{"generatedAt":"2026-07-05T05:08:08.853Z","source":"Airtable:CFOFractalca:Investors enhanced CA (live)","count":151,"stats":{"byStage":{"Pre-seed":91,"Seed":118,"Series A":72,"Series B+":51},"byProvince":{"QC":81,"BC":45,"ON":92,"OTHER":46,"NS":12,"NB":10,"NL":11,"PE":9,"AB":42,"SK":8,"MB":7},"byType":{"Other":19,"VC":107,"Public":11,"CVC":6,"Angel":5,"PE":2,"Family Office":1},"leadCount":142,"convictionPurePlay":51,"lastUpdated":"Jul 5, 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":"admare-bioinnovations","name":"adMare BioInnovations","type":"Other","conviction":"pure-play","stages":["Pre-seed","Seed"],"sectors":["Healthtech / Biotech"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Not disclosed"},"leadFollow":"Lead","province":["QC","BC","ON"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2019,"fundSize":null,"activity":"Actif","lastDealDate":"2026-05-13","website":"https://www.admarebio.com/","linkedinURL":"","logo":"/assets/vc-logos/admare-bioinnovations.png?v=4","logoBgColor":"#10B981","thesis":{"en":"adMare BioInnovations is a national, largely federally and industry funded life sciences venture builder, institute, and investor, often described as Canada's life sciences company creation engine. Rather than writing cheques as a pure VC, it co-creates and scales biotech, therapeutics, and medical-device companies out of Canadian academic research, combining catalytic pre-seed and seed investment (through its adMare Ventures arm) with hands-on commercial R&D, IP and business-development expertise, and over 200,000 sq ft of turnkey lab space in Montreal and Vancouver. Founders and scientists engage in three main ways: by partnering to translate promising academic discoveries into co-founded, investable companies; by accessing the adMare Academy and Executive Institute to build industry-ready talent and leadership; and by working with adMare to scale existing Canadian life sciences companies toward their next inflection point. The institute reinvests its commercial returns back into the Canadian ecosystem to sustain it long term. To date it has helped create roughly 39 companies that have attracted about 2.5 billion dollars in risk capital and reached a combined value of about 5.8 billion. It is a destination for scientists and entrepreneurs who need capital, deep drug-development expertise, infrastructure, and network in one place, not a passive financial backer.","fr":"adMare BioInnovations est un constructeur d'entreprises, un institut et un investisseur national en sciences de la vie, largement finance par le federal et l'industrie, souvent decrit comme le moteur canadien de creation d'entreprises du secteur. Plutot que d'emettre des cheques comme un pur fonds de capital de risque, il co-cree et fait grandir des entreprises de biotechnologie, de therapeutique et de dispositifs medicaux issues de la recherche academique canadienne, en combinant un investissement catalytique de pre-amorcage et d'amorcage (via son bras adMare Ventures) avec une expertise concrete en R&D commerciale, propriete intellectuelle et developpement des affaires, et plus de 200 000 pieds carres de laboratoires cles en main a Montreal et Vancouver. Les fondateurs et scientifiques s'engagent de trois facons principales: en s'associant pour traduire des decouvertes academiques prometteuses en entreprises co-fondees et investissables; en accedant a l'adMare Academy et a l'Executive Institute pour developper du talent et du leadership prets pour l'industrie; et en travaillant avec adMare pour faire grandir des entreprises canadiennes existantes vers leur prochain palier de valeur. L'institut reinvestit ses rendements commerciaux dans l'ecosysteme canadien pour le soutenir a long terme. A ce jour, il a contribue a creer environ 39 entreprises ayant attire pres de 2,5 milliards de dollars de capital a risque et atteint une valeur combinee d'environ 5,8 milliards. C'est une destination pour les scientifiques et entrepreneurs qui ont besoin de capital, d'une expertise pointue en developpement de medicaments, d'infrastructures et de reseau au meme endroit, pas un bailleur de fonds passif."},"tagline":{"en":"Canada's life sciences company creation engine.","fr":"Le moteur canadien de creation d'entreprises en sciences de la vie."},"valueAdd":{"en":["Company creation engine: co-founds and builds companies from academic research, not just funds them","In-house drug-development capability: 100+ scientific and commercial experts plus 200,000+ sq ft of turnkey labs in Montreal and Vancouver","National, pan-Canadian footprint (QC, BC, ON) backed by government and industry funding, with returns reinvested into the ecosystem","Integrated talent engine: adMare Academy, Executive Institute and BIS program train industry-ready talent (900+ alumni)","Proven exit track record (Inversago to Novo Nordisk, Bellus to GSK, Precision NanoSystems to Danaher)"],"fr":["Moteur de creation d'entreprises: co-fonde et batit des entreprises a partir de la recherche academique, pas seulement les finance","Capacite interne de developpement de medicaments: plus de 100 experts scientifiques et commerciaux et plus de 200 000 pieds carres de laboratoires cles en main a Montreal et Vancouver","Empreinte nationale, pancanadienne (QC, BC, ON), soutenue par des fonds publics et industriels, avec des rendements reinvestis dans l'ecosysteme","Moteur de talent integre: adMare Academy, Executive Institute et programme BIS forment du talent pret pour l'industrie (plus de 900 diplomes)","Bilan d'exits prouve (Inversago vers Novo Nordisk, Bellus vers GSK, Precision NanoSystems vers Danaher)"]},"followOnNarrative":{"en":"adMare acts as a single-stop partner that contributes catalytic seed capital, professional R&D scientists, state-of-the-art infrastructure, IP and commercialization expertise, and a deep national and international partner network across every step from early drug development to commercialization. It works in a flexible shared risk and reward, co-founding model, embedding its experts alongside founders to generate data, IP, and a compelling business case that secures private-sector investors. For scientists and existing companies alike, the goal is to de-risk the science and reach the next value inflection point so that promising Canadian research becomes scalable, investable companies.","fr":"adMare agit comme un partenaire unique qui apporte du capital d'amorcage catalytique, des scientifiques R&D professionnels, des infrastructures de pointe, une expertise en PI et commercialisation, et un reseau de partenaires national et international, a chaque etape du developpement precoce du medicament jusqu'a la commercialisation. Il travaille selon un modele flexible de risque et rendement partages, en co-fondation, integrant ses experts aux cotes des fondateurs pour generer donnees, PI et dossier d'affaires convaincant qui securise les investisseurs prives. Pour les scientifiques comme pour les entreprises existantes, l'objectif est de derisquer la science et d'atteindre le prochain palier de valeur, afin que la recherche canadienne prometteuse devienne des entreprises evolutives et investissables."},"keyQuestions":{"en":["What unmet medical need does your technology address, and how differentiated and defensible (IP) is it versus existing approaches?","Is your discovery at a translatable pre-clinical stage where an adMare seed investment plus hands-on company building can reach a clear value inflection point that attracts private capital?","Are you a Canadian-rooted academic team or emerging company open to co-creation (shared risk and reward, co-founding, shared infrastructure) rather than a simple financing?"],"fr":["Quel besoin medical non comble votre technologie adresse-t-elle, et a quel point est-elle differenciee et defendable (PI) face aux approches existantes?","Votre decouverte est-elle a un stade preclinique traduisible ou un investissement d'amorcage d'adMare, double d'une construction d'entreprise concrete, peut atteindre un palier de valeur clair qui attire le capital prive?","Etes-vous une equipe academique ou une entreprise emergente ancree au Canada, ouverte a la co-creation (risque et rendement partages, co-fondation, infrastructures partagees) plutot qu'a un simple financement?"]},"coInvestors":[{"name":"Government of Canada (ISED)","slug":"government-of-canada-ised"},{"name":"Government of Quebec","slug":"government-of-quebec"},{"name":"City of Montreal","slug":"city-of-montreal"},{"name":"Investissement Quebec / DEC","slug":"investissement-quebec-dec"},{"name":"Pfizer","slug":"pfizer"},{"name":"AbbVie","slug":"abbvie"},{"name":"Novo Nordisk","slug":"novo-nordisk"},{"name":"GSK","slug":"gsk"},{"name":"Danaher / Cytiva","slug":"danaher-cytiva"}],"people":[{"fullName":"Matthew J. Carlyle","role":"President, CEO and Director","linkedinURL":"","initials":"MJ","avatarBgColor":"#534AB7"},{"fullName":"Frederic Lemaitre Auger","role":"Executive Vice President, Investments","linkedinURL":"","initials":"FL","avatarBgColor":"#1D9E75"},{"fullName":"Joseph Mancini","role":"Vice President, Research","linkedinURL":"","initials":"JM","avatarBgColor":"#A32D2D"},{"fullName":"Dave Rogers","role":"Vice President, Intellectual Property and Legal Affairs","linkedinURL":"","initials":"DR","avatarBgColor":"#712B13"},{"fullName":"Sarah Gallagher","role":"Vice President, People and Culture","linkedinURL":"","initials":"SG","avatarBgColor":"#0EA5E9"},{"fullName":"Gordon C. McCauley","role":"Vice-Chair","linkedinURL":"","initials":"GC","avatarBgColor":"#F59E0B"}],"portfolio":[{"name":"Abdera Therapeutics","sector":"Healthtech / Biotech","stage":"Built (radiopharmaceuticals)","year":null},{"name":"Epitopea","sector":"Healthtech / Biotech","stage":"Built (immuno-oncology)","year":null},{"name":"Thryv Therapeutics","sector":"Healthtech / Biotech","stage":"Built (FDA Fast Track 2026)","year":null},{"name":"Inversago Pharma","sector":"Healthtech / Biotech","stage":"Built (acquired by Novo Nordisk 2023)","year":null},{"name":"Bellus Health","sector":"Healthtech / Biotech","stage":"Built (acquired by GSK 2023)","year":null},{"name":"Eupraxia Pharmaceuticals","sector":"Healthtech / Biotech","stage":"Built (public)","year":null},{"name":"Zymeworks","sector":"Healthtech / Biotech","stage":"Built (public)","year":null},{"name":"Precision NanoSystems","sector":"Healthtech / Biotech","stage":"Built (acquired by Danaher/Cytiva)","year":null},{"name":"Flosonics Medical","sector":"Healthtech / Biotech","stage":"Built (medical devices)","year":null},{"name":"SoundBite Medical Solutions","sector":"Healthtech / Biotech","stage":"Built (medical devices)","year":null},{"name":"Kainova Therapeutics","sector":"Healthtech / Biotech","stage":"Built","year":2025},{"name":"Ocythera","sector":"Healthtech / Biotech","stage":"Built","year":2026},{"name":"Find Therapeutics","sector":"Healthtech / Biotech","stage":"Built","year":null},{"name":"Specific Biologics","sector":"Healthtech / Biotech","stage":"Built","year":null},{"name":"Sepset Biosciences","sector":"Healthtech / Biotech","stage":"Built","year":null},{"name":"Mesentech","sector":"Healthtech / Biotech","stage":"Built","year":null}],"verifiedSource":"","lastVerifiedAt":"2026-06-26","editorialLevel":""},{"id":"rec02","slug":"raiven-capital","name":"Raiven Capital","type":"VC","conviction":"tech-actif","stages":["Seed","Series A"],"sectors":["AI / ML","Climate / Energy","Fintech / Insurtech","Cybersecurity","Deeptech / Hardware"],"ticket":{"min":500000,"max":5000000,"currency":"CAD","label":"$500k to $3M CAD"},"leadFollow":"Both","province":["ON","OTHER"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2018,"fundSize":{"value":54,"currency":"CAD","vintage":2021},"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":"Cross-border early-stage VC backing AI and IoT founders building digital platforms that transform industrial value chains (finance, energy, cybersecurity, climate). Operates from Toronto, Silicon Valley and Dubai. Fund A (US$40M, closed 2021); a US$125M DIFC Dubai fund and a US$100M Climatech fund (anchored by Frog Lake First Nation) have been launched.","fr":"VC early-stage transfrontalier qui soutient des fondateurs en IA et IoT batissant des plateformes numeriques transformant les chaines de valeur industrielles (finance, energie, cybersecurite, climat). Opere depuis Toronto, la Silicon Valley et Dubai. Le Fonds A (40 M$ US, clos en 2021); un fonds de 125 M$ US au DIFC Dubai et un fonds Climatech de 100 M$ US (ancre par la Premiere Nation Frog Lake) ont ete lances."},"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":[],"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":"Strategic","year":2025},{"name":"Elevated Signals","sector":"SaaS / Vertical SaaS","stage":"Series A","year":2022},{"name":"Wayout","sector":"Climate / Energy","stage":"Seed","year":2022},{"name":"Trilio","sector":"Cybersecurity","stage":"Series B+","year":2022},{"name":"Shopistry","sector":"SaaS / Vertical SaaS","stage":"NC","year":null},{"name":"Whizmo","sector":"Fintech / Insurtech","stage":"Exit","year":2023},{"name":"KnowWake","sector":"Marketplace / Consumer","stage":"Seed","year":null},{"name":"Pratexo","sector":"Deeptech / Hardware","stage":"Seed","year":null},{"name":"Scopio","sector":"Marketplace / Consumer","stage":"Seed","year":2021},{"name":"Assurified","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2022}],"verifiedSource":"https://www.raivencapital.com/team","lastVerifiedAt":"2026-06-09","editorialLevel":"Long tail (light)"},{"id":"rec03","slug":"concrete-ventures","name":"Concrete Ventures","type":"VC","conviction":"generaliste","stages":["Pre-seed","Seed"],"sectors":["SaaS / Vertical SaaS","AI / ML","Fintech / Insurtech","Devtools / Infra","Cybersecurity","Deeptech / Hardware"],"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":"Selectif","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"},{"fullName":"Teri Anderson","role":"CFO","linkedinURL":"","initials":"TA","avatarBgColor":"#1D9E75"}],"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":2021},{"name":"3D BioFibR","sector":"Deeptech / Hardware","stage":"Seed","year":2025},{"name":"Carbide (ex-Securicy)","sector":"Cybersecurity","stage":"Seed","year":2019},{"name":"Proof","sector":"SaaS / Vertical SaaS","stage":"Exit (Daylight)","year":null}],"verifiedSource":"https://www.concrete.vc/about/","lastVerifiedAt":"2026-06-06","editorialLevel":"Top 30 (full)"},{"id":"rec04","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":null,"activity":"Tres actif","lastDealDate":"2026-05-27","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 largest and most active venture capital investor","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":"Export Development Canada","slug":"export-development-canada"},{"name":"InBC Investment Corporation","slug":"inbc-investment-corporation"}],"people":[{"fullName":"Genevieve Bouthillier","role":"EVP, BDC Capital","linkedinURL":"https://www.linkedin.com/in/genevievebouthillier/","initials":"GB","avatarBgColor":"#534AB7"},{"fullName":"Joseph Regan","role":"Senior Managing Partner, Venture Capital","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":"Lastwall","sector":"Cybersecurity","stage":"Series A","year":2026},{"name":"Photonic","sector":"Deeptech / Hardware","stage":"Series B+","year":2026},{"name":"Canada Rocket Company","sector":"Deeptech / Hardware","stage":"Seed","year":2026},{"name":"A&K Robotics","sector":"Deeptech / Hardware","stage":"Series A","year":2025},{"name":"Miovision","sector":"Deeptech / Hardware","stage":"Growth","year":2023},{"name":"Hopper","sector":"Marketplace / Consumer","stage":"Series B+","year":2021}],"verifiedSource":"https://www.bdc.ca/en/bdc-capital/venture-capital/funds","lastVerifiedAt":"2026-06-02","editorialLevel":"Top 30 (full)"},{"id":"rec05","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":150000,"max":500000,"currency":"CAD","label":"$500k to $2M CAD"},"leadFollow":"Lead","province":["QC","ON","AB"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2018,"fundSize":{"value":14,"currency":"CAD","vintage":2022},"activity":"Actif","lastDealDate":"2026-06-16","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":"Pre-seed and seed 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":"https://www.linkedin.com/in/nkhera/","initials":"NK","avatarBgColor":"#534AB7"},{"fullName":"Mario Venditti","role":"General Partner","linkedinURL":"","initials":"MV","avatarBgColor":"#1D9E75"},{"fullName":"Danny Grant","role":"General Partner","linkedinURL":"https://www.linkedin.com/in/drdannygrant/","initials":"DG","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"CarbiCrete","sector":"Climate / Energy","stage":"NC","year":null},{"name":"EcofilterTek","sector":"Climate / Energy","stage":"NC","year":null},{"name":"Oneka Technologies","sector":"Climate / Energy","stage":"NC","year":null},{"name":"Versos AI","sector":"AI / ML","stage":"NC","year":null},{"name":"H2OM","sector":"Deeptech / Hardware","stage":"NC","year":null},{"name":"Illuminex AI","sector":"AI / ML","stage":"NC","year":null},{"name":"Northernmost","sector":"Deeptech / Hardware","stage":"2026","year":null},{"name":"HapticHeart","sector":"Deeptech / Hardware","stage":"NC","year":null},{"name":"Autonomique","sector":"AI / ML","stage":"2026","year":null}],"verifiedSource":"https://www.innovobot.com/irv-fund/","lastVerifiedAt":"2026-06-29","editorialLevel":"Long tail (light)"},{"id":"rec06","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":["BC","OTHER"],"hq":{"city":"Vancouver","region":"BC"},"languages":["EN"],"founded":2021,"fundSize":null,"activity":"Selectif","lastDealDate":null,"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 building tech solutions at the intersection of climate and health. Co-led by managing partners Hilary Kilgour and Raissa Espiritu, with reach across Canada, the US and internationally.","fr":"Fonds vancouverois early-stage (anciennement theVenture.Fund) qui finance des fondatrices et fondateurs non-binaires batissant des solutions tech a l'intersection du climat et de la sante. Co-dirige par les managing partners Hilary Kilgour et Raissa Espiritu, avec un rayonnement au Canada, aux Etats-Unis et a l'international."},"tagline":{"en":"Tech at the climate-health intersection, led by women and non-binary founders.","fr":"Tech a l'intersection climat-sante, par des fondatrices et fondateurs non-binaires."},"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"},{"fullName":"Raissa Espiritu","role":"Co-Founder & Managing Partner","linkedinURL":"https://www.linkedin.com/in/raissa-espiritu/","initials":"RE","avatarBgColor":"#1D9E75"}],"portfolio":[],"verifiedSource":"https://audaxaventures.com/","lastVerifiedAt":"2026-06-19","editorialLevel":"Long tail (light)"},{"id":"rec07","slug":"quantacet","name":"Quantacet","type":"VC","conviction":"pure-play","stages":["Pre-seed","Seed"],"sectors":["Deeptech / Hardware"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Not disclosed"},"leadFollow":"Lead","province":["QC"],"hq":{"city":"Sherbrooke","region":"QC"},"languages":["EN","FR"],"founded":2023,"fundSize":{"value":20,"currency":"CAD","vintage":2023},"activity":"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":"Accelerating the quantum evolution","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":"Quantonation","slug":"quantonation"},{"name":"Investissement Quebec","slug":"investissement-quebec"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Real Ventures","slug":"real-ventures"},{"name":"Panache Ventures","slug":"panache-ventures"}],"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":2024},{"name":"SBQuantum","sector":"Deeptech / Hardware","stage":"Seed","year":2026},{"name":"Xatoms","sector":"Deeptech / Hardware","stage":"Pre-seed","year":2025},{"name":"Quminex","sector":"Deeptech / Hardware","stage":"Pre-seed","year":2025},{"name":"Quantum Elements","sector":"Deeptech / Hardware","stage":"Pre-seed","year":2026},{"name":"Femtum","sector":"Deeptech / Hardware","stage":"Seed","year":2024},{"name":"SilQ Connect","sector":"Deeptech / Hardware","stage":"Pre-seed","year":2025}],"verifiedSource":"https://www.quantacet.com/en/","lastVerifiedAt":"2026-06-02","editorialLevel":"Top 30 (full)"},{"id":"rec08","slug":"vanedge-capital","name":"Vanedge Capital","type":"VC","conviction":"tech-actif","stages":["Seed","Series A","Series B+"],"sectors":["AI / ML","Deeptech / Hardware","Climate / Energy","Cybersecurity","Healthtech / Biotech","SaaS / Vertical SaaS"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Not disclosed"},"leadFollow":"Both","province":["BC","ON","AB","OTHER"],"hq":{"city":"Vancouver","region":"BC"},"languages":["EN"],"founded":2010,"fundSize":null,"activity":"Actif","lastDealDate":"2026-01-15","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":"Empowering visionary technologists","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"}],"people":[{"fullName":"V. Paul Lee","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/paul-lee-64b68716/","initials":"VP","avatarBgColor":"#534AB7"},{"fullName":"Moe Kermani, PhD","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":"Jonathan Saari, PhD","role":"Partner","linkedinURL":"https://www.linkedin.com/in/jonathansaari/","initials":"JS","avatarBgColor":"#712B13"},{"fullName":"Darren Thomson","role":"Principal","linkedinURL":"https://www.linkedin.com/in/darren-thomson-5a0270a/","initials":"DT","avatarBgColor":"#0EA5E9"},{"fullName":"Michelle Ng","role":"Associate","linkedinURL":"","initials":"MN","avatarBgColor":"#F59E0B"}],"portfolio":[{"name":"North Vector Dynamics","sector":"Deeptech / Hardware","stage":"Seed","year":2026},{"name":"NeuroBionics","sector":"Healthtech / Biotech","stage":"Seed","year":2025},{"name":"Forterra","sector":"Deeptech / Hardware","stage":"Series B+","year":2024},{"name":"Axine Water Technologies","sector":"Climate / Energy","stage":"Growth","year":2024},{"name":"Chainalysis","sector":"Cybersecurity","stage":"Series B+","year":2025},{"name":"Echodyne","sector":"Deeptech / Hardware","stage":"Series B+","year":2023},{"name":"Plotly","sector":"Devtools / Infra","stage":"Series A","year":2021}],"verifiedSource":"https://www.vanedgecapital.com/","lastVerifiedAt":"2026-06-02","editorialLevel":"Top 30 (full)"},{"id":"rec09","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":3000000,"max":10000000,"currency":"CAD","label":"$2M-$8M"},"leadFollow":"Both","province":["ON","QC","BC","AB","OTHER"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":1993,"fundSize":{"value":140,"currency":"CAD","vintage":2021},"activity":"Actif","lastDealDate":"2025-11-12","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 1993 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 (first cheques of $3M to $10M) with a disciplined conviction posture, often leading or co-leading rounds, and invests across Canada and the Northeastern United States. Recent activity includes leading Frugal's seed round in November 2025. Whitecap pairs sector depth with patient capital and full-cycle support.","fr":"L'une des franchises de capital de risque les plus etablies au Canada, Whitecap, basee a Toronto, a ete fondee en 1993 et applique une these de whitespace investing: soutenir des entrepreneurs exceptionnels en logiciels B2B et MedTech. Le Fonds V a cloture a environ 140 M$ en 2021. L'equipe ecrit des premiers cheques de 3 a 10 M$, avec une posture disciplinee, souvent en lead ou co-lead, et investit partout au Canada et dans le nord-est des Etats-Unis. Activite recente: lead du tour d'amorcage de Frugal en novembre 2025."