break versus the category leader?","Who is the strategic acquirer in 5 years and what makes them want this brand specifically?"],"fr":["Quels canaux retail et DTC génèrent des taux de réachat supérieurs aux benchmarks de la catégorie?","Quelle est votre trajectoire de marge brute à l'échelle, et où décroche-t-elle face au leader de la catégorie?","Qui est l'acquéreur stratégique dans 5 ans et qu'est-ce qui leur fait vouloir cette marque précisément?"]},"coInvestors":[{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Serena Ventures","slug":"serena-ventures"},{"name":"Forerunner Ventures","slug":"forerunner-ventures"},{"name":"Lerer Hippeau","slug":"lerer-hippeau"},{"name":"Obvious Ventures","slug":"obvious-ventures"},{"name":"Greycroft","slug":"greycroft"}],"people":[{"fullName":"Andrew Black","role":"Partner","linkedinURL":"","initials":"AB","avatarBgColor":"#534AB7"},{"fullName":"Andrew Bridge","role":"Partner","linkedinURL":"","initials":"AB","avatarBgColor":"#1D9E75"},{"fullName":"Jay Bhatti","role":"Partner","linkedinURL":"","initials":"JB","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Jesse & Ben's","sector":"Marketplace / Consumer","stage":"Series A","year":2026},{"name":"Our Place","sector":"Marketplace / Consumer","stage":"Series A","year":2022},{"name":"Acid League","sector":"Marketplace / Consumer","stage":"Seed","year":2021},{"name":"Wonderbelly","sector":"Marketplace / Consumer","stage":"Seed","year":2022},{"name":"Iris and Romeo","sector":"Marketplace / Consumer","stage":"Seed","year":2020},{"name":"Peachy","sector":"Marketplace / Consumer","stage":"Seed","year":2021},{"name":"Ritual","sector":"Marketplace / Consumer","stage":"Seed","year":2016}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://brandproject.com","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec94","slug":"highline-beta","name":"Highline Beta","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed"],"sectors":["Fintech / Insurtech","Healthtech / Biotech","SaaS / Vertical SaaS","Web3 / Crypto","Marketplace / Consumer"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Studio model, equity at inception"},"leadFollow":"Lead","province":["ON","QC","BC","AB"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2017,"fundSize":null,"activity":"Actif","lastDealDate":"2026-04-10","website":"https://www.highlinebeta.com/","linkedinURL":"https://ca.linkedin.com/company/highline-beta","logo":"/assets/vc-logos/highline-beta.png?v=4","logoBgColor":"#EC4899","thesis":{"en":"Highline Beta is a Toronto-based institutional pre-seed VC and corporate venture studio. Founded in 2017, it co-creates new ventures with corporate partners and founders, taking equity at inception. Fund I (vintage 2020) was anchored by RBC and BDC Capital. In March 2025, Highline Beta announced Highline Beta 3.0 with two vertical venture studios: DentalTech and Highline Beta ETH (Ethereum-focused, target 10 startups). Historically active across fintech and insurtech, sustainability and logistics, health and wellness. 20+ portfolio companies.","fr":"Highline Beta est un VC pre-seed institutionnel torontois et un studio de venture corporate. Fondé en 2017, il co-crée de nouvelles entreprises avec des partenaires corporatifs et des fondateurs, en prenant de l'équité dès la création. Le Fonds I (millésime 2020) a été ancré par RBC et BDC Capital. En mars 2025, Highline Beta a annoncé Highline Beta 3.0 avec deux studios de venture verticaux : DentalTech et Highline Beta ETH (focus Ethereum, cible 10 startups). Historiquement actif en fintech et insurtech, durabilité et logistique, santé et bien-être. 20+ entreprises en portefeuille."},"tagline":{"en":"Corporate venture studio, vertical thesis.","fr":"Studio de venture corporate, thèse verticale."},"valueAdd":{"en":["Corporate partner co-creation","Vertical studio thesis (DentalTech, ETH)","RBC and BDC anchor LPs","Pre-seed equity at inception","Concentrated portfolio approach"],"fr":["Co-création avec partenaire corporatif","Thèse de studio vertical (DentalTech, ETH)","LP ancres RBC et BDC","Équité pre-seed dès la création","Approche portefeuille concentré"]},"followOnNarrative":{"en":"Highline Beta takes equity at inception via its studio, then supports the first institutional round with RBC, BDC and Golden as common syndicate partners. Reserves are concentrated on companies aligned with the active vertical studios.","fr":"Highline Beta prend de l'equite des la creation via le studio, puis appuie la premiere ronde institutionnelle avec RBC, BDC et Golden comme partenaires de syndicat reguliers. Les reserves sont concentrees sur les entreprises alignees avec les studios verticaux actifs."},"keyQuestions":{"en":["Are you aligned with one of Highline Beta's current vertical studios (DentalTech, Ethereum)?","Do you have a corporate partner already engaged or one that should be invited?","How do you feel about co-building with the Highline team as operational partner versus a hands-off check?"],"fr":["Êtes-vous aligné avec l'un des studios verticaux actuels de Highline Beta (DentalTech, Ethereum)?","Avez-vous déjà un partenaire corporatif engagé ou un qu'il faudrait inviter?","Que pensez-vous d'une co-construction avec l'équipe Highline en partenaire opérationnel, plutôt qu'un chèque sans implication?"]},"coInvestors":[{"name":"RBCx","slug":"rbcx"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Golden Ventures","slug":"golden-ventures"},{"name":"Maple Leaf Angels","slug":"maple-leaf-angels"}],"people":[{"fullName":"Marcus Daniels","role":"Co-founder, CEO & Founding Partner","linkedinURL":"https://ca.linkedin.com/in/marcusdaniels","initials":"MD","avatarBgColor":"#534AB7"},{"fullName":"Benjamin Yoskovitz","role":"Founding Partner & CPO","linkedinURL":"https://ca.linkedin.com/in/byosko","initials":"BY","avatarBgColor":"#1D9E75"},{"fullName":"Lauren Robinson","role":"General Partner","linkedinURL":"https://ca.linkedin.com/in/laurenmrobinson","initials":"LR","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Requity Homes","sector":"Proptech / Construction","stage":"Series A","year":2024},{"name":"Carbonhound","sector":"Climate / Energy","stage":"Pre-seed","year":2023},{"name":"Parachute","sector":"Fintech / Insurtech","stage":"Seed","year":2022},{"name":"Flora Fertility","sector":"Healthtech / Biotech","stage":"Seed","year":2023},{"name":"Moselle","sector":"SaaS / Vertical SaaS","stage":"Pre-seed","year":2023}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.highlinebeta.com/about-us","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec95","slug":"cycle-capital","name":"Cycle Capital","type":"VC","conviction":"pure-play","stages":["Seed","Series A","Series B+"],"sectors":["Climate / Energy"],"ticket":{"min":2000000,"max":15000000,"currency":"CAD","label":"$2M to $15M CAD"},"leadFollow":"Lead","province":["QC"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2009,"fundSize":{"value":650,"currency":"CAD","vintage":2024},"activity":"Actif","lastDealDate":"2026-03-23","website":"https://cyclecapital.com/en/","linkedinURL":"https://www.linkedin.com/company/cycle-capital/","logo":"/assets/vc-logos/cycle-capital.png?v=4","logoBgColor":"#0EA5E9","thesis":{"en":"The largest Canadian VC platform dedicated to clean technology, founded in Montreal in 2009 by Andree Lise Methot. Cycle Capital invests as lead from Series A onward in decarbonization, circular economy, agtech and bioproducts, with cheques of $2M to $15M CAD. The platform manages seven funds (~$650M CAD AUM) and co-leads the Circular Innovation Fund (EUR 150M) with Demeter. The team comprises climate operators deeply embedded in Quebec and European industrial ecosystems, providing strong commercial and policy access for portfolio companies.","fr":"La plus grande plateforme de capital de risque dédiée aux technologies propres au Canada, fondée à Montréal en 2009 par Andrée Lise Méthot. Investit en lead à partir de la Série A dans la décarbonation, l'économie circulaire, l'agtech et les bioproduits, avec des tickets de 2 à 15 M$ CAD. Gère sept fonds (~650 M$ CAD d'actifs) et codirige le Circular Innovation Fund (150 M€) avec Demeter. Une équipe d'opérateurs climat profondément ancrée dans les écosystèmes industriels québécois et européens."},"tagline":{"en":"Canada's largest pure-play climate VC platform","fr":"Plus grand VC climat pure play au Canada"},"valueAdd":{"en":["Climate domain depth","Industrial LP network","Scale-up support","Quebec ecosystem"],"fr":["Expertise climat profonde","Réseau LP industriel","Soutien scale up","Écosystème québécois"]},"followOnNarrative":{"en":"With seven funds active, Cycle reserves meaningful capital for follow-ons and deploys cross-fund capacity through later-stage vehicles like the Circular Innovation Fund.","fr":"Avec sept fonds actifs, Cycle réserve un capital significatif pour les suivis et déploie une capacité inter fonds via des véhicules plus tardifs comme le Circular Innovation Fund."},"keyQuestions":{"en":["How does Cycle help climate hardware companies bridge from Series A to first commercial deployment?","Which strategic LPs in the Cycle network can become customers or development partners?","What follow-on capacity exists across Cycle's seven funds for our trajectory?"],"fr":["Comment Cycle aide t il les sociétés climat hardware à passer de la Série A au premier déploiement commercial?","Quels LP stratégiques du réseau Cycle peuvent devenir clients ou partenaires de développement?","Quelle capacité de suivi existe à travers les sept fonds de Cycle pour notre trajectoire?"]},"coInvestors":[{"name":"Fondaction","slug":"fondaction"},{"name":"Investissement Québec","slug":"investissement-quebec"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Caisse de dépôt et placement du Québec","slug":"caisse-de-depot-et-placement-du-quebec"},{"name":"Demeter Partners","slug":"demeter-partners"}],"people":[{"fullName":"Andrée-Lise Méthot","role":"Founder & Managing Partner","linkedinURL":"https://www.linkedin.com/in/andrée-lise-méthot/","initials":"AM","avatarBgColor":"#534AB7"},{"fullName":"Claude Vachet","role":"Senior Partner","linkedinURL":"https://www.linkedin.com/in/claude-vachet-4b369/","initials":"CV","avatarBgColor":"#1D9E75"},{"fullName":"Ariane Cloutier","role":"Partner / CFO","linkedinURL":"https://www.linkedin.com/in/ariane-cloutier-cpa-ca-35619a61/","initials":"AC","avatarBgColor":"#A32D2D"},{"fullName":"Guillaume Ouimet","role":"Partner","linkedinURL":"https://www.linkedin.com/in/guillaume-ouimet/","initials":"GO","avatarBgColor":"#712B13"},{"fullName":"Gerd Goette","role":"Senior Partner","linkedinURL":"https://www.linkedin.com/in/gerd-goette-5167b64/","initials":"GG","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"Spark Microsystems","sector":"Deeptech / Hardware","stage":"Series B","year":2026},{"name":"AON3D","sector":"Deeptech / Hardware","stage":"Growth","year":2026},{"name":"Blumind","sector":"Deeptech / Hardware","stage":"Series A","year":2025},{"name":"Sonocharge Energy","sector":"Climate / Energy","stage":"Series A","year":2025},{"name":"Sparxell","sector":"Climate / Energy","stage":"Seed","year":2024},{"name":"Aplantex","sector":"Climate / Energy","stage":"Seed","year":2024}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://cyclecapital.com/en/","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec96","slug":"desjardins-capital","name":"Desjardins Capital","type":"CVC","conviction":"cvc","stages":["Seed","Series A","Series B+"],"sectors":["SaaS / Vertical SaaS","AI / ML","Healthtech / Biotech","Fintech / Insurtech","Climate / Energy","Deeptech / Hardware"],"ticket":{"min":1000000,"max":10000000,"currency":"CAD","label":"$1M to $10M CAD"},"leadFollow":"Both","province":["QC"],"hq":{"city":"Montreal","region":"QC"},"languages":["FR","EN"],"founded":1974,"fundSize":{"value":2000,"currency":"CAD","vintage":null},"activity":"Tres actif","lastDealDate":"2026-05-12","website":"https://www.desjardinscapital.com/en/","linkedinURL":"https://www.linkedin.com/company/desjardins-capital/","logo":"/assets/vc-logos/desjardins-capital.png?v=4","logoBgColor":"#10B981","thesis":{"en":"Desjardins Capital is the venture capital and growth equity arm of Mouvement Desjardins, the largest cooperative financial group in North America. With $2B in assets under management and 335 investments to date supporting 460+ Quebec companies, Desjardins Capital deploys patient capital across multiple sub-funds, including a dedicated Fintech Fund. Sector-agnostic mandate with strong roots in Quebec entrepreneurship. Latest investment in Aon3D Series C in January 2026. Typical ticket $1M to $10M, can lead or follow depending on stage.","fr":"Desjardins Capital est le bras venture et capital de croissance du Mouvement Desjardins, plus grande coopérative financière d'Amérique du Nord. Avec 2 G$ sous gestion et 335 investissements à ce jour appuyant plus de 460 entreprises québécoises, Desjardins Capital déploie un capital patient à travers plusieurs sous-fonds, dont un Fonds Fintech dédié. Mandat multi-sectoriel avec un fort enracinement dans l'entrepreneuriat québécois. Dernier investissement dans Aon3D en Série C en janvier 2026. Ticket typique de 1 à 10 M$, peut lead ou follow selon le stade."},"tagline":{"en":"Quebec cooperative capital, patient and broad.","fr":"Capital coop québécois, patient et large."},"valueAdd":{"en":["Cooperative capital patience","Multi-fund deployment (Fintech, generalist, growth)","Quebec SME ecosystem reach","Long-term partnership posture","Sister-fund follow-on through Mouvement Desjardins"],"fr":["Patience capital coopératif","Déploiement multi-fonds (Fintech, généraliste, croissance)","Réseau PME québécoises","Posture partenariat long terme","Follow-on via fonds soeur Mouvement Desjardins"]},"followOnNarrative":{"en":"With $2B AUM across multiple sub-funds (Fintech, generalist, growth), Desjardins Capital recycles capital from stage to stage and can follow on from seed through growth. Cooperative capital posture means longer hold horizons than typical VC.","fr":"Avec 2 G$ sous gestion répartis sur plusieurs sous-fonds (Fintech, généraliste, croissance), Desjardins Capital recycle le capital d'un stade à l'autre et peut suivre du seed jusqu'à la croissance. Posture coopérative : horizons de détention plus longs que le VC traditionnel."},"keyQuestions":{"en":["Are you targeting the Fintech Fund or the generalist mandate, and why?","How does your business serve or partner with Desjardins' member base of cooperatives and SMEs?","What is your horizon to profitability, and does patient capital fit your trajectory?"],"fr":["Ciblez-vous le Fonds Fintech ou le mandat généraliste, et pourquoi?","En quoi votre entreprise sert-elle ou s'associe-t-elle à la base de membres Desjardins (coopératives, PME)?","Quel est votre horizon vers la rentabilité, et le capital patient s'aligne-t-il sur votre trajectoire?"]},"coInvestors":[{"name":"Investissement Québec","slug":"investissement-quebec"},{"name":"Fonds de solidarité FTQ","slug":"fonds-de-solidarite-ftq"},{"name":"National Bank Private Investment","slug":"national-bank-private-investment"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"CDPQ","slug":"cdpq"}],"people":[{"fullName":"Luc Ménard","role":"Chief Operating Officer","linkedinURL":"","initials":"LM","avatarBgColor":"#534AB7"},{"fullName":"Catherine Lalonde","role":"Vice President, Funds and Investments","linkedinURL":"","initials":"CL","avatarBgColor":"#1D9E75"},{"fullName":"Mario Tremblay","role":"Vice President, Investments","linkedinURL":"","initials":"MT","avatarBgColor":"#A32D2D"},{"fullName":"Louis Potvin","role":"Vice President, Investments","linkedinURL":"","initials":"LP","avatarBgColor":"#712B13"},{"fullName":"Virginie Jacques","role":"Investment Director, External Funds","linkedinURL":"","initials":"VJ","avatarBgColor":"#0EA5E9"},{"fullName":"Marie-Andrée Roy-Turgeon","role":"Investment Director","linkedinURL":"","initials":"MR","avatarBgColor":"#F59E0B"},{"fullName":"Frédérick Bergeron","role":"Investment Director","linkedinURL":"","initials":"FB","avatarBgColor":"#EC4899"},{"fullName":"Marc-André Grenier","role":"Investment Director","linkedinURL":"","initials":"MG","avatarBgColor":"#14B8A6"}],"portfolio":[{"name":"STGM Architecture","sector":"Marketplace / Consumer","stage":"Growth","year":2026},{"name":"SmartD Technologies","sector":"Deeptech / Hardware","stage":"Series B","year":2026},{"name":"Billdr","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2026},{"name":"AON3D","sector":"Deeptech / Hardware","stage":"Growth","year":2026},{"name":"Puzzle Medical Devices","sector":"Healthtech / Biotech","stage":"Series B","year":2025},{"name":"Qohash","sector":"Cybersecurity","stage":"Series B","year":2024}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.desjardins.com/en/find-us/desjardins-capital-team.html","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec97","slug":"framework-venture-partners","name":"Framework Venture Partners","type":"VC","conviction":"tech-actif","stages":["Series A","Series B+"],"sectors":["SaaS / Vertical SaaS","AI / ML","Fintech / Insurtech","Cybersecurity","Marketplace / Consumer"],"ticket":{"min":5000000,"max":15000000,"currency":"CAD","label":"$5M to $15M CAD"},"leadFollow":"Lead","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2018,"fundSize":{"value":310,"currency":"CAD","vintage":2022},"activity":"Actif","lastDealDate":"2026-01-26","website":"https://framework.vc","linkedinURL":"https://www.linkedin.com/company/frameworkventures/","logo":"/assets/vc-logos/framework-venture-partners.png?v=4","logoBgColor":"#3B82F6","thesis":{"en":"Framework Venture Partners is a Toronto-based fund founded in 2018 by former BDC partners Peter Misek and Andrew Lugsdin. The thesis rests on \"active capital\": cheques of $5M to $15M CAD at Series A and B, with a lead posture and intensive operational accompaniment (GTM, finance, governance) for Canadian founders in vertical SaaS, applied AI, fintech, cybersecurity and B2B marketplaces. Fund I at $105M CAD, Fund II with a first close at US$100M (target US$250M). Not to be confused with Framework Ventures (San Francisco, crypto). Framework distinguishes itself through metric and business-model rigor.","fr":"Framework Venture Partners est un fonds torontois fondé en 2018 par d'anciens partenaires de BDC, Peter Misek et Andrew Lugsdin. La thèse repose sur le « capital actif » : tickets de 5 à 15 M$ CA en Série A et B, posture lead, accompagnement opérationnel intensif (GTM, finance, gouvernance) auprès de fondateurs canadiens en SaaS vertical, IA appliquée, fintech, cybersécurité et marketplaces B2B. Fonds I de 105 M$ CA, Fonds II avec un premier closing à 100 M$ US (cible 250 M$ US). À ne pas confondre avec Framework Ventures (San Francisco, crypto). Framework se distingue par sa rigueur sur la métrique et le modèle d'affaires."},"tagline":{"en":"Active capital for Canadian Series A/B SaaS & AI","fr":"Capital actif pour SaaS et IA canadiens en Série A/B"},"valueAdd":{"en":["Active capital playbook","Vertical SaaS expertise","Finance & metrics rigor","GTM scaling","Cross-border syndication"],"fr":["Méthode capital actif","Expertise SaaS vertical","Rigueur finance et métriques","Mise à l'échelle GTM","Syndication transfrontalière"]},"followOnNarrative":{"en":"Framework reserves substantial follow-on capital for Series B and selectively co-leads up rounds with US firms. Strong preference for founders who run a tight metrics-driven board.","fr":"Framework conserve un capital de suivi substantiel pour la Série B et co dirige sélectivement les tours haussiers avec des fonds américains. Forte préférence pour les fondateurs qui pilotent un conseil structuré et orienté métriques."},"keyQuestions":{"en":["Are you at $2-10M ARR in vertical SaaS, AI or fintech with proven retention and efficiency metrics?","Are you ready for a hands-on lead investor who will work weekly on GTM and finance?","Do you have a Series B path that includes US institutional capital?"],"fr":["Avez-vous atteint 2 à 10 M$ d'ARR en SaaS vertical, IA ou fintech, avec des métriques de rétention et d'efficience prouvées ?","Êtes-vous prêts pour un investisseur lead très impliqué, présent chaque semaine sur le GTM et la finance ?","Disposez-vous d'un chemin Série B incluant du capital institutionnel américain ?"]},"coInvestors":[{"name":"BDC Capital","slug":"bdc-capital"},{"name":"OMERS Ventures","slug":"omers-ventures"},{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"Georgian","slug":"georgian"},{"name":"Information Venture Partners","slug":"information-venture-partners"}],"people":[{"fullName":"Peter Misek","role":"Co-Founder & Partner","linkedinURL":"https://ca.linkedin.com/in/peter-misek-3191394","initials":"PM","avatarBgColor":"#534AB7"},{"fullName":"Ajay Gopal","role":"Partner","linkedinURL":"https://www.linkedin.com/in/ajay-gopal-815a3159/","initials":"AG","avatarBgColor":"#1D9E75"},{"fullName":"Jim Texier","role":"Partner","linkedinURL":"https://ca.linkedin.com/in/texierjm","initials":"JT","avatarBgColor":"#A32D2D"},{"fullName":"Barbara Dirks","role":"Partner","linkedinURL":"","initials":"BD","avatarBgColor":"#712B13"}],"portfolio":[{"name":"Certn","sector":"SaaS / Vertical SaaS","stage":"Series B+","year":2021},{"name":"Cinchy","sector":"SaaS / Vertical SaaS","stage":"Series A","year":2020},{"name":"Tasktop","sector":"Devtools / Infra","stage":"Series B+","year":2019},{"name":"ApplyBoard","sector":"Marketplace / Consumer","stage":"Series B+","year":2020},{"name":"Vena Solutions","sector":"SaaS / Vertical SaaS","stage":"Series B+","year":2019}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.framework.vc/en/","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec98","slug":"amplitude-ventures","name":"Amplitude Ventures","type":"VC","conviction":"pure-play","stages":["Seed","Series A","Series B+"],"sectors":["AI / ML","Healthtech / Biotech"],"ticket":{"min":5000000,"max":25000000,"currency":"CAD","label":"$5M to $25M CAD"},"leadFollow":"Lead","province":["QC"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2019,"fundSize":{"value":500,"currency":"CAD","vintage":2024},"activity":"Actif","lastDealDate":"2026-04-30","website":"https://amplitudevc.com/en","linkedinURL":"https://www.linkedin.com/company/amplitude-ventures/","logo":"/assets/vc-logos/amplitude-ventures.png?v=4","logoBgColor":"#A32D2D","thesis":{"en":"Canadian specialist in precision medicine, spun out from BDC, investing in cellular and targeted therapies plus AI applied to healthcare. Cheques of $5M to $25M CAD primarily at pre-seed and seed, mostly as lead, with strong reserve capacity to build companies over a decade. Fund II ($263M CAD), closed in 2024, brings assets above $500M CAD across Montreal, Toronto and Vancouver. An operating partner for scientific founders who want to navigate clinical phases in Canada with a long-term capital partner anchored in Canadian institutions.","fr":"Specialiste canadien de la medecine de precision, issu de BDC, qui investit dans les therapies cellulaires, ciblees et l'IA appliquee a la sante. Tickets de 5 a 25 M$ CA en amorcage et Series A, principalement en lead, avec une forte capacite de reserve pour batir des entreprises sur dix ans et un modele de creation d'entreprises. Le Fonds II (263 M$ CA, US$192M) cloture en mai 2024 porte les actifs au dela de 500 M$ CA entre Montreal, Toronto et Vancouver. Un partenaire operateur pour fondateurs scientifiques qui veulent traverser les phases cliniques au Canada."},"tagline":{"en":"Precision medicine VC built for Canadian biotechs","fr":"VC médecine de précision pour biotechs canadiennes"},"valueAdd":{"en":["Clinical strategy","Deep biotech network","Long-horizon capital","Operator partners"],"fr":["Stratégie clinique","Réseau biotech profond","Capital long terme","Partenaires opérateurs"]},"followOnNarrative":{"en":"Amplitude reserves heavy follow-on capacity inside its $263M Fund II to support portfolio companies through multiple clinical milestones.","fr":"Amplitude réserve une forte capacité de suivi au sein de son Fonds II de 263 M$ pour soutenir les sociétés du portefeuille à travers plusieurs jalons cliniques."},"keyQuestions":{"en":["How does Amplitude support founders through pre-clinical to Phase 1/2 transitions?","What balance does the firm strike between cell/targeted therapy bets and AI for healthcare?","What is the typical syndicate Amplitude leads or joins for Canadian biotech rounds?"],"fr":["Comment Amplitude accompagne t il les fondateurs des phases précliniques aux phases 1 et 2?","Quel équilibre l'équipe maintient elle entre thérapies cellulaires, ciblées et IA en santé?","Quel est le syndicat type qu'Amplitude mène ou rejoint sur des rondes biotech canadiennes?"]},"coInvestors":[{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Lumira Ventures","slug":"lumira-ventures"},{"name":"Fonds de solidarité FTQ","slug":"fonds-de-solidarite-ftq"},{"name":"Investissement Québec","slug":"investissement-quebec"},{"name":"CTI Life Sciences","slug":"cti-life-sciences"}],"people":[{"fullName":"Jean-Francois Pariseau","role":"Co-Founder & Managing Partner","linkedinURL":"https://ca.linkedin.com/in/jeanfrancoispariseau","initials":"JP","avatarBgColor":"#534AB7"},{"fullName":"Dion Madsen","role":"Co-Founder & Managing Partner","linkedinURL":"https://www.linkedin.com/in/dion-madsen-7b6131/","initials":"DM","avatarBgColor":"#1D9E75"},{"fullName":"Bharat Srinivasa","role":"Partner","linkedinURL":"","initials":"BS","avatarBgColor":"#A32D2D"},{"fullName":"Michael Mee","role":"Partner","linkedinURL":"","initials":"MM","avatarBgColor":"#712B13"},{"fullName":"Allison Gaw","role":"Partner","linkedinURL":"","initials":"AG","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"RIME Therapeutics","sector":"Healthtech / Biotech","stage":"Seed","year":2026},{"name":"Mediar Therapeutics","sector":"Healthtech / Biotech","stage":"Series B+","year":2026},{"name":"Reverb Therapeutics","sector":"Healthtech / Biotech","stage":"Seed","year":2025},{"name":"Congruence Therapeutics","sector":"Healthtech / Biotech","stage":"Series A","year":2025},{"name":"Fluid Biomed","sector":"Healthtech / Biotech","stage":"Series A","year":2024},{"name":"Nomic Bio","sector":"Healthtech / Biotech","stage":"Series B+","year":2024},{"name":"Ability Biologics","sector":"Healthtech / Biotech","stage":"Seed","year":2024}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://amplitudevc.com/en","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec99","slug":"anges-quebec","name":"Anges Québec","type":"Angel","conviction":"generaliste","stages":["Pre-seed","Seed"],"sectors":["SaaS / Vertical SaaS","AI / ML","Healthtech / Biotech","Climate / Energy","Fintech / Insurtech","Devtools / Infra","Marketplace / Consumer"],"ticket":{"min":100000,"max":2000000,"currency":"CAD","label":"$100k to $2M CAD syndicate"},"leadFollow":"Both","province":["QC"],"hq":{"city":"Montreal","region":"QC"},"languages":["FR","EN"],"founded":2007,"fundSize":null,"activity":"Tres actif","lastDealDate":"2026-05-01","website":"https://angesquebec.com/en/","linkedinURL":"https://www.linkedin.com/company/anges-quebec/","logo":"/assets/vc-logos/anges-quebec.png?v=4","logoBgColor":"#F59E0B","thesis":{"en":"Founded in 2007, Anges Québec is the largest angel investor network in Canada with 200+ active angel members, most of whom are former entrepreneurs. The network has built an 89-company portfolio through member syndicates that lead or co-lead pre-seed and seed rounds for Québec-incorporated startups. Cheques range from $100k to $2M depending on syndicate size. Anges Québec also operates the Elevia Fund (a co-investment vehicle deploying $1M to $3M per year across 8 to 10 startups) and is closely associated with AQC Capital (the $150M institutional fund). Latest direct investment was the EmergConnect $1.75M seed in 2025 alongside AQC Capital and Leva Capital.","fr":"Fonde en 2007, Anges Quebec est le plus grand reseau d'investisseurs providentiels au Canada avec plus de 200 anges actifs, majoritairement d'anciens entrepreneurs. Le reseau a bati un portefeuille de plus de 89 entreprises via des syndicats de membres qui leadent ou co-leadent des tours pre-seed et seed pour des startups incorporees au Quebec. Les cheques s'echelonnent de 100 k$ a 2 M$ selon la taille du syndicat. Anges Quebec opere aussi le Fonds Elevia (vehicule de co-investissement renouvele chaque annee, 1 a 3 M$ par cycle sur 8 a 10 startups, environ 150 k$ par projet) et est etroitement associe a AQC Capital, le fonds institutionnel. Marc-Antoine Cantin dirige le reseau comme CEO depuis aout 2025."},"tagline":{"en":"Canada's largest angel network, Quebec-rooted.","fr":"Le plus grand réseau d'anges au Canada, ancré québécois."},"valueAdd":{"en":["200+ active angel members","Founder-to-founder syndicate dynamics","Elevia co-investment fund","AQC Capital institutional follow-on","Quebec ecosystem deep roots"],"fr":["200+ anges actifs","Dynamique syndicat fondateur-à-fondateur","Fonds Elevia de co-investissement","Suivi institutionnel via AQC Capital","Racines profondes écosystème québécois"]},"followOnNarrative":{"en":"Anges Quebec angels generally do not lead Series A on their own but the Elevia Fund and AQC Capital provide institutional follow-on capacity within the network. Members expect informal reporting to the syndicate and continued access to the Quebec ecosystem follow-on layer (BDC, FTQ, Investissement Quebec, Desjardins Capital).","fr":"Les anges d'Anges Quebec ne menent generalement pas seuls les Series A, mais le Fonds Elevia et AQC Capital apportent une capacite de suivi institutionnelle au sein du reseau. Les membres attendent un reporting informel au syndicat et l'acces continu a la couche de suivi quebecoise (BDC, FTQ, Investissement Quebec, Desjardins Capital)."},"keyQuestions":{"en":["Have you mapped 3 to 5 specific Anges Québec members whose operator background matches your sector?","How will you handle a syndicate of 5+ angels signing the same round (governance, info rights, communication)?","Is AQC Capital or Elevia Fund a likely institutional co-investor on this round?"],"fr":["Avez-vous identifié 3 à 5 membres Anges Québec spécifiques dont le bagage d'opérateur correspond à votre secteur?","Comment gérerez-vous un syndicat de 5+ anges signant le même tour (gouvernance, droits d'information, communication)?","AQC Capital ou le Fonds Elevia sont-ils un co-investisseur institutionnel probable sur ce tour?"]},"coInvestors":[{"name":"AQC Capital","slug":"aqc-capital"},{"name":"Leva Capital","slug":"leva-capital"},{"name":"Investissement Québec","slug":"investissement-quebec"},{"name":"Desjardins Capital","slug":"desjardins-capital"},{"name":"Fonds de solidarité FTQ","slug":"fonds-de-solidarite-ftq"},{"name":"BDC Capital","slug":"bdc-capital"}],"people":[{"fullName":"Marc-Antoine Cantin","role":"CEO","linkedinURL":"https://ca.linkedin.com/in/marc-antoine-cantin-cpa-icd-d-3a0600123","initials":"MC","avatarBgColor":"#534AB7"},{"fullName":"Pedro Herrera","role":"Lead, Elevia Fund","linkedinURL":"","initials":"PH","avatarBgColor":"#1D9E75"},{"fullName":"Genevieve Wiedmann-Harland","role":"Co-lead, Elevia Fund","linkedinURL":"","initials":"GW","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Opalia","sector":"Healthtech / Biotech","stage":"Seed","year":2026},{"name":"GridBank","sector":"Climate / Energy","stage":"Seed","year":2026},{"name":"EncephalX","sector":"Healthtech / Biotech","stage":"Seed","year":2026},{"name":"Axcell Labs","sector":"Deeptech / Hardware","stage":"Seed","year":2025},{"name":"Kelsen","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2025},{"name":"EmergConnect","sector":"Healthtech / Biotech","stage":"Seed","year":2025},{"name":"Paperplane Therapeutics","sector":"Healthtech / Biotech","stage":"Seed","year":2025},{"name":"ReliON","sector":"Climate / Energy","stage":"Seed","year":2024}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://angesquebec.com/en/about/our-team/","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec100","slug":"triptyq-capital","name":"Triptyq Capital","type":"VC","conviction":"pure-play","stages":["Pre-seed","Seed"],"sectors":["Marketplace / Consumer","AI / ML","Web3 / Crypto"],"ticket":{"min":250000,"max":2000000,"currency":"CAD","label":"$250k to $2M CAD"},"leadFollow":"Both","province":["QC","ON"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2022,"fundSize":{"value":40,"currency":"CAD","vintage":2022},"activity":"Actif","lastDealDate":"2025-09-10","website":"https://triptyq.vc/","linkedinURL":"https://ca.linkedin.com/company/triptyq-capital","logo":"/assets/vc-logos/triptyq-capital.png?v=4","logoBgColor":"#8B5CF6","thesis":{"en":"Triptyq Capital is a Quebec pre-seed and seed venture fund dedicated to technology companies serving the creative industries: gaming, XR, the creator economy and digital entertainment. The roughly $40M fund leads pre-seed rounds and co-invests at seed, drawing on founders with deep interactive-media backgrounds.","fr":"Triptyq Capital est un fonds quebecois de capital de risque pre-amorcage et amorcage dedie aux entreprises technologiques au service des industries creatives: jeu video, XR, economie des createurs et divertissement numerique. Le fonds d'environ 40 M$ mene les tours de pre-amorcage et co-investit a l'amorcage, en s'appuyant sur des fondateurs au profil pointu en medias interactifs."},"tagline":{"en":"Tech for the creative industries.","fr":"La tech au service des industries creatives."