},"tagline":{"en":"B2B software and MedTech, since 1993.","fr":"Logiciels B2B et MedTech, depuis 1993."},"valueAdd":{"en":["30+ 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":"https://www.linkedin.com/in/carey-diamond-b702b4b1/","initials":"CD","avatarBgColor":"#534AB7"},{"fullName":"Blaine Hobson","role":"Chair of Investment Committee","linkedinURL":"https://www.linkedin.com/in/blaine-hobson-a2118a41/","initials":"BH","avatarBgColor":"#1D9E75"},{"fullName":"Shayn Diamond","role":"Partner","linkedinURL":"https://www.linkedin.com/in/shayn-diamond-8466891a/","initials":"SD","avatarBgColor":"#A32D2D"},{"fullName":"Russell Samuels","role":"Partner","linkedinURL":"https://www.linkedin.com/in/russellsamuels/","initials":"RS","avatarBgColor":"#712B13"},{"fullName":"Melissa Belbeck","role":"Principal","linkedinURL":"https://www.linkedin.com/in/melissa-belbeck-5829bb42/","initials":"MB","avatarBgColor":"#0EA5E9"},{"fullName":"Sarah Hartkorn","role":"Vice President","linkedinURL":"https://www.linkedin.com/in/sarah-hartkorn/","initials":"SH","avatarBgColor":"#F59E0B"},{"fullName":"Jacob Topatigh","role":"Vice President","linkedinURL":"https://www.linkedin.com/in/jacob-topatigh-591327115/","initials":"JT","avatarBgColor":"#EC4899"},{"fullName":"Kim Coote","role":"CFO","linkedinURL":"https://www.linkedin.com/in/kim-coote-21458047/","initials":"KC","avatarBgColor":"#14B8A6"}],"portfolio":[{"name":"Frugal","sector":"Devtools / Infra","stage":"Seed","year":2025},{"name":"Deep Sky","sector":"Climate / Energy","stage":"Series A","year":2023},{"name":"InvestNext","sector":"SaaS / Vertical SaaS","stage":"Series B","year":2025},{"name":"Altrio","sector":"SaaS / Vertical SaaS","stage":"Series A","year":2022},{"name":"Future Fertility","sector":"Healthtech / Biotech","stage":"Series A","year":2022},{"name":"Caribou","sector":"Healthtech / Biotech","stage":"NC","year":null},{"name":"Mash","sector":"SaaS / Vertical SaaS","stage":"NC","year":null},{"name":"Vetster","sector":"Marketplace / Consumer","stage":"Series A","year":2021},{"name":"Felix","sector":"Healthtech / Biotech","stage":"Series B+","year":2021},{"name":"PartnerStack","sector":"SaaS / Vertical SaaS","stage":"Exit 2026 (AppDirect)","year":null}],"verifiedSource":"https://whitecapvp.com/portfolio","lastVerifiedAt":"2026-06-09","editorialLevel":"Long tail (light)"},{"id":"rec10","slug":"simple-ventures","name":"Simple Ventures","type":"Other","conviction":"generaliste","stages":["Pre-seed","Seed"],"sectors":["Healthtech / Biotech","Fintech / Insurtech","SaaS / Vertical SaaS","Marketplace / Consumer"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Not disclosed"},"leadFollow":"Lead","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2024,"fundSize":{"value":15,"currency":"CAD","vintage":2025},"activity":"Actif","lastDealDate":null,"website":"https://www.simpleventures.ca/","linkedinURL":"https://www.linkedin.com/company/simple-venture-studio","logo":"/assets/vc-logos/simple-ventures.png?v=4","logoBgColor":"#A855F7","thesis":{"en":"Simple Ventures is a Toronto venture studio, which means it does not simply write cheques to existing startups: it co-founds and builds companies in-house, then funds and scales them. The studio scouts globally for proven products and services missing in Canada, validates each idea through development and testing, then pairs proven operators with the concept and takes an ownership stake alongside founders. Backed by a $15M CAD first fund and an LP network whose companies represent over $750B CAD in combined market cap, it gives portfolio companies an unfair advantage in talent, capital and distribution. For founders this means joining or leading a studio-built company with capital, advisors and infrastructure from day zero, rather than pitching an independent venture. Its stated goal is to build 25 Canadian-headquartered companies by 2030.","fr":"Simple Ventures est un venture studio torontois, ce qui signifie qu'il n'emet pas simplement des cheques a des startups existantes: il co-fonde et batit des entreprises en interne, puis les finance et les fait croitre. Le studio cherche a l'echelle mondiale des produits et services eprouves mais absents au Canada, valide chaque idee par le developpement et les tests, puis associe des operateurs eprouves au concept et prend une participation aux cotes des fondateurs. Soutenu par un premier fonds de 15 M$ CA et un reseau de LP dont les entreprises representent plus de 750 G$ CA de capitalisation combinee, il donne aux entreprises du portefeuille un avantage injuste en talent, capital et distribution. Pour les fondateurs, cela signifie rejoindre ou diriger une entreprise batie par le studio avec capital, conseillers et infrastructure des le jour zero, plutot que de presenter une entreprise independante. Son objectif affiche: batir 25 entreprises a siege canadien d'ici 2030."},"tagline":{"en":"Building great Canadian companies from scratch.","fr":"Batir d'excellentes entreprises canadiennes a partir de zero."},"valueAdd":{"en":["Studio model that co-founds and builds companies in-house rather than only investing","LP network of marquee Canadian operators (Shopify, Wealthsimple, Ada, Knix) and institutions (TD, Sun Life, Sobeys) representing $750B+ CAD in market cap","Profitability-obsessed, capital-efficient approach blending search funds, PE, VC and bootstrapping","Downside-risk mitigation so operators execute without fear of catastrophic loss","Explicit Canada-first mission to retain and repatriate founder talent"],"fr":["Modele studio qui co-fonde et batit les entreprises en interne plutot que de seulement investir","Reseau de LP d'operateurs canadiens de premier plan (Shopify, Wealthsimple, Ada, Knix) et d'institutions (TD, Sun Life, Sobeys) representant plus de 750 G$ CA de capitalisation","Approche obsedee par la rentabilite et efficiente en capital, melant search funds, PE, VC et bootstrapping","Attenuation du risque de baisse pour que les operateurs executent sans crainte de perte catastrophique","Mission explicite axee Canada pour retenir et rapatrier le talent fondateur"]},"followOnNarrative":{"en":"Simple Ventures provides capital, a validated idea and hands-on operator support from inception, building a strong bench of advisors around each company. It connects founders to LPs with deep, relevant experience and offers distribution, talent and infrastructure. The studio keeps real ownership in operators' hands while capping downside risk so teams can focus on execution.","fr":"Simple Ventures fournit capital, idee validee et soutien operationnel concret des l'origine, batissant un groupe de conseillers de premier plan autour de chaque entreprise. Il connecte les fondateurs a des LP a l'experience profonde et pertinente, et offre distribution, talent et infrastructure. Le studio garde une propriete reelle entre les mains des operateurs tout en plafonnant le risque de baisse pour que les equipes se concentrent sur l'execution."},"keyQuestions":{"en":["Is this a product or service already proven abroad but currently missing or underserved in Canada, and why has no one built it here yet?","Can one of our LPs or operator-advisors give this company an unfair advantage in distribution, talent or domain expertise?","Is the business capital-efficient with a credible path to profitability and a win-win exit within roughly five years?"],"fr":["S'agit-il d'un produit ou service deja eprouve a l'etranger mais actuellement absent ou mal desservi au Canada, et pourquoi personne ne l'a-t-il bati ici?","L'un de nos LP ou conseillers operateurs peut-il donner a cette entreprise un avantage injuste en distribution, talent ou expertise sectorielle?","L'entreprise est-elle efficiente en capital, avec un chemin credible vers la rentabilite et une sortie gagnant-gagnant en environ cinq ans?"]},"coInvestors":[{"name":"TD Innovation Partners","slug":"td-innovation-partners"},{"name":"Sun Life","slug":"sun-life"},{"name":"Sobeys","slug":"sobeys"},{"name":"Good Future (Arati Sharma & Satish Kanwar)","slug":"good-future-arati-sharma-satish-kanwar"},{"name":"Harley Finkelstein (Shopify)","slug":"harley-finkelstein-shopify"},{"name":"Michael Katchen (Wealthsimple)","slug":"michael-katchen-wealthsimple"},{"name":"Mike Murchison (Ada)","slug":"mike-murchison-ada"},{"name":"Joanna Griffiths (Knix)","slug":"joanna-griffiths-knix"}],"people":[{"fullName":"Rachel Zimmer","role":"Co-Founder & CEO","linkedinURL":"https://ca.linkedin.com/in/rachelbzimmer","initials":"RZ","avatarBgColor":"#534AB7"},{"fullName":"Michael Katchen","role":"Co-Founder & Chair","linkedinURL":"","initials":"MK","avatarBgColor":"#1D9E75"},{"fullName":"Danny Feuer","role":"Chief Investment Officer","linkedinURL":"","initials":"DF","avatarBgColor":"#A32D2D"},{"fullName":"Dan Pappo","role":"New Venture Lead","linkedinURL":"","initials":"DP","avatarBgColor":"#712B13"},{"fullName":"Bram Warshafsky","role":"Technology Partner & Advisor","linkedinURL":"","initials":"BW","avatarBgColor":"#0EA5E9"},{"fullName":"Nick Galasso","role":"Strategy Partner & Advisor","linkedinURL":"","initials":"NG","avatarBgColor":"#F59E0B"},{"fullName":"Sajee Sivasooriyan","role":"Finance Partner & Advisor","linkedinURL":"","initials":"SS","avatarBgColor":"#EC4899"}],"portfolio":[{"name":"Alma Care","sector":"Healthtech / Biotech","stage":"Seed","year":2023},{"name":"Zero Collective","sector":"Marketplace / Consumer","stage":"Seed","year":2024},{"name":"Harvest","sector":"Fintech / Insurtech","stage":"Seed","year":2025},{"name":"Kindly","sector":"Healthtech / Biotech","stage":"Seed","year":2025}],"verifiedSource":"https://www.simpleventures.ca/","lastVerifiedAt":"2026-06-01","editorialLevel":"Long tail (light)"},{"id":"rec11","slug":"evok-innovations","name":"Evok Innovations","type":"VC","conviction":"pure-play","stages":["Series A","Series B+"],"sectors":["Climate / Energy","Deeptech / Hardware"],"ticket":{"min":5000000,"max":20000000,"currency":"CAD","label":"Fund II, premier closing 300M USD (~408 CAD)"},"leadFollow":"Lead","province":["BC"],"hq":{"city":"Vancouver","region":"BC"},"languages":["EN"],"founded":2016,"fundSize":{"value":408,"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":"Hard-tech VC scaling breakthrough technologies for heavy industry","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":"Founding 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":"Koloma","sector":"Climate / Energy","stage":"Series B","year":2024},{"name":"Summit Nanotech","sector":"Deeptech / Hardware","stage":"Series A","year":2022},{"name":"Twelve","sector":"Climate / Energy","stage":"Series A","year":2021},{"name":"Ekona","sector":"Climate / Energy","stage":"Series A","year":2022},{"name":"e-Zinc","sector":"Climate / Energy","stage":"Series A","year":2022},{"name":"Syzygy Plasmonics","sector":"Climate / Energy","stage":"Series C","year":2022},{"name":"MineSense","sector":"Deeptech / Hardware","stage":"Series B+","year":2025}],"verifiedSource":"https://www.evokinnovations.com/about","lastVerifiedAt":"2026-06-02","editorialLevel":"Top 30 (full)"},{"id":"rec12","slug":"pelorus-venture-capital","name":"Pelorus Venture Capital","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed"],"sectors":["SaaS / Vertical SaaS","AI / ML","Healthtech / Biotech"],"ticket":{"min":500000,"max":1000000,"currency":"CAD","label":"$500k–$1M CAD"},"leadFollow":"Both","province":["NL"],"hq":{"city":"St. John's","region":"NL"},"languages":["EN"],"founded":2015,"fundSize":null,"activity":"Selectif","lastDealDate":"2025-04-11","website":"https://www.pelorusvc.com/","linkedinURL":"https://ca.linkedin.com/company/pelorus-venture-capital-ltd-","logo":"/assets/vc-logos/pelorus-venture-capital.png?v=4","logoBgColor":"#1F3A5F","thesis":{"en":"Pelorus Venture Capital is a St. John's firm that manages the Venture Newfoundland and Labrador funds (VNL I, II and III), the province's core early-stage vehicle since 2015. It makes Pre-seed and Seed investments in local technology founders, typically $500k to $1M initially, with reserves for follow-on. VNL I returned $1.50 for every $1 invested at a 24% net IRR; VNL III launched in 2026 with $20M secured ($15M from the province, $5M from Klister Credit Corp) toward a $50M target. Portfolio includes CoLab, Spellbook, Sequence Bio and Mantle.","fr":"Pelorus Venture Capital est une firme de St. John's qui gère les fonds Venture Newfoundland and Labrador (VNL I, II et III), le principal véhicule early-stage de la province depuis 2015. Elle investit en Pre-seed et Seed auprès de fondateurs technologiques locaux, généralement de 500k$ à 1M$ au départ, avec des réserves pour le suivi. VNL I a rendu 1,50$ pour chaque 1$ investi à un TRI net de 24%; VNL III a été lancé en 2026 avec 20M$ sécurisés (15M$ de la province, 5M$ de Klister Credit Corp) vers une cible de 50M$. Le portefeuille comprend CoLab, Spellbook, Sequence Bio et Mantle."},"tagline":{"en":"Newfoundland and Labrador's pre-seed venture manager","fr":"Le gestionnaire de capital pré-amorçage de Terre-Neuve-et-Labrador"},"valueAdd":{"en":["Newfoundland and Labrador's anchor early-stage capital","Strong fund track record (1.5x, 24% net IRR on VNL I)","Pre-seed entry with follow-on reserves","Local syndicate with BDC and Killick"],"fr":["Capital early-stage d'ancrage de Terre-Neuve-et-Labrador","Solide track record de fonds (1,5x, TRI net de 24% sur VNL I)","Entrée en pré-amorçage avec réserves de suivi","Syndicat local avec BDC et Killick"]},"followOnNarrative":{"en":"","fr":""},"keyQuestions":{"en":[],"fr":[]},"coInvestors":[{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Killick Capital","slug":"killick-capital"}],"people":[],"portfolio":[{"name":"CoLab","sector":"SaaS / Vertical SaaS","stage":"Series C","year":2025},{"name":"Spellbook","sector":"AI / ML","stage":"Series A","year":2025},{"name":"Mantle","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2025}],"verifiedSource":"https://www.pelorusvc.com/","lastVerifiedAt":"2026-06-29","editorialLevel":"Long tail (light)"},{"id":"rec13","slug":"cqdm","name":"CQDM","type":"Other","conviction":"pure-play","stages":[],"sectors":["Healthtech / Biotech"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Not disclosed"},"leadFollow":"Both","province":["QC","OTHER"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2008,"fundSize":null,"activity":"Actif","lastDealDate":"2026-06-22","website":"","linkedinURL":"","logo":"/assets/vc-logos/cqdm.png?v=4","logoBgColor":"#A855F7","thesis":{"en":"CQDM (Quebec Consortium for Drug Discovery) is a non-profit biopharmaceutical research consortium based in Montreal, not a venture capital fund: it provides non-dilutive grant funding and takes no equity. It pools money from global pharmaceutical members (Alexion, Amgen, Daiichi Sankyo, GSK, Merck, Ono Pharma, Otsuka, Pfizer, Roche, Sanofi, Servier, Takeda) and from the Quebec and Canadian governments to co-fund collaborative, early-stage R&D that accelerates the translation of discoveries into therapeutics, vaccines and diagnostics. Funding is awarded through competitive programs (SynergiQC, Quantum Leap, Partenar-IA and AReNA) that require partnerships between Canadian businesses, SMEs and public research centres, with grants typically covering one third to one half of eligible project costs (from roughly 400k to 1.5 million CAD per project depending on the program). Founders, SMEs and academic researchers engage by applying to these recurring calls for proposals rather than by pitching for an equity investment. Beyond capital, CQDM supports applicants with project structuring and access to its pharma and government network. For a startup, this is non-dilutive money plus strategic validation, not a financing round.","fr":"CQDM (Consortium quebecois sur la decouverte du medicament) est un consortium de recherche biopharmaceutique sans but lucratif base a Montreal, pas un fonds de capital de risque: il offre du financement non dilutif sous forme de subventions et ne prend aucune participation. Il met en commun les fonds de membres pharmaceutiques mondiaux (Alexion, Amgen, Daiichi Sankyo, GSK, Merck, Ono Pharma, Otsuka, Pfizer, Roche, Sanofi, Servier, Takeda) et des gouvernements du Quebec et du Canada pour cofinancer de la R&D collaborative a un stade precoce qui accelere la traduction des decouvertes en therapies, vaccins et diagnostics. Le financement est attribue par des programmes competitifs (SynergiQC, Quantum Leap, Partenar-IA et AReNA) qui exigent des partenariats entre entreprises canadiennes, PME et centres de recherche publics, les subventions couvrant typiquement le tiers a la moitie des couts admissibles (d'environ 400k a 1,5 million CAD par projet selon le programme). Les fondateurs, PME et chercheurs academiques s'engagent en repondant a ces appels de propositions recurrents plutot qu'en sollicitant un investissement en capital. Au-dela du capital, CQDM accompagne les candidats dans la structuration des projets et l'acces a son reseau pharma et gouvernemental. Pour une startup, c'est de l'argent non dilutif et une validation strategique, pas un tour de financement."},"tagline":{"en":"Non-dilutive grants for collaborative drug discovery.","fr":"Du financement non dilutif pour la decouverte collaborative de medicaments."},"valueAdd":{"en":["Non-dilutive grant funding with zero equity taken, unlike a VC","Backed by a public-private consortium of nine global pharma companies plus Quebec and Canadian governments that share the cost and de-risk early-stage R&D","Recurring open calls across multiple programs rather than one-off rounds","Hands-on support beyond money, including project structuring and access to pharma and government networks","Market-pull model where funded technologies are aligned with real priority needs of large pharma members, adding strategic validation"],"fr":["Financement par subvention non dilutif, sans aucune prise de participation, contrairement a un fonds de capital de risque","Soutenu par un consortium public-prive de neuf grandes pharmas et des gouvernements du Quebec et du Canada qui partagent le cout et derisquent la R&D precoce","Appels ouverts recurrents sur plusieurs programmes plutot qu'un tour ponctuel","Accompagnement concret au-dela de l'argent, incluant la structuration de projet et l'acces aux reseaux pharma et gouvernementaux","Modele d'attraction par le marche ou les technologies financees sont alignees sur les vrais besoins prioritaires des grands membres pharma, ajoutant une validation strategique"]},"followOnNarrative":{"en":"CQDM goes beyond writing cheques: its scientific-affairs and business-development teams help companies and researchers plan and execute their innovation projects, structure collaborations and navigate program requirements. It also helps businesses access complementary Quebec investment programs such as Investissement Quebec's Innovation and Impulsion funds. Engagement is through competitive calls for proposals, so applicants should approach CQDM as a grant partner and ecosystem connector, not as an equity investor.","fr":"CQDM va au-dela de l'emission de cheques: ses equipes d'affaires scientifiques et de developpement des affaires aident les entreprises et les chercheurs a planifier et executer leurs projets d'innovation, a structurer les collaborations et a naviguer les exigences des programmes. Il aide aussi les entreprises a acceder a des programmes d'investissement quebecois complementaires comme les fonds Innovation et Impulsion d'Investissement Quebec. L'engagement se fait par appels de propositions competitifs: les candidats doivent donc aborder CQDM comme un partenaire de subvention et un connecteur d'ecosysteme, pas comme un investisseur en capital."},"keyQuestions":{"en":["Does your R&D project map to a clear unmet medical need and to the priority interests of CQDM's pharma members, and which program (SynergiQC, Quantum Leap, Partenar-IA, AReNA) fits it?","Do you have the required collaboration in place (a Quebec or Canadian public research centre and/or an eligible business partner) to satisfy the program's partnership criteria?","Can you fund the matching share of eligible expenses, since CQDM grants cover only part of the budget and require co-investment from partners?"],"fr":["Votre projet de R&D repond-il a un besoin medical non comble clair et aux interets prioritaires des membres pharma de CQDM, et quel programme (SynergiQC, Quantum Leap, Partenar-IA, AReNA) lui convient?","Disposez-vous de la collaboration requise (un centre de recherche public quebecois ou canadien et/ou un partenaire d'affaires admissible) pour satisfaire les criteres de partenariat du programme?","Pouvez-vous financer la part de contrepartie des depenses admissibles, puisque les subventions de CQDM ne couvrent qu'une partie du budget et exigent un co-investissement des partenaires?"]},"coInvestors":[{"name":"Alexion","slug":"alexion"},{"name":"Amgen","slug":"amgen"},{"name":"Daiichi Sankyo","slug":"daiichi-sankyo"},{"name":"GSK","slug":"gsk"},{"name":"Merck","slug":"merck"},{"name":"Ono Pharma","slug":"ono-pharma"},{"name":"Otsuka","slug":"otsuka"},{"name":"Pfizer","slug":"pfizer"},{"name":"Roche","slug":"roche"},{"name":"Sanofi","slug":"sanofi"},{"name":"Servier","slug":"servier"},{"name":"Takeda","slug":"takeda"},{"name":"Government of Québec","slug":"government-of-quebec"},{"name":"Government of Canada","slug":"government-of-canada"},{"name":"Brain Canada","slug":"brain-canada"}],"people":[{"fullName":"Véronique Dugas","role":"President and CEO","linkedinURL":"","initials":"VD","avatarBgColor":"#534AB7"},{"fullName":"Fanny Guimont-Desrochers","role":"Senior Director, Scientific Affairs","linkedinURL":"","initials":"FG","avatarBgColor":"#1D9E75"},{"fullName":"Jesse Paterson","role":"Senior Director, Strategy and Pharmaceutical Alliances","linkedinURL":"","initials":"JP","avatarBgColor":"#A32D2D"},{"fullName":"Xavier Linker","role":"Director, Strategic Initiatives","linkedinURL":"","initials":"XL","avatarBgColor":"#712B13"},{"fullName":"Alysia Melnychuk","role":"Senior Director, Accounting and Finance","linkedinURL":"","initials":"AM","avatarBgColor":"#0EA5E9"}],"portfolio":[],"verifiedSource":"https://cqdm.org/en/members-and-partners/our-members/","lastVerifiedAt":"2026-06-29","editorialLevel":""},{"id":"rec14","slug":"naventures","name":"NAventures","type":"CVC","conviction":"tech-actif","stages":["Seed","Series A","Series B+"],"sectors":["Fintech / Insurtech","Cybersecurity","SaaS / Vertical SaaS","AI / ML"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Not disclosed"},"leadFollow":"Both","province":["QC","ON","OTHER"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2017,"fundSize":null,"activity":"Actif","lastDealDate":"2026-03-24","website":"https://www.nbc.ca/en/naventures.html","linkedinURL":"https://ca.linkedin.com/company/banquenationaleducanada","logo":"/assets/vc-logos/naventures.png?v=4","logoBgColor":"#534AB7","thesis":{"en":"NAventures is the corporate venture capital arm of National Bank of Canada, one of the country's largest financial institutions. Unlike a passive fund-of-funds, it makes direct, strategic equity investments and founders can engage it directly, including for term sheets where it acts as lead or co-lead within a syndicate of Tier 1 investors. Its mandate is to back early to mid-stage technology companies, from Seed to Series C, that will shape the future of financial services, with a clear strategic angle: every investment is meant to create partnership opportunities with the bank and its stakeholders. It focuses on fintech, insurtech, cybersecurity, enterprise software, regtech and proptech, and brings National Bank's distribution, technical and operational expertise on top of capital. Founders win most when their product can plug into a major bank's roadmap, so the strongest path in is a warm, specific pitch on how the bank becomes a customer, partner or channel.","fr":"NAventures est le bras de capital de risque corporatif de la Banque Nationale du Canada, l'une des plus grandes institutions financieres du pays. Contrairement a un fonds de fonds passif, il realise des investissements directs et strategiques en equity, et les fondateurs peuvent l'engager directement, y compris pour des feuilles de termes ou il agit comme investisseur principal ou co-principal au sein d'un syndicat d'investisseurs de premier rang. Son mandat est de soutenir des entreprises technologiques de stade early a mid (de l'amorcage a la Serie C) qui faconneront l'avenir des services financiers, avec un angle strategique clair: chaque investissement vise a creer des occasions de partenariat avec la banque et ses parties prenantes. Il se concentre sur la fintech, l'assurtech, la cybersecurite, le logiciel d'entreprise, la regtech et la proptech, et apporte la distribution, l'expertise technique et operationnelle de la Banque Nationale en plus du capital. Les fondateurs gagnent le plus quand leur produit peut s'integrer a la feuille de route d'une grande banque, donc la meilleure voie d'entree est un pitch chaud et precis sur la facon dont la banque devient client, partenaire ou canal."},"tagline":{"en":"National Bank's corporate venture arm for fintech.","fr":"Le bras de capital de risque corporatif de la Banque Nationale, axe fintech."},"valueAdd":{"en":["Corporate VC of a top-tier Canadian bank, so founders engage directly rather than through an intermediary","Strategic capital tied to real partnership and distribution opportunities with National Bank","Will act as lead or co-lead alongside Tier 1 investors, not just a passive follower","Global reach across Canada, the US and Israel with offices in Montreal and Tel Aviv","Deep in-house banking, AI and blockchain expertise helping portfolio companies sell into and integrate with financial institutions"],"fr":["Capital de risque corporatif d'une banque canadienne de premier rang, donc les fondateurs l'engagent directement plutot que via un intermediaire","Capital strategique lie a de reelles occasions de partenariat et de distribution avec la Banque Nationale","Agit comme principal ou co-principal aux cotes d'investisseurs de premier rang, pas seulement un suiveur passif","Portee mondiale (Canada, Etats-Unis, Israel) avec bureaux a Montreal et Tel-Aviv","Expertise interne profonde en banque, IA et chaine de blocs aidant les societes du portefeuille a vendre aux institutions financieres et a s'y integrer"]},"followOnNarrative":{"en":"NAventures positions itself as a hands-on strategic partner, not just a source of capital, staying involved at every step of the company's lifecycle. It leverages National Bank's network, banking know-how and AI and blockchain specialists to help founders unlock distribution, integration and growth. Its portfolio team has helped companies raise hundreds of millions in follow-on capital and turns the bank itself into a potential customer or partner.","fr":"NAventures se positionne comme un partenaire strategique tres implique, pas seulement une source de capital, en restant present a chaque etape du cycle de vie de l'entreprise. Il met a profit le reseau, le savoir-faire bancaire et les specialistes en IA et chaine de blocs de la Banque Nationale pour aider les fondateurs a debloquer distribution, integration et croissance. Son equipe de portefeuille a aide des entreprises a lever des centaines de millions en capital de suivi et fait de la banque elle-meme un client ou partenaire potentiel."},"keyQuestions":{"en":["How does your product solve a concrete pain point for a major bank, and could National Bank realistically become a customer, partner or distribution channel?","Where are you on the Seed-to-Series-C path, who is leading or co-leading the round, and what role do you want NAventures to play (lead vs. strategic participant)?","What is the strategic and commercial upside of partnering with National Bank beyond the cheque, and how would integration with its ecosystem accelerate your growth?"],"fr":["Comment votre produit resout-il un point de douleur concret pour une grande banque, et la Banque Nationale pourrait-elle realistement devenir client, partenaire ou canal de distribution?","Ou en etes-vous sur le parcours amorcage-a-Serie-C, qui mene ou co-mene le tour, et quel role voulez-vous pour NAventures (principal ou participant strategique)?","Quel est l'avantage strategique et commercial d'un partenariat avec la Banque Nationale au-dela du cheque, et comment l'integration a son ecosysteme accelererait-elle votre croissance?"]},"coInvestors":[{"name":"Andreessen Horowitz (a16z)","slug":"andreessen-horowitz-a16z"},{"name":"Google Ventures (GV)","slug":"google-ventures-gv"},{"name":"Nyca Partners","slug":"nyca-partners"},{"name":"Activant Capital","slug":"activant-capital"},{"name":"The Banc Funds","slug":"the-banc-funds"},{"name":"LG Technology Ventures","slug":"lg-technology-ventures"},{"name":"Venture Guides","slug":"venture-guides"}],"people":[{"fullName":"Philippe Daoust","role":"Managing Director & Vice-President","linkedinURL":"https://ca.linkedin.com/in/philippe-daoust-48a74a2","initials":"PD","avatarBgColor":"#534AB7"},{"fullName":"James Povitz","role":"Principal","linkedinURL":"https://ca.linkedin.com/in/jamespovitz","initials":"JP","avatarBgColor":"#1D9E75"},{"fullName":"Joshuah Lebacq","role":"Principal","linkedinURL":"https://ca.linkedin.com/in/joshuahlebacq","initials":"JL","avatarBgColor":"#A32D2D"},{"fullName":"Jonathan Dellar-Fernandes","role":"Associate","linkedinURL":"","initials":"JD","avatarBgColor":"#712B13"},{"fullName":"Laurence Boudrias","role":"Associate","linkedinURL":"","initials":"LB","avatarBgColor":"#0EA5E9"},{"fullName":"Julien Marolleau","role":"Senior Analyst","linkedinURL":"","initials":"JM","avatarBgColor":"#F59E0B"}],"portfolio":[{"name":"Memcyco","sector":"Cybersecurity","stage":"Series A","year":2026},{"name":"Nova Credit","sector":"Fintech / Insurtech","stage":"Series D","year":2025},{"name":"Sardine","sector":"Fintech / Insurtech","stage":"Series C","year":2025},{"name":"Synctera","sector":"Fintech / Insurtech","stage":"Series A","year":2023},{"name":"KOHO","sector":"Fintech / Insurtech","stage":"Growth","year":2023},{"name":"nesto","sector":"Fintech / Insurtech","stage":"Series C","year":2022},{"name":"Maxa","sector":"AI / ML","stage":"Series A","year":2024},{"name":"ClearEstate","sector":"Fintech / Insurtech","stage":"Seed","year":2021},{"name":"Dialogue","sector":"Healthtech / Biotech","stage":"Exit (IPO 2021)","year":null},{"name":"Element AI","sector":"AI / ML","stage":"Exit","year":2020}],"verifiedSource":"https://www.nbc.ca/en/naventures.html","lastVerifiedAt":"2026-06-29","editorialLevel":""},{"id":"rec15","slug":"koru","name":"Koru","type":"Other","conviction":"generaliste","stages":["Pre-seed","Seed"],"sectors":["Generalist (no thesis)"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Not disclosed"},"leadFollow":"Lead","province":["ON","OTHER"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2019,"fundSize":null,"activity":"Actif","lastDealDate":"2025-03-01","website":"https://www.hellokoru.com/","linkedinURL":"https://www.linkedin.com/company/koru-hq/","logo":"/assets/vc-logos/koru.png?v=4","logoBgColor":"#A32D2D","thesis":{"en":"Koru is a venture studio (a captive corporate venture builder), not a traditional fund: it co-founds and builds companies in-house from 0 to 1 rather than writing cheques into externally founded startups. Backed by Ontario Teachers' Pension Plan and launched in 2019 with BCG Digital Ventures, it partners with OTPP portfolio companies to identify, validate, build and oversee new ventures that leverage unfair advantages (assets, data and distribution from the portfolio). For founders, this means the path in is usually joining as a Koru-recruited founding CEO of a venture Koru is building, not pitching Koru for seed capital. Koru provides hands-on team, capital, shared services and board-level support, then introduces graduating ventures to external VCs for their next growth round. It is sector-agnostic, building across insurtech, fintech, climate, healthtech and consumer, with ventures launched in Canada, the UK and Brazil.","fr":"Koru est un venture studio (un batisseur d'entreprises captif), pas un fonds traditionnel: il co-fonde et batit des entreprises en interne, de 0 a 1, plutot que d'investir dans des startups deja fondees. Soutenu par le Regime de retraite des enseignantes et enseignants de l'Ontario (OTPP) et lance en 2019 avec BCG Digital Ventures, il s'associe aux societes du portefeuille d'OTPP pour identifier, valider, batir et superviser de nouvelles entreprises qui exploitent des avantages injustes (actifs, donnees et distribution du portefeuille). Pour les fondateurs, la voie d'entree est generalement de rejoindre comme PDG fondateur recrute par Koru une entreprise que Koru batit, pas de presenter un projet pour obtenir du capital d'amorcage. Koru fournit equipe, capital, services partages et soutien au niveau du conseil, puis presente les entreprises diplomees a des VC externes pour leur prochain tour. Il est agnostique au secteur, batissant en assurtech, fintech, climat, sante et consommation, au Canada, au Royaume-Uni et au Bresil."},"tagline":{"en":"Building bold ventures inside Ontario Teachers' portfolio.","fr":"Batir des entreprises audacieuses dans le portefeuille d'Ontario Teachers'."},"valueAdd":{"en":["Captive studio backed by one of Canada's largest pension investors (Ontario Teachers'), giving deep capital patience and portfolio access","Builds and co-founds companies in-house rather than just investing, with a full bench of product, engineering, design, research and GTM builders","Right-to-win model that only launches ventures with an unfair advantage from OTPP portfolio assets","Proven repeatable playbook with 12-plus ventures launched since 2019","International build reach (Canada, UK, Brazil) plus an investor network connecting graduating ventures to external VCs"],"fr":["Studio captif soutenu par l'un des plus grands investisseurs de retraite du Canada (Ontario Teachers'), offrant patience de capital et acces au portefeuille","Batit et co-fonde les entreprises en interne plutot que de seulement investir, avec une equipe complete en produit, ingenierie, design, recherche et mise en marche","Modele de droit de gagner qui ne lance que des entreprises avec un avantage injuste tire des actifs du portefeuille d'OTPP","Playbook reproductible eprouve avec plus de 12 entreprises lancees depuis 2019","Portee internationale (Canada, Royaume-Uni, Bresil) et reseau d'investisseurs reliant les entreprises diplomees a des VC externes"]},"followOnNarrative":{"en":"Koru embeds a multidisciplinary team of builders alongside each venture, taking ideas from deep research and validation through MVP, full market launch and scale. Beyond capital, it provides shared services, governance, board-level involvement, mentorship and access to a global investor network to help ventures raise their next round. For an OTPP portfolio partner or a Koru-recruited founder, the support is operational and ownership-minded, not arm's-length cheque-writing.","fr":"Koru integre une equipe pluridisciplinaire de batisseurs aux cotes de chaque entreprise, de la recherche et la validation jusqu'au MVP, au lancement et a la mise a l'echelle. Au-dela du capital, il fournit services partages, gouvernance, implication au conseil, mentorat et acces a un reseau mondial d'investisseurs pour aider les entreprises a lever leur prochain tour. Pour un partenaire du portefeuille d'OTPP ou un fondateur recrute par Koru, le soutien est operationnel et oriente propriete, pas du financement a distance."},"keyQuestions":{"en":["Is this opportunity anchored to a clear unfair advantage from an Ontario Teachers' portfolio company (proprietary data, distribution, or customer base) that an independent startup could not replicate?","Can the idea be validated to MVP and early traction within the studio's rapid 0-to-1 build cycle, and who is the founding CEO we would back to run it?","Is there a credible path to an external seed or Series A round and standalone scale, so the venture can graduate beyond the studio?"],"fr":["Cette opportunite est-elle ancree dans un avantage injuste clair d'une societe du portefeuille d'Ontario Teachers' (donnees proprietaires, distribution, base clients) qu'une startup independante ne pourrait repliquer?","L'idee peut-elle etre validee jusqu'au MVP et a une premiere traction dans le cycle rapide de 0 a 1 du studio, et qui serait le PDG fondateur que nous appuierions?","Existe-t-il un chemin credible vers un tour d'amorcage ou de Serie A externe et une mise a l'echelle autonome, afin que l'entreprise puisse depasser le studio?"]},"coInvestors":[{"name":"Ontario Teachers' Pension Plan (OTPP)","slug":"ontario-teachers-pension-plan-otpp"},{"name":"Teachers' Venture Growth","slug":"teachers-venture-growth"},{"name":"BCG Digital Ventures","slug":"bcg-digital-ventures"},{"name":"Fairstone","slug":"fairstone"},{"name":"HomeEquity Bank","slug":"homeequity-bank"},{"name":"Snowflake","slug":"snowflake"}],"people":[{"fullName":"Bryan Marcovici","role":"Co-Founder, CEO & Managing Partner","linkedinURL":"https://www.linkedin.com/in/marcovici/","initials":"BM","avatarBgColor":"#534AB7"},{"fullName":"Matt Barrington","role":"Partner","linkedinURL":"https://www.linkedin.com/in/mattfbarrington/","initials":"MB","avatarBgColor":"#1D9E75"},{"fullName":"Jason Dea","role":"Product","linkedinURL":"https://www.linkedin.com/in/jasondea","initials":"JD","avatarBgColor":"#A32D2D"},{"fullName":"Liana Fisher","role":"Product","linkedinURL":"https://www.linkedin.com/in/lianaf/","initials":"LF","avatarBgColor":"#712B13"},{"fullName":"Care Fader","role":"Venture GM","linkedinURL":"https://www.linkedin.com/in/carefader/","initials":"CF","avatarBgColor":"#0EA5E9"},{"fullName":"Maryam Nabavi","role":"Venture GM","linkedinURL":"https://www.linkedin.com/in/maryam-nabavi/","initials":"MN","avatarBgColor":"#F59E0B"},{"fullName":"Cady Lewis","role":"Go-to-Market","linkedinURL":"https://www.linkedin.com/in/cady-lewis-039a3764/","initials":"CL","avatarBgColor":"#EC4899"},{"fullName":"Rosanne Lai","role":"Finance","linkedinURL":"https://www.linkedin.com/in/rosanne-lai-2426602b/","initials":"RL","avatarBgColor":"#14B8A6"}],"portfolio":[{"name":"FYLD","sector":"AI / ML","stage":"Seed","year":2020},{"name":"Fig Financial","sector":"Fintech / Insurtech","stage":"Seed","year":2023},{"name":"ReturnBear","sector":"Marketplace / Consumer","stage":"Seed","year":2021},{"name":"Resilion","sector":"Climate / Energy","stage":"Seed","year":null},{"name":"Vayda","sector":"Marketplace / Consumer","stage":"Seed","year":null},{"name":"Home Concierge","sector":"Marketplace / Consumer","stage":"Seed","year":null},{"name":"ONYX Transition","sector":"Climate / Energy","stage":"Seed","year":null},{"name":"DataBraid","sector":"Fintech / Insurtech","stage":"Seed","year":2025},{"name":"Moneta","sector":"Healthtech / Biotech","stage":"Seed","year":null},{"name":"Pebble","sector":"Marketplace / Consumer","stage":"Seed","year":null},{"name":"HomeBridge","sector":"Fintech / Insurtech","stage":"Seed","year":null},{"name":"Laivly","sector":"AI / ML","stage":"Seed","year":null}],"verifiedSource":"https://www.hellokoru.com/","lastVerifiedAt":"2026-06-01","editorialLevel":"Long tail (light)"},{"id":"rec16","slug":"diagram-ventures","name":"Diagram Ventures","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed","Series A"],"sectors":["Fintech / Insurtech","Climate / Energy"],"ticket":{"min":500000,"max":5000000,"currency":"CAD","label":"$500K to $5M CAD"},"leadFollow":"Lead","province":["QC","ON","OTHER"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2016,"fundSize":{"value":80,"currency":"CAD","vintage":2024},"activity":"Actif","lastDealDate":"2025-02-15","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 early-stage VC affiliated with Sagard. Diagram builds and invests in fintech and climatetech companies across Canada and the US, from pre-seed to Series A, typically as lead with cheques of $500K to $5M CAD. Its distinctive model is co-building companies from zero alongside founders, in the tradition of a true venture studio rather than a passive investor. Its most recent vehicle is an $80M CAD ClimateTech Fund closed in 2024. Notable studio companies include Dialogue (acquired by Sun Life) and Collage (acquired by People Corporation).","fr":"Studio de venture et fonds de capital de risque early-stage montréalais affilié à Sagard. Diagram bâtit et investit dans des sociétés de fintech et de climatetech au Canada et aux États-Unis, du pré-amorçage à la Série A, le plus souvent en lead, avec des tickets de 500 K à 5 M$ CAD. Sa particularité est de cobâtir des sociétés depuis zéro avec leurs fondateurs, à la manière d'un vrai studio plutôt que d'un investisseur passif. Son véhicule le plus récent est un ClimateTech Fund de 80 M$ CAD clôturé en 2024. Parmi ses sociétés notables: Dialogue (rachetée par Sun Life) et Collage (rachetée par People Corporation)."},"tagline":{"en":"We build and invest in fintech and climatetech companies","fr":"Nous bâtissons et investissons dans la fintech et la climatetech"},"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 maintains follow-on capacity across its core fund and a dedicated $80M CAD ClimateTech Fund, supporting both standard and climate-specific rounds.","fr":"Diagram conserve une capacité de suivi via son fonds principal et un ClimateTech Fund dédié de 80 M$ CAD, pour accompagner aussi bien les rondes classiques que les rondes climat."