},"valueAdd":{"en":["Gaming and XR domain expertise","Creator-economy network","Interactive-media founder pedigree","Pre-seed lead capacity","Studio and publisher relationships"],"fr":["Expertise des domaines jeu video et XR","Reseau de l'economie des createurs","Pedigree de fondateurs en medias interactifs","Capacite de lead au pre-amorcage","Relations avec studios et editeurs"]},"followOnNarrative":{"en":"Triptyq Capital follows on at seed into its creative-tech winners and brings in entertainment-focused and generalist co-investors for larger rounds. Follow-on depends on engagement metrics and durable content economics.","fr":"Triptyq Capital suit a l'amorcage ses gagnants en creative tech et fait entrer des co-investisseurs axes divertissement et generalistes pour les tours plus importants. Le suivi depend des metriques d'engagement et d'une economie de contenu durable."},"keyQuestions":{"en":["What is your evidence of real user or creator engagement, not just downloads?","How do you monetize durably in a hit-driven market?","Why is now the right moment for your interactive-media category?"],"fr":["Quelle est votre preuve d'un engagement reel des utilisateurs ou des createurs, et pas seulement de telechargements?","Comment monetisez-vous durablement dans un marche tire par les hits?","Pourquoi est-ce le bon moment pour votre categorie de medias interactifs?"]},"coInvestors":[],"people":[{"fullName":"Bertrand Nepveu","role":"Founding Partner","linkedinURL":"","initials":"BN","avatarBgColor":"#534AB7"},{"fullName":"Guillaume Therien","role":"Founding Partner","linkedinURL":"","initials":"GT","avatarBgColor":"#1D9E75"},{"fullName":"Charles Sylvestre","role":"Founding Partner","linkedinURL":"","initials":"CS","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"LocusX","sector":"AI / ML","stage":"2025","year":null},{"name":"Gracia AI","sector":"AI / ML","stage":"","year":null},{"name":"ShapesXR","sector":"Marketplace / Consumer","stage":"","year":null},{"name":"Squido Studio","sector":"Marketplace / Consumer","stage":"","year":null}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://triptyq.vc/","lastVerifiedAt":"2026-05-20","editorialLevel":"Long tail (FR only)"},{"id":"rec101","slug":"amorchem","name":"AmorChem","type":"VC","conviction":"pure-play","stages":["Pre-seed","Seed"],"sectors":["Healthtech / Biotech"],"ticket":{"min":250000,"max":5000000,"currency":"CAD","label":"$250k to $5M CAD"},"leadFollow":"Lead","province":["QC","ON"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2011,"fundSize":{"value":95,"currency":"CAD","vintage":2017},"activity":"Dormant","lastDealDate":"2024-05-21","website":"https://amorchem.com","linkedinURL":"https://www.linkedin.com/company/amorchem-venture-fund/","logo":"/assets/vc-logos/amorchem.png?v=4","logoBgColor":"#534AB7","thesis":{"en":"Quebec life sciences fund dedicated to creating companies from academic research. AmorChem identifies and validates novel technologies emerging from Quebec universities, then structures companies around them. The team supports scientific founders through clinical translation and commercialization. Deployment cadence is intentionally slow, aligned with biotech development cycles. AmorChem suits researcher-founders who need a partner with deep institutional ties to the Quebec academic ecosystem and patience for long therapeutic timelines.","fr":"Fonds de sciences de la vie dedie a la creation d'entreprises a partir de la recherche academique quebecoise et ontarienne. AmorChem identifie et valide des technologies novatrices issues des universites, puis structure les societes autour de celles-ci. L'equipe accompagne les fondateurs scientifiques dans la traduction clinique et la mise en marche. Le vehicule actif, AmorChem II (lance en 2017, environ 54 M$), a un mandat Quebec et Ontario. Cadence de deploiement lente, environ un investissement par an, alignee avec les cycles longs de la biotech."},"tagline":{"en":"Quebec biotech, built from the lab up.","fr":"La biotech quebecoise, batie depuis le labo."},"valueAdd":{"en":["Quebec academic IP sourcing","Translational biotech expertise","Scientific co-founder support","Long-cycle biotech capital","FR-speaking life sciences network"],"fr":["Sourcing PI universités québécoises","Expertise biotech translationnelle","Accompagnement co-fondateurs scientifiques","Capital biotech long terme","Réseau sciences de la vie francophone"]},"followOnNarrative":{"en":"AmorChem reserves significant capital for biotech follow-on rounds and frequently syndicates Series A with Fonds de solidarite FTQ, Investissement Quebec, Novo Holdings and strategic corporates like Merck. Founders are expected to deliver clear preclinical and clinical milestones.","fr":"AmorChem reserve un capital significatif pour les tours de suivi biotech et syndique frequemment les Series A avec le Fonds de solidarite FTQ, Investissement Quebec, Novo Holdings et des corporates strategiques comme Merck. Les fondateurs livrent des jalons precliniques et cliniques clairs."},"keyQuestions":{"en":["Which Quebec academic lab is the technology coming from, and what is the licensing posture?","What preclinical milestones do you need to hit before a Series A syndicate will lead?","Who is the scientific co-founder and how do you plan to recruit a clinical CEO?"],"fr":["De quel laboratoire québécois provient la technologie et quel est le statut de la licence?","Quels jalons précliniques devez-vous atteindre avant qu'un syndicat de Série A accepte de mener?","Qui est le co-fondateur scientifique et comment prévoyez-vous recruter un CEO clinique?"]},"coInvestors":[{"name":"Investissement Québec","slug":"investissement-quebec"},{"name":"Fonds de solidarité FTQ","slug":"fonds-de-solidarite-ftq"},{"name":"Merck & Co.","slug":"merck-co"},{"name":"FIER Partenaires","slug":"fier-partenaires"},{"name":"Novo Holdings","slug":"novo-holdings"}],"people":[{"fullName":"Elizabeth Douville","role":"Co-Founder & Managing Partner","linkedinURL":"https://www.linkedin.com/in/elizabeth-douville/","initials":"ED","avatarBgColor":"#534AB7"},{"fullName":"Ines Holzbaur","role":"Co-Founder & Managing Partner","linkedinURL":"","initials":"IH","avatarBgColor":"#1D9E75"},{"fullName":"Kevin McBride","role":"General Partner & CSO","linkedinURL":"","initials":"KM","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Kodikaz Therapeutic Solutions","sector":"Healthtech / Biotech","stage":"Seed","year":2024},{"name":"Inversago Pharma","sector":"Healthtech / Biotech","stage":"Series A","year":2021},{"name":"SemaThera","sector":"Healthtech / Biotech","stage":"Seed","year":2019},{"name":"HDAX Therapeutics","sector":"Healthtech / Biotech","stage":"Seed","year":2021},{"name":"NuChem Sciences","sector":"Healthtech / Biotech","stage":"Spinout","year":2017},{"name":"Fairhaven Pharmaceuticals","sector":"Healthtech / Biotech","stage":"Seed","year":2017}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://amorchem.com/team/","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec102","slug":"i4-capital","name":"i4 Capital","type":"VC","conviction":"pure-play","stages":["Seed"],"sectors":["Deeptech / Hardware","AI / ML","Climate / Energy"],"ticket":{"min":500000,"max":2000000,"currency":"CAD","label":"$500k to $2M CAD"},"leadFollow":"Both","province":["QC","ON"],"hq":{"city":"Québec","region":"QC"},"languages":["EN","FR"],"founded":2021,"fundSize":{"value":47,"currency":"CAD","vintage":2022},"activity":"Actif","lastDealDate":"2025-11-01","website":"https://i4capital.vc/en/","linkedinURL":"https://ca.linkedin.com/company/i4-capital","logo":"/assets/vc-logos/i4-capital.png?v=4","logoBgColor":"#534AB7","thesis":{"en":"i4 Capital is a Quebec City seed-stage venture fund dedicated to deep tech startups developing disruptive technologies in AI, advanced materials, advanced manufacturing and clean tech. The roughly $47M fund positions itself as a lead investor on seed rounds of about $1M to $1.2M.","fr":"i4 Capital est un fonds de capital de risque d'amorcage base a Quebec, dedie aux startups deeptech qui developpent des technologies de rupture en IA, materiaux avances, fabrication innovante et technologies propres. Le fonds d'environ 47 M$ se positionne comme investisseur meneur sur des tours d'amorcage d'environ 1 a 1,2 M$."},"tagline":{"en":"Seed-stage deep tech in Quebec.","fr":"Deeptech au stade amorcage, au Quebec."},"valueAdd":{"en":["Deep tech seed specialization","Advanced materials and manufacturing expertise","Lead investor capacity","Quebec research and industry network","Technical diligence depth"],"fr":["Specialisation amorcage deeptech","Expertise materiaux avances et fabrication","Capacite d'investisseur meneur","Reseau quebecois recherche et industrie","Profondeur de diligence technique"]},"followOnNarrative":{"en":"i4 Capital reserves follow-on capital for its deep tech leaders and syndicates Series A rounds with Canadian deep tech and industrial co-investors. Follow-on conviction is tied to technical milestones and pilot contracts.","fr":"i4 Capital reserve du capital de suivi pour ses leaders deeptech et syndique les tours de serie A avec des co-investisseurs deeptech et industriels canadiens. La conviction de suivi est liee aux jalons techniques et aux contrats pilotes."},"keyQuestions":{"en":["What is the core technical risk, and what does the seed round retire?","Do you have pilot or letter-of-intent traction with industrial customers?","How protectable is the technology, through IP or know-how?"],"fr":["Quel est le risque technique central, et qu'est-ce que le tour d'amorcage neutralise?","Avez-vous une traction de pilotes ou de lettres d'intention avec des clients industriels?","Quelle est la protegeabilite de la technologie, par la PI ou le savoir-faire?"]},"coInvestors":[],"people":[],"portfolio":[{"name":"Axonal Networks","sector":"Deeptech / Hardware","stage":"2025","year":null},{"name":"DeepSight","sector":"AI / ML","stage":"2025","year":null},{"name":"Point.Laz","sector":"Deeptech / Hardware","stage":"","year":null},{"name":"Femtum","sector":"Deeptech / Hardware","stage":"","year":null},{"name":"Relocalize","sector":"Climate / Energy","stage":"","year":null}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://i4capital.vc/en/","lastVerifiedAt":"2026-05-20","editorialLevel":"Long tail (FR only)"},{"id":"rec103","slug":"aqc-capital","name":"AQC Capital","type":"VC","conviction":"generaliste","stages":["Pre-seed","Seed","Series A"],"sectors":["SaaS / Vertical SaaS","AI / ML","Healthtech / Biotech","Climate / Energy","Devtools / Infra","Fintech / Insurtech"],"ticket":{"min":500000,"max":2000000,"currency":"CAD","label":"$500k to $2M CAD"},"leadFollow":"Both","province":["QC"],"hq":{"city":"Montreal","region":"QC"},"languages":["FR","EN"],"founded":2012,"fundSize":{"value":150,"currency":"CAD","vintage":2021},"activity":"Tres actif","lastDealDate":"2025-10-28","website":"https://aqccapital.ca/?lang=en","linkedinURL":"https://ca.linkedin.com/company/aqc-capital","logo":"/assets/vc-logos/aqc-capital.png?v=4","logoBgColor":"#1D9E75","thesis":{"en":"AQC Capital is the institutional fund arm of the Anges Québec network, the largest angel investor network in Canada with 230+ active angels. AQC co-invests alongside Anges Québec members to expedite early-stage rounds and add institutional ticket weight. Two funds closed for $150M AUM total (Fund II at $64M in May 2021). LPs include Investissement Québec, Teralys Capital, CDPQ, Fonds de solidarité FTQ, Fondaction and Finalta Capital. Roughly 60 portfolio companies, multi-sector seed bias. 8 new investments in 2024 alone.","fr":"AQC Capital est le bras institutionnel du réseau Anges Québec, plus grand réseau d'investisseurs providentiels au Canada avec 230+ anges actifs. AQC co-investit aux côtés des membres pour accélérer les tours early-stage et apporter du poids institutionnel. Deux fonds clôturés, 150 M$ sous gestion (Fonds II à 64 M$ en mai 2021). LP institutionnels Investissement Québec, Teralys Capital, CDPQ, Fonds de solidarité FTQ, Fondaction, Finalta Capital. Environ 60 sociétés en portefeuille, biais seed multi-sectoriel. 8 nouveaux investissements en 2024."},"tagline":{"en":"The angel co-investment fund for Quebec seed.","fr":"Le fonds de co-investissement angel pour le seed québécois."},"valueAdd":{"en":["230+ angel co-investors network","Quebec institutional LP signal","First-check-friendly process","Multi-sector deal flow","Anges Québec ecosystem access"],"fr":["Réseau de 230+ anges co-investisseurs","Signal LP institutionnels QC","Process favorable premier chèque","Deal flow multi-sectoriel","Accès écosystème Anges Québec"]},"followOnNarrative":{"en":"AQC reserves pro-rata capacity inside its $150M AUM to follow into Series A alongside Anges Quebec syndicates and institutional partners (Inovia, BDC, Desjardins Capital, Investissement Quebec). The team expects regular reporting and a clear path to a Quebec or Canadian institutional lead for the next round.","fr":"AQC reserve une capacite pro rata au sein de ses 150 M$ sous gestion pour suivre en Serie A aux cotes des syndicats Anges Quebec et des partenaires institutionnels (Inovia, BDC, Desjardins Capital, Investissement Quebec). L'equipe attend un reporting regulier et un chemin clair vers un lead institutionnel quebecois ou canadien pour le prochain tour."},"keyQuestions":{"en":["Have you already engaged any Anges Québec members, and where do they sit in this round?","What angel-friendly governance would you accept (board observer, info rights)?","How does your roadmap match Quebec ecosystem follow-on capital (BDC, FTQ, Investissement Québec)?"],"fr":["Avez-vous déjà engagé des membres Anges Québec, et où se positionnent-ils sur ce tour?","Quelle gouvernance angel-friendly accepteriez-vous (observateur, droits d'information)?","Comment votre feuille de route s'aligne-t-elle sur le capital de follow-on québécois (BDC, FTQ, Investissement Québec)?"]},"coInvestors":[{"name":"Anges Québec","slug":"anges-quebec"},{"name":"Desjardins Capital","slug":"desjardins-capital"},{"name":"Investissement Québec","slug":"investissement-quebec"},{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"Oliva Capital","slug":"oliva-capital"},{"name":"Real Ventures","slug":"real-ventures"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Fonds de solidarité FTQ","slug":"fonds-de-solidarite-ftq"}],"people":[{"fullName":"Serge Beauchemin","role":"Managing Partner","linkedinURL":"","initials":"SB","avatarBgColor":"#534AB7"},{"fullName":"Kalthoum Bouacida","role":"Partner","linkedinURL":"","initials":"KB","avatarBgColor":"#1D9E75"},{"fullName":"Stéphane Caron","role":"Partner","linkedinURL":"","initials":"SC","avatarBgColor":"#A32D2D"},{"fullName":"Louis St-Jacques","role":"Partner","linkedinURL":"","initials":"LS","avatarBgColor":"#712B13"},{"fullName":"David Dufresne","role":"Investment Partner","linkedinURL":"","initials":"DD","avatarBgColor":"#0EA5E9"},{"fullName":"Geneviève Tanguay","role":"CEO Anges Québec (réseau partenaire)","linkedinURL":"","initials":"GT","avatarBgColor":"#F59E0B"}],"portfolio":[{"name":"Uno Platform","sector":"Devtools / Infra","stage":"Seed","year":2025},{"name":"Streamforge","sector":"Marketplace / Consumer","stage":"Seed","year":2025},{"name":"Trustii Technologies","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2024},{"name":"ReliON","sector":"Climate / Energy","stage":"Seed","year":2024},{"name":"EmergConnect","sector":"Healthtech / Biotech","stage":"Seed","year":2025},{"name":"FrontlineIQ","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2025},{"name":"Propulso","sector":"Marketplace / Consumer","stage":"Series A","year":2024}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://aqccapital.ca/about/?lang=en","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec104","slug":"vantec-angel-network","name":"VANTEC Angel Network","type":"Angel","conviction":"generaliste","stages":["Pre-seed","Seed"],"sectors":["Generalist (no thesis)"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Syndicate model, member-led"},"leadFollow":"Both","province":["BC"],"hq":{"city":"Vancouver","region":"BC"},"languages":["EN"],"founded":1999,"fundSize":null,"activity":"Tres actif","lastDealDate":null,"website":"https://www.vantec.ca/","linkedinURL":"https://ca.linkedin.com/company/vantecnetwork","logo":"/assets/vc-logos/vantec-angel-network.png?v=4","logoBgColor":"#0EA5E9","thesis":{"en":"VANTEC Angel Network is one of Canada's largest and oldest angel networks, operating in Vancouver since 1999. The network hosts 11 investor-focused pitch nights annually (in-person and online) where BC-based pre-seed and seed-stage tech founders present to accredited member investors. VANTEC members have invested in hundreds of BC companies across technology, life sciences and cleantech. Open to accredited investors who are actively investing or planning their first angel investment, the network is led by CEO Aaron Stuart and partners closely with SFU VentureLabs. Member-led syndicate model means cheques vary by deal and member appetite.","fr":"VANTEC Angel Network est l'un des plus grands et plus anciens réseaux d'anges au Canada, opérant à Vancouver depuis 1999. Le réseau héberge 11 soirées de pitch annuelles pour investisseurs (en personne et en ligne) où des fondateurs tech pre-seed et seed basés en C.-B. présentent à des membres investisseurs accrédités. Les membres VANTEC ont investi dans des centaines d'entreprises C.-B. en technologie, sciences de la vie et cleantech. Ouvert aux investisseurs accrédités actifs ou préparant leur premier investissement angel, le réseau est dirigé par le CEO Aaron Stuart et collabore étroitement avec SFU VentureLabs. Modèle de syndicat mené par les membres, les chèques varient selon le deal et l'appétit des membres."},"tagline":{"en":"Canada's oldest angel network, BC focus.","fr":"Le plus ancien réseau d'anges au Canada, focus BC."},"valueAdd":{"en":["Canada's longest-running angel network (since 1999)","11 pitch nights per year","SFU VentureLabs partnership","BC tech, life sciences, cleantech depth","Member-led syndicate model"],"fr":["Plus vieux réseau d'anges canadien (depuis 1999)","11 soirées de pitch par an","Partenariat SFU VentureLabs","Profondeur tech BC, sciences de la vie, cleantech","Modèle syndicat mené par membres"]},"followOnNarrative":{"en":"VANTEC operates as an angel syndicate, not a fund, so there are no pooled reserves. Follow-on participation depends on individual member conviction, and founders typically build a broader BC syndicate (Yaletown, Vanedge, Version One) for institutional Series A capital.","fr":"VANTEC fonctionne comme un syndicat d'anges, pas comme un fonds, donc il n'y a pas de reserves mutualisees. La participation aux tours suivants depend de la conviction de chaque membre, et les fondateurs batissent generalement un syndicat BC plus large (Yaletown, Vanedge, Version One) pour le capital institutionnel en Serie A."},"keyQuestions":{"en":["Are you incorporated and operating in British Columbia?","Are you ready to pitch on a monthly VANTEC cadence and absorb the variability of member-led syndicate sizing?","Have you engaged SFU VentureLabs or other BC innovation programs to strengthen your application?"],"fr":["Êtes-vous incorporé et opérationnel en Colombie-Britannique?","Êtes-vous prêt à pitcher à cadence mensuelle VANTEC et à absorber la variabilité du dimensionnement de syndicat mené par les membres?","Avez-vous engagé SFU VentureLabs ou d'autres programmes d'innovation C.-B. pour renforcer votre dossier?"]},"coInvestors":[{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Yaletown Partners","slug":"yaletown-partners"},{"name":"Version One Ventures","slug":"version-one-ventures"},{"name":"Vanedge Capital","slug":"vanedge-capital"},{"name":"Active Impact Investments","slug":"active-impact-investments"}],"people":[{"fullName":"Aaron Stuart","role":"CEO","linkedinURL":"https://www.linkedin.com/in/aaronjstuart/","initials":"AS","avatarBgColor":"#534AB7"},{"fullName":"Lindsey Volker","role":"Operations & Events","linkedinURL":"","initials":"LV","avatarBgColor":"#1D9E75"},{"fullName":"Thealzel Lee","role":"Board Member","linkedinURL":"","initials":"TL","avatarBgColor":"#A32D2D"}],"portfolio":[],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.vantec.ca/apply-to-pitch","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec105","slug":"investeco-capital","name":"InvestEco Capital","type":"VC","conviction":"pure-play","stages":["Series B+"],"sectors":["Marketplace / Consumer"],"ticket":{"min":3000000,"max":10000000,"currency":"CAD","label":"$3M to $10M CAD"},"leadFollow":"Both","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2002,"fundSize":{"value":100,"currency":"CAD","vintage":2024},"activity":"Selectif","lastDealDate":"2024-10-08","website":"https://investeco.com","linkedinURL":"https://www.linkedin.com/company/investeco-capital/","logo":"/assets/vc-logos/investeco-capital.png?v=4","logoBgColor":"#F59E0B","thesis":{"en":"Pure-play fund in sustainable agriculture and food. InvestEco invests in strong, well-managed food companies that are differentiated, offer health and sustainability attributes, and have the potential to outperform. Targets expansion-stage with revenues of $5M to $30M. Fund III closed at $100M in 2020. Fund IV had its first close in 2024. The thesis is anchored in food and sustainability rather than pure climate-energy. The team suits CPG and food-tech founders looking for a capital partner with deep sector expertise and a clear sustainability mandate.","fr":"Fonds pure-play en agriculture et alimentation durables, InvestEco investit dans des sociétés alimentaires solides et bien gérées, différenciées par leurs attributs santé et durabilité. Cible expansion-stage avec revenus de 5 à 30 M$. Le Fonds III a clôturé à 100 M$ en 2020. Le Fonds IV a démarré son premier closing en 2024. Thèse food et durabilité plus que climat-énergie pure."},"tagline":{"en":"Sustainable food, growth-stage capital.","fr":"Alimentation durable, capital de croissance."},"valueAdd":{"en":["Sustainable food expertise","Growth-stage discipline","Brand and category strategy","Retail and distribution intros","Impact LP base"],"fr":["Expertise alimentation durable","Discipline stade de croissance","Stratégie marque et catégorie","Intros retail et distribution","Base LP d'impact"]},"followOnNarrative":{"en":"InvestEco holds reserves to follow its food and ag portfolio through subsequent growth rounds, with frequent syndication alongside White Road, Meaningful Partners and FTQ. Founders share quarterly category KPIs and margin progression with the team.","fr":"InvestEco conserve des reserves pour suivre ses participations alimentation et agriculture sur les rondes de croissance subsequentes, en syndicat frequent avec White Road, Meaningful Partners et le FTQ. Les fondateurs partagent les KPI de categorie et la progression des marges au trimestre."},"keyQuestions":{"en":["What is your gross margin trajectory from current scale to a 5x revenue base?","Which sustainability and health attributes are differentiators that consumers actually pay for?","What does your path to $50M revenue and EBITDA positivity look like?"],"fr":["Quelle est votre trajectoire de marge brute du niveau actuel à une base de revenus 5x?","Quels attributs santé et durabilité sont des différenciateurs pour lesquels les consommateurs paient réellement?","À quoi ressemble votre chemin vers 50 M$ de revenus et un EBITDA positif?"]},"coInvestors":[{"name":"Meaningful Partners","slug":"meaningful-partners"},{"name":"White Road Investments","slug":"white-road-investments"},{"name":"Fonds de solidarite FTQ","slug":"fonds-de-solidarite-ftq"},{"name":"Desjardins Capital","slug":"desjardins-capital"},{"name":"Export Development Canada","slug":"export-development-canada"}],"people":[{"fullName":"Andrew Heintzman","role":"Managing Partner & Co-founder","linkedinURL":"https://ca.linkedin.com/in/andrew-heintzman-91876b1","initials":"AH","avatarBgColor":"#534AB7"},{"fullName":"Alex Chamberlain","role":"Managing Partner","linkedinURL":"https://ca.linkedin.com/in/alexander-chamberlain-1b8b3a3","initials":"AC","avatarBgColor":"#1D9E75"},{"fullName":"Charles Holt","role":"Partner","linkedinURL":"","initials":"CH","avatarBgColor":"#A32D2D"},{"fullName":"Cora Xiao","role":"Partner","linkedinURL":"","initials":"CX","avatarBgColor":"#712B13"},{"fullName":"Ricky Bajwa","role":"Director, Finance","linkedinURL":"","initials":"RB","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"Chickapea","sector":"Marketplace / Consumer","stage":"Growth","year":2025},{"name":"Om Mushroom Superfood","sector":"Marketplace / Consumer","stage":"Growth","year":2024},{"name":"Evive Nutrition","sector":"Marketplace / Consumer","stage":"Growth","year":2023},{"name":"GUSTA Foods","sector":"Marketplace / Consumer","stage":"Growth","year":2023},{"name":"Maison LeGrand","sector":"Marketplace / Consumer","stage":"Growth","year":2022},{"name":"Mara Renewables","sector":"Marketplace / Consumer","stage":"Growth","year":2022}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://investeco.com/our-funds/","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec106","slug":"badhouse-ventures","name":"Badhouse Ventures","type":"VC","conviction":"tech-actif","stages":["Pre-seed"],"sectors":["SaaS / Vertical SaaS","Web3 / Crypto"],"ticket":{"min":10000,"max":100000,"currency":"CAD","label":"$10K to $100K CAD"},"leadFollow":"Follow","province":["QC","ON","BC","AB"],"hq":{"city":"Vancouver","region":"BC"},"languages":["EN"],"founded":2018,"fundSize":null,"activity":"Selectif","lastDealDate":"2024-11-01","website":"https://www.badhouse.ca/","linkedinURL":"https://www.linkedin.com/company/badhouse-ventures/","logo":"/assets/vc-logos/badhouse-ventures.png?v=4","logoBgColor":"#EF4444","thesis":{"en":"Vancouver-based micro-VC investing pre-seed in software, AI, web3 and infosec, with a Western Canada anchor. Founded and run by Ralph Baddour, Badhouse writes the first institutional cheque alongside an operator network and stays close to founders at day zero. Portfolio includes Hootplan, ComplyAce, BlockSurvey, Bandit Labs and ioAirFlow. Fund size is undisclosed. Cheques are sized for pre-seed conviction rather than lead positioning at later stages.","fr":"Micro-VC vancouvérois investissant en pre-seed dans le logiciel (SaaS, IA, web3, infosec) avec un focus sur l'Ouest canadien. Badhouse mise sur un réseau d'opérateurs très impliqués pour accompagner les fondateurs au stade le plus précoce. Taille du fonds non divulguée publiquement. Approche tech-actif et conviction sur le pre-seed très early."},"tagline":{"en":"West Coast pre-seed, operator-led.","fr":"Pre-seed côte ouest, mené par des opérateurs."},"valueAdd":{"en":["Operator-led network","Western Canada focus","Crypto and infosec depth","Pre-seed conviction","Hands-on support"],"fr":["Réseau d'opérateurs","Focus Ouest canadien","Expertise crypto et infosec","Conviction pre-seed","Accompagnement actif"]},"followOnNarrative":{"en":"Badhouse holds modest reserves for pro-rata at seed and warm-intros Canadian and US leads for Series A. Founders should expect Badhouse to stay close at pre-seed and syndicate downstream rather than lead the next round.","fr":"Badhouse conserve des reserves modestes pour son pro-rata en seed et fait des intros chaudes vers des leads canadiens et americains pour la Serie A. Les fondateurs doivent compter sur Badhouse au pre-seed et une syndication aval plutot qu'un lead du tour suivant."},"keyQuestions":{"en":["What technical moat do you have at day zero versus fast followers?","How do you validate demand pre-revenue in software, web3, or infosec?","Who are the key operator hires you want to make in the next 6 months?"],"fr":["Quel fossé technique avez-vous au jour zéro face aux suiveurs rapides?","Comment validez-vous la demande avant revenu en logiciel, web3 ou infosec?","Quelles embauches d'opérateurs clés visez-vous dans les 6 prochains mois?"]},"coInvestors":[],"people":[{"fullName":"Ralph Baddour","role":"Founder, Managing Director","linkedinURL":"https://www.linkedin.com/in/ralphbaddour/","initials":"RB","avatarBgColor":"#534AB7"}],"portfolio":[{"name":"Hootplan","sector":"SaaS / Vertical SaaS","stage":"Pre-seed","year":2024},{"name":"ComplyAce","sector":"SaaS / Vertical SaaS","stage":"Pre-seed","year":2023},{"name":"BlockSurvey","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2022},{"name":"Supportbench","sector":"SaaS / Vertical SaaS","stage":"Pre-seed","year":2021},{"name":"Aboard","sector":"SaaS / Vertical SaaS","stage":"Pre-seed","year":2022},{"name":"Bandit Labs","sector":"AI / ML","stage":"Pre-seed","year":2022},{"name":"Trunkit","sector":"Marketplace / Consumer","stage":"Pre-seed","year":2021},{"name":"Forever Today","sector":"Web3","stage":"Pre-seed","year":2022},{"name":"ioAirFlow","sector":"Climate / Energy","stage":"Pre-seed","year":2020}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.badhouse.ca/portfolio","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec107","slug":"version-one-ventures","name":"Version One Ventures","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed","Series A"],"sectors":["SaaS / Vertical SaaS","Marketplace / Consumer","Web3 / Crypto"],"ticket":{"min":500000,"max":2000000,"currency":"CAD","label":"$500K-$2M"},"leadFollow":"Lead","province":["BC"],"hq":{"city":"Vancouver","region":"BC"},"languages":["EN"],"founded":2012,"fundSize":{"value":100,"currency":"CAD","vintage":2025},"activity":"Tres actif","lastDealDate":"2026-04-23","website":"https://versionone.vc/","linkedinURL":"https://www.linkedin.com/company/version-one-ventures","logo":"/assets/vc-logos/version-one-ventures.png?v=4","logoBgColor":"#C47A2F","thesis":{"en":"A West Coast pre-seed and seed reference, founded by Boris Wertz and led with Angela Tran from Vancouver. Version One invests in mission-driven founders in SaaS, marketplaces and crypto, with cheques of $500K to $2M CAD as lead. More than $250M in assets across six funds, with Fund VI and Opportunities Fund III closed in 2025. Track record of early investments in Coinbase, Dapper Labs, Uniswap and Shippo. Built for founders building durable internet businesses with a global lens from day one.","fr":"Référence en pré amorçage et amorçage sur la côte ouest canadienne, fondée par Boris Wertz et menée avec Angela Tran depuis Vancouver. Investit dans des fondateurs mission driven en SaaS, marketplaces et crypto, avec des tickets de 500 K à 2 M$ CAD en lead. Plus de 250 M$ d'actifs sur six fonds, avec le Fonds VI et l'Opportunities Fund III clôturés en 2025. Historique d'investissements précoces dans Coinbase, Dapper Labs, Uniswap, Shippo et autres."},"tagline":{"en":"West Coast seed for mission-driven founders","fr":"Amorçage côte ouest pour fondateurs mission driven"},"valueAdd":{"en":["Mission-driven thesis","Crypto-native expertise","Marketplace playbook","Long-tenured investor"],"fr":["Thèse mission driven","Expertise crypto native","Playbook marketplace","Investisseur expérimenté"]},"followOnNarrative":{"en":"Opportunities Fund III sits alongside the main fund to back the strongest portfolio companies into Series A, B and beyond.","fr":"L'Opportunities Fund III accompagne le fonds principal pour soutenir les meilleures sociétés du portefeuille en Série A, B et au delà."},"keyQuestions":{"en":["How does Version One define mission-driven for evaluating new founders?","What does post-investment support look like from Boris and Angela in the first year?","How do the main and opportunity funds coordinate on follow-on decisions?"],"fr":["Comment Version One définit il mission driven pour évaluer de nouveaux fondateurs?","À quoi ressemble l'accompagnement de Boris et Angela dans la première année après l'investissement?","Comment le fonds principal et le fonds d'opportunité se coordonnent ils sur les décisions de suivi?"]},"coInvestors":[{"name":"Real Ventures","slug":"real-ventures"},{"name":"Golden Ventures","slug":"golden-ventures"},{"name":"Andreessen Horowitz","slug":"andreessen-horowitz"},{"name":"Union Square Ventures","slug":"union-square-ventures"},{"name":"BDC Capital","slug":"bdc-capital"}],"people":[{"fullName":"Boris Wertz","role":"Founder & General Partner","linkedinURL":"https://ca.linkedin.com/in/bwertz","initials":"BW","avatarBgColor":"#534AB7"},{"fullName":"Angela Tran","role":"General Partner","linkedinURL":"https://www.linkedin.com/in/angela-tran-38262131","initials":"AT","avatarBgColor":"#1D9E75"}],"portfolio":[{"name":"GridBank","sector":"Devtools / Infra","stage":"Seed","year":2026},{"name":"Swoop","sector":"Marketplace / Consumer","stage":"Seed","year":2026},{"name":"Pluto Mobility","sector":"Climate / Energy","stage":"Seed","year":2026},{"name":"Arctus Aerospace","sector":"Deeptech / Hardware","stage":"Pre-seed","year":2025},{"name":"Bolt.Earth","sector":"Climate / Energy","stage":"Series A","year":2025},{"name":"Dapper Labs","sector":"Web3 / Crypto","stage":"Seed","year":2018},{"name":"Coinbase","sector":"Web3 / Crypto","stage":"Seed","year":2013}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://versionone.vc/","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec108","slug":"yaletown-partners","name":"Yaletown Partners","type":"VC","conviction":"tech-actif","stages":["Series A","Series B+"],"sectors":["Deeptech / Hardware","SaaS / Vertical SaaS","AI / ML"],"ticket":{"min":3000000,"max":15000000,"currency":"CAD","label":"$3M-$15M"},"leadFollow":"Lead","province":["BC"],"hq":{"city":"Vancouver","region":"BC"},"languages":["EN"],"founded":2001,"fundSize":{"value":600,"currency":"CAD","vintage":2025},"activity":"Actif","lastDealDate":"2025-09-15","website":"https://www.yaletown.com/","linkedinURL":"https://www.linkedin.com/company/yaletown-partners-inc-/","logo":"/assets/vc-logos/yaletown-partners.png?v=4","logoBgColor":"#534AB7","thesis":{"en":"Yaletown Partners finances the Intelligent Industry thesis, namely the digital transformation of traditional sectors (energy, supply chain, industrial automation) across North America. The firm targets technology companies at Series A and B+, with cheques of $3M to $15M and a frequent lead posture. Yaletown mobilizes a deep network of industrial customers (utilities, mining, manufacturers) to accelerate go-to-market for portfolio companies. Innovation Growth Fund III had a $100M first close in July 2025, with a target of $250M. Offices in Vancouver, Calgary, Edmonton, Toronto, Montreal and San Francisco.","fr":"Yaletown Partners finance la these Intelligent Industry, soit la transformation numerique des secteurs traditionnels (energie, chaine d'approvisionnement, automatisation industrielle) en Amerique du Nord. La firme cible les entreprises tech au stade serie A et B+, avec des cheques de 3 M$ a 15 M$, et prend regulierement le lead. Yaletown mobilise un reseau profond de clients industriels (utilites, miniere, manufacturiers) pour accelerer le go-to-market de ses participations. Innovation Growth Fund III a ferme un premier closing de 100 M$ en juillet 2025, avec un objectif de 250 M$. Bureaux a Vancouver, Calgary, Edmonton, Toronto, Montreal et San Francisco."