},"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":"Real Ventures","slug":"real-ventures"},{"name":"Portage Ventures","slug":"portage-ventures"},{"name":"BDC Capital","slug":"bdc-capital"}],"people":[{"fullName":"François 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":"Steve Schultz","role":"General Partner","linkedinURL":"https://www.linkedin.com/in/stephenschultz","initials":"SS","avatarBgColor":"#A32D2D"},{"fullName":"Frédéric Latreille","role":"General Partner","linkedinURL":"https://www.linkedin.com/in/fredericlatreille","initials":"FL","avatarBgColor":"#712B13"},{"fullName":"Gaurav Kapoor","role":"General Partner","linkedinURL":"https://www.linkedin.com/in/gaurav-kapoor-fintech-builder-vc","initials":"GK","avatarBgColor":"#0EA5E9"},{"fullName":"Amélie Foz-Couture","role":"General Partner","linkedinURL":"https://ca.linkedin.com/in/ameliefc","initials":"AF","avatarBgColor":"#F59E0B"},{"fullName":"Paul Manias","role":"General Partner","linkedinURL":"https://www.linkedin.com/in/maniaspaul","initials":"PM","avatarBgColor":"#EC4899"},{"fullName":"Marc-Alain Guilbert","role":"Partner, Venture Creation","linkedinURL":"https://www.linkedin.com/in/maguilbert","initials":"MG","avatarBgColor":"#14B8A6"}],"portfolio":[{"name":"Dialogue","sector":"Healthtech / Biotech","stage":"Exit 2023 (Sun Life)","year":null},{"name":"nesto","sector":"Fintech / Insurtech","stage":"Series C","year":2022},{"name":"Novisto","sector":"Climate / Energy","stage":"Series C","year":2025},{"name":"ClearEstate","sector":"Fintech / Insurtech","stage":"Series A","year":2022},{"name":"Coral","sector":"Healthtech / Biotech","stage":"Seed","year":2025},{"name":"Collage","sector":"SaaS / Vertical SaaS","stage":"Exit 2019 (People Corporation)","year":null}],"verifiedSource":"https://diagram.vc/about-us/","lastVerifiedAt":"2026-06-02","editorialLevel":"Top 30 (full)"},{"id":"rec17","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":"Actif","lastDealDate":"2026-05-18","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 $100M CAD in 2022, deployed by its partner team covering the country end to end. The firm is a privileged entry point for first institutional rounds in Canada, with a rapid deployment cadence and high co-investment rate alongside US seed leads.","fr":"Le fonds canadien le plus actif en pré amorçage, présent à Montréal, Calgary et Toronto. Investit en lead avec des tickets de 500 K à 1,5 M$ CAD chez des fondateurs ambitieux, généralistes par secteur mais avec un biais marqué pour l'IA. Fonds II clôturé à 100 M$ CAD en 2022, équipe de 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 pre-seed and seed fund","fr":"Fonds canadien de pré-amorçage et d'amorçage"},"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":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/patricklor/","initials":"PL","avatarBgColor":"#534AB7"},{"fullName":"Mike Cegelski","role":"Founder & Chairman","linkedinURL":"https://ca.linkedin.com/in/mike-cegelski","initials":"MC","avatarBgColor":"#1D9E75"},{"fullName":"Prashant Matta","role":"Partner","linkedinURL":"https://www.linkedin.com/in/prashantmatta/","initials":"PM","avatarBgColor":"#A32D2D"},{"fullName":"Genevieve Tanguay","role":"Partner","linkedinURL":"","initials":"GT","avatarBgColor":"#712B13"},{"fullName":"Sarah Willson","role":"Principal","linkedinURL":"","initials":"SW","avatarBgColor":"#0EA5E9"},{"fullName":"Domenic Del Vecchio","role":"Principal","linkedinURL":"","initials":"DD","avatarBgColor":"#F59E0B"}],"portfolio":[{"name":"Deep Sky","sector":"Climate / Energy","stage":"","year":null},{"name":"Nord Quantique","sector":"Deeptech / Hardware","stage":"","year":null},{"name":"FISPAN","sector":"Fintech / Insurtech","stage":"","year":null},{"name":"PurposeMed","sector":"Healthtech / Biotech","stage":"","year":null},{"name":"Relay","sector":"Fintech / Insurtech","stage":"","year":null},{"name":"Tailscale","sector":"Devtools / Infra","stage":"","year":null}],"verifiedSource":"https://www.panache.vc/","lastVerifiedAt":"2026-06-02","editorialLevel":"Top 30 (full)"},{"id":"rec18","slug":"mcrock-capital","name":"McRock Capital","type":"VC","conviction":"pure-play","stages":["Series A","Series B+"],"sectors":["AI / ML","SaaS / Vertical SaaS"],"ticket":{"min":3000000,"max":15000000,"currency":"CAD","label":"$3M to $15M CAD"},"leadFollow":"Lead","province":["AB","ON","QC"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2012,"fundSize":{"value":120,"currency":"CAD","vintage":2025},"activity":"Selectif","lastDealDate":"2025-06-01","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":"McRock Capital is the first investment firm focused exclusively on the Digital Industrial, founded in 2012 by Scott MacDonald and Whitney Rockley. With Fund III, McRock invests exclusively in industrial software and industrial AI at Series A and Series B. Fund III held a final close in December 2025 at over $120M CAD (about $88M USD), the firm's largest fund to date, bringing total AUM to approximately $300M CAD. McRock deploys roughly 60 percent of the fund in Canada, with the balance in the United States plus select investments in Europe and Israel. Offices in Toronto and Calgary.","fr":"McRock Capital est la premiere societe d'investissement dediee exclusivement au Digital Industrial, fondee en 2012 par Scott MacDonald et Whitney Rockley. Avec le Fonds III, McRock investit exclusivement dans le logiciel industriel et l'IA industrielle, en Serie A et Serie B. Le Fonds III a realise son closing final en decembre 2025 a plus de 120 M$ CA (environ 88 M$ US), le plus grand fonds de la firme a ce jour, portant l'actif sous gestion total a environ 300 M$ CA. McRock deploie environ 60 pour cent du fonds au Canada, le reste aux Etats-Unis avec quelques investissements en Europe et en Israel. Bureaux a 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, Autodesk 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":"EDC","slug":"edc"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Alberta Enterprise Corporation","slug":"alberta-enterprise-corporation"},{"name":"Fonds de solidarite FTQ","slug":"fonds-de-solidarite-ftq"},{"name":"AspenTech","slug":"aspentech"},{"name":"Caterpillar","slug":"caterpillar"},{"name":"Autodesk","slug":"autodesk"},{"name":"Bell Ventures","slug":"bell-ventures"},{"name":"CIBC Innovation Banking","slug":"cibc-innovation-banking"},{"name":"Venture Ontario","slug":"venture-ontario"}],"people":[{"fullName":"Scott MacDonald","role":"Co-Founder & Managing Partner","linkedinURL":"https://www.linkedin.com/in/scott-macdonald-0252b/","initials":"SM","avatarBgColor":"#534AB7"},{"fullName":"Whitney Rockley","role":"Co-Founder & Managing Partner","linkedinURL":"https://www.linkedin.com/in/whitney-rockley-37970212/","initials":"WR","avatarBgColor":"#1D9E75"},{"fullName":"Ha Nguyen","role":"Partner","linkedinURL":"https://www.linkedin.com/in/ha-nguyen-67135657/","initials":"HN","avatarBgColor":"#A32D2D"},{"fullName":"Udit Bhatnagar","role":"Partner","linkedinURL":"https://www.linkedin.com/in/uditbh/","initials":"UB","avatarBgColor":"#712B13"}],"portfolio":[{"name":"Foundation EGI","sector":"AI / ML","stage":"Series A","year":2025},{"name":"OneLayer","sector":"SaaS / Vertical SaaS","stage":"Series A","year":2025},{"name":"Prevu3D","sector":"SaaS / Vertical SaaS","stage":"Series A","year":2024},{"name":"Samdesk","sector":"AI / ML","stage":"Series A","year":2021},{"name":"Landing AI","sector":"AI / ML","stage":"Series A","year":2021},{"name":"Triax Technologies","sector":"Deeptech / Hardware","stage":"Series A 2021 (exit: Invixium 2024)","year":null},{"name":"Poka","sector":"SaaS / Vertical SaaS","stage":"Series A 2021 (exit: IFS 2023)","year":null},{"name":"ThoughtTrace","sector":"AI / ML","stage":"2020 (exit: Thomson Reuters 2022)","year":null},{"name":"mnubo","sector":"AI / ML","stage":"2015 (exit: AspenTech 2019)","year":null}],"verifiedSource":"https://mcrockcapital.com/team/","lastVerifiedAt":"2026-06-09","editorialLevel":"Long tail (light)"},{"id":"rec19","slug":"golden-ventures","name":"Golden Ventures","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed","Series A"],"sectors":["SaaS / Vertical SaaS","AI / ML","Fintech / Insurtech","Marketplace / Consumer","Deeptech / Hardware"],"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":"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":"Ameet Shah","role":"General Partner","linkedinURL":"https://www.linkedin.com/in/ameetshah/","initials":"AS","avatarBgColor":"#1D9E75"},{"fullName":"Jamie Rosenblatt","role":"Partner","linkedinURL":"https://www.linkedin.com/in/jamierosenblatt/","initials":"JR","avatarBgColor":"#A32D2D"},{"fullName":"Nick Chen","role":"Partner","linkedinURL":"https://www.linkedin.com/in/nicolasnchen/","initials":"NC","avatarBgColor":"#712B13"},{"fullName":"Bert Amato","role":"Venture Partner","linkedinURL":"https://www.linkedin.com/in/bertamato/","initials":"BA","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"Faire","sector":"Marketplace / Consumer","stage":"","year":null},{"name":"Neo Financial","sector":"Fintech / Insurtech","stage":"2019","year":null},{"name":"Top Hat","sector":"Vertical SaaS","stage":"2012","year":null},{"name":"Properly","sector":"Marketplace / Consumer","stage":"Exited","year":2019}],"verifiedSource":"https://betakit.com/golden-ventures-closes-nearly-140-million-cad-for-fifth-seed-stage-vc-fund/","lastVerifiedAt":"2026-06-02","editorialLevel":"Top 30 (full)"},{"id":"rec20","slug":"globalive-build-studio","name":"Globalive Build Studio","type":"Other","conviction":"generaliste","stages":["Pre-seed","Seed"],"sectors":["Fintech / Insurtech","Healthtech / Biotech","Deeptech / Hardware","Marketplace / Consumer","AI / ML"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Not disclosed"},"leadFollow":"Lead","province":["ON","OTHER"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":null,"fundSize":null,"activity":"Selectif","lastDealDate":"2025-07-07","website":"https://www.globalive.com/build-studio","linkedinURL":"https://www.linkedin.com/company/globalivecapital/","logo":"/assets/vc-logos/globalive-build-studio.png?v=4","logoBgColor":"#A855F7","thesis":{"en":"Globalive Build Studio is a venture studio, not a fund: it co-founds and builds companies in-house rather than only writing cheques into existing startups. For founders, that means Globalive partners from idea or day zero, often helping define the product, recruit the founding team, and embed its own operators across product, GTM, finance, legal and governance, in exchange for meaningful equity and an active build role. The studio works with only a select set of ventures where it can go all in across capital, product and execution, drawing on 25-plus years of operating experience in telecom, media, health and finance. Founders should expect a hands-on co-building relationship and shared ownership, not a passive minority investment. Globalive also runs a separate investment platform (Globalive Capital) for more traditional minority stakes.","fr":"Globalive Build Studio est un venture studio, pas un fonds: il co-fonde et batit des entreprises en interne plutot que de seulement investir dans des startups existantes. Pour les fondateurs, cela signifie que Globalive s'associe des l'idee ou le jour zero, aidant souvent a definir le produit, recruter l'equipe fondatrice et integrer ses propres operateurs en produit, mise en marche, finance, juridique et gouvernance, en echange d'une part d'equity significative et d'un role actif de construction. Le studio ne travaille qu'avec un nombre restreint d'entreprises ou il peut tout engager (capital, produit, execution), s'appuyant sur plus de 25 ans d'experience operationnelle en telecom, medias, sante et finance. Les fondateurs doivent s'attendre a une relation de co-construction tres impliquee et a une propriete partagee, pas a un investissement minoritaire passif. Globalive exploite aussi une plateforme d'investissement distincte (Globalive Capital) pour des prises de participation minoritaires plus traditionnelles."},"tagline":{"en":"Co-building what's next with founders.","fr":"Co-batir la suite avec les fondateurs."},"valueAdd":{"en":["Operator-led studio that co-builds from idea to launch, recruiting founding teams rather than just funding them","25-plus years and 12 companies built across telecom, media, health and finance, with a proven exit (WIND Mobile, $1.6B)","Shared operating stack spanning product and design, AI enablement, board and governance, media and content, and finance and legal (fractional CFO via Liberty Horizon)","Founder-deployed permanent capital with long-term involvement across growth, monetization and future rounds","In-house media and distribution engine (Beyond Innovation airs in 70-plus countries) to amplify portfolio positioning"],"fr":["Studio dirige par des operateurs qui co-batissent de l'idee au lancement, recrutant les equipes fondatrices plutot que de seulement les financer","Plus de 25 ans et 12 entreprises baties en telecom, medias, sante et finance, avec une sortie eprouvee (WIND Mobile, 1,6 G$)","Pile operationnelle partagee couvrant produit et design, activation IA, conseil et gouvernance, medias et contenu, finance et juridique (CFO fractionnaire via Liberty Horizon)","Capital permanent deploye par les fondateurs, avec implication a long terme sur la croissance, la monetisation et les tours futurs","Moteur de medias et de distribution interne (Beyond Innovation diffuse dans plus de 70 pays)"]},"followOnNarrative":{"en":"Globalive embeds its own operators inside each venture from day zero, helping define the product model, recruit founding teams, and run design, research and GTM toward a launch-ready company. It backs builds with capital and stays involved across growth strategy, product evolution, monetization and future financing, plus access to a shared stack covering legal, finance (fractional CFO), AI tooling, board governance and a media network. The studio is deliberately selective, going all in on a small number of ventures rather than spreading thin.","fr":"Globalive integre ses propres operateurs dans chaque entreprise des le jour zero, aidant a definir le modele de produit, recruter les equipes fondatrices et mener design, recherche et mise en marche vers une entreprise prete a lancer. Il soutient les constructions avec du capital et reste implique sur la strategie de croissance, l'evolution du produit, la monetisation et les financements futurs, plus l'acces a une pile partagee couvrant juridique, finance (CFO fractionnaire), outils d'IA, gouvernance et un reseau de medias. Le studio est deliberement selectif, s'engageant a fond sur un petit nombre d'entreprises."},"keyQuestions":{"en":["Are you turning a bold idea into a real company, and would you welcome a hands-on co-builder taking an active operating and equity role rather than a passive investor?","Is your venture in a regulated or overlooked space (fintech, health and longevity, telecom infrastructure, consumer) where Globalive's operating DNA and shared stack add real leverage?","Where are you stuck (strategy, build, team, GTM, capital), and how would deep operational involvement from day zero change your trajectory?"],"fr":["Transformez-vous une idee audacieuse en une vraie entreprise, et accueilleriez-vous un co-batisseur prenant un role operationnel et en equity actif plutot qu'un investisseur passif?","Votre entreprise est-elle dans un espace reglemente ou neglige (fintech, sante et longevite, infrastructure telecom, consommation) ou l'ADN operationnel et la pile partagee de Globalive ajoutent un reel levier?","Ou etes-vous bloque (strategie, construction, equipe, mise en marche, capital), et comment une implication operationnelle profonde des le jour zero changerait-elle votre trajectoire?"]},"coInvestors":[{"name":"Orascom Telecom","slug":"orascom-telecom"},{"name":"Globalive Capital","slug":"globalive-capital"},{"name":"Longevity League (EverMe)","slug":"longevity-league-everme"},{"name":"Canadian investor consortium (WealthONE)","slug":"canadian-investor-consortium-wealthone"}],"people":[{"fullName":"Anthony Lacavera","role":"Founder and Chairman","linkedinURL":"https://ca.linkedin.com/in/anthonylacavera","initials":"AL","avatarBgColor":"#534AB7"},{"fullName":"Brice Scheschuk","role":"Managing Partner, Globalive Capital","linkedinURL":"","initials":"BS","avatarBgColor":"#1D9E75"},{"fullName":"Simon Lockie","role":"Partner","linkedinURL":"","initials":"SL","avatarBgColor":"#A32D2D"},{"fullName":"Florence Au","role":"Managing Director, Globalive Capital","linkedinURL":"","initials":"FA","avatarBgColor":"#712B13"},{"fullName":"Mila Glisic","role":"Managing Director, Globalive Capital","linkedinURL":"","initials":"MG","avatarBgColor":"#0EA5E9"},{"fullName":"Catherine Lacavera","role":"Board Director","linkedinURL":"","initials":"CL","avatarBgColor":"#F59E0B"}],"portfolio":[{"name":"EverMe","sector":"Healthtech / Biotech","stage":"Seed","year":2025},{"name":"Pairus","sector":"Marketplace / Consumer","stage":"Seed","year":2025},{"name":"Beyond Innovation","sector":"Marketplace / Consumer","stage":"2025","year":null},{"name":"Liberty Horizon","sector":"SaaS / Vertical SaaS","stage":"2025","year":null},{"name":"WealthONE Bank of Canada","sector":"Fintech / Insurtech","stage":"Acquired","year":2025},{"name":"Paradise Mobile","sector":"Deeptech / Hardware","stage":"Active","year":null},{"name":"WIND Mobile","sector":"Deeptech / Hardware","stage":"Exit 2016 (Shaw)","year":null}],"verifiedSource":"https://www.globalive.com/build-studio","lastVerifiedAt":"2026-06-01","editorialLevel":"Long tail (light)"},{"id":"rec21","slug":"nadarra-ventures","name":"Nàdarra Ventures","type":"VC","conviction":"pure-play","stages":["Seed","Series A"],"sectors":["Healthtech / Biotech","Climate / Energy"],"ticket":{"min":1000000,"max":3000000,"currency":"CAD","label":"$1M-$3M"},"leadFollow":"Lead","province":["QC","ON","BC","AB","NS","NB","NL","PE"],"hq":{"city":"Halifax","region":"NS"},"languages":["EN"],"founded":2023,"fundSize":{"value":20,"currency":"CAD","vintage":2023},"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 early Series A fund investing in sustainable biotechnology for food, agriculture and materials, with national (coast-to-coast) coverage. Nadarra reached a first close of $20M (target $50M) in summer 2023, anchored by Farm Credit Canada and Natural Products Canada. It writes $1M to $3M cheques. Recent deals include leading Opalia's $3.2M seed round (April 2026), co-leading AuX Labs' $4M round (April 2026), and leading Dispersa's $5.8M seed (February 2025).","fr":"Fonds halifaxien seed et Série A axé sur la biotech durable (alimentation, agriculture, matériaux). Nàdarra a réalisé un premier closing à 20 M$ 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":"Sustainable biotech for food, agriculture and materials.","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":"NYA Ventures","slug":"nya-ventures"},{"name":"Verdex Capital","slug":"verdex-capital"},{"name":"Builders VC","slug":"builders-vc"},{"name":"Cycle Momentum","slug":"cycle-momentum"},{"name":"BDC Thrive Labs","slug":"bdc-thrive-labs"},{"name":"Fondaction","slug":"fondaction"},{"name":"BoxOne Ventures","slug":"boxone-ventures"},{"name":"Spring Capital","slug":"spring-capital"},{"name":"UCeed","slug":"uceed"},{"name":"Anges Quebec","slug":"anges-quebec"}],"people":[{"fullName":"Malcolm Fraser","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/callumfriseal/","initials":"MF","avatarBgColor":"#534AB7"},{"fullName":"Mary Dimou","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/marydimou/","initials":"MD","avatarBgColor":"#1D9E75"},{"fullName":"Richard de Palmas","role":"Venture Partner","linkedinURL":"https://ca.linkedin.com/in/richard-de-palmas-6276b79b","initials":"RD","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Opalia","sector":"Healthtech / Biotech","stage":"Seed","year":2026},{"name":"AuX Labs","sector":"Healthtech / Biotech","stage":"Seed","year":2026},{"name":"Dispersa","sector":"Climate / Energy","stage":"Seed","year":2025},{"name":"Sperri","sector":"Marketplace / Consumer","stage":"Seed","year":2024},{"name":"Freshr Technologies","sector":"Healthtech / Biotech","stage":"NC","year":null},{"name":"Naak","sector":"Marketplace / Consumer","stage":"NC","year":null}],"verifiedSource":"https://www.nadarraventures.ca/our-portfolio","lastVerifiedAt":"2026-06-09","editorialLevel":"Long tail (light)"},{"id":"rec22","slug":"qv-studio","name":"QV Studio","type":"Other","conviction":"pure-play","stages":["Pre-seed"],"sectors":["Deeptech / Hardware","AI / ML"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Not disclosed"},"leadFollow":"Lead","province":["QC"],"hq":{"city":"Sherbrooke","region":"QC"},"languages":["EN","FR"],"founded":2023,"fundSize":null,"activity":"Actif","lastDealDate":"2025-05-14","website":"https://www.qvstudio.com","linkedinURL":"https://www.linkedin.com/company/qv-studio/","logo":"/assets/vc-logos/qv-studio.png?v=4","logoBgColor":"#712B13","thesis":{"en":"QV Studio is the world's first venture studio dedicated to quantum technologies, based in Sherbrooke's DistriQ quantum innovation zone. As a venture studio (not a fund that backs your existing company), it co-founds and incorporates new companies in-house from university quantum research, then co-invests at pre-seed alongside its partner VC funds Quantacet and Quantonation. For founders this means it is most relevant if you are a researcher or scientist-entrepreneur ready to spin a company out of quantum science: QV Studio helps build the company itself, providing capital, operating talent and lab infrastructure in exchange for equity. Over a three-year program it works to secure each company at least $1M CAD in pre-seed (dilutive and non-dilutive) and at least $5M CAD in seed by graduation. It is a non-profit funded by Quebec's Ministry of Economy, Innovation and Energy.","fr":"QV Studio est le premier venture studio au monde dedie aux technologies quantiques, situe dans la zone d'innovation quantique DistriQ a Sherbrooke. En tant que venture studio (et non un fonds qui investit dans votre societe existante), il co-fonde et incorpore de nouvelles entreprises en interne a partir de la recherche quantique universitaire, puis co-investit en pre-amorcage aux cotes de ses fonds partenaires Quantacet et Quantonation. Pour les fondateurs, il est surtout pertinent si vous etes chercheur ou scientifique-entrepreneur pret a essaimer une entreprise issue de la science quantique: QV Studio aide a batir l'entreprise elle-meme, en fournissant capital, talent operationnel et infrastructure de laboratoire en echange d'equity. Sur un programme de trois ans, il vise a securiser pour chaque entreprise au moins 1 M$ CA en pre-amorcage (dilutif et non dilutif) et au moins 5 M$ CA en amorcage a la diplomation. C'est un organisme a but non lucratif finance par le ministere de l'Economie, de l'Innovation et de l'Energie du Quebec."},"tagline":{"en":"Building quantum startups from research.","fr":"Batir les startups quantiques depuis la recherche."},"valueAdd":{"en":["World's first venture studio focused on quantum technologies","Co-founds companies in-house rather than only writing cheques","Direct access to Espace Quantique 1 (50,000 sq ft shared quantum labs)","Three-year program pairing dilutive and non-dilutive financing with pre-seed co-investment from Quantacet and Quantonation","Embedded in the DistriQ and Universite de Sherbrooke quantum ecosystem"],"fr":["Premier venture studio au monde dedie aux technologies quantiques","Co-fonde les entreprises en interne plutot que de seulement emettre des cheques","Acces direct a l'Espace Quantique 1 (50 000 pi2 de laboratoires quantiques partages)","Programme de trois ans combinant financement dilutif et non dilutif et co-investissement pre-amorcage de Quantacet et Quantonation","Ancre dans l'ecosysteme DistriQ et de l'Universite de Sherbrooke"]},"followOnNarrative":{"en":"QV Studio supports founders as a hands-on co-builder, not a passive backer. A resident team of tech entrepreneurs, scientists in residence and consultants from the ACET and Quantonation/Quantacet networks works alongside the founding team on company formation, product, finance, IP and go-to-market, while providing access to shared quantum labs and pre-seed capital. The goal across the three-year program is to de-risk the science and reach the financing milestones needed to attract major private and public-private investment.","fr":"QV Studio accompagne les fondateurs comme un co-batisseur tres implique, pas un bailleur passif. Une equipe residente d'entrepreneurs technologiques, de scientifiques en residence et de consultants des reseaux ACET et Quantonation/Quantacet travaille aux cotes de l'equipe fondatrice sur la constitution de l'entreprise, le produit, la finance, la PI et la mise en marche, tout en donnant acces a des laboratoires quantiques partages et a du capital de pre-amorcage. L'objectif sur le programme de trois ans est de reduire le risque scientifique et d'atteindre les jalons de financement necessaires pour attirer des investissements prives et publics-prives majeurs."},"keyQuestions":{"en":["Is your venture rooted in quantum science or a closely adjacent deep-tech discipline, and is the research close to a defensible proof of concept?","Are you a founder or research team willing to build and incorporate the company inside a venture studio, accepting equity participation by the studio and its partner funds rather than a pure external investment?","Can your technology plausibly reach a $1M pre-seed milestone within three years and a $5M seed at graduation, with a credible path to a real market?"],"fr":["Votre projet est-il ancre dans la science quantique ou une discipline deeptech tres proche, et la recherche approche-t-elle d'une preuve de concept defendable?","Etes-vous un fondateur ou une equipe de recherche prets a batir et incorporer l'entreprise au sein d'un venture studio, en acceptant la participation en equity du studio et de ses fonds partenaires plutot qu'un investissement externe pur?","Votre technologie peut-elle atteindre un jalon de pre-amorcage de 1 M$ en trois ans et un amorcage de 5 M$ a la diplomation, avec un chemin credible vers un marche reel?"]},"coInvestors":[{"name":"Quantonation","slug":"quantonation"},{"name":"Quantacet","slug":"quantacet"},{"name":"Prompt","slug":"prompt"},{"name":"DistriQ","slug":"distriq"},{"name":"ACET","slug":"acet"},{"name":"Universite de Sherbrooke / Institut quantique","slug":"universite-de-sherbrooke-institut-quantique"}],"people":[{"fullName":"Sarah Jenna","role":"Managing Director","linkedinURL":"","initials":"SJ","avatarBgColor":"#534AB7"},{"fullName":"William Savard","role":"Program Director","linkedinURL":"","initials":"WS","avatarBgColor":"#1D9E75"},{"fullName":"Bouraoui Ilahi","role":"Scientist in Residence","linkedinURL":"","initials":"BI","avatarBgColor":"#A32D2D"},{"fullName":"Marie-Claude Vidal","role":"Community Manager","linkedinURL":"","initials":"MV","avatarBgColor":"#712B13"},{"fullName":"Anie Perrault","role":"Board President","linkedinURL":"","initials":"AP","avatarBgColor":"#0EA5E9"},{"fullName":"Chloe Archambault","role":"Board Member (Partner, Quantacet)","linkedinURL":"","initials":"CA","avatarBgColor":"#F59E0B"},{"fullName":"Joseph Maillard","role":"Board Member (COO, Quantonation)","linkedinURL":"","initials":"JM","avatarBgColor":"#EC4899"},{"fullName":"Christian Sarra-Bournet","role":"Board Member (Executive Director, Institut quantique)","linkedinURL":"","initials":"CS","avatarBgColor":"#14B8A6"},{"fullName":"Martin Laforest","role":"Scientific Committee President (Partner, Quantacet)","linkedinURL":"","initials":"ML","avatarBgColor":"#A855F7"}],"portfolio":[{"name":"Quminex","sector":"AI / ML","stage":"Pre-seed","year":2025},{"name":"SilQ Connect","sector":"Deeptech / Hardware","stage":"Pre-seed","year":2025}],"verifiedSource":"https://www.qvstudio.com","lastVerifiedAt":"2026-06-01","editorialLevel":"Long tail (light)"},{"id":"rec23","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":"Both","province":["ON","QC","BC","OTHER"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN","FR"],"founded":2007,"fundSize":{"value":275,"currency":"CAD","vintage":2026},"activity":"Actif","lastDealDate":"2026-04-27","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 dedicated life sciences VC","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":"Investissement Quebec","slug":"investissement-quebec"},{"name":"OrbiMed","slug":"orbimed"},{"name":"Desjardins Capital","slug":"desjardins-capital"},{"name":"Amplitude Ventures","slug":"amplitude-ventures"}],"people":[{"fullName":"Peter van der Velden","role":"Executive Chairman","linkedinURL":"https://www.linkedin.com/in/petervandervelden/","initials":"PV","avatarBgColor":"#534AB7"},{"fullName":"Gerry Brunk","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/gerrybrunk/","initials":"GB","avatarBgColor":"#1D9E75"},{"fullName":"Beni Rovinski","role":"Managing Director","linkedinURL":"https://ca.linkedin.com/in/benjamin-rovinski-3435a8a","initials":"BR","avatarBgColor":"#A32D2D"},{"fullName":"Daniel Hetu","role":"Managing Director","linkedinURL":"","initials":"DH","avatarBgColor":"#712B13"},{"fullName":"Jacki Jenuth","role":"Partner & COO","linkedinURL":"https://www.linkedin.com/in/jacki-jenuth-51b9401/","initials":"JJ","avatarBgColor":"#0EA5E9"},{"fullName":"Lu Han","role":"Partner","linkedinURL":"","initials":"LH","avatarBgColor":"#F59E0B"},{"fullName":"Nikhil Thatte","role":"Partner","linkedinURL":"","initials":"NT","avatarBgColor":"#EC4899"}],"portfolio":[{"name":"Nervonik","sector":"Healthtech / Biotech","stage":"Series B","year":2026},{"name":"Congruence Therapeutics","sector":"Healthtech / Biotech","stage":"Series B","year":2026},{"name":"Axonis Therapeutics","sector":"Healthtech / Biotech","stage":"Series A","year":2025},{"name":"OncoMyx","sector":"Healthtech / Biotech","stage":"Series B","year":2025},{"name":"COUR Pharmaceuticals","sector":"Healthtech / Biotech","stage":"Series A","year":2025},{"name":"Puzzle Medical","sector":"Healthtech / Biotech","stage":"Series A","year":2025},{"name":"Alpha-9 Oncology","sector":"Healthtech / Biotech","stage":"Series C","year":2024}],"verifiedSource":"https://www.lumiraventures.com/news/","lastVerifiedAt":"2026-06-02","editorialLevel":"Top 30 (full)"},{"id":"rec24","slug":"cdpq","name":"CDPQ","type":"Public","conviction":"generaliste","stages":["Series B+"],"sectors":["AI / ML","Fintech / Insurtech","Healthtech / Biotech","Climate / Energy","SaaS / Vertical SaaS"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Not disclosed"},"leadFollow":"Both","province":["QC","ON","OTHER"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":1965,"fundSize":null,"activity":"Actif","lastDealDate":"2026-05-20","website":"https://www.lacaisse.com/en","linkedinURL":"https://www.linkedin.com/company/lacaisse","logo":"/assets/vc-logos/cdpq.png?v=4","logoBgColor":"#534AB7","thesis":{"en":"CDPQ, which now operates under the La Caisse brand, is one of Canada's largest institutional investors: a public pension and insurance fund manager with roughly $517B CAD in net assets, not an early-stage venture firm that reviews cold pitch decks. For startup founders, the realistic point of contact is indirect: CDPQ is a limited partner in many Quebec and international VC funds (Inovia, Real Ventures, BrightSpark, Teralys, Luge, Anges Quebec Capital and others), so its capital reaches early-stage companies through those managers rather than directly. CDPQ does invest directly in technology, but typically at growth or late stage (often around Series C and beyond), through its Venture Capital and Technology team, writing large cheques into companies with strong recurring revenue and an established team. A seed or Series A founder should not expect a direct CDPQ cheque; the better path is to raise from a fund CDPQ backs, build to scale, then engage CDPQ later for growth capital. Growth-stage founders in Quebec or pan-Canadian tech (AI, fintech, healthtech, climate, vertical SaaS) can approach via the Quebec Investments or Venture Capital and Technology teams, or a warm introduction.","fr":"La CDPQ, qui opere desormais sous la marque La Caisse, est l'un des plus grands investisseurs institutionnels au Canada: un gestionnaire de fonds de retraite et d'assurance avec environ 517 G$ CA d'actif net, pas une firme de capital de risque early-stage qui examine des pitchs a froid. Pour les fondateurs de startups, le point de contact realiste est indirect: la CDPQ est commanditaire (LP) dans de nombreux fonds de VC quebecois et internationaux (Inovia, Real Ventures, BrightSpark, Teralys, Luge, Anges Quebec Capital et autres), donc son capital atteint les entreprises en amorcage via ces gestionnaires plutot que directement. La CDPQ investit directement dans la technologie, mais en general au stade de croissance ou tardif (souvent autour de la Serie C et au-dela), via son equipe Capital de risque et technologies, avec de gros cheques dans des entreprises a revenus recurrents solides et une equipe etablie. Un fondateur en amorcage ou Serie A ne devrait pas s'attendre a un cheque direct; la meilleure voie est de lever aupres d'un fonds qu'elle soutient, de croitre, puis d'engager la CDPQ plus tard pour du capital de croissance. Les fondateurs deja en croissance en tech quebecoise ou pancanadienne (IA, fintech, sante, climat, SaaS vertical) peuvent approcher via les equipes Investissements au Quebec ou Capital de risque et technologies, ou par une introduction chaude."},"tagline":{"en":"Quebec's pension giant: growth capital and fund backer.","fr":"Le geant de retraite du Quebec: capital de croissance et bailleur de fonds."},"valueAdd":{"en":["Patient, long-horizon institutional capital from one of the world's largest pension managers, able to support a company across multiple rounds and into public markets","The pension fund most invested in its own local (Quebec) economy, with deep networks","LP positions across most major Quebec and Canadian VC funds, providing the ecosystem's capital base even where it does not invest directly","In-house expertise teams (sustainable investing, technology, cybersecurity) and operational support beyond financing","Ability to write very large growth cheques and act as anchor investor for Quebec champions expanding internationally"],"fr":["Capital institutionnel patient et a long horizon, de l'un des plus grands gestionnaires de retraite au monde, capable de soutenir une entreprise sur plusieurs tours et jusqu'en bourse","Le fonds de pension le plus investi dans son economie locale (le Quebec), avec des reseaux profonds","Positions de LP dans la plupart des grands fonds de VC quebecois et canadiens, donnant sa base de capital a l'ecosysteme meme la ou il n'investit pas directement","Equipes d'expertise internes (investissement durable, technologie, cybersecurite) et soutien operationnel au-dela du financement","Capacite a emettre de tres gros cheques de croissance et a agir comme investisseur d'ancrage pour les champions quebecois en expansion internationale"]},"followOnNarrative":{"en":"CDPQ frames its role as structuring and value-additive, not purely financial: it pairs flexible growth capital with sector expertise, operational guidance and access to an extensive Quebec and international business network. In tech, the Venture Capital and Technology and mid-market teams help portfolio companies scale and expand abroad. Founders should treat CDPQ as a later-stage partner and ecosystem anchor reached through its funds and networks, rather than a direct seed-stage backer.","fr":"La CDPQ presente son role comme structurant et a valeur ajoutee, pas purement financier: elle associe un capital de croissance flexible a une expertise sectorielle, un accompagnement operationnel et l'acces a un vaste reseau d'affaires quebecois et international. En tech, les equipes Capital de risque et technologies et marche intermediaire aident les societes du portefeuille a croitre et a s'etendre a l'etranger. Les fondateurs devraient voir la CDPQ comme un partenaire de stade plus avance et un ancrage de l'ecosysteme, atteint via ses fonds et reseaux, plutot qu'un bailleur direct en amorcage."},"keyQuestions":{"en":["Is the company at growth or late stage (strong recurring revenue, clear path to profitability, established team) rather than seed or Series A, where CDPQ does not invest directly?","Does the company have a clear Quebec or Canadian economic footprint and the scale to absorb a large growth cheque while delivering a strong long-term return for depositors?","Is there an existing relationship through a CDPQ-backed fund (Inovia, Teralys, Real Ventures) or a portfolio company that can provide a warm introduction, rather than a cold inbound pitch?"],"fr":["L'entreprise est-elle au stade de croissance ou tardif (revenus recurrents solides, chemin vers la rentabilite, equipe etablie) plutot qu'en amorcage ou Serie A, ou la CDPQ n'investit pas directement?","L'entreprise a-t-elle une empreinte economique quebecoise ou canadienne claire et l'echelle pour absorber un gros cheque de croissance tout en offrant un rendement a long terme aux deposants?","Existe-t-il deja une relation via un fonds soutenu par la CDPQ (Inovia, Teralys, Real Ventures) ou une societe du portefeuille pouvant fournir une introduction chaude, plutot qu'un pitch entrant a froid?"]},"coInvestors":[{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"Teralys Capital","slug":"teralys-capital"},{"name":"Real Ventures","slug":"real-ventures"},{"name":"Brightspark Ventures","slug":"brightspark-ventures"},{"name":"White Star Capital","slug":"white-star-capital"},{"name":"Luge Capital","slug":"luge-capital"},{"name":"Anges Quebec Capital","slug":"anges-quebec-capital"},{"name":"Fonds de solidarite FTQ","slug":"fonds-de-solidarite-ftq"}],"people":[{"fullName":"Charles Emond","role":"President and Chief Executive Officer","linkedinURL":"https://www.lacaisse.com/en/about-us/governance/executive-committee/charles-emond","initials":"CE","avatarBgColor":"#534AB7"},{"fullName":"Kim Thomassin","role":"Executive Vice-President and Head of Québec","linkedinURL":"https://www.lacaisse.com/en/about-us/governance/executive-committee/kim-thomassin","initials":"KT","avatarBgColor":"#1D9E75"},{"fullName":"Julien Dirand","role":"Managing Director, Mid-Market Companies and Venture Capital","linkedinURL":"https://www.lacaisse.com/en/investments/julien-dirand","initials":"JD","avatarBgColor":"#A32D2D"},{"fullName":"Caroline Côté","role":"Managing Director, Investment Funds and External Management, Private Markets","linkedinURL":"https://www.lacaisse.com/en/investments/caroline-cote","initials":"CC","avatarBgColor":"#712B13"}],"portfolio":[{"name":"Novisto","sector":"SaaS / Vertical SaaS","stage":"Growth","year":2026},{"name":"Workleap","sector":"SaaS / Vertical SaaS","stage":"Growth","year":2023},{"name":"Lightspeed","sector":"SaaS / Vertical SaaS","stage":"Growth","year":null},{"name":"Nuvei","sector":"Fintech / Insurtech","stage":"Growth","year":null},{"name":"Dialogue","sector":"Healthtech / Biotech","stage":"Growth","year":null},{"name":"AlayaCare","sector":"Healthtech / Biotech","stage":"Growth","year":null},{"name":"Hopper","sector":"Marketplace / Consumer","stage":"Growth","year":null}],"verifiedSource":"https://www.lacaisse.com/en","lastVerifiedAt":"2026-06-29","editorialLevel":""},{"id":"rec25","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":50.5,"currency":"CAD","vintage":2019},"activity":"Selectif","lastDealDate":"2026-01-15","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":"Early stage capital for Atlantic Canadian technology companies.","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 $65M, Build holds reserves for follow-ons into seed and Series A winners and coordinates downstream rounds with BDC Capital, Invest Nova Scotia, NBIF and Concrete Ventures. Founders are expected to graduate to a national or US-led Series A within 24 months.","fr":"Sur deux fonds totalisant 65 M$, Build conserve des reserves pour les suivis seed et Serie A et coordonne les rondes aval avec BDC Capital, Invest Nova Scotia, 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":"Invest Nova Scotia","slug":"invest-nova-scotia"},{"name":"Concrete Ventures","slug":"concrete-ventures"},{"name":"Flying Fish Ventures","slug":"flying-fish-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 BioFibR","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":"Seed","year":2017}],"verifiedSource":"https://www.buildventures.ca/investments","lastVerifiedAt":"2026-06-03","editorialLevel":"Top 30 (full)"},{"id":"rec26","slug":"chrysalix-venture-capital","name":"Chrysalix Venture Capital","type":"VC","conviction":"pure-play","stages":["Seed","Series A","Series B+"],"sectors":["Climate / Energy","Deeptech / Hardware"],"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":136,"currency":"CAD","vintage":2023},"activity":"Selectif","lastDealDate":"2026-04-21","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 and Delft VC for industrial innovation in resource-intensive industries (mining, metals, forestry, energy, chemicals, manufacturing). A 20-year track record across three vehicles: the Chrysalix Energy Fund, the RoboValley Fund (final close near US$100M in 2022) and the current Carbon Neutrality / Industrial Innovation Fund (the firm's fifth fund, first close 2023, US$120M target). Founder Wal van Lierop moved to a part-time role in January 2025; managing partner Fred van Beuningen now leads the investment team.","fr":"Pure-play cleantech vancouvérois et de Delft focalisé sur la décarbonation industrielle et l'innovation dans les ressources. Dernier fonds réellement clos : le RoboValley Fund (clôture finale proche de 100 M$ US en 2022) ; le véhicule courant est le cinquième fonds, le Carbon Neutrality / Industrial Innovation Fund (première clôture 2023, cible 120 M$ US). Le fondateur Wal van Lierop est passé à un rôle à temps partiel en janvier 2025. Convictions de long terme sur la transition industrielle."},"tagline":{"en":"Industrial innovation for resource-intensive industries.","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/fbeuningen/","initials":"FV","avatarBgColor":"#534AB7"},{"fullName":"Charles Haythornthwaite","role":"Senior Partner","linkedinURL":"https://www.linkedin.com/in/charlie-haythornthwaite-a4b9b/","initials":"CH","avatarBgColor":"#1D9E75"},{"fullName":"Greg Allen","role":"Partner","linkedinURL":"https://www.linkedin.com/in/gregcallen/","initials":"GA","avatarBgColor":"#A32D2D"},{"fullName":"Alfred Lam","role":"Partner","linkedinURL":"https://www.linkedin.com/in/alfredywlam/","initials":"AL","avatarBgColor":"#712B13"},{"fullName":"Wal van Lierop","role":"Founding Partner (part-time depuis 2025)","linkedinURL":"https://www.linkedin.com/in/wal-van-lierop-7022581/","initials":"WV","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"Geopyörä","sector":"Deeptech / Hardware","stage":"Seed","year":2026},{"name":"Rithmik Solutions","sector":"AI / ML","stage":"Seed","year":2024},{"name":"Deadwood Innovations","sector":"Climate / Energy","stage":"Seed","year":2024},{"name":"VerAI Discoveries","sector":"Deeptech / Hardware","stage":"NC","year":null},{"name":"Liminal Insights","sector":"Climate / Energy","stage":"NC","year":null},{"name":"Haila Technologies","sector":"Deeptech / Hardware","stage":"NC","year":null},{"name":"Svante","sector":"Climate / Energy","stage":"NC","year":null}],"verifiedSource":"https://www.chrysalix.com/team","lastVerifiedAt":"2026-06-10","editorialLevel":"Long tail (light)"},{"id":"rec27","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","ON","QC","AB","OTHER"],"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":"24/6 Capital Partners","slug":"24-6-capital-partners"},{"name":"Garage Capital","slug":"garage-capital"},{"name":"Well Health","slug":"well-health"}],"people":[{"fullName":"Maria Pacella","role":"Managing Partner","linkedinURL":"https://ca.linkedin.com/in/maria-pacella","initials":"MP","avatarBgColor":"#534AB7"},{"fullName":"Cheri Corbett","role":"Partner","linkedinURL":"","initials":"CC","avatarBgColor":"#1D9E75"},{"fullName":"Meryeme Lahmami","role":"Principal","linkedinURL":"","initials":"ML","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Jane App","sector":"Healthtech / Biotech","stage":"Growth","year":2023},{"name":"Science & Humans","sector":"Healthtech / Biotech","stage":"Series A","year":2026},{"name":"Engineered Intelligence","sector":"SaaS / Vertical SaaS","stage":"Series A","year":2026},{"name":"Veritree","sector":"SaaS / Vertical SaaS","stage":"Series A","year":2025},{"name":"DrugBank","sector":"Healthtech / Biotech","stage":"Growth","year":2022},{"name":"Traction Complete","sector":"SaaS / Vertical SaaS","stage":"Series A","year":2023},{"name":"Copperleaf","sector":"SaaS / Vertical SaaS","stage":"Exit 2024 (IFS)","year":null}],"verifiedSource":"https://www.penderventures.com/portfolio/","lastVerifiedAt":"2026-06-02","editorialLevel":"Long tail (light)"},{"id":"rec28","slug":"fonds-deconomie-circulaire-fec","name":"Fonds d’économie circulaire (FEC)","type":"VC","conviction":"pure-play","stages":["Pre-seed","Seed"],"sectors":["Climate / Energy","Marketplace / Consumer"],"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":"2025-02-11","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":"$30M Quebec fund (Canada's first circular-economy VC fund) managed by Fondaction Gestion d'actifs with RECYC-QUEBEC and the City of Montreal, providing $250K to $2M in equity and quasi-equity to early-stage circular-economy startups in recycling, eco-construction and agri-food.","fr":"Le Fonds d'economie circulaire est un fonds quebecois de 30 M$ 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":"NC","year":null},{"name":"Brique-Recyc","sector":"Climate / Energy","stage":"NC","year":null},{"name":"Groupe Onym","sector":"Climate / Energy","stage":"NC","year":null},{"name":"Still Good","sector":"Marketplace / Consumer","stage":"NC","year":null},{"name":"Loop Mission","sector":"Marketplace / Consumer","stage":"NC","year":null},{"name":"Mechasys","sector":"Climate / Energy","stage":"2025","year":null},{"name":"Dispersa","sector":"Climate / Energy","stage":"NC","year":null},{"name":"Ferme Tournevent","sector":"Marketplace / Consumer","stage":"NC","year":null},{"name":"AssistIQ","sector":"Healthtech / Biotech","stage":"NC","year":null}],"verifiedSource":"https://www.fondaction.com/entreprise/fonds-economie-circulaire/","lastVerifiedAt":"2026-06-01","editorialLevel":"Long tail (light)"},{"id":"rec29","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","QC","AB","BC","OTHER"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN","FR"],"founded":2021,"fundSize":{"value":20,"currency":"CAD","vintage":2026},"activity":"Selectif","lastDealDate":null,"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":"Royal Bank of Canada","slug":"royal-bank-of-canada"},{"name":"Boann Social Impact Fund","slug":"boann-social-impact-fund"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Export Development Canada","slug":"export-development-canada"}],"people":[{"fullName":"Lise Birikundavyi","role":"Managing Partner & Co-Founder","linkedinURL":"https://www.linkedin.com/in/lisebiri","initials":"LB","avatarBgColor":"#534AB7"},{"fullName":"Isaac Olowolafe","role":"General Partner & Co-Founder","linkedinURL":"https://www.linkedin.com/in/isaac-dream-maker-olowolafe-3ab86524/","initials":"IO","avatarBgColor":"#1D9E75"},{"fullName":"Ebenezer Arthur","role":"Partner","linkedinURL":"https://www.linkedin.com/in/ebenezerarthur/","initials":"EA","avatarBgColor":"#A32D2D"},{"fullName":"Rebecca Johnson","role":"Director","linkedinURL":"https://www.linkedin.com/in/rebecca-johnson-0439327b/","initials":"RJ","avatarBgColor":"#712B13"},{"fullName":"Victor Sada","role":"Principal","linkedinURL":"https://www.linkedin.com/in/victor-sada-95a27198","initials":"VS","avatarBgColor":"#0EA5E9"},{"fullName":"Dana Ramnarine","role":"Head of Talent","linkedinURL":"https://www.linkedin.com/in/danaramnarine/","initials":"DR","avatarBgColor":"#F59E0B"},{"fullName":"Ziyi Shi","role":"Director, BKR VC Fellowship","linkedinURL":"https://www.linkedin.com/in/ziyi-shi","initials":"ZS","avatarBgColor":"#EC4899"}],"portfolio":[{"name":"Protexxa","sector":"Cybersecurity","stage":"Seed","year":2022},{"name":"Woveo","sector":"Fintech / Insurtech","stage":"Seed","year":null},{"name":"Workind","sector":"SaaS / Vertical SaaS","stage":"Seed","year":null},{"name":"Moneta Health","sector":"Healthtech / Biotech","stage":"Seed","year":null},{"name":"Treepz","sector":"Marketplace / Consumer","stage":"Seed","year":null},{"name":"Cauridor","sector":"Fintech / Insurtech","stage":"Seed","year":null},{"name":"Simmunome","sector":"Healthtech / Biotech","stage":"Seed","year":null}],"verifiedSource":"https://www.bkrcapital.ca/about/our-team","lastVerifiedAt":"2026-06-10","editorialLevel":"Long tail (light)"},{"id":"rec30","slug":"maple-vc","name":"Maple VC","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed"],"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":["OTHER","ON","QC","BC","AB"],"hq":{"city":"San Francisco","region":"OTHER"},"languages":["EN"],"founded":2016,"fundSize":{"value":22,"currency":"CAD","vintage":null},"activity":"Selectif","lastDealDate":"2026-04-07","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 in 2016 by Andre Charoo (former #25 employee at Uber pre-IPO, ex-Inovia Venture Partner, Co-Chair of The C100), now with partners John Edgar and Jane Lee. Fund I raised $1.2M; Fund II closed at $16.5M USD in November 2021; Maple is currently raising a third $35M USD fund. Maple writes first cheques at pre-seed and seed, leading or co-leading, then leans on the C100 and Inovia networks to bring US tier-1 leads into later rounds. Notable portfolio includes Clay (GTM data platform, valued around US$5B in a January 2026 tender after its August 2025 CapitalG-led Series C) and Neo Financial.","fr":"Maple VC est un fonds de capital de risque seed basé à San Francisco qui investit exclusivement dans des entreprises dirigées par des fondateurs d'origine canadienne, peu importe où l'entreprise est bâtie. Fondé par Andre Charoo (ex-employé #25 d'Uber avant l'IPO, ex-Venture Partner chez Inovia, co-président de The C100). Le Fonds I a levé 1,2 M$; le Fonds II a clôturé à 16,5 M$ US en novembre 2021; le Fonds III tourne autour de 35 M$ US. Maple écrit les premiers chèques en pre-seed et seed, en lead ou co-lead, puis s'appuie sur les réseaux C100 et Inovia pour amener des leads américains de premier rang dans les tours suivants. Portefeuille notable : Clay (valorisée autour de 5 G$ US lors d'un tender de janvier 2026, après sa Série C menée par CapitalG en août 2025) et Neo Financial."