},"tagline":{"en":"Digitizing heavy industry, one Series A at a time.","fr":"Numeriser l'industrie lourde, une serie A a la fois."},"valueAdd":{"en":["Industrial network","Customer intros","Energy expertise","Western Canada reach","Series A lead"],"fr":["Reseau industriel","Intros clients","Expertise energie","Portee Canada Ouest","Lead serie A"]},"followOnNarrative":{"en":"Reserves typically support one to two follow-on rounds, with Innovation Growth Fund III sized to lead Series B alongside US growth investors.","fr":"Les reserves soutiennent generalement une ou deux rondes follow-on, et Innovation Growth Fund III est dimensionne pour mener des series B aux cotes d'investisseurs growth americains."},"keyQuestions":{"en":["Which industrial customer would write a reference call today?","What is the payback period on a typical enterprise deployment?","How do you embed in an industrial customer's existing tech stack?"],"fr":["Quel client industriel donnerait une reference d'appel aujourd'hui?","Quelle est la periode de retour sur un deploiement enterprise typique?","Comment vous integrez-vous dans la stack tech existante d'un client industriel?"]},"coInvestors":[{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"Chrysalix Venture Capital","slug":"chrysalix-venture-capital"},{"name":"Export Development Canada","slug":"export-development-canada"},{"name":"Vistara Growth","slug":"vistara-growth"}],"people":[{"fullName":"Eric Bukovinsky","role":"Partner","linkedinURL":"https://www.linkedin.com/in/ericbukovinsky/","initials":"EB","avatarBgColor":"#534AB7"},{"fullName":"Salil Munjal","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/salil-munjal-icd-d/","initials":"SM","avatarBgColor":"#1D9E75"},{"fullName":"Hans Knapp","role":"Founding Partner","linkedinURL":"https://ca.linkedin.com/in/hans-knapp-30673","initials":"HK","avatarBgColor":"#A32D2D"},{"fullName":"Sophie Gupta","role":"Partner","linkedinURL":"","initials":"SG","avatarBgColor":"#712B13"},{"fullName":"Michael Sfalcin","role":"Partner","linkedinURL":"","initials":"MS","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"GHGSat","sector":"Climate / Energy","stage":"Series B+","year":2025},{"name":"Field AI","sector":"AI / ML","stage":"Series A","year":2025},{"name":"Nanoprecise","sector":"AI / ML","stage":"Series B+","year":2025},{"name":"Group14 Technologies","sector":"Deeptech / Hardware","stage":"Series B+","year":2025},{"name":"Elevated Signals","sector":"SaaS / Vertical SaaS","stage":"Series A","year":2024},{"name":"MineSense Technologies","sector":"Deeptech / Hardware","stage":"Series B+","year":2022},{"name":"Copperleaf","sector":"SaaS / Vertical SaaS","stage":"Series B+","year":2017}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.yaletown.com/news/yaletown-partners-announces-first-close-of-250-million-innovation-growth-fund-iii","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec109","slug":"telus-ventures","name":"TELUS Ventures","type":"CVC","conviction":"cvc","stages":["Seed","Series A","Series B+"],"sectors":["Healthtech / Biotech","AI / ML","Deeptech / Hardware"],"ticket":{"min":500000,"max":15000000,"currency":"CAD","label":"$500K-$15M"},"leadFollow":"Both","province":["BC"],"hq":{"city":"Vancouver","region":"BC"},"languages":["EN"],"founded":2001,"fundSize":{"value":625,"currency":"CAD","vintage":null},"activity":"Tres actif","lastDealDate":"2026-01-28","website":"https://www.telus.com/en/ventures/global-ventures","linkedinURL":"https://www.linkedin.com/company/telus-global-ventures","logo":"/assets/vc-logos/telus-ventures.png?v=4","logoBgColor":"#F59E0B","thesis":{"en":"TELUS Ventures is the corporate venture arm of TELUS Corporation, rebranded TELUS Global Ventures in 2024. The firm invests at pre-seed, seed and Series A in digital health, AI, smart cities and agtech, with high deal volume and over 150 portfolio companies across 10 countries. Cheques of $500K to $15M, lead or follow, with annual deployment of $150M to $200M. The core strategic value is access to the TELUS network (telecoms, healthcare, agriculture, security) for commercial pilots, distribution and channel acquisition. Built for founders who view a major Canadian operator as a GTM accelerator rather than a strategic threat.","fr":"Bras de capital de risque corporatif de TELUS Corporation, rebrande TELUS Global Ventures en 2024. Investit en pre-amorcage, amorcage et serie A dans la sante numerique, l'IA, les villes intelligentes et l'agtech, avec un haut volume de transactions et plus de 150 entreprises en portefeuille a travers 10 pays. Cheques de 500K$ a 15M$, lead ou follow, et deploiement annuel de 150 a 200 M$. Le levier strategique central est l'acces au reseau TELUS (telecoms, sante, agriculture, securite) pour pilotes commerciaux, distribution et acquisition. S'adresse aux fondateurs qui voient un grand operateur canadien comme accelerateur GTM, et non comme menace strategique."},"tagline":{"en":"Strategic capital, TELUS distribution at scale.","fr":"Capital strategique, distribution TELUS a l'echelle."},"valueAdd":{"en":["TELUS channel","Health network","Pilot customers","Smart city access","Strategic M&A"],"fr":["Canal TELUS","Reseau sante","Clients pilotes","Acces villes intelligentes","M&A strategique"]},"followOnNarrative":{"en":"Reserves follow-on capital for portfolio companies that achieve commercial traction with TELUS or its strategic partners, often through Series B and beyond.","fr":"Reserve du capital follow-on pour les entreprises qui obtiennent une traction commerciale avec TELUS ou ses partenaires strategiques, souvent jusqu'en serie B et au-dela."},"keyQuestions":{"en":["Where does TELUS sit in your GTM and where is the win for both sides?","What does a TELUS Health or Agriculture pilot unlock in 12 months?","How do you stay independent if TELUS becomes 30% of revenue?"],"fr":["Ou se positionne TELUS dans votre GTM et ou est le gain mutuel?","Que debloque un pilote TELUS Sante ou Agriculture en 12 mois?","Comment restez-vous independant si TELUS represente 30% des revenus?"]},"coInvestors":[{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"Real Ventures","slug":"real-ventures"},{"name":"Portage Ventures","slug":"portage-ventures"},{"name":"OMERS Ventures","slug":"omers-ventures"}],"people":[{"fullName":"Terry Doyle","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/doyleterry","initials":"TD","avatarBgColor":"#534AB7"},{"fullName":"Ming Chow","role":"Partner & Investment Director","linkedinURL":"https://www.linkedin.com/in/mingyichow/","initials":"MC","avatarBgColor":"#1D9E75"},{"fullName":"Chris Robertson","role":"Partner & Investment Director","linkedinURL":"https://ca.linkedin.com/in/cgrobertson","initials":"CR","avatarBgColor":"#A32D2D"},{"fullName":"Matthew Lombardi","role":"Partner, Platform Services","linkedinURL":"https://www.linkedin.com/in/lombardimatthew/","initials":"ML","avatarBgColor":"#712B13"},{"fullName":"Tanmay Bhargava","role":"Principal","linkedinURL":"https://ca.linkedin.com/in/tanmaybhargava","initials":"TB","avatarBgColor":"#0EA5E9"},{"fullName":"Rob Freele","role":"Investment Associate","linkedinURL":"https://www.linkedin.com/in/robertfreele/","initials":"RF","avatarBgColor":"#F59E0B"}],"portfolio":[{"name":"Waabi","sector":"AI / ML","stage":"Series B+","year":2026},{"name":"Eli Health","sector":"Healthtech / Biotech","stage":"Series A","year":2025},{"name":"CubeWorks","sector":"Deeptech / Hardware","stage":"Series B+","year":2025},{"name":"Optable","sector":"AI / ML","stage":"Series A","year":2025},{"name":"Clinia","sector":"Healthtech / Biotech","stage":"Series A","year":2024},{"name":"ChrysaLabs","sector":"AI / ML","stage":"Series A","year":2023},{"name":"Miovision","sector":"AI / ML","stage":"Series B+","year":2023}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.telus.com/en/ventures/global-ventures","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec110","slug":"white-star-capital","name":"White Star Capital","type":"VC","conviction":"tech-actif","stages":["Seed","Series A","Series B+"],"sectors":["AI / ML","Marketplace / Consumer","Climate / Energy","Cybersecurity","Fintech / Insurtech","Healthtech / Biotech","Devtools / Infra","SaaS / Vertical SaaS","Web3 / Crypto"],"ticket":{"min":2000000,"max":15000000,"currency":"CAD","label":"$2M-$15M"},"leadFollow":"Lead","province":["QC"],"hq":{"city":"Montreal","region":"QC"},"languages":["EN","FR"],"founded":2007,"fundSize":{"value":1350,"currency":"CAD","vintage":2022},"activity":"Actif","lastDealDate":"2026-04-29","website":"https://whitestarcapital.com/","linkedinURL":"https://www.linkedin.com/company/white-star-capital/","logo":"/assets/vc-logos/white-star-capital.png?v=4","logoBgColor":"#1D9E75","thesis":{"en":"International technology investment manager founded by Montrealers, investing in exceptional founders through three vehicles (Early Growth at Series A and B, Digital Asset for blockchain, Structured Growth for hybrid capital). Presence in eight markets (Montreal, Toronto, New York, London, Paris, Tokyo, Singapore) opens genuine cross-border corridor access. Cheques of $2M to $15M CAD across B2B tech, SaaS, fintech, climate and AI. A platform built for founders thinking globally beyond Canada from day one, with strong follow-on capacity and an active operator network across multiple ecosystems.","fr":"Gestionnaire de capital de risque international fondé par des Montréalais, qui investit dans des fondateurs ambitieux à travers trois véhicules (Early Growth en Série A et B, Digital Asset sur la blockchain, et Structured Growth en capital hybride). Présence sur huit marchés (Montréal, Toronto, New York, Londres, Paris, Tokyo, Singapour) qui ouvre un vrai accès aux corridors transfrontaliers. Tickets de 2 à 15 M$ CAD sur la tech B2B, SaaS, fintech, climat et IA. Une plateforme conçue pour les fondateurs qui voient grand au delà du Canada dès le départ."},"tagline":{"en":"Global multi-stage tech VC born in Montreal","fr":"VC tech mondial, racines montréalaises"},"valueAdd":{"en":["Cross-border GTM","Multi-stage capital","Global LP network","Digital asset depth"],"fr":["GTM transfrontalier","Capital multi-stade","Réseau LP mondial","Expertise crypto"]},"followOnNarrative":{"en":"White Star reserves significant capital for follow-ons through Series B and runs a separate Structured Growth Capital Fund for hybrid debt and equity at scale.","fr":"White Star réserve un capital significatif pour les tours de suivi jusqu'en Série B, et opère un fonds Structured Growth distinct pour combiner dette et équité au stade scale-up."},"keyQuestions":{"en":["Which of the three funds (Early Growth, Digital Asset, Structured Growth) is the right fit for our stage?","How does White Star activate its eight-office footprint to support a Canadian founder expanding into Europe, Asia or the US?","What is the typical follow-on reserve and pro-rata behaviour from Series A through Series C?"],"fr":["Lequel des trois fonds (Early Growth, Digital Asset, Structured Growth) correspond le mieux à notre stade?","Comment White Star mobilise t il ses huit bureaux pour soutenir un fondateur canadien en expansion vers l'Europe, l'Asie ou les États Unis?","Quelle est la réserve typique de suivi et le comportement pro rata de la Série A à la Série C?"]},"coInvestors":[{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"Real Ventures","slug":"real-ventures"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Investissement Québec","slug":"investissement-quebec"},{"name":"Caisse de dépôt et placement du Québec","slug":"caisse-de-depot-et-placement-du-quebec"}],"people":[{"fullName":"Eric Martineau-Fortin","role":"Founder & Managing Partner","linkedinURL":"https://www.linkedin.com/in/ericmartineaufortin/","initials":"EM","avatarBgColor":"#534AB7"},{"fullName":"Jean-François Marcoux","role":"Co-Founder & Managing Partner","linkedinURL":"https://ca.linkedin.com/in/jfmarcouxwsc","initials":"JM","avatarBgColor":"#1D9E75"},{"fullName":"Christophe Bourque","role":"General Partner","linkedinURL":"https://www.linkedin.com/in/christophebourque/","initials":"CB","avatarBgColor":"#A32D2D"},{"fullName":"Matthieu Lattes","role":"General Partner","linkedinURL":"https://www.linkedin.com/in/matthieulattes/","initials":"ML","avatarBgColor":"#712B13"}],"portfolio":[{"name":"Cata","sector":"Marketplace / Consumer","stage":"Seed","year":2026},{"name":"Kulipa","sector":"Fintech / Insurtech","stage":"Seed","year":2026},{"name":"Trayd","sector":"SaaS / Vertical SaaS","stage":"Series A","year":2026},{"name":"Billdr","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2026},{"name":"Spiko","sector":"Fintech / Insurtech","stage":"Series A","year":2025},{"name":"Dfns","sector":"Web3 / Crypto","stage":"Series A","year":2025},{"name":"Dapper Labs","sector":"Web3 / Crypto","stage":"Series A","year":2019}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://whitestarcapital.com/","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec111","slug":"omers-ventures","name":"OMERS Ventures","type":"VC","conviction":"tech-actif","stages":["Series A","Series B+"],"sectors":["AI / ML","Fintech / Insurtech","SaaS / Vertical SaaS"],"ticket":{"min":5000000,"max":30000000,"currency":"CAD","label":"$5M to $30M CAD"},"leadFollow":"Both","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2011,"fundSize":{"value":1000,"currency":"CAD","vintage":2019},"activity":"Selectif","lastDealDate":"2026-02-04","website":"https://omersventures.com","linkedinURL":"https://www.linkedin.com/company/omers-ventures/","logo":"/assets/vc-logos/omers-ventures.png?v=4","logoBgColor":"#1D9E75","thesis":{"en":"VC arm of OMERS pension fund, focused on early-stage tech in North America. OMERS Ventures invests at Series A through C in horizontal SaaS, vertical SaaS, fintech and AI enablement. Fund IV closed in 2019 at US$750M. Strategic repositioning in 2025 toward Canada, with a slower pace following the departure of Michael Yang. The team brings deep institutional credentials and the patience of pension capital, suiting founders who want a long-horizon partner with strong follow-on capacity through later rounds.","fr":"Bras VC de la caisse de retraite OMERS, axé sur la tech early-stage en Amérique du Nord. OMERS Ventures investit en Série A à C dans le SaaS horizontal, le SaaS vertical, la fintech et l'enablement IA. Le Fonds IV a clôturé en 2019 à 750 M$ US. Repositionnement stratégique en 2025 vers le Canada, avec un rythme ralenti après le départ de Michael Yang."},"tagline":{"en":"OMERS pension capital for Series A-C tech.","fr":"Capital pension OMERS pour Serie A a C."},"valueAdd":{"en":["Pension capital depth","Series A to C bridge","Canada-refocused mandate","Enterprise SaaS network","Long-duration capital"],"fr":["Profondeur capital de retraite","Pont Série A vers C","Mandat recentré sur le Canada","Réseau SaaS d'entreprise","Capital de longue durée"]},"followOnNarrative":{"en":"OMERS Ventures carries pension-grade reserves to support portfolio companies from Series A through C and beyond. Follow-on conviction is driven by Net Dollar Retention and clear path to top-quartile SaaS metrics.","fr":"OMERS Ventures dispose de reserves de capital de retraite pour suivre les societes de la Serie A jusqu'a C et au-dela. La conviction de suivi repose sur le Net Dollar Retention et une trajectoire vers les metriques SaaS du quartile superieur."},"keyQuestions":{"en":["Given OMERS Ventures refocused on Canada in 2025, how Canadian is your team, customer base and roadmap?","What is your net dollar retention and how does it compare to top-quartile public SaaS comparables?","Are you actively deploying capital into new logos this year, and what is your pace?"],"fr":["Étant donné qu'OMERS Ventures s'est recentré sur le Canada en 2025, à quel point votre équipe, votre base clients et votre feuille de route sont-elles canadiennes?","Quel est votre net dollar retention et comment se compare-t-il aux comparables SaaS publics du quartile supérieur?","Déployez-vous activement du capital dans de nouveaux logos cette année, et à quelle cadence?"]},"coInvestors":[{"name":"Goldman Sachs","slug":"goldman-sachs"},{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"Bessemer Venture Partners","slug":"bessemer-venture-partners"},{"name":"Greylock Partners","slug":"greylock-partners"},{"name":"Lightspeed Venture Partners","slug":"lightspeed-venture-partners"},{"name":"Accel","slug":"accel"}],"people":[{"fullName":"Saar Pikar","role":"Managing Director, Head of Ventures & Growth","linkedinURL":"https://www.linkedin.com/in/saarpikar/","initials":"SP","avatarBgColor":"#534AB7"},{"fullName":"Henry Gladwyn","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/henry-gladwyn-08083036/","initials":"HG","avatarBgColor":"#1D9E75"},{"fullName":"Brian Kobus","role":"Managing Partner, Fund Operations","linkedinURL":"https://www.linkedin.com/in/briankobus/","initials":"BK","avatarBgColor":"#A32D2D"},{"fullName":"Laura Lenz","role":"Managing Director","linkedinURL":"https://www.linkedin.com/in/lauralenz/","initials":"LL","avatarBgColor":"#712B13"},{"fullName":"Eugene Lee","role":"Partner","linkedinURL":"https://www.linkedin.com/in/eugenelee3/","initials":"EL","avatarBgColor":"#0EA5E9"},{"fullName":"Marissa Moore","role":"Principal, Vertical AI","linkedinURL":"https://www.linkedin.com/in/marissa-schlueter-moore/","initials":"MM","avatarBgColor":"#F59E0B"},{"fullName":"Taku Murahwi","role":"Investor","linkedinURL":"","initials":"TM","avatarBgColor":"#EC4899"},{"fullName":"Ryan Zauk","role":"Investor","linkedinURL":"","initials":"RZ","avatarBgColor":"#14B8A6"},{"fullName":"Julianna Vitolo","role":"Investor","linkedinURL":"","initials":"JV","avatarBgColor":"#A855F7"}],"portfolio":[{"name":"Turnstile","sector":"SaaS / Vertical SaaS","stage":"Series A","year":2026},{"name":"Octaura","sector":"Fintech / Insurtech","stage":"Series A","year":2025},{"name":"OneVest","sector":"Fintech / Insurtech","stage":"Series B","year":2025},{"name":"Float Financial","sector":"Fintech / Insurtech","stage":"Series B+","year":2025},{"name":"Brightwave","sector":"AI / ML","stage":"Series A","year":2024},{"name":"League","sector":"Healthtech / Biotech","stage":"Growth","year":null},{"name":"Hootsuite","sector":"SaaS / Vertical SaaS","stage":"Growth","year":null}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.omersventures.com/","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec112","slug":"extreme-venture-partners","name":"Extreme Venture Partners","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed","Series A"],"sectors":["SaaS / Vertical SaaS","AI / ML","Fintech / Insurtech","Cybersecurity"],"ticket":{"min":500000,"max":2500000,"currency":"CAD","label":"$500K-$2.5M"},"leadFollow":"Lead","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2007,"fundSize":{"value":270,"currency":"CAD","vintage":2022},"activity":"Selectif","lastDealDate":"2024-07-29","website":"https://www.evp.vc/","linkedinURL":"https://www.linkedin.com/company/extreme-venture-partners","logo":"/assets/vc-logos/extreme-venture-partners.png?v=4","logoBgColor":"#EC4899","thesis":{"en":"Extreme Venture Partners (EVP) is a Toronto seed VC active since 2007, with ~$270M CAD cumulative AUM across three funds and more than 100 portfolio companies. EVP targets B2B software startups in the Toronto-Waterloo corridor at pre-seed and seed. Cheques of $500K to $2.5M CAD with a lead posture, plus highly operational support on first hires, go-to-market motion and Series A readiness. The fund is known for a pragmatic approach: high conviction, disciplined follow-on, and a dense Toronto entrepreneur-mentor network.","fr":"Extreme Venture Partners (EVP) est un VC torontois d'amorçage actif depuis 2007, avec ~270 M$ CA d'AUM cumulés sur trois fonds et plus de 100 sociétés en portefeuille. EVP cible les startups B2B logicielles dans le corridor Toronto Waterloo, en pré amorçage et amorçage. Tickets de 500 K$ à 2,5 M$ CA, en posture lead, avec accompagnement très opérationnel sur les premiers recrutements, le go to market et la levée de la Série A. Le fonds revendique une approche pragmatique : conviction forte, follow on disciplinés et un réseau dense de mentors entrepreneurs torontois."},"tagline":{"en":"Toronto-Waterloo seed VC, lead cheques $500K-$2.5M","fr":"VC d'amorçage Toronto Waterloo, tickets 500 K$ à 2,5 M$"},"valueAdd":{"en":["Founder-first seed lead","Toronto-Waterloo network","Series A bridge to top US funds","Recruiting","Pricing & GTM"],"fr":["Lead amorçage centré fondateur","Réseau Toronto Waterloo","Pont vers les meilleurs fonds américains en Série A","Recrutement","Pricing et GTM"]},"followOnNarrative":{"en":"EVP follows on into Series A pro-rata for its strongest performers and actively introduces them to top-tier US Series A leads. Discipline is high: not every seed gets a follow-on.","fr":"EVP exerce son pro rata en Série A pour ses meilleures sociétés et les présente activement à des fonds américains de premier plan. La discipline est forte : tous les amorçages ne sont pas suivis."},"keyQuestions":{"en":["Are you a B2B software founder based in Ontario with a working product and early customers?","Are you raising a $1-3M seed and looking for a hands-on lead with strong local roots?","Are you targeting a US/global market with a credible Series A path within 18 months?"],"fr":["Êtes-vous fondateur d'un logiciel B2B basé en Ontario, avec un produit fonctionnel et des premiers clients ?","Levez-vous un amorçage de 1 à 3 M$ et cherchez-vous un lead très impliqué, ancré localement ?","Visez-vous un marché américain ou mondial avec un plan Série A crédible sous 18 mois ?"]},"coInvestors":[{"name":"MaRS IAF","slug":"mars-iaf"},{"name":"Real Ventures","slug":"real-ventures"},{"name":"Golden Ventures","slug":"golden-ventures"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Inovia Capital","slug":"inovia-capital"}],"people":[{"fullName":"Imran Bashir","role":"Partner","linkedinURL":"https://ca.linkedin.com/in/ibashir","initials":"IB","avatarBgColor":"#534AB7"},{"fullName":"Ray Sharma","role":"Founder & Partner","linkedinURL":"https://www.linkedin.com/in/raysharma/","initials":"RS","avatarBgColor":"#1D9E75"},{"fullName":"Ken Teslia","role":"Founding Partner / Chairman","linkedinURL":"https://www.linkedin.com/in/ken-teslia-7056a719/","initials":"KT","avatarBgColor":"#A32D2D"},{"fullName":"Ian Ainsworth","role":"Partner","linkedinURL":"","initials":"IA","avatarBgColor":"#712B13"},{"fullName":"Aniket Patel","role":"Partner","linkedinURL":"","initials":"AP","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"BlueDot","sector":"Healthtech / Biotech","stage":"Seed","year":2014},{"name":"Ada","sector":"AI / ML","stage":"Seed","year":2017},{"name":"Top Hat","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2010},{"name":"Rocketr","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2019},{"name":"Knockri","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2020}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.evp.vc/portfolio","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec113","slug":"pangaea-ventures","name":"Pangaea Ventures","type":"VC","conviction":"pure-play","stages":["Seed","Series A","Series B+"],"sectors":["Climate / Energy","Healthtech / Biotech"],"ticket":{"min":1000000,"max":5000000,"currency":"CAD","label":"$1M to $5M CAD"},"leadFollow":"Both","province":["BC"],"hq":{"city":"Vancouver","region":"BC"},"languages":["EN"],"founded":2000,"fundSize":{"value":115,"currency":"CAD","vintage":2022},"activity":"Selectif","lastDealDate":"2025-12-04","website":"https://pangaeaventures.com","linkedinURL":"https://www.linkedin.com/company/pangaea-ventures/","logo":"/assets/vc-logos/pangaea-ventures.png?v=4","logoBgColor":"#0EA5E9","thesis":{"en":"Hardtech and materials science specialist with a 25-year track record. Pangaea invests in entrepreneurs tackling fundamental global challenges by leveraging advances in chemistry, biology, physics and materials science. Fund V closed at $115M CAD as a sustainable impact fund. Disciplined thematic approach with long-term conviction, suited for science-anchored founders building durable industrial businesses. The team brings deep chemistry and materials expertise plus a global network of corporate and academic partners that accelerates commercial validation.","fr":"Spécialiste hardtech et science des matériaux avec plus de 25 ans d'historique. Pangaea investit dans des entrepreneurs s'attaquant aux grands défis mondiaux en exploitant les avancées en chimie, biologie, physique et sciences des matériaux. Le Fonds V a clôturé à 115 M$ CA en tant que fonds d'impact durable. Approche thématique disciplinée et convictions de long terme."},"tagline":{"en":"Hard tech for hard global problems.","fr":"Hard tech pour les grands defis mondiaux."},"valueAdd":{"en":["Materials science depth","25-year hard tech track record","Sustainability impact mandate","Cross-border syndicate access","Patient long-cycle capital"],"fr":["Expertise sciences des matériaux","Historique hardtech de 25 ans","Mandat impact durabilité","Accès syndicats transfrontaliers","Capital patient long cycle"]},"followOnNarrative":{"en":"Pangaea reserves meaningful capital per company for Series B and beyond, given the long commercialization cycles of materials and hardtech. Follow-on is gated by clear technical milestones and a first off-take or strategic partner.","fr":"Pangaea reserve un capital significatif par entreprise pour les Series B et au-dela, vu les longs cycles de commercialisation hardtech et materiaux. Le suivi est conditionne par des jalons techniques clairs et un premier partenaire commercial ou strategique."},"keyQuestions":{"en":["What is the science risk versus the scale-up risk, and where are you on each curve?","Who is your first commercial off-take partner and what does their contract look like?","How do you think about timelines that may run 7 to 10 years to commercial scale?"],"fr":["Quel est le risque scientifique par rapport au risque de mise à l'échelle, et où êtes-vous sur chaque courbe?","Qui est votre premier partenaire commercial de prise et à quoi ressemble son contrat?","Comment pensez-vous à des échéances qui peuvent courir 7 à 10 ans jusqu'à l'échelle commerciale?"]},"coInvestors":[{"name":"Asahi Glass","slug":"asahi-glass"},{"name":"Toyota Tsusho","slug":"toyota-tsusho"},{"name":"Novo Nordisk","slug":"novo-nordisk"},{"name":"Radical Ventures","slug":"radical-ventures"},{"name":"InBC","slug":"inbc"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Breakthrough Energy Ventures","slug":"breakthrough-energy-ventures"},{"name":"Evok Innovations","slug":"evok-innovations"}],"people":[{"fullName":"Chris Erickson","role":"Founding General Partner","linkedinURL":"https://www.linkedin.com/in/chris-erickson-013203/","initials":"CE","avatarBgColor":"#534AB7"},{"fullName":"Andrew Haughian","role":"Partner","linkedinURL":"https://www.linkedin.com/in/andrew-haughian-21a6991/","initials":"AH","avatarBgColor":"#1D9E75"},{"fullName":"Sarah Applebaum","role":"Partner","linkedinURL":"https://www.linkedin.com/in/sarahapplebaum/","initials":"SA","avatarBgColor":"#A32D2D"},{"fullName":"Janelle Goulard","role":"Partner","linkedinURL":"","initials":"JG","avatarBgColor":"#712B13"}],"portfolio":[{"name":"pH7 Technologies","sector":"Climate / Energy","stage":"Series B","year":2025},{"name":"Versogen","sector":"Climate / Energy","stage":"Series A","year":2024},{"name":"Kanvas Biosciences","sector":"Healthtech / Biotech","stage":"Series A","year":2024},{"name":"Biodel AG","sector":"Climate / Energy","stage":"Series A","year":2024},{"name":"Aspect Biosystems","sector":"Healthtech / Biotech","stage":"Series B","year":2025},{"name":"CarbonCure Technologies","sector":"Climate / Energy","stage":"Growth","year":null},{"name":"Green Theme Technologies","sector":"Climate / Energy","stage":"Series B+","year":2024},{"name":"Nautilus Data Technologies","sector":"Deeptech / Hardware","stage":"Growth","year":null}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.pangaeaventures.com/portfolio","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec114","slug":"trillick-ventures","name":"Trillick Ventures","type":"VC","conviction":"generaliste","stages":["Pre-seed","Seed"],"sectors":["Generalist (no thesis)"],"ticket":{"min":250000,"max":1000000,"currency":"CAD","label":"$250K-$1M"},"leadFollow":"Lead","province":["MB","SK","AB","ON"],"hq":{"city":"Winnipeg","region":"MB"},"languages":["EN"],"founded":2024,"fundSize":{"value":15,"currency":"CAD","vintage":2024},"activity":"Actif","lastDealDate":"2025-12-01","website":"https://trillick.ca/","linkedinURL":"https://www.linkedin.com/company/trillick-ventures/","logo":"/assets/vc-logos/trillick-ventures.png?v=4","logoBgColor":"#10B981","thesis":{"en":"Winnipeg-based Fund I of $15M targeting pre-seed and seed, with two-thirds focused on Manitoba. Trillick aims for a portfolio of 20 to 25 companies, with approximately $5M raised and three investments to date. Led by Iain Crozier, the fund is active through the CSCA and engaged in the Canadian emerging-managers ecosystem. The team backs Manitoban founders who need a regional first cheque institutional partner with strong syndication ties to national funds for follow-on rounds.","fr":"Fonds I de 15 M$ basé à Winnipeg, ciblant le pre-seed et le seed avec un focus de deux tiers sur le Manitoba. Trillick vise un portefeuille de 20 à 25 sociétés. Environ 5 M$ levés et trois investissements à ce jour. Dirigé par Iain Crozier, le fonds est actif via la CSCA et participe activement à l'écosystème des emerging managers canadiens."},"tagline":{"en":"Manitoba-rooted seed capital.","fr":"Capital seed enracine au Manitoba."},"valueAdd":{"en":["Manitoba ecosystem","Prairies network","Emerging managers community","First institutional check","Regional anchor LP"],"fr":["Écosystème manitobain","Réseau des Prairies","Communauté emerging managers","Premier chèque institutionnel","Ancrage régional"]},"followOnNarrative":{"en":"First-cheque fund with limited reserves on a $15M Fund I, so follow-on is selective. Trillick relies on national syndicate partners (BDC Capital, Valhalla, Tech Manitoba) to anchor Series A rounds for breakout Manitoba companies.","fr":"Fonds de premier cheque avec reserves limitees sur un Fonds I de 15 M$, donc le follow-on est selectif. Trillick s'appuie sur des partenaires de syndication nationaux (BDC Capital, Valhalla, Tech Manitoba) pour ancrer les Series A des meilleures sociétés du Manitoba."},"keyQuestions":{"en":["How does Manitoba talent and cost structure give you a durable advantage?","What does your follow-on syndication strategy look like into Series A?","How do you build national customer pipeline from a Winnipeg base?"],"fr":["En quoi le talent et la structure de coûts du Manitoba vous donnent-ils un avantage durable?","À quoi ressemble votre stratégie de syndication follow-on vers la Série A?","Comment bâtissez-vous un pipeline client national à partir de Winnipeg?"]