},"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"}],"people":[{"fullName":"Andre Charoo","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/acharoo","initials":"AC","avatarBgColor":"#534AB7"},{"fullName":"John Edgar","role":"Partner","linkedinURL":"https://www.linkedin.com/in/dnsroot","initials":"JE","avatarBgColor":"#1D9E75"},{"fullName":"Jane Lee","role":"Partner","linkedinURL":"https://www.linkedin.com/in/janelee16","initials":"JL","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Clay","sector":"AI / ML","stage":"Seed","year":2017},{"name":"Neo Financial","sector":"Fintech / Insurtech","stage":"Series A","year":2020},{"name":"Bench IQ","sector":"AI / ML","stage":"Pre-seed","year":2023},{"name":"Finny","sector":"Fintech / Insurtech","stage":"Seed","year":2024},{"name":"Argus","sector":"Deeptech / Hardware","stage":"Seed","year":2025},{"name":"Sonibel","sector":"Deeptech / Hardware","stage":"Pre-seed","year":2026}],"verifiedSource":"https://www.maplevc.com/portfolio","lastVerifiedAt":"2026-06-06","editorialLevel":"Top 30 (full)"},{"id":"rec31","slug":"east-valley-ventures","name":"East Valley Ventures","type":"Angel","conviction":"tech-actif","stages":["Pre-seed","Seed"],"sectors":["SaaS / Vertical SaaS","AI / ML","Cybersecurity"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Not disclosed"},"leadFollow":"Both","province":["NB","NS","NL","PE"],"hq":{"city":"Saint John","region":"NB"},"languages":["EN"],"founded":2011,"fundSize":null,"activity":"Selectif","lastDealDate":"2024-12-18","website":"https://eastvalleyventures.com/","linkedinURL":"https://ca.linkedin.com/company/east-valley-ventures","logo":"/assets/vc-logos/east-valley-ventures.png?v=4","logoBgColor":"#2C6E63","thesis":{"en":"East Valley Ventures is a Saint John angel and accelerator group founded in 2011, co-founded by Gerry Pond and tied to Mariner Partners. It takes equity in Atlantic Canadian founders across information technology, media and information services, anchoring Pre-seed and Seed rounds and mentoring operators. As of December 2024 it had backed 62 companies with 15 acquisitions, including Clarity, Tutela and gShift. Notable holdings include Beauceron Security, with recent participation in Retellio and QuickFacts.","fr":"East Valley Ventures est un groupe d'anges et d'accélération de Saint John fondé en 2011, cofondé par Gerry Pond et lié à Mariner Partners. Il prend des participations dans des fondateurs du Canada atlantique en technologies de l'information, médias et services d'information, en ancrant des rondes Pre-seed et Seed et en accompagnant les opérateurs. En décembre 2024, il avait soutenu 62 entreprises avec 15 acquisitions, dont Clarity, Tutela et gShift. Les participations notables comprennent Beauceron Security, avec une participation récente dans Retellio et QuickFacts."},"tagline":{"en":"Saint John's Atlantic early-stage angel and accelerator","fr":"L'ange et accélérateur early-stage atlantique de Saint John"},"valueAdd":{"en":["Atlantic Canada operator mentorship","62 companies, 15 acquisitions since 2011","Mariner Partners ties","Pre-seed and Seed anchoring"],"fr":["Mentorat d'opérateurs du Canada atlantique","62 entreprises, 15 acquisitions depuis 2011","Liens avec Mariner Partners","Ancrage Pre-seed et Seed"]},"followOnNarrative":{"en":"","fr":""},"keyQuestions":{"en":[],"fr":[]},"coInvestors":[{"name":"Sandpiper Ventures","slug":"sandpiper-ventures"},{"name":"Killick Capital","slug":"killick-capital"},{"name":"NBIF","slug":"nbif"}],"people":[],"portfolio":[{"name":"Beauceron Security","sector":"Cybersecurity","stage":"Seed","year":null},{"name":"Retellio","sector":"AI / ML","stage":"Seed","year":2024},{"name":"QuickFacts","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2024}],"verifiedSource":"https://eastvalleyventures.com/about/","lastVerifiedAt":"2026-06-29","editorialLevel":"Long tail (light)"},{"id":"rec32","slug":"killick-capital","name":"Killick Capital","type":"PE","conviction":"tech-actif","stages":["Pre-seed","Seed","Series A"],"sectors":["SaaS / Vertical SaaS","AI / ML","Healthtech / Biotech","Deeptech / Hardware","Climate / Energy"],"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). 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":"Atlantic Canada's anchor investor across venture, aerospace and Newfoundland & Labrador.","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, CPA, CBV","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":2019},{"name":"Avalon Holographics","sector":"Deeptech / Hardware","stage":"Seed","year":2019},{"name":"BreatheSuite","sector":"Healthtech / Biotech","stage":"Seed","year":null}],"verifiedSource":"https://killickcapital.com/portfolio/","lastVerifiedAt":"2026-06-06","editorialLevel":"Top 30 (full)"},{"id":"rec33","slug":"active-impact-investments","name":"Active Impact Investments","type":"VC","conviction":"pure-play","stages":["Pre-seed","Seed","Series A"],"sectors":["Climate / Energy"],"ticket":{"min":1000000,"max":4000000,"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":"2026-03-31","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 Corporate Venture Capital Fund","slug":"co-operators-corporate-venture-capital-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":"General Partner","linkedinURL":"","initials":"TB","avatarBgColor":"#1D9E75"},{"fullName":"Sam Hasty","role":"Partner","linkedinURL":"","initials":"SH","avatarBgColor":"#A32D2D"},{"fullName":"Sophie Seston","role":"Partner","linkedinURL":"","initials":"SS","avatarBgColor":"#712B13"},{"fullName":"Isabel Baker","role":"Associate","linkedinURL":"","initials":"IB","avatarBgColor":"#0EA5E9"},{"fullName":"Qhalisa Khan","role":"Venture Scout","linkedinURL":"","initials":"QK","avatarBgColor":"#F59E0B"}],"portfolio":[{"name":"Jetson","sector":"Climate / Energy","stage":"Series A","year":2026},{"name":"ThinkLabs AI","sector":"AI / ML","stage":"Series A","year":2026},{"name":"Maia Farms","sector":"Climate / Energy","stage":"Seed","year":2026},{"name":"Hyfluence","sector":"Climate / Energy","stage":"Seed","year":null},{"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}],"verifiedSource":"https://www.activeimpactinvestments.com/team","lastVerifiedAt":"2026-06-03","editorialLevel":"Top 30 (full)"},{"id":"rec34","slug":"developer-capital-devcap","name":"Developer Capital (DevCap)","type":"VC","conviction":"pure-play","stages":["Pre-seed","Seed"],"sectors":["AI / ML"],"ticket":{"min":100000,"max":400000,"currency":"CAD","label":""},"leadFollow":"Both","province":["QC","ON","OTHER"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2023,"fundSize":{"value":5,"currency":"CAD","vintage":2026},"activity":"Selectif","lastDealDate":"2026-01-06","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, sponsored by software consultancy Monadical, that backs pre-seed and seed-stage AI startups across North America and Europe. It pairs cheques of $100K to $400K with hands-on access to Monadical's 30-plus developer team, has backed about 10 companies (including Rithmik, Unified.to, Backboard.io, Mycroft and Glowtify), and closed an additional $5M at $0.15 per share in May 2026 as it eyes a public listing by 2028.","fr":"Developer Capital (DevCap) est une societe d'investissement evergreen montrealaise, soutenue par la firme logicielle Monadical, qui finance des startups d'IA en pre-amorcage et amorcage en Amerique du Nord et en Europe. Elle combine des cheques de 100 a 400 K$ avec un acces concret a l'equipe de plus de 30 developpeurs de Monadical, a soutenu une dizaine de societes (dont Rithmik, Unified.to, Backboard.io, Mycroft et Glowtify) et a cloture 5 M$ additionnels a 0,15 $ l'action en mai 2026, visant une cotation en bourse d'ici 2028."},"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":"https://www.linkedin.com/in/jordan-steiner-a7874856/","initials":"JS","avatarBgColor":"#534AB7"},{"fullName":"Max McCrea","role":"Co-Founder & CTO","linkedinURL":"https://maxmccrea.com/","initials":"MM","avatarBgColor":"#1D9E75"}],"portfolio":[{"name":"Rithmik Solutions","sector":"Deeptech / Hardware","stage":"Seed","year":2024},{"name":"Unified.to","sector":"Devtools / Infra","stage":"Seed","year":2024},{"name":"Backboard.io","sector":"AI / ML","stage":"Pre-seed","year":2026},{"name":"Mycroft","sector":"Cybersecurity","stage":"Seed","year":2025},{"name":"Glowtify","sector":"Marketplace / Consumer","stage":"Seed","year":2025},{"name":"EdgeScale AI","sector":"AI / ML","stage":"2025","year":null}],"verifiedSource":"https://www.devcap.ai","lastVerifiedAt":"2026-06-29","editorialLevel":"Long tail (light)"},{"id":"rec35","slug":"inovia-capital","name":"Inovia Capital","type":"VC","conviction":"tech-actif","stages":["Seed","Series A","Series B+"],"sectors":["SaaS / Vertical SaaS","AI / ML","Fintech / Insurtech","Devtools / Infra","Cybersecurity","Healthtech / Biotech","Marketplace / Consumer"],"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":420,"currency":"CAD","vintage":2022},"activity":"Tres actif","lastDealDate":"2026-05-12","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":"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":"Magaly Charbonneau","role":"Partner","linkedinURL":"","initials":"MC","avatarBgColor":"#712B13"},{"fullName":"Patrick Pichette","role":"Partner","linkedinURL":"","initials":"PP","avatarBgColor":"#0EA5E9"},{"fullName":"Shawn Abbott","role":"Partner","linkedinURL":"","initials":"SA","avatarBgColor":"#F59E0B"},{"fullName":"Kory Jeffrey","role":"Partner","linkedinURL":"","initials":"KJ","avatarBgColor":"#EC4899"},{"fullName":"Taha Mubashir","role":"Partner","linkedinURL":"","initials":"TM","avatarBgColor":"#14B8A6"}],"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}],"verifiedSource":"https://www.inovia.vc/about/","lastVerifiedAt":"2026-06-02","editorialLevel":"Top 30 (full)"},{"id":"rec36","slug":"garage-capital","name":"Garage Capital","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed","Series A"],"sectors":["SaaS / Vertical SaaS","AI / ML","Devtools / Infra","Deeptech / Hardware","Fintech / Insurtech"],"ticket":{"min":250000,"max":1500000,"currency":"CAD","label":"$250K-$1.5M"},"leadFollow":"Both","province":["ON","QC","BC","OTHER"],"hq":{"city":"Waterloo","region":"ON"},"languages":["EN"],"founded":2013,"fundSize":null,"activity":"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":"Founders turned investors backing technical teams","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":"Golden Ventures","slug":"golden-ventures"},{"name":"Y Combinator","slug":"y-combinator"}],"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":"Faire","sector":"Marketplace / Consumer","stage":"Seed","year":2017},{"name":"ApplyBoard","sector":"Marketplace / Consumer","stage":"Series C","year":2020},{"name":"Groq","sector":"Deeptech / Hardware","stage":"Seed","year":2017},{"name":"Jetson","sector":"Climate / Energy","stage":"Seed","year":2024},{"name":"Upside Robotics","sector":"Deeptech / Hardware","stage":"Seed","year":2026},{"name":"Dominion Dynamics","sector":"Deeptech / Hardware","stage":"Seed","year":2025},{"name":"Backboard","sector":"AI / ML","stage":"Seed","year":2026}],"verifiedSource":"https://www.garage.vc/","lastVerifiedAt":"2026-06-02","editorialLevel":"Long tail (light)"},{"id":"rec37","slug":"idealist-capital","name":"Idealist Capital","type":"PE","conviction":"pure-play","stages":["Series B+"],"sectors":["Climate / Energy"],"ticket":{"min":25000000,"max":75000000,"currency":"CAD","label":""},"leadFollow":"Lead","province":["QC","OTHER"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2022,"fundSize":{"value":250,"currency":"CAD","vintage":2022},"activity":"Actif","lastDealDate":"2026-03-25","website":"https://idealist.capital/","linkedinURL":"https://ca.linkedin.com/company/idealist-capital","logo":"/assets/vc-logos/idealist-capital.png?v=4","logoBgColor":"#EC4899","thesis":{"en":"Idealist Capital is a Montreal growth-stage private equity firm managing the Idealist Climate Impact Fund LP, a closed-end institutional fund that makes direct, lead equity investments in companies accelerating the transition to a resilient, low-carbon economy. Its three core themes are decarbonization of power supply, electrification of transportation, and decarbonization of industrials and the circular economy. Founders engage Idealist directly when raising large growth rounds: the fund writes cheques of roughly $25M to $75M CAD into commercialization and scale-up stage businesses with proven, non-binary technology and clear commercial traction, and it typically leads or anchors the round. It is a dual-mandate fund seeking strong risk-adjusted returns while underwriting measurable carbon impact, not an evergreen family holding. Beyond capital it takes an active partnership role on operations, governance and value creation. Companies at pre-seed or seed stage are out of scope; this is a fit for scaling businesses, primarily in Canada (with Quebec emphasis) and selectively the broader United States and North America.","fr":"Idealist Capital est une firme de private equity de croissance montrealaise qui gere l'Idealist Climate Impact Fund LP, un fonds institutionnel a capital fixe realisant des investissements directs et meneurs dans des entreprises qui accelerent la transition vers une economie resiliente et bas-carbone. Ses trois themes: la decarbonation de l'approvisionnement en energie, l'electrification des transports, et la decarbonation des industriels et l'economie circulaire. Les fondateurs l'engagent directement pour de grands tours de croissance: le fonds emet des cheques d'environ 25 a 75 M$ CA dans des entreprises au stade de commercialisation et de mise a l'echelle, a la technologie prouvee et non binaire et a la traction commerciale claire, et mene ou ancre typiquement le tour. C'est un fonds a double mandat visant de solides rendements ajustes au risque tout en sous-tendant un impact carbone mesurable, pas un holding familial evergreen. Au-dela du capital, il joue un role de partenaire actif sur les operations, la gouvernance et la creation de valeur. Les entreprises en pre-amorcage ou amorcage sont hors perimetre; c'est un fit pour des entreprises en croissance, surtout au Canada (accent Quebec) et selectivement aux Etats-Unis et en Amerique du Nord."},"tagline":{"en":"Growth capital for the energy transition.","fr":"Capital de croissance pour la transition energetique."},"valueAdd":{"en":["Large lead cheques of $25M to $75M CAD, rare for a Quebec climate-focused manager","Institutional LP base spanning Desjardins, Investissement Quebec, Fondaction, TD, National Bank and the federal Canada Growth Fund (its first cleantech fund backing)","Founding partners with deep operating pedigree (Power Sustainable renewables, Bombardier, Lion Electric, Lumenpulse)","Underwrites carbon impact and tracks non-financial KPIs as part of asset management, not as marketing","Hands-on value creation on operations, governance and capital markets while giving founders autonomy to lead"],"fr":["Gros cheques meneurs de 25 a 75 M$ CA, rares pour un gestionnaire quebecois axe climat","Base de LP institutionnels couvrant Desjardins, Investissement Quebec, Fondaction, TD, Banque Nationale et le Fonds de croissance du Canada (son premier soutien a un fonds cleantech)","Associes fondateurs au pedigree operationnel profond (Power Sustainable renouvelables, Bombardier, Lion Electric, Lumenpulse)","Sous-tend l'impact carbone et suit des KPI non financiers dans la gestion d'actifs, pas comme du marketing","Creation de valeur concrete sur les operations, la gouvernance et les marches de capitaux, tout en laissant aux fondateurs l'autonomie de diriger"]},"followOnNarrative":{"en":"Idealist goes beyond capital, taking an active role in strengthening operational foundations, governance and risk management while leaving founders the autonomy to run their companies. Its philosophy is to help businesses do more with less through resource efficiency, productivity and cost discipline, drawing on a deep network of energy and renewables advisors. The partners bring board-level operating experience to help portfolio companies scale into industry leaders.","fr":"Idealist va au-dela du capital, en prenant un role actif pour renforcer les fondations operationnelles, la gouvernance et la gestion des risques, tout en laissant aux fondateurs l'autonomie de diriger leurs entreprises. Sa philosophie est d'aider les entreprises a faire plus avec moins via l'efficacite des ressources, la productivite et la discipline des couts, en s'appuyant sur un reseau profond de conseillers en energie et renouvelables. Les associes apportent une experience operationnelle au niveau du conseil pour aider les societes du portefeuille a devenir des leaders de leur industrie."},"keyQuestions":{"en":["Are you at commercialization or scale-up stage with proven, de-risked technology and real commercial traction (not binary tech risk)?","Does your business sit in one of the three themes (decarbonization of power, electrification of transport, or decarbonization of industry / circular economy) with measurable, underwritable carbon impact?","Are you raising a growth round large enough to absorb a $25M to $75M lead cheque, and are you open to an active value-creation partner on operations and governance?"],"fr":["Etes-vous au stade de commercialisation ou de mise a l'echelle, avec une technologie prouvee et de-risquee et une traction commerciale reelle (pas de risque technologique binaire)?","Votre entreprise s'inscrit-elle dans l'un des trois themes (decarbonation de l'energie, electrification des transports, ou decarbonation de l'industrie / economie circulaire) avec un impact carbone mesurable et sous-tendable?","Levez-vous un tour de croissance assez important pour absorber un cheque meneur de 25 a 75 M$ CA, et etes-vous ouvert a un partenaire de creation de valeur actif sur les operations et la gouvernance?"]