},"coInvestors":[{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Tech Manitoba","slug":"tech-manitoba"},{"name":"Valhalla Private Capital","slug":"valhalla-private-capital"},{"name":"North Forge","slug":"north-forge"}],"people":[{"fullName":"Iain Crozier","role":"Founder & General Partner","linkedinURL":"https://www.linkedin.com/in/iaincrozier/","initials":"IC","avatarBgColor":"#534AB7"},{"fullName":"Saif Hashmi","role":"Venture Partner","linkedinURL":"https://www.linkedin.com/in/saif-hashmi/","initials":"SH","avatarBgColor":"#1D9E75"},{"fullName":"Mark Hlady","role":"Venture Partner","linkedinURL":"","initials":"MH","avatarBgColor":"#A32D2D"},{"fullName":"Noah Palansky","role":"Venture Partner","linkedinURL":"https://ca.linkedin.com/in/noahpalansky","initials":"NP","avatarBgColor":"#712B13"}],"portfolio":[{"name":"ConstructionClock","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2025},{"name":"Parallel","sector":"Marketplace / Consumer","stage":"Seed","year":2025},{"name":"3Common","sector":"SaaS / Vertical SaaS","stage":"Pre-seed","year":2025},{"name":"Pluto Ventures","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2025}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://trillick.ca/","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec115","slug":"bcf-ventures","name":"BCF Ventures","type":"CVC","conviction":"cvc","stages":["Pre-seed","Seed","Series A","Series B+"],"sectors":["Generalist (no thesis)"],"ticket":{"min":100000,"max":500000,"currency":"CAD","label":"$100K-$500K"},"leadFollow":"Follow","province":["QC","ON","BC","AB"],"hq":{"city":"Montreal","region":"QC"},"languages":["EN","FR"],"founded":2018,"fundSize":{"value":12,"currency":"CAD","vintage":2018},"activity":"Selectif","lastDealDate":"2025-04-09","website":"https://bcfventures.vc/","linkedinURL":"https://ca.linkedin.com/company/bcfventures","logo":"/assets/vc-logos/bcf-ventures.png?v=4","logoBgColor":"#0EA5E9","thesis":{"en":"Montreal-based corporate VC spun out from BCF, a leading Quebec business law firm. Fund of approximately $12M targeting seed and seed+ in tech, primarily in North America with opportunistic exposure to Europe and Israel. Generalist approach with access to BCF's business law network as the distinctive value-add. The team suits Quebec and broader Canadian founders who want a partner with deep legal-commercial network and meaningful first-cheque support, particularly through cross-border structuring and corporate-law expertise.","fr":"CVC montréalais issu du cabinet d'avocats BCF, spécialisé en droit des affaires québécois. Fonds d'environ 12 M$ ciblant le seed et seed+ en tech, principalement en Amérique du Nord avec des opportunités opportunistes en Europe et en Israël. Approche généraliste avec accès au réseau juridique d'affaires de BCF comme valeur ajoutée distinctive."},"tagline":{"en":"Law firm meets venture capital.","fr":"Cabinet d'avocats rencontre capital de risque."},"valueAdd":{"en":["Quebec legal network","Cross-border legal support","Montreal ecosystem","Corporate law expertise","Israel and Europe access"],"fr":["Réseau juridique québécois","Soutien juridique transfrontalier","Écosystème montréalais","Expertise droit corporatif","Accès Israël et Europe"]},"followOnNarrative":{"en":"BCF Ventures reserves capital for pro-rata follow-on in Series A and partners with Round13 Capital, Arthur Ventures and ATB Financial on syndicated rounds. Founders benefit from BCF's law firm bench for cap table, IP and cross-border structuring through Series B and beyond.","fr":"BCF Ventures reserve du capital pour le suivi pro rata en Serie A et s'associe a Round13 Capital, Arthur Ventures et ATB Financial pour les tours syndiques. Les fondateurs beneficient du banc du cabinet BCF pour la cap table, la PI et le structuring transfrontalier jusqu'en Serie B et au dela."},"keyQuestions":{"en":["What corporate, IP, or contracting questions are slowing you down today?","How will you structure expansion into the US, Europe, or Israel?","What does your cap table and governance need to look like by Series A?"],"fr":["Quelles questions corporatives, PI ou contractuelles vous ralentissent aujourd'hui?","Comment structurerez-vous votre expansion aux États-Unis, en Europe ou en Israël?","À quoi doivent ressembler votre cap table et votre gouvernance d'ici la Série A?"]},"coInvestors":[{"name":"Round13 Capital","slug":"round13-capital"},{"name":"Arthur Ventures","slug":"arthur-ventures"},{"name":"InterGen Capital","slug":"intergen-capital"},{"name":"ATB Financial","slug":"atb-financial"},{"name":"Real Ventures","slug":"real-ventures"}],"people":[{"fullName":"Sergio A. Escobar","role":"CEO & Partner","linkedinURL":"https://www.linkedin.com/in/sergiosec/","initials":"SA","avatarBgColor":"#534AB7"},{"fullName":"Anne-Marie Boucher","role":"Chairwoman & Founding Investor","linkedinURL":"","initials":"AB","avatarBgColor":"#1D9E75"},{"fullName":"Bonnie Chau","role":"Principal","linkedinURL":"","initials":"BC","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Athennian","sector":"SaaS / Vertical SaaS","stage":"Series A","year":2025},{"name":"Class8","sector":"SaaS / Vertical SaaS","stage":"Series A","year":2024},{"name":"FightCamp","sector":"Marketplace / Consumer","stage":"Series A","year":2021},{"name":"MedStack","sector":"Healthtech / Biotech","stage":"Seed","year":2020}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://bcfventures.vc/","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec116","slug":"spring-impact-capital","name":"Spring Impact Capital","type":"VC","conviction":"pure-play","stages":["Pre-seed","Seed"],"sectors":["Climate / Energy","Healthtech / Biotech"],"ticket":{"min":250000,"max":750000,"currency":"CAD","label":"$250k to $750k CAD"},"leadFollow":"Both","province":["BC","AB","QC","ON"],"hq":{"city":"Vancouver","region":"BC"},"languages":["EN"],"founded":2023,"fundSize":{"value":14,"currency":"CAD","vintage":2023},"activity":"Actif","lastDealDate":null,"website":"https://springimpactcapital.com/","linkedinURL":"https://www.linkedin.com/company/springimpactcapital","logo":"/assets/vc-logos/spring-impact-capital.png?v=4","logoBgColor":"#14B8A6","thesis":{"en":"Spring Impact Capital is a Vancouver impact venture fund backing early-stage Canadian startups innovating in human and planetary health, spanning climate and healthtech. The $14M fund invests pre-seed and seed across the country, can lead rounds, and held its final close in October 2025.","fr":"Spring Impact Capital est un fonds de capital de risque d'impact base a Vancouver qui soutient des startups canadiennes en amorcage innovant en sante humaine et planetaire, du climat au healthtech. Le fonds de 14 M$ investit au pre-amorcage et a l'amorcage partout au pays, peut mener des tours, et a tenu sa cloture finale en octobre 2025."},"tagline":{"en":"Early-stage impact: human and planetary health.","fr":"Impact en amorcage: sante humaine et planetaire."},"valueAdd":{"en":["Impact measurement rigor","Climate and health dual focus","Pan-Canadian startup network","Spring accelerator alumni base","Pre-seed lead capacity"],"fr":["Rigueur de mesure d'impact","Double focus climat et sante","Reseau de startups pancanadien","Base d'anciens de l'accelerateur Spring","Capacite de lead au pre-amorcage"]},"followOnNarrative":{"en":"Spring Impact Capital holds reserves for follow-on into its impact portfolio and connects founders to climate and health co-investors for Series A. Follow-on depends on both commercial traction and verified impact.","fr":"Spring Impact Capital conserve des reserves pour suivre son portefeuille d'impact et connecte les fondateurs a des co-investisseurs climat et sante pour la serie A. Le suivi depend a la fois de la traction commerciale et d'un impact verifie."},"keyQuestions":{"en":["How do you measure your human or planetary health impact credibly?","Is impact intrinsic to your product, or a side effect?","What is your path to a venture-scale return alongside that impact?"],"fr":["Comment mesurez-vous de facon credible votre impact sur la sante humaine ou planetaire?","L'impact est-il intrinseque a votre produit, ou un effet secondaire?","Quel est votre chemin vers un rendement a l'echelle du capital de risque, en plus de cet impact?"]},"coInvestors":[],"people":[{"fullName":"Keith Ippel","role":"Co-Founder","linkedinURL":"","initials":"KI","avatarBgColor":"#534AB7"},{"fullName":"Graham Day","role":"Co-Founder","linkedinURL":"","initials":"GD","avatarBgColor":"#1D9E75"},{"fullName":"Olivia Hornby","role":"Co-Founder","linkedinURL":"","initials":"OH","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"RetinaLogik","sector":"Healthtech / Biotech","stage":"2025","year":null},{"name":"Open Ocean Robotics","sector":"Climate / Energy","stage":"2025","year":null},{"name":"BioAlert Solutions","sector":"Climate / Energy","stage":"","year":null},{"name":"Skyward Wildfire","sector":"Climate / Energy","stage":"","year":null}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://springimpactcapital.com/","lastVerifiedAt":"2026-05-20","editorialLevel":"Long tail (FR only)"},{"id":"rec117","slug":"antler-canada","name":"Antler Canada","type":"VC","conviction":"generaliste","stages":["Pre-seed","Seed"],"sectors":["Generalist (no thesis)"],"ticket":{"min":150000,"max":150000,"currency":"CAD","label":"Day-zero check, around $150k CAD"},"leadFollow":"Lead","province":["ON","QC","BC","AB"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2022,"fundSize":null,"activity":"Actif","lastDealDate":"2026-03-26","website":"https://www.antler.co/location/canada","linkedinURL":"https://www.linkedin.com/company/antler/","logo":"/assets/vc-logos/antler-canada.png?v=4","logoBgColor":"#A855F7","thesis":{"en":"Antler Canada is the Canadian division of Singapore-headquartered global day-zero VC Antler, launched in Toronto in 2022. Antler operates a cohort-based pre-launch program where individual founders pitch, form teams, and receive a C$150k check for roughly 10 percent to build the company from day zero. Fund II is in preparation, expected in 2026 and larger than Fund I, led by GPs Bernie Li and Tammer Kamel (former Quandl CEO, sold to Nasdaq) with associate partner Shambhavi Mishra. Portfolio includes EZee Assist (AI for franchisees), Chexy, Glassbox and NetNow. Around 19 to 36 investments to date with one exit (ZofiQ).","fr":"Antler Canada est la division canadienne d'Antler, fonds VC mondial jour zéro basé à Singapour, lancé à Toronto en 2022. Antler opère un programme par cohortes pour fondateurs avant lancement : pitch individuel, formation d'équipes, chèque d'environ 100 k$ pour bâtir l'entreprise au jour zéro. Le Fonds II est en préparation, dirigé par les GPs Bernie Li et Tammer Kamel (ex-CEO de Quandl, cession au Nasdaq) avec Shambhavi Mishra en partenaire associée. Portefeuille incluant EZee Assist (IA franchisés), Chexy, Glassbox, NetNow. 19 investissements à ce jour avec une sortie (ZofiQ)."},"tagline":{"en":"Day-zero pre-seed fund, builds founding teams.","fr":"Fonds pre-seed jour zéro, bâtit les équipes fondatrices."},"valueAdd":{"en":["Day-zero founder program","Global Antler network (30+ countries)","Cohort-based team building","Operator GPs (Quandl exit)","B2B SaaS, fintech and marketplace lens"],"fr":["Programme fondateur jour zéro","Réseau Antler global (30+ pays)","Constitution d'équipes par cohorte","GPs opérateurs (sortie Quandl)","Lentille SaaS B2B, fintech et marketplace"]},"followOnNarrative":{"en":"Antler typically writes a $100k day-zero cheque and reserves capacity for pro-rata participation in the seed round. Graduates rely on Antler's global network (30+ countries) plus Canadian co-investors like Golden Ventures, Garage Capital and Version One for the institutional seed lead.","fr":"Antler ecrit typiquement un cheque jour zero de 100 k$ et reserve une capacite pour participer pro rata au tour seed. Les diplomes s'appuient sur le reseau global Antler (30+ pays) et sur des co-investisseurs canadiens comme Golden Ventures, Garage Capital et Version One pour le lead seed institutionnel."},"keyQuestions":{"en":["Are you applying as a solo founder open to co-founder matching, or as an existing team?","Which Antler cohort dates fit your timeline to start building full-time?","What stage do you expect to reach by the time you graduate the day-zero program?"],"fr":["Postulez-vous en tant que fondateur solo ouvert au matching de co-fondateur, ou en équipe déjà formée?","Quelles dates de cohorte Antler correspondent à votre disponibilité pour vous lancer à plein temps?","Quel stade pensez-vous atteindre à la sortie du programme jour zéro?"]},"coInvestors":[{"name":"Golden Ventures","slug":"golden-ventures"},{"name":"Garage Capital","slug":"garage-capital"},{"name":"Version One Ventures","slug":"version-one-ventures"},{"name":"FutureSight","slug":"futuresight"},{"name":"Mistral Venture Partners","slug":"mistral-venture-partners"}],"people":[{"fullName":"Bernie Li","role":"General Partner","linkedinURL":"","initials":"BL","avatarBgColor":"#534AB7"},{"fullName":"Tammer Kamel","role":"General Partner","linkedinURL":"","initials":"TK","avatarBgColor":"#1D9E75"},{"fullName":"Shambhavi Mishra","role":"Associate Partner","linkedinURL":"","initials":"SM","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"EZee Assist","sector":"AI / ML","stage":"Pre-seed","year":2024},{"name":"Chexy","sector":"Fintech / Insurtech","stage":"Pre-seed","year":2024},{"name":"Glassbox","sector":"SaaS / Vertical SaaS","stage":"Pre-seed","year":2024},{"name":"NetNow","sector":"Fintech / Insurtech","stage":"Pre-seed","year":2024},{"name":"Assyro AI","sector":"AI / ML","stage":"Seed","year":2025}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://betakit.com/antler-canada-adds-former-quandl-ceo-tammer-kamel-as-vc-firm-gears-up-for-fund-ii/","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec118","slug":"capital-angel-network","name":"Capital Angel Network","type":"Angel","conviction":"generaliste","stages":["Pre-seed","Seed","Series A"],"sectors":["SaaS / Vertical SaaS","AI / ML","Cybersecurity","Healthtech / Biotech","Climate / Energy","Devtools / Infra"],"ticket":{"min":200000,"max":1000000,"currency":"CAD","label":"Syndicate model, $200k to $1M"},"leadFollow":"Both","province":["ON","QC"],"hq":{"city":"Ottawa","region":"ON"},"languages":["EN","FR"],"founded":2009,"fundSize":null,"activity":"Tres actif","lastDealDate":"2025-08-07","website":"https://www.capitalangels.ca/","linkedinURL":"https://ca.linkedin.com/company/capital-angel-network","logo":"/assets/vc-logos/capital-angel-network.png?v=4","logoBgColor":"#3B82F6","thesis":{"en":"Capital Angel Network (CAN) is the angel investor network of the Ottawa-Gatineau region, founded in 2009 as a nonprofit membership organization of accredited investors. 55+ active members including new and established angels, VCs and family offices, with 30% women members. Since inception, CAN members have invested more than $67M in early-stage companies, leveraging over $700M in additional capital from grants, syndication and VC follow-on. 180 companies backed across software, hardware, cleantech, agtech, biotech and SaaS, with 44 firms in current portfolio. Notable investments: Planetary, BluWave-ai, Plum.io. Latest deal: Xatoms $2M seed on June 20, 2025 alongside Quantacet and Genesis Ventures.","fr":"Capital Angel Network (CAN) est le réseau d'investisseurs anges de la région d'Ottawa-Gatineau, fondé en 2009 comme organisation à but non lucratif d'investisseurs accrédités. 55+ membres actifs incluant des anges nouveaux et établis, des VCs et des family offices, dont 30% de femmes. Depuis sa création, les membres de CAN ont investi plus de 67 M$ dans des entreprises early-stage, générant un effet de levier de 700 M$+ en capital additionnel via subventions, syndication et follow-on VC. 180 entreprises appuyées à travers logiciel, matériel, cleantech, agtech, biotech et SaaS, dont 44 en portefeuille actuel. Investissements notables : Planetary, BluWave-ai, Plum.io. Dernier deal : Xatoms en ronde seed de 2 M$ le 20 juin 2025 aux côtés de Quantacet et Genesis Ventures."},"tagline":{"en":"Ottawa-Gatineau bilingual angel network.","fr":"Le réseau d'anges bilingue d'Ottawa-Gatineau."},"valueAdd":{"en":["Ottawa-Gatineau hub access","55+ accredited investor members","30% women members","$700M+ leverage track record","B2B SaaS, IoT, cybersecurity focus"],"fr":["Accès hub Ottawa-Gatineau","55+ membres investisseurs accrédités","30% de femmes membres","Effet de levier 700 M$+ démontré","Focus SaaS B2B, IoT, cybersécurité"]},"followOnNarrative":{"en":"CAN members invest individually rather than from a fund, so follow-on is decided deal by deal. The 55+ active angels and family offices regularly recommit to winners and have unlocked over $700M in additional capital via grants, syndication and VC follow-on alongside Quantacet, BDC Capital and Mistral Venture Partners.","fr":"Les membres de CAN investissent individuellement plutot que via un fonds, donc le suivi se decide dossier par dossier. Les 55+ anges actifs et family offices remettent souvent au pot sur les gagnants et ont debloque plus de 700 M$ en capital additionnel via subventions, syndication et suivis VC aux cotes de Quantacet, BDC Capital et Mistral Venture Partners."},"keyQuestions":{"en":["Are you incorporated in or connected to the Ottawa-Gatineau region?","Does your sector align with CAN's verticals (B2B SaaS, IoT, AI, cybersecurity, health and wellness)?","What grants or follow-on capital pathways (federal, provincial) would CAN angels help you unlock?"],"fr":["Êtes-vous incorporé ou rattaché à la région d'Ottawa-Gatineau?","Votre secteur s'aligne-t-il sur les verticales de CAN (SaaS B2B, IoT, IA, cybersécurité, santé et bien-être)?","Quels parcours de subventions ou follow-on (fédéral, provincial) les anges CAN vous aideraient-ils à débloquer?"]