},"coInvestors":[{"name":"Canada Growth Fund","slug":"canada-growth-fund"},{"name":"Real Ventures","slug":"real-ventures"},{"name":"Sanimax","slug":"sanimax"},{"name":"Fondaction","slug":"fondaction"},{"name":"Desjardins","slug":"desjardins"},{"name":"Investissement Quebec","slug":"investissement-quebec"},{"name":"TD Bank","slug":"td-bank"},{"name":"National Bank of Canada","slug":"national-bank-of-canada"}],"people":[{"fullName":"Pierre Larochelle","role":"Co-Managing Partner","linkedinURL":"https://www.linkedin.com/in/pierre-larochelle-787a8323b/","initials":"PL","avatarBgColor":"#534AB7"},{"fullName":"Steeve Robitaille","role":"Co-Managing Partner","linkedinURL":"https://ca.linkedin.com/in/steeverobitaille","initials":"SR","avatarBgColor":"#1D9E75"},{"fullName":"Francois Boudreault","role":"Partner","linkedinURL":"","initials":"FB","avatarBgColor":"#A32D2D"},{"fullName":"Nicolas Brunet","role":"Partner","linkedinURL":"","initials":"NB","avatarBgColor":"#712B13"},{"fullName":"Leslie Raenden","role":"Partner and Chief Financial Officer","linkedinURL":"","initials":"LR","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"Disruptive Packaging","sector":"Climate / Energy","stage":"Growth","year":2026},{"name":"Solugen Global","sector":"Climate / Energy","stage":"Growth","year":2026},{"name":"Mechasys","sector":"Climate / Energy","stage":"Growth","year":2025},{"name":"dcbel","sector":"Climate / Energy","stage":"Series B","year":2023},{"name":"Entosystem","sector":"Climate / Energy","stage":"Growth","year":2024},{"name":"Mosaic","sector":"Climate / Energy","stage":"Growth","year":2024},{"name":"Parity","sector":"Climate / Energy","stage":"Growth","year":2024},{"name":"Spark Microsystems","sector":"Deeptech / Hardware","stage":"Series B","year":2023},{"name":"XNRGY Climate Systems","sector":"Climate / Energy","stage":"Growth","year":2023},{"name":"Sollum Technologies","sector":"Climate / Energy","stage":"Growth","year":2022}],"verifiedSource":"https://idealist.capital/","lastVerifiedAt":"2026-07-02","editorialLevel":""},{"id":"rec38","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":null,"max":2000000,"currency":"CAD","label":"$500k to $2M CAD"},"leadFollow":"Lead","province":["ON"],"hq":{"city":"Ottawa","region":"ON"},"languages":["EN"],"founded":2012,"fundSize":{"value":75,"currency":"CAD","vintage":2026},"activity":"Tres 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":"Pre-seed and seed VC backing AI for the enterprise across Canada and the US","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":"HarbourVest","slug":"harbourvest"},{"name":"Venture Ontario","slug":"venture-ontario"},{"name":"Scotiabank","slug":"scotiabank"},{"name":"Garage Capital","slug":"garage-capital"}],"people":[{"fullName":"Code Cubitt","role":"Co-Founder & Managing Director","linkedinURL":"https://www.linkedin.com/in/codecubitt/","initials":"CC","avatarBgColor":"#534AB7"},{"fullName":"Bernie Zeisig","role":"Co-Founder & Managing Partner","linkedinURL":"https://www.linkedin.com/in/bernie-zeisig-a4206124/","initials":"BZ","avatarBgColor":"#1D9E75"},{"fullName":"Mike Scanlin","role":"Co-Founder & Venture Partner","linkedinURL":"https://www.linkedin.com/in/mikescanlin/","initials":"MS","avatarBgColor":"#A32D2D"},{"fullName":"Pablo Srugo","role":"Partner","linkedinURL":"https://www.linkedin.com/in/pablosrugo/","initials":"PS","avatarBgColor":"#712B13"},{"fullName":"Raif Barbaros","role":"Partner","linkedinURL":"","initials":"RB","avatarBgColor":"#0EA5E9"},{"fullName":"Julien Kathiresan","role":"Head of Finance & Operations","linkedinURL":"","initials":"JK","avatarBgColor":"#F59E0B"}],"portfolio":[{"name":"Cohere","sector":"AI / ML","stage":"Seed","year":null},{"name":"Blue J Legal","sector":"AI / ML","stage":"Seed","year":null},{"name":"Rewind","sector":"SaaS / Vertical SaaS","stage":"Seed","year":null},{"name":"Frugal","sector":"Fintech / Insurtech","stage":"Seed","year":2025},{"name":"Backboard","sector":"AI / ML","stage":"Pre-seed","year":2025}],"verifiedSource":"https://www.mistral.vc/","lastVerifiedAt":"2026-06-02","editorialLevel":"Top 30 (full)"},{"id":"rec39","slug":"seido-capital-anciennement-theodorus","name":"Seido Capital (anciennement Theodorus)","type":"VC","conviction":"pure-play","stages":["Pre-seed","Seed","Series A"],"sectors":["Healthtech / Biotech","AI / ML"],"ticket":{"min":500000,"max":2500000,"currency":"CAD","label":""},"leadFollow":"Both","province":["QC","ON","BC","AB"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2003,"fundSize":{"value":45,"currency":"CAD","vintage":2024},"activity":"Actif","lastDealDate":"2026-02-10","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 HQ to Montreal, exiting European investing to focus on North American life sciences. It invests early stage (pre-seed to Series A) at the convergence of AI, software and biopharma, with first cheques of $0.5M to $2.5M. Fund V reached a first close of about $45M CAD in November 2024 toward a $70M target, with roughly 80% earmarked for Canadian companies and 20% for the US.","fr":"Seido Capital, anciennement le belge Theodorus (fonde en 2003), a rebrande et relocalise son siege a Montreal, abandonnant l'investissement europeen pour se concentrer sur les sciences de la vie nord-americaines. Le fonds investit en amorcage (du pre-seed a la Serie A) a la convergence de l'IA, du logiciel et de la biopharma, avec des premiers cheques de 0,5 a 2,5 M$. Le Fund V a realise un premier closing d'environ 45 M$ CAD en novembre 2024 vers une cible de 70 M$, dont environ 80 % reserve aux entreprises canadiennes et 20 % aux Etats-Unis."},"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":[{"name":"Investissement Quebec","slug":"investissement-quebec"},{"name":"Fonds de solidarite FTQ","slug":"fonds-de-solidarite-ftq"},{"name":"Fonds d'investissement Eureka","slug":"fonds-d-investissement-eureka"},{"name":"Amplitude Ventures","slug":"amplitude-ventures"},{"name":"Sectoral Asset Management","slug":"sectoral-asset-management"},{"name":"Genesys Capital","slug":"genesys-capital"},{"name":"Desjardins Capital","slug":"desjardins-capital"},{"name":"Anges Quebec","slug":"anges-quebec"},{"name":"Front Row Ventures","slug":"front-row-ventures"},{"name":"CTI Life Sciences","slug":"cti-life-sciences"}],"people":[{"fullName":"Olivier Belenger","role":"Managing Partner","linkedinURL":"","initials":"OB","avatarBgColor":"#534AB7"},{"fullName":"Theo Risopoulos","role":"General Partner","linkedinURL":"","initials":"TR","avatarBgColor":"#1D9E75"},{"fullName":"Patricia Escoffier","role":"Principal","linkedinURL":"","initials":"PE","avatarBgColor":"#A32D2D"},{"fullName":"Gabrielle Girouard","role":"Investment Analyst","linkedinURL":"","initials":"GG","avatarBgColor":"#712B13"},{"fullName":"Alexy L. Ouellette","role":"VP Finance and Operations","linkedinURL":"","initials":"AL","avatarBgColor":"#0EA5E9"},{"fullName":"Charles Pearson","role":"Capital Formation Analyst","linkedinURL":"","initials":"CP","avatarBgColor":"#F59E0B"}],"portfolio":[{"name":"Simmunome","sector":"Healthtech / Biotech","stage":"Pre-seed","year":2023},{"name":"Reverb Therapeutics","sector":"Healthtech / Biotech","stage":"Seed","year":2025},{"name":"Innospera Pharma","sector":"Healthtech / Biotech","stage":"Seed","year":2025},{"name":"Antegrade Medical","sector":"Healthtech / Biotech","stage":"Seed","year":2025},{"name":"Kainova Therapeutics","sector":"Healthtech / Biotech","stage":"Series B","year":2026}],"verifiedSource":"https://www.seidocapital.com","lastVerifiedAt":"2026-07-02","editorialLevel":"Long tail (light)"},{"id":"rec40","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","Marketplace / Consumer"],"ticket":{"min":500000,"max":3000000,"currency":"CAD","label":"$500k to $3M CAD"},"leadFollow":"Lead","province":["SK","MB"],"hq":{"city":"Regina","region":"SK"},"languages":["EN"],"founded":2019,"fundSize":{"value":30,"currency":"CAD","vintage":2024},"activity":"Selectif","lastDealDate":"2025-11-13","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 early-stage general technology fund founded by Conexus Credit Union, backing high-growth tech founders across Saskatchewan and the Prairies. Fund #1 ($32M, 2019 vintage) is fully deployed; Fund #2 ($30M, 2024 vintage, oversubscribed December 2025) invests pre-seed to seed in Saskatchewan technology, with Conexus seeding the first $15M.","fr":"Fonds régional des Prairies adossé à Conexus Credit Union, basé à Regina. L'équipe soutient des fondateurs early-stage en technologies générales à travers la Saskatchewan et les Prairies canadiennes. Approche généraliste avec un ancrage régional fort et des tickets du pre-seed à la Série A. Le Fonds II a clôturé fin 2025 à 30 M$, après un Fonds I de 32 M$ (millésime 2019)."},"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":"Inverted Ventures","slug":"inverted-ventures"},{"name":"Local Investing YYC","slug":"local-investing-yyc"},{"name":"NW Angel Fund","slug":"nw-angel-fund"}],"people":[{"fullName":"Jordan McFarlen","role":"Managing Director","linkedinURL":"","initials":"JM","avatarBgColor":"#534AB7"},{"fullName":"Alex Shimla","role":"Principal","linkedinURL":"","initials":"AS","avatarBgColor":"#1D9E75"},{"fullName":"Gabrielle Schubach, CPA","role":"Manager, VC Finance & Operations","linkedinURL":"","initials":"GS","avatarBgColor":"#A32D2D"}],"portfolio":[{"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":"Taiv","sector":"Marketplace / Consumer","stage":"Seed","year":null},{"name":"7shifts","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2019},{"name":"Coconut Software","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2019}],"verifiedSource":"https://www.conexusventurecapital.ca/about-us/our-companies/","lastVerifiedAt":"2026-06-10","editorialLevel":"Long tail (light)"},{"id":"rec41","slug":"amiral-ventures","name":"Amiral Ventures","type":"VC","conviction":"tech-actif","stages":["Seed","Series A"],"sectors":["SaaS / Vertical SaaS","AI / ML","Climate / Energy"],"ticket":{"min":1000000,"max":2000000,"currency":"CAD","label":"$500k to $3M CAD"},"leadFollow":"Lead","province":["QC","ON","OTHER"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2022,"fundSize":{"value":40,"currency":"CAD","vintage":2025},"activity":"Actif","lastDealDate":"2026-05-06","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 late-seed and Series A startups in applied AI, productivity software, deep tech and the energy transition, leading rounds with a $40M first close (target $75M).","fr":"Amiral Ventures est un fonds montrealais d'amorcage dirige par des fondateurs en serie, cree pour repondre au manque d'investisseurs meneurs dans le capital de risque canadien. Le fonds soutient des startups de fin d'amorcage et de serie A en IA appliquee, logiciel de productivite, deeptech et transition energetique, et mene des tours avec un premier close de 40 M$ (cible de 75 M$)."},"tagline":{"en":"Founder-led capital for Canada's next technology flagships.","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":"Dominic Becotte","role":"Managing Partner","linkedinURL":"","initials":"DB","avatarBgColor":"#534AB7"},{"fullName":"Frederic Bastien","role":"Managing Partner","linkedinURL":"","initials":"FB","avatarBgColor":"#1D9E75"},{"fullName":"Nectarios Economakis","role":"Partner","linkedinURL":"","initials":"NE","avatarBgColor":"#A32D2D"},{"fullName":"Julie Lacasse","role":"Venture Partner","linkedinURL":"","initials":"JL","avatarBgColor":"#712B13"}],"portfolio":[{"name":"Boost Security","sector":"AI / ML","stage":"Seed","year":2026},{"name":"Maket","sector":"AI / ML","stage":"Seed","year":2025},{"name":"Maxa","sector":"SaaS / Vertical SaaS","stage":"Series A","year":2024}],"verifiedSource":"https://betakit.com/amiral-ventures-holds-40-million-first-close-to-address-lack-of-leadership-in-canadian-vc/","lastVerifiedAt":"2026-07-02","editorialLevel":"Long tail (light)"},{"id":"rec42","slug":"rhino-ventures","name":"Rhino Ventures","type":"VC","conviction":"tech-actif","stages":["Seed","Series A","Series B+"],"sectors":["Healthtech / Biotech","Fintech / Insurtech","SaaS / Vertical SaaS"],"ticket":{"min":2000000,"max":20000000,"currency":"CAD","label":"$500K-$5M"},"leadFollow":"Lead","province":["BC"],"hq":{"city":"Vancouver","region":"BC"},"languages":["EN"],"founded":2015,"fundSize":{"value":120,"currency":"CAD","vintage":2021},"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 firm formerly Vancouver Founder Fund (rebranded Rhino in 2019). Built its reputation as a generalist early-stage VC, leading pre-seed to Series A rounds in Western Canada and backing Thinkific, FISPAN, Klue and Article. Fund III closed November 2021 at $120M CAD (oversubscribed). The firm now positions itself around building, acquiring and scaling platforms in healthcare, finance and enterprise services.","fr":"Societe vancouveroise anciennement Vancouver Founder Fund (rebaptisee Rhino en 2019). Reputee comme VC early-stage generaliste, menant des tours du pre-seed a la Serie A dans l'Ouest canadien et soutenant Thinkific, FISPAN, Klue et Article. Le Fonds III a cloture en novembre 2021 a 120 M$ CA (sursouscription). La firme se positionne desormais autour de la construction, l'acquisition et la mise a l'echelle de plateformes en sante, finance et services aux entreprises."},"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://ca.linkedin.com/in/fraser-hall-b9a65b1b7","initials":"FH","avatarBgColor":"#534AB7"},{"fullName":"Jay Rhind","role":"Partner","linkedinURL":"https://www.linkedin.com/in/jayrhind/","initials":"JR","avatarBgColor":"#1D9E75"},{"fullName":"Mitch Richardson","role":"Investor","linkedinURL":"https://ca.linkedin.com/in/mitchell-j-richardson","initials":"MR","avatarBgColor":"#A32D2D"},{"fullName":"Nicholas Hyldelund","role":"Investor","linkedinURL":"https://www.linkedin.com/in/nicholas-hyldelund/","initials":"NH","avatarBgColor":"#712B13"}],"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}],"verifiedSource":"https://rhinovc.com/team","lastVerifiedAt":"2026-06-10","editorialLevel":"Long tail (light)"},{"id":"rec43","slug":"ripple-ventures","name":"Ripple Ventures","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed"],"sectors":["AI / ML","Climate / Energy","Cybersecurity","Fintech / Insurtech","Healthtech / Biotech","Devtools / Infra","SaaS / Vertical SaaS"],"ticket":{"min":340000,"max":1020000,"currency":"CAD","label":"$250k to $750k CAD"},"leadFollow":"Lead","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2018,"fundSize":null,"activity":"Actif","lastDealDate":"2026-02-02","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","linkedinURL":"https://www.linkedin.com/in/hellokatieko/","initials":"KK","avatarBgColor":"#A32D2D"},{"fullName":"Jay Lee","role":"Head of Platform","linkedinURL":"https://www.linkedin.com/in/jayleeio/","initials":"JL","avatarBgColor":"#712B13"}],"portfolio":[{"name":"Transformer Lab","sector":"Devtools / Infra","stage":"Pre-seed","year":2026},{"name":"Mycroft","sector":"Cybersecurity","stage":"Seed","year":2025},{"name":"Page","sector":"SaaS / Vertical SaaS","stage":"Pre-seed","year":2024},{"name":"Asepha","sector":"Healthtech / Biotech","stage":"Pre-seed","year":2023},{"name":"Theo AI","sector":"AI / ML","stage":"Pre-seed","year":2024},{"name":"Cimba","sector":"AI / ML","stage":"Pre-seed","year":2024}],"verifiedSource":"https://www.rippleventures.com/team","lastVerifiedAt":"2026-06-10","editorialLevel":"Long tail (light)"},{"id":"rec44","slug":"n49p","name":"N49P","type":"VC","conviction":"tech-actif","stages":["Pre-seed"],"sectors":["SaaS / Vertical SaaS","AI / ML","Fintech / Insurtech","Healthtech / Biotech","Devtools / Infra","Marketplace / Consumer"],"ticket":{"min":500000,"max":1500000,"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":"2026-05-21","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":"Staircase Ventures","slug":"staircase-ventures"},{"name":"Relay Ventures","slug":"relay-ventures"},{"name":"Alate Partners","slug":"alate-partners"}],"people":[{"fullName":"Alex Norman","role":"Partner","linkedinURL":"https://www.linkedin.com/in/alexanderlnorman/","initials":"AN","avatarBgColor":"#534AB7"},{"fullName":"Doug Penick","role":"Partner","linkedinURL":"","initials":"DP","avatarBgColor":"#1D9E75"},{"fullName":"Omar Dhalla","role":"Partner","linkedinURL":"https://www.linkedin.com/in/omardhalla/","initials":"OD","avatarBgColor":"#A32D2D"},{"fullName":"Prem Kalevar","role":"Venture Partner","linkedinURL":"","initials":"PK","avatarBgColor":"#712B13"}],"portfolio":[{"name":"HyperComply","sector":"Cybersecurity","stage":"Pre-seed","year":null},{"name":"Mave","sector":"AI / ML","stage":"Pre-seed","year":2026},{"name":"Backboard","sector":"AI / ML","stage":"Pre-seed","year":2026},{"name":"Remitian","sector":"Fintech / Insurtech","stage":"Pre-seed","year":2026},{"name":"Maneva","sector":"AI / ML","stage":"Pre-seed","year":null},{"name":"EvenUp","sector":"AI / ML","stage":"Pre-seed","year":null},{"name":"Spellbook","sector":"AI / ML","stage":"Pre-seed","year":null},{"name":"Quandri","sector":"AI / ML","stage":"Pre-seed","year":null}],"verifiedSource":"https://www.n49p.com/portfolio","lastVerifiedAt":"2026-06-05","editorialLevel":"Top 30 (full)"},{"id":"rec45","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":180,"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}],"verifiedSource":"https://realventures.com/team/","lastVerifiedAt":"2026-06-02","editorialLevel":"Long tail (light)"},{"id":"rec46","slug":"svg-ventures-thrive","name":"SVG Ventures | Thrive","type":"VC","conviction":"pure-play","stages":["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":null,"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. Canadian arm launched in Calgary in 2021, backed by the Opportunity Calgary Investment Fund, Alberta Innovates and the Government of Alberta. Its third fund, the Pioneer Fund (Seed to Series A agrifood), is anchored by Farm Credit Canada with a CAD$75M target and was still raising as of late 2025 (Manitoba First Fund joined as LP in December 2025). A separate US$50M Sunrise Fund is run with Japan's Kagome.","fr":"VC et accelerateur agrifood mondial, avec une filiale canadienne etablie a Calgary depuis 2021 grace a 2,5 M$ 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":"Founder & CEO","linkedinURL":"","initials":"JH","avatarBgColor":"#534AB7"},{"fullName":"Helen Hartnett","role":"Chief Operating Officer","linkedinURL":"","initials":"HH","avatarBgColor":"#1D9E75"},{"fullName":"John Cassidy","role":"Managing Director Canada","linkedinURL":"","initials":"JC","avatarBgColor":"#A32D2D"},{"fullName":"Danny O'Brien","role":"Managing Director EMEA & Global Programs","linkedinURL":"","initials":"DO","avatarBgColor":"#712B13"},{"fullName":"Greg Young","role":"Venture Partner","linkedinURL":"","initials":"GY","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"Cellar Insights","sector":"Climate / Energy","stage":"2026","year":null},{"name":"Brilliant Harvest","sector":"Climate / Energy","stage":"2025","year":null}],"verifiedSource":"https://betakit.com/cellar-insights-pockets-500000-investment-to-help-it-protect-potatoes/","lastVerifiedAt":"2026-06-11","editorialLevel":"Long tail (light)"},{"id":"rec47","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","ON","BC","OTHER"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":1999,"fundSize":{"value":100,"currency":"CAD","vintage":2024},"activity":"Actif","lastDealDate":"2026-01-15","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":"Co-Founder & 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","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":2023},{"name":"Forcen","sector":"Deeptech / Hardware","stage":"Series A","year":2024},{"name":"Jozu","sector":"Devtools / Infra","stage":"Seed","year":2025},{"name":"Mycroft","sector":"AI / ML","stage":"Seed","year":2025},{"name":"Optable","sector":"AI / ML","stage":"Series A","year":2023}],"verifiedSource":"https://brightspark.com/en","lastVerifiedAt":"2026-06-02","editorialLevel":"Top 30 (full)"},{"id":"rec48","slug":"luge-capital","name":"Luge Capital","type":"VC","conviction":"pure-play","stages":["Pre-seed","Seed","Series A"],"sectors":["Fintech / Insurtech","Cybersecurity"],"ticket":{"min":250000,"max":5000000,"currency":"CAD","label":"$250K to $5M CAD"},"leadFollow":"Lead","province":["QC","ON","OTHER"],"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":"Building fintech champions","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":"NAventures","slug":"naventures"},{"name":"Impression Ventures","slug":"impression-ventures"},{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"Panache Ventures","slug":"panache-ventures"},{"name":"Intact Ventures","slug":"intact-ventures"}],"people":[{"fullName":"David Nault","role":"Co-Founder & General Partner","linkedinURL":"https://www.linkedin.com/in/davidnault/","initials":"DN","avatarBgColor":"#534AB7"},{"fullName":"Karim Gillani","role":"Co-Founder & General Partner","linkedinURL":"https://www.linkedin.com/in/kgillani/","initials":"KG","avatarBgColor":"#1D9E75"},{"fullName":"Laviva Mazhar","role":"Principal","linkedinURL":"https://ca.linkedin.com/in/laviva-mazhar","initials":"LM","avatarBgColor":"#A32D2D"},{"fullName":"Chelsea Gillett","role":"Investor","linkedinURL":"","initials":"CG","avatarBgColor":"#712B13"},{"fullName":"Khrystyna Penyk","role":"Investment Associate","linkedinURL":"https://www.linkedin.com/in/khrystynapenyk/","initials":"KP","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"Owl.co","sector":"Fintech / Insurtech","stage":"Seed","year":2019},{"name":"Flinks","sector":"Fintech / Insurtech","stage":"Seed 2018 (exit Banque Nationale 2021)","year":null},{"name":"Cybrid","sector":"Fintech / Insurtech","stage":"Series A","year":2025},{"name":"OneVest","sector":"Fintech / Insurtech","stage":"Series B","year":2025},{"name":"Mycroft","sector":"Fintech / Insurtech","stage":"Seed","year":2025},{"name":"Velix","sector":"Fintech / Insurtech","stage":"Pre-seed","year":2026},{"name":"Plooto","sector":"Fintech / Insurtech","stage":"Series A","year":2021}],"verifiedSource":"https://www.luge.vc/team/","lastVerifiedAt":"2026-06-02","editorialLevel":"Long tail (light)"},{"id":"rec49","slug":"innovacorp","name":"Invest Nova Scotia (ex-Innovacorp)","type":"Public","conviction":"generaliste","stages":["Pre-seed","Seed"],"sectors":["Healthtech / Biotech","Climate / Energy","Deeptech / Hardware"],"ticket":{"min":100000,"max":1500000,"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":"Innovacorp (established 1995) was consolidated into Invest Nova Scotia in 2023. Its VC arm runs the Nova Scotia First Fund (NSFF), backing pre-seed and seed knowledge-based Nova Scotia startups. Its most recent disclosed deal was $500K into pHathom Technologies (coastal carbon capture) in February 2026, part of a $4M seed round led by Propeller Ventures.","fr":"Innovacorp (etabli en 1995) a ete consolide avec Nova Scotia Business Inc. au sein d'Invest Nova Scotia en 2023. L'activite VC se poursuit via le Nova Scotia First Fund (NSFF), qui emet des cheques pre-seed et seed dans des startups neo-ecossaises a forte composante savoir et recherche. Tres actif dans les Maritimes. Dernier deal divulgue : 500 K$ 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":"Lidija Marusic","role":"Vice President, Venture Capital","linkedinURL":"","initials":"LM","avatarBgColor":"#534AB7"},{"fullName":"Ben McDade","role":"Investment Director, Venture Capital","linkedinURL":"","initials":"BM","avatarBgColor":"#1D9E75"},{"fullName":"Jennifer Fuccillo","role":"Investment Director, Venture Capital","linkedinURL":"","initials":"JF","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"pHathom Technologies","sector":"Climate / Energy","stage":"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}],"verifiedSource":"https://investnovascotia.ca/news-and-stories/disclosures-venture-capital-investments-202526","lastVerifiedAt":"2026-06-11","editorialLevel":"Long tail (light)"},{"id":"rec50","slug":"dmz-ventures-fund","name":"DMZ Ventures Fund","type":"VC","conviction":"generaliste","stages":["Pre-seed","Seed"],"sectors":["SaaS / Vertical SaaS","AI / ML","Fintech / Insurtech","Devtools / Infra","Marketplace / Consumer"],"ticket":{"min":75000,"max":250000,"currency":"CAD","label":"$100k to $250k CAD"},"leadFollow":"Both","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2024,"fundSize":{"value":5,"currency":"CAD","vintage":2024},"activity":"Selectif","lastDealDate":"2025-06-25","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":"The for-profit investment arm of Toronto Metropolitan University, investing in pre-seed and seed B2B SaaS founders.","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":"Cascade Seed Fund","slug":"cascade-seed-fund"}],"people":[{"fullName":"Abdullah Snobar","role":"Executive Director, DMZ (CEO, DMZ Ventures)","linkedinURL":"https://ca.linkedin.com/in/abdullahsnobar","initials":"AS","avatarBgColor":"#534AB7"},{"fullName":"Sultan Mehrabi","role":"Managing Director","linkedinURL":"","initials":"SM","avatarBgColor":"#1D9E75"}],"portfolio":[{"name":"Leasey.AI","sector":"Marketplace / Consumer","stage":"Seed","year":2024},{"name":"Flowjin","sector":"AI / ML","stage":"Seed","year":2024},{"name":"Talin","sector":"AI / ML","stage":"Seed","year":2024},{"name":"Fibra","sector":"Fintech / Insurtech","stage":"Seed","year":2025},{"name":"Softdrive","sector":"Devtools / Infra","stage":"Seed","year":2024},{"name":"NextGen Sound","sector":"AI / ML","stage":"Seed","year":2025}],"verifiedSource":"https://dmz.torontomu.ca/","lastVerifiedAt":"2026-06-05","editorialLevel":"Top 30 (full)"},{"id":"rec51","slug":"sectoral-asset-management","name":"Sectoral Asset Management","type":"VC","conviction":"pure-play","stages":["Seed","Series A","Series B+"],"sectors":["Healthtech / Biotech"],"ticket":{"min":2000000,"max":10000000,"currency":"CAD","label":"$2M to $10M CAD"},"leadFollow":"Lead","province":["QC"],"hq":{"city":"Montreal","region":"QC"},"languages":["EN","FR"],"founded":2000,"fundSize":{"value":204,"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}],"verifiedSource":"https://www.sectoral.com/en/venture-capital/","lastVerifiedAt":"2026-06-02","editorialLevel":"Long tail (light)"},{"id":"rec52","slug":"round13-capital","name":"Round13 Capital","type":"VC","conviction":"tech-actif","stages":["Series A","Series B+"],"sectors":["SaaS / Vertical SaaS","Marketplace / Consumer","AI / ML"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Not disclosed"},"leadFollow":"Both","province":["ON","QC","BC","AB","NL","OTHER"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2013,"fundSize":{"value":200,"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. Its current fund (Fund III, first close $200M CAD in 2023, target $300M) targets Series B+ with cheques of $5M to $20M CAD as lead or co-lead. The platform also runs a separate digital-asset vehicle (US$70M). Founded in 2013 by Bruce Croxon (Lavalife, Dragons' Den) and John Eckert, Round13 brings operational rigor, governance discipline and international expansion expertise. The team is known for hands-on post-investment work on revenue, hiring and M&A.","fr":"Round13 Capital est un investisseur torontois en capital de croissance technologique, dédié aux entreprises canadiennes en logiciel et tech ayant déjà validé leur modèle d'affaires. Son fonds courant (Fonds III, premier closing de 200 M$ CA en 2023, cible 300 M$) vise la Série B+ avec des tickets de 5 à 20 M$ CA, en posture lead ou co-lead. La plateforme gère aussi un véhicule distinct dédié aux actifs numériques (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. L'équipe est connue pour son implication concrète post investissement (revenue, hiring, M&A)."},"tagline":{"en":"Canadian growth-stage tech investor","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":"Deloitte Ventures","slug":"deloitte-ventures"},{"name":"Radical Ventures","slug":"radical-ventures"},{"name":"Samsung Next","slug":"samsung-next"}],"people":[{"fullName":"Bruce Croxon","role":"Founding Partner","linkedinURL":"https://www.linkedin.com/in/brucecroxon/","initials":"BC","avatarBgColor":"#534AB7"},{"fullName":"John Eckert","role":"Founding Partner","linkedinURL":"https://www.linkedin.com/in/john-eckert-75280412/","initials":"JE","avatarBgColor":"#1D9E75"},{"fullName":"Brahm Klar","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/brahm-klar-b2251718","initials":"BK","avatarBgColor":"#A32D2D"},{"fullName":"Wilson Lee","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/wilsonjlee/","initials":"WL","avatarBgColor":"#712B13"},{"fullName":"Miranda Ferris","role":"Principal","linkedinURL":"","initials":"MF","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"Lightworks","sector":"AI / ML","stage":"Growth","year":2026},{"name":"CloudWerx","sector":"SaaS / Vertical SaaS","stage":"Growth","year":2025},{"name":"Apex Group Technologies","sector":"SaaS / Vertical SaaS","stage":"Growth","year":2025},{"name":"PocketHealth","sector":"Healthtech / Biotech","stage":"Series B","year":2024},{"name":"StackAdapt","sector":"SaaS / Vertical SaaS","stage":"Growth","year":2021},{"name":"Thinkific","sector":"SaaS / Vertical SaaS","stage":"Growth","year":2019},{"name":"TouchBistro","sector":"SaaS / Vertical SaaS","stage":"Growth","year":2018}],"verifiedSource":"https://round13.com/","lastVerifiedAt":"2026-06-02","editorialLevel":"Top 30 (full)"},{"id":"rec53","slug":"relay-ventures","name":"Relay Ventures","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed","Series A"],"sectors":["Fintech / Insurtech","Marketplace / Consumer","Deeptech / Hardware"],"ticket":{"min":1000000,"max":5000000,"currency":"CAD","label":"$1M to $5M CAD (pre-seed/seed)"},"leadFollow":"Both","province":["ON","QC","BC","AB","OTHER"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2008,"fundSize":null,"activity":"Selectif","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. Relay's current vehicle is its fifth fund (vintage 2022), backed by a senior partner team blending operator and investor backgrounds, with more than $550M CAD in cumulative assets under management. A long-term partner for founders digitizing cities, real estate and financial services.","fr":"VC torontois axé sur le early stage en Urbantech, Proptech, Fintech et Sportstech, à travers le Canada et les États Unis. Tickets de 5 à 30 M$ CAD, capable de mener ou de suivre, avec un partenariat structurant avec le Future of Sport Lab pour la verticale sportstech. Le véhicule courant de Relay est son cinquième fonds (millésime 2022), porté par une équipe de partenaires séniors aux profils opérateurs et investisseurs, avec plus de 550 M$ CAD d'actifs cumulés sous gestion. Un partenaire à long terme pour des fondateurs qui digitalisent les villes, l'immobilier et les services financiers."},"tagline":{"en":"First money, founder first early-stage investor","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":"BDC Capital","slug":"bdc-capital"},{"name":"Alate Partners","slug":"alate-partners"},{"name":"Graphite Ventures","slug":"graphite-ventures"},{"name":"Mistral Venture Partners","slug":"mistral-venture-partners"},{"name":"OMERS Ventures","slug":"omers-ventures"}],"people":[{"fullName":"Geoff Beattie","role":"Chairman","linkedinURL":"","initials":"GB","avatarBgColor":"#534AB7"},{"fullName":"John Albright","role":"Co-Founder & Managing Partner","linkedinURL":"https://ca.linkedin.com/in/johnlalbright","initials":"JA","avatarBgColor":"#1D9E75"},{"fullName":"Kevin Talbot","role":"Co-Founder & Managing Partner","linkedinURL":"https://www.linkedin.com/in/ketalbot/","initials":"KT","avatarBgColor":"#A32D2D"},{"fullName":"Alex Baker","role":"Managing Partner","linkedinURL":"https://ca.linkedin.com/in/alexbakertoronto","initials":"AB","avatarBgColor":"#712B13"},{"fullName":"Irfhan Rawji","role":"Managing Partner","linkedinURL":"","initials":"IR","avatarBgColor":"#0EA5E9"},{"fullName":"Horace Dediu","role":"Partner & Chief Market Strategist","linkedinURL":"","initials":"HD","avatarBgColor":"#F59E0B"},{"fullName":"Jeannette Wiltse","role":"Partner & CFO","linkedinURL":"https://www.linkedin.com/in/jeannettewiltse/","initials":"JW","avatarBgColor":"#EC4899"}],"portfolio":[{"name":"Mave","sector":"AI / ML","stage":"Seed","year":2026},{"name":"Ownright","sector":"Fintech / Insurtech","stage":"Seed","year":2024},{"name":"Trusty","sector":"SaaS / Vertical SaaS","stage":"Pre-seed","year":2025},{"name":"Promise Robotics","sector":"Deeptech / Hardware","stage":"Series A","year":2024},{"name":"VendorPM","sector":"Marketplace / Consumer","stage":"Series A","year":2022},{"name":"Swift Medical","sector":"Healthtech / Biotech","stage":"Series B+","year":2020},{"name":"7shifts","sector":"SaaS / Vertical SaaS","stage":"Series A","year":2019},{"name":"TouchBistro","sector":"SaaS / Vertical SaaS","stage":"Series A","year":2015}],"verifiedSource":"https://relay.vc/","lastVerifiedAt":"2026-06-02","editorialLevel":"Top 30 (full)"},{"id":"rec54","slug":"carrot-ventures","name":"Carrot Ventures","type":"VC","conviction":"pure-play","stages":["Pre-seed","Seed"],"sectors":["Climate / Energy","Deeptech / Hardware"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Not disclosed"},"leadFollow":"Lead","province":["AB","SK","ON"],"hq":{"city":"Calgary","region":"AB"},"languages":["EN"],"founded":2021,"fundSize":{"value":15,"currency":"CAD","vintage":2021},"activity":"Selectif","lastDealDate":"2025-09-08","website":"https://carrotventures.com/","linkedinURL":"https://ca.linkedin.com/company/carrotventures","logo":"/assets/vc-logos/carrot-ventures.png?v=4","logoBgColor":"#C8632A","thesis":{"en":"Carrot Ventures is a Calgary venture studio and fund managed by Verdex Capital (formerly the AVAC Group), backed by AVAC and Farm Credit Canada. It builds and finances Canadian agtech and foodtech companies, sourcing technology, recruiting leadership, forming the company and leading the first round. Carrot Ventures Fund I closed at $15M in 2021, alongside the Verdex AgriFund for patient early-stage capital. It has made 4 investments to date, most recently leading Cellar Insights' seed round in 2025.","fr":"Carrot Ventures est un studio de capital de risque et un fonds de Calgary géré par Verdex Capital (anciennement AVAC Group), soutenu par AVAC et Financement agricole Canada. Il bâtit et finance des entreprises canadiennes d'agtech et de foodtech, en sourçant la technologie, en recrutant la direction, en formant la société et en menant la première ronde. Carrot Ventures Fund I a clôturé à 15M$ en 2021, aux côtés du Verdex AgriFund pour du capital patient early-stage. Il a réalisé 4 investissements à ce jour, le plus récent étant la ronde d'amorçage de Cellar Insights menée en 2025."},"tagline":{"en":"Alberta's agtech and foodtech venture studio","fr":"Le studio de capital de risque agtech et foodtech de l'Alberta"},"valueAdd":{"en":["Venture-studio model from idea to first round","AVAC and Farm Credit Canada backing","Agtech and foodtech specialization","Company formation and leadership recruiting"],"fr":["Modèle de studio de l'idée à la première ronde","Soutien d'AVAC et de Financement agricole Canada","Spécialisation agtech et foodtech","Formation de société et recrutement de direction"]},"followOnNarrative":{"en":"","fr":""},"keyQuestions":{"en":[],"fr":[]},"coInvestors":[],"people":[],"portfolio":[{"name":"Cellar Insights","sector":"Climate / Energy","stage":"Seed","year":2025}],"verifiedSource":"https://verdexcapital.com/verdex-capital-launches-novel-15m-venture-capital-fund/","lastVerifiedAt":"2026-06-29","editorialLevel":"Long tail (light)"},{"id":"rec55","slug":"good-news-ventures","name":"Good News Ventures","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed"],"sectors":["AI / ML","Web3 / Crypto","SaaS / Vertical SaaS"],"ticket":{"min":null,"max":500000,"currency":"CAD","label":"$100k to $500k CAD"},"leadFollow":"Follow","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":null,"fundSize":null,"activity":"Selectif","lastDealDate":"2025-01-23","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":"Toronto pre-seed and seed fund backing true-grit founders globally. Sector-agnostic with a strong focus on AI (agents, generative tools, predictive analytics, automation) and Blockchain (infrastructure, middleware, DeFi), it invests in B2B and B2B2C technology startups with early traction (users, pilots or revenue).","fr":"Petit fonds pre-seed et seed basé à Toronto, 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":"True-grit founders, AI and blockchain 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":"Marat Mukhamedyarov","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/mukhamedyarov/","initials":"MM","avatarBgColor":"#534AB7"},{"fullName":"Mohan Markandaier","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/mohan-markandaier-2075584/","initials":"MM","avatarBgColor":"#1D9E75"}],"portfolio":[{"name":"Spellbook","sector":"AI / ML","stage":"NC","year":null},{"name":"Voiceflow","sector":"AI / ML","stage":"NC","year":null},{"name":"Stay22","sector":"Marketplace / Consumer","stage":"NC","year":null},{"name":"Quandri","sector":"AI / ML","stage":"NC","year":null},{"name":"Datafold","sector":"Devtools / Infra","stage":"NC","year":null},{"name":"Fleetops","sector":"SaaS / Vertical SaaS","stage":"NC","year":null},{"name":"Huddle01","sector":"Web3 / Crypto","stage":"NC","year":null}],"verifiedSource":"https://www.goodnewsventures.com/","lastVerifiedAt":"2026-06-11","editorialLevel":"Long tail (light)"},{"id":"rec56","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":null,"activity":"Selectif","lastDealDate":"2026-01-13","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 VC founded in 2000 in Toronto, investing in and building early-stage biotech, pharma and medtech companies addressing unmet medical needs via a create-and-build strategy. Over $400M raised across five funds, with 20 exits including Fusion Pharmaceuticals (AstraZeneca, $2.4B) and Inversago Pharma (Novo Nordisk, $1.1B). Led Enspire DBS Therapy's Series B1 in January 2026.","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 IV (Genesys Ventures IV), clos en juin 2025 et 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":"Creating and 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 IV 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 IV 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":[],"people":[{"fullName":"Damian Lamb","role":"Co-Founder, Managing Director","linkedinURL":"https://www.linkedin.com/in/damian-lamb-genesys/","initials":"DL","avatarBgColor":"#534AB7"},{"fullName":"Kelly Holman","role":"Co-Founder, Managing Director","linkedinURL":"","initials":"KH","avatarBgColor":"#1D9E75"},{"fullName":"Jamie Stiff","role":"Managing Director","linkedinURL":"https://www.linkedin.com/in/jamie-stiff/","initials":"JS","avatarBgColor":"#A32D2D"},{"fullName":"Jennifer Williams","role":"Partner & Chief Financial Officer","linkedinURL":"","initials":"JW","avatarBgColor":"#712B13"},{"fullName":"Sarah Farr","role":"Principal","linkedinURL":"","initials":"SF","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"Fusion Pharmaceuticals","sector":"Healthtech / Biotech","stage":"Exit 2024 (AstraZeneca)","year":null},{"name":"Inversago Pharma","sector":"Healthtech / Biotech","stage":"Exit 2023 (Novo Nordisk)","year":null},{"name":"Profound Medical","sector":"Healthtech / Biotech","stage":"Public (TSX:PRN)","year":null},{"name":"Feldan Therapeutics","sector":"Healthtech / Biotech","stage":"NC","year":null},{"name":"Flosonics Medical","sector":"Healthtech / Biotech","stage":"NC","year":null}],"verifiedSource":"https://www.genesyscapital.com/news","lastVerifiedAt":"2026-06-11","editorialLevel":"Long tail (light)"},{"id":"rec57","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":null,"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 growth equity firm investing in the energy transition (power, mobility, built environment, industrials). Fund III held a first close of $158M in March 2024 and reached its final close on December 2, 2025 as MKB's largest fund to date (final amount not publicly disclosed; lead investors La Caisse, Investissement Quebec and BDC). The $145M figure widely cited in August 2024 referred only to the government-agency commitments at the time, not the final fund size. Fund II closed oversubscribed at $175M in 2021.","fr":"Societe montrealaise de growth equity investie dans la transition energetique (energie, mobilite, environnement bati, industriels). Le Fonds III a realise un premier closing de 158 M$ en mars 2024 et son closing final le 2 decembre 2025, devenant le plus grand fonds de MKB a ce jour (montant final non divulgue; investisseurs principaux La Caisse, Investissement Quebec et BDC). Le chiffre de 145 M$ cite en aout 2024 ne couvrait que les engagements des agences gouvernementales. Le Fonds II avait cloture en sursouscription a 175 M$ en 2021."},"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":"Co-Founder & Senior Partner","linkedinURL":"","initials":"KM","avatarBgColor":"#534AB7"},{"fullName":"Antonio Occhionero","role":"Managing 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":"Rockit Motors (IEC Holden)","sector":"Climate / Energy","stage":"Growth","year":2025},{"name":"Cascadia","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}],"verifiedSource":"https://www.mkbandco.com/portfolio/","lastVerifiedAt":"2026-06-11","editorialLevel":"Long tail (light)"},{"id":"rec58","slug":"front-row-ventures","name":"Front Row Ventures","type":"VC","conviction":"generaliste","stages":["Pre-seed"],"sectors":["Generalist (no thesis)"],"ticket":{"min":50000,"max":50000,"currency":"CAD","label":"$25K-$50K"},"leadFollow":"Follow","province":["QC","ON","BC","AB"],"hq":{"city":"Montreal","region":"QC"},"languages":["EN","FR"],"founded":2017,"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":"First Canadian student-run VC, founded in 2016 in Montreal and backed by Real Ventures. A $5.5M pan-Canadian fund (FRV-CAN-22, closed 2023) writes $50K founder-friendly SAFE cheques to student-led startups across 24+ campuses in Quebec, Ontario, BC and Alberta. A founding member of the Canadian Startup Capital Association (CSCA).","fr":"Premier VC canadien géré par des étudiants, fondé en 2016 à Montréal. Front Row déploie un fonds pancanadien de 5,5 M$ 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":"Built by students, for students. Canada's first student-run VC.","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":"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":"Healthtech / Biotech","stage":"Pre-seed","year":2019},{"name":"Valence Discovery","sector":"AI / ML","stage":"Exit 2023 (Recursion)","year":null},{"name":"AWL-Electricity","sector":"Climate / Energy","stage":"Pre-seed","year":2021}],"verifiedSource":"https://frontrow.ventures/companies/","lastVerifiedAt":"2026-06-12","editorialLevel":"Long tail (light)"},{"id":"rec59","slug":"georgian","name":"Georgian","type":"VC","conviction":"tech-actif","stages":["Series B+"],"sectors":["SaaS / Vertical SaaS","AI / ML","Cybersecurity","Fintech / Insurtech","Devtools / Infra"],"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":1213,"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, Lead Investor & Head of Firm","linkedinURL":"https://ca.linkedin.com/in/justin-lafayette-bb43972b","initials":"JL","avatarBgColor":"#534AB7"},{"fullName":"Simon Chong","role":"Co-Founder & Lead Investor","linkedinURL":"https://www.linkedin.com/in/simonchong/","initials":"SC","avatarBgColor":"#1D9E75"},{"fullName":"John Berton","role":"Co-Founder","linkedinURL":"https://ca.linkedin.com/in/john-berton-6269877","initials":"JB","avatarBgColor":"#A32D2D"},{"fullName":"Emily Walsh","role":"Lead Investor","linkedinURL":"https://ca.linkedin.com/in/emily-walsh-15593a11","initials":"EW","avatarBgColor":"#712B13"}],"portfolio":[{"name":"Replit","sector":"AI / ML","stage":"Series D","year":2026},{"name":"Island","sector":"Cybersecurity","stage":"","year":null},{"name":"Render","sector":"Devtools / Infra","stage":"","year":null},{"name":"Cyera","sector":"Cybersecurity","stage":"","year":null},{"name":"PolyAI","sector":"AI / ML","stage":"","year":null}],"verifiedSource":"https://georgian.io/","lastVerifiedAt":"2026-06-02","editorialLevel":"Top 30 (full)"},{"id":"rec60","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":750000,"currency":"CAD","label":"$250K-$1M USD"},"leadFollow":"Lead","province":["AB","SK","MB"],"hq":{"city":"Calgary","region":"AB"},"languages":["EN"],"founded":2020,"fundSize":{"value":10,"currency":"CAD","vintage":2021},"activity":"Actif","lastDealDate":"2025-10-15","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":"$10M Fund I based in Calgary, exclusively dedicated to pre-seed in B2B SaaS, AI and cloud across Alberta and the Prairies. Founded in 2020 by Bryan Slauko, Jacques LaPointe and Dennis Nerland, Metiquity aims for a portfolio of 20 to 30 companies. The firm is highly active for fast-growing founders looking for a regionally anchored first cheque. The thesis combines tech selectivity with strong Prairie roots, making Metiquity a natural lead for founders who want a local partner with a clear focus on capital efficiency and B2B fundamentals.","fr":"Fonds I de 10 M$ 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, Jacques LaPointe et Dennis Nerland. Metiquity vise 20 à 30 sociétés en portefeuille. Approche tech-actif avec ancrage régional fort, lead naturel sur les premiers chèques pre-seed des Prairies."},"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":"Graphite Ventures","slug":"graphite-ventures"},{"name":"The A100","slug":"the-a100"},{"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":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/bryanslauko/","initials":"BS","avatarBgColor":"#534AB7"},{"fullName":"Jacques LaPointe","role":"Co-Founder, Director","linkedinURL":"https://www.linkedin.com/in/jacques-lapointe-b16ba81/","initials":"JL","avatarBgColor":"#1D9E75"},{"fullName":"Dennis Nerland","role":"Co-Founder, Director","linkedinURL":"","initials":"DN","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"WaitWell","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2022},{"name":"Mastrius","sector":"SaaS / Vertical SaaS","stage":"Pre-seed","year":2023},{"name":"Cashew Research","sector":"AI / ML","stage":"Pre-seed","year":2024},{"name":"Sylvester AI","sector":"AI / ML","stage":"Pre-seed","year":2024},{"name":"Black Owl Systems","sector":"SaaS / Vertical SaaS","stage":"Pre-seed","year":2024},{"name":"Bidaya AI","sector":"AI / ML","stage":"Pre-seed","year":2025},{"name":"Quack","sector":"SaaS / Vertical SaaS","stage":"Pre-seed","year":2025},{"name":"ReserveX","sector":"SaaS / Vertical SaaS","stage":"Pre-seed","year