},"coInvestors":[{"name":"Quantacet","slug":"quantacet"},{"name":"Genesis Ventures","slug":"genesis-ventures"},{"name":"Maple Leaf Angels","slug":"maple-leaf-angels"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Mistral Venture Partners","slug":"mistral-venture-partners"}],"people":[{"fullName":"Jennifer Francis","role":"Chair of the Board","linkedinURL":"https://www.linkedin.com/in/jennifer-francis261/","initials":"JF","avatarBgColor":"#534AB7"},{"fullName":"Suzanne Grant","role":"Executive Director","linkedinURL":"https://www.linkedin.com/in/grantsuzanne/","initials":"SG","avatarBgColor":"#1D9E75"}],"portfolio":[{"name":"RIPTK","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2025},{"name":"Xatoms","sector":"Climate / Energy","stage":"Pre-seed","year":2025},{"name":"EmergConnect","sector":"Healthtech / Biotech","stage":"Seed","year":2025},{"name":"Planetary","sector":"SaaS / Vertical SaaS","stage":"Seed","year":null},{"name":"BluWave-ai","sector":"AI / ML","stage":"Seed","year":null},{"name":"Plum.io","sector":"SaaS / Vertical SaaS","stage":"Seed","year":null}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.capitalangels.ca/about","lastVerifiedAt":"2026-05-19","editorialLevel":"Top 30 (full)"},{"id":"rec119","slug":"weave-vc","name":"Weave VC","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed"],"sectors":["Fintech / Insurtech","SaaS / Vertical SaaS","Deeptech / Hardware"],"ticket":{"min":250000,"max":750000,"currency":"CAD","label":"$250K-$750K"},"leadFollow":"Both","province":["BC","AB","SK"],"hq":{"city":"Vancouver","region":"BC"},"languages":["EN"],"founded":2022,"fundSize":{"value":6,"currency":"CAD","vintage":2024},"activity":"Actif","lastDealDate":"2025-01-16","website":"https://weavevc.com/","linkedinURL":"https://ca.linkedin.com/company/weavevc","logo":"/assets/vc-logos/weave-vc.png?v=4","logoBgColor":"#EC4899","thesis":{"en":"Vancouver-based pre-seed fund focused on Western Canada (BC, Alberta, Saskatchewan). Weave closed its inaugural $6M fund in October 2024. Although tagged fintech, the thesis is broader and covers B2B software and deep tech. Tech-active approach with a strong regional anchor and a focus on first institutional cheques. The team backs early Western Canadian founders who need a local lead with conviction, fast decisions and meaningful operational support before scaling into national or US capital.","fr":"Fonds vancouvérois pre-seed pour l'Ouest canadien (Colombie-Britannique, Alberta, Saskatchewan). Weave a clôturé son fonds inaugural de 6 M$ en octobre 2024. Bien qu'étiqueté fintech, la thèse est plus large et couvre logiciels B2B et deep tech. Approche tech-actif avec ancrage régional et premiers chèques institutionnels."},"tagline":{"en":"Western Canada pre-seed weaver.","fr":"Tisseur pre-seed de l'Ouest canadien."},"valueAdd":{"en":["Western Canada pre-seed","Fintech and B2B focus","Vancouver ecosystem","First institutional check","Deep tech curiosity"],"fr":["Pre-seed Ouest canadien","Focus fintech et B2B","Écosystème vancouvérois","Premier chèque institutionnel","Ouverture deep tech"]},"followOnNarrative":{"en":"Inaugural $6M fund means Weave writes a first cheque and relies on syndicate partners (Valhalla, Thin Air Labs, BDC, Alberta Enterprise) to anchor Series A. Pro-rata is preserved selectively on top performers.","fr":"Fonds inaugural de 6 M$, donc Weave ecrit un premier cheque et s'appuie sur ses partenaires de syndication (Valhalla, Thin Air Labs, BDC, Alberta Enterprise) pour ancrer la Serie A. Le pro-rata est preserve selectivement sur les meilleures performances."},"keyQuestions":{"en":["What regulatory or compliance edge do you have if you are in fintech?","How do you sequence your first 10 design-partner customers?","What does the Series A bar look like for Western Canada companies today?"],"fr":["Quel avantage réglementaire ou de conformité avez-vous si vous êtes en fintech?","Comment ordonnancez-vous vos 10 premiers clients design partners?","À quoi ressemble la barre de Série A aujourd'hui pour les sociétés de l'Ouest canadien?"]},"coInvestors":[{"name":"Valhalla Private Capital","slug":"valhalla-private-capital"},{"name":"Thin Air Labs","slug":"thin-air-labs"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Alberta Enterprise Corporation","slug":"alberta-enterprise-corporation"},{"name":"Accelerate Fund","slug":"accelerate-fund"}],"people":[{"fullName":"Marco Donadeo","role":"General Partner","linkedinURL":"https://www.linkedin.com/in/marco-donadeo-320b29127/","initials":"MD","avatarBgColor":"#534AB7"},{"fullName":"Jeffrey Manner","role":"General Partner","linkedinURL":"","initials":"JM","avatarBgColor":"#1D9E75"},{"fullName":"Mark Mitchell","role":"General Partner","linkedinURL":"https://www.linkedin.com/in/mark-mitchell1992/","initials":"MM","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Innova Cleantech","sector":"Climate / Energy","stage":"Seed","year":2025},{"name":"LightStrike AI","sector":"AI / ML","stage":"Seed","year":2024},{"name":"ResVR","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2024},{"name":"Levr","sector":"Fintech / Insurtech","stage":"Seed","year":2024},{"name":"RetreatsandVenues","sector":"Marketplace / Consumer","stage":"Seed","year":2023}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://weavevc.com/","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec120","slug":"capital-m-ventures","name":"Capital M Ventures","type":"VC","conviction":"generaliste","stages":["Pre-seed","Seed"],"sectors":["Generalist (no thesis)"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Not disclosed"},"leadFollow":"Both","province":["QC","ON","BC","AB"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2021,"fundSize":null,"activity":"Selectif","lastDealDate":"2024-10-30","website":"https://www.capitalmvc.com/","linkedinURL":"https://www.linkedin.com/company/capital-m-ventures/","logo":"/assets/vc-logos/capital-m-ventures.png?v=4","logoBgColor":"#3B82F6","thesis":{"en":"Toronto-based seed fund focused on racialized women founders and Black founders, founded in 2021 by Melissa Allen. Capital M is a founding member of the Canadian Startup Capital Association and writes the first institutional cheque in a multi-sector thesis. The fund is built to unlock structural capital for founders historically underfunded in Canada, pairing capital with active network access and operator support. Portfolio includes Nunafab and Spontivly.","fr":"Fonds torontois seed et early-stage axe sur les fondatrices racisees et les fondateurs noirs. Fonde en 2021 par Melissa Allen, Capital M est membre fondateur de la Canadian Startup Capital Association. Approche multi-sectorielle avec deploiement sur les premiers cheques institutionnels. Mission de debloquer le capital structurel pour des fondateurs traditionnellement sous-finances au Canada."},"tagline":{"en":"First institutional check for diverse founders.","fr":"Premier chèque institutionnel, fondateurs divers."},"valueAdd":{"en":["Diverse founder focus","First institutional check","CSCA founding member","Toronto ecosystem","Underrepresented network"],"fr":["Focus fondateurs sous-représentés","Premier chèque institutionnel","Membre fondateur CSCA","Écosystème torontois","Réseau diversifié"]},"followOnNarrative":{"en":"Capital M reserves selectively for pro-rata at seed and leans on CSCA member funds and downstream Canadian leads to anchor Series A. Founders should expect warm intros into the broader diverse-founder syndicate rather than a lead from Capital M at the next round.","fr":"Capital M reserve de maniere selective pour le pro-rata en seed et s'appuie sur les fonds membres de la CSCA et des leads canadiens aval pour ancrer la Serie A. Les fondateurs doivent compter sur des intros chaudes dans le syndicat des fondateurs divers plutot qu'un lead de Capital M au tour suivant."},"keyQuestions":{"en":["What is your founder-market fit and how does it create asymmetric insight?","How will you build a sales engine that scales beyond founder-led selling?","What does your hiring plan look like in the first 18 months?"],"fr":["Quel est votre fit fondateur-marché et comment crée-t-il une perspective asymétrique?","Comment bâtirez-vous un moteur de vente qui dépasse le founder-led selling?","À quoi ressemble votre plan d'embauche sur les 18 premiers mois?"]},"coInvestors":[],"people":[{"fullName":"Melissa Allen","role":"Founding Partner","linkedinURL":"https://www.linkedin.com/in/melissaallenmba/","initials":"MA","avatarBgColor":"#534AB7"}],"portfolio":[{"name":"Nunafab","sector":"Deeptech / Hardware","stage":"Seed","year":2024},{"name":"Spontivly","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2022}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.capitalmvc.com/","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"},{"id":"rec121","slug":"glen-ventures","name":"Glen Ventures","type":"VC","conviction":"pure-play","stages":["Pre-seed","Seed","Series A"],"sectors":["Healthtech / Biotech"],"ticket":{"min":250000,"max":1000000,"currency":"CAD","label":"$250k to $1M CAD"},"leadFollow":"Both","province":["QC","ON"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2024,"fundSize":{"value":5,"currency":"CAD","vintage":2024},"activity":"Actif","lastDealDate":"2025-02-01","website":"https://glenventures.ca/","linkedinURL":"https://ca.linkedin.com/company/glen-ventures","logo":"/assets/vc-logos/glen-ventures.png?v=4","logoBgColor":"#8B5CF6","thesis":{"en":"Glen Ventures is a Montreal venture firm investing exclusively in early-stage healthtech, with a focus on commercializing intellectual property from Quebec public research institutions. Affiliated with the McGill University Health Centre, it secured a $5M Eureka mandate in late 2024 and led the seed round of Paperplane Therapeutics.","fr":"Glen Ventures est une firme de capital de risque montrealaise qui investit exclusivement en healthtech au stade d'amorcage, avec un accent sur la commercialisation de la propriete intellectuelle des institutions de recherche publiques du Quebec. Affiliee au Centre universitaire de sante McGill, elle a obtenu un mandat Eureka de 5 M$ fin 2024 et a mene le tour d'amorcage de Paperplane Therapeutics."},"tagline":{"en":"Healthtech from Quebec research IP.","fr":"Healthtech issu de la PI de recherche quebecoise."},"valueAdd":{"en":["Quebec research IP commercialization","McGill health centre affiliation","Healthtech domain expertise","Seed lead capacity","Academic and clinical network"],"fr":["Commercialisation de la PI de recherche quebecoise","Affiliation au centre de sante McGill","Expertise du domaine healthtech","Capacite de lead a l'amorcage","Reseau academique et clinique"]},"followOnNarrative":{"en":"Glen Ventures backs companies from SPVs today and, once its dedicated fund closes, will reserve follow-on capital for healthtech leaders, syndicating Series A with Canadian health investors. Follow-on tracks clinical and adoption milestones.","fr":"Glen Ventures soutient aujourd'hui des entreprises via des SPVs et, une fois son fonds dedie clos, reservera du capital de suivi pour ses leaders healthtech, en syndiquant la serie A avec des investisseurs sante canadiens. Le suivi suit les jalons cliniques et d'adoption."},"keyQuestions":{"en":["Is your core IP cleanly licensed from the research institution?","What clinical or adoption evidence do you have so far?","Who is the payer, and how long is the sales cycle?"],"fr":["Votre PI centrale est-elle clairement licenciee depuis l'institution de recherche?","Quelles preuves cliniques ou d'adoption avez-vous a ce jour?","Qui est le payeur, et quelle est la duree du cycle de vente?"]},"coInvestors":[],"people":[],"portfolio":[{"name":"Paperplane Therapeutics","sector":"Healthtech / Biotech","stage":"Seed","year":2025}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://glenventures.ca/about","lastVerifiedAt":"2026-05-20","editorialLevel":"Long tail (FR only)"},{"id":"rec122","slug":"boreal-ventures","name":"Boreal Ventures","type":"VC","conviction":"tech-actif","stages":["Seed","Series A"],"sectors":["Deeptech / Hardware","Climate / Energy","SaaS / Vertical SaaS","Healthtech / Biotech"],"ticket":{"min":1500000,"max":3000000,"currency":"CAD","label":"$1.5M to $3M CAD"},"leadFollow":"Lead","province":["QC"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2021,"fundSize":{"value":80,"currency":"CAD","vintage":2026},"activity":"Actif","lastDealDate":"2026-04-02","website":"https://www.boreal.vc","linkedinURL":"https://www.linkedin.com/company/borealvc/","logo":"/assets/vc-logos/boreal-ventures.png?v=4","logoBgColor":"#A855F7","thesis":{"en":"Quebec-based deeptech fund born from a partnership with Centech (ETS). Boreal invests from pre-seed through Series A in Canadian technology companies with a strong technology moat, particularly those rooted in applied science and engineering. The team supports scientific founders all the way to internationalization. Fund II, launched in 2026, targets $60M. Boreal suits engineer-founders building deep technology businesses that need a partner with technical depth and clear conviction to back hardware and applied-science thesis from inception.","fr":"Fonds deeptech québécois né en partenariat avec le Centech (ETS). Boreal investit du pre-seed à la Série A dans des entreprises technologiques canadiennes avec un fossé technologique fort, particulièrement celles enracinées dans la science appliquée et l'ingénierie. L'équipe accompagne les fondateurs scientifiques jusqu'à l'internationalisation. Le Fonds II, démarré en 2026, vise 60 M$."},"tagline":{"en":"Deeptech, from Centech labs to global scale.","fr":"Deeptech, des labos Centech a l'international."},"valueAdd":{"en":["Centech ETS pipeline","Deeptech commercialization","Applied science depth","Scientist-to-CEO coaching","Quebec-to-global scaling"],"fr":["Pipeline Centech ETS","Commercialisation deeptech","Expertise sciences appliquées","Coaching scientifique vers PDG","Mise à l'échelle Québec vers global"]},"followOnNarrative":{"en":"Fund II launched in 2026 targets $60M with reserves earmarked for Series A follow-ons. Boreal syndicates downstream rounds with BDC Capital, Inovia, Real Ventures, Investissement Quebec, Fonds de solidarite FTQ and Desjardins Capital.","fr":"Le Fonds II demarre en 2026 vise 60 M$ avec des reserves dediees aux suivis en Serie A. Boreal syndique les rondes aval avec BDC Capital, Inovia, Real Ventures, Investissement Quebec, le Fonds de solidarite FTQ et Desjardins Capital."},"keyQuestions":{"en":["What is your defensible technology moat and how does the IP map to your roadmap?","How do you bridge from a scientific prototype to a paying first commercial customer?","What does your team need to add to go from lab founders to a scaling commercial organization?"],"fr":["Quel est votre fossé technologique défendable et comment la PI s'aligne avec votre feuille de route?","Comment passez-vous d'un prototype scientifique à un premier client commercial payant?","Que doit ajouter votre équipe pour passer de fondateurs de laboratoire à une organisation commerciale en scaling?"]},"coInvestors":[{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Real Ventures","slug":"real-ventures"},{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"Investissement Quebec","slug":"investissement-quebec"},{"name":"Fonds de solidarité FTQ","slug":"fonds-de-solidarite-ftq"},{"name":"Desjardins Capital","slug":"desjardins-capital"}],"people":[{"fullName":"David Charbonneau","role":"Managing Partner","linkedinURL":"https://ca.linkedin.com/in/davidcharbonneau1","initials":"DC","avatarBgColor":"#534AB7"},{"fullName":"Antony Langlais","role":"Partner","linkedinURL":"","initials":"AL","avatarBgColor":"#1D9E75"},{"fullName":"Etienne Crevier","role":"Principal","linkedinURL":"","initials":"EC","avatarBgColor":"#A32D2D"},{"fullName":"Olivier Garceau","role":"Principal","linkedinURL":"","initials":"OG","avatarBgColor":"#712B13"},{"fullName":"Samuel Larivière","role":"Principal","linkedinURL":"","initials":"SL","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"SmartD Technologies","sector":"Climate / Energy","stage":"Series A","year":2026},{"name":"Femtum","sector":"Deeptech / Hardware","stage":"Series A","year":2026},{"name":"FLiiP","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2025},{"name":"Kento Health","sector":"Healthtech / Biotech","stage":"Pre-seed","year":2023},{"name":"Ditch Labs","sector":"Healthtech / Biotech","stage":"Seed","year":2024},{"name":"Flojoy","sector":"Deeptech / Hardware","stage":"Seed","year":2023},{"name":"Trustii","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2023}],"dealLog":[],"icCadence":"","nextICDate":"","verifiedSource":"https://www.boreal.vc","lastVerifiedAt":"2026-05-19","editorialLevel":"Long tail (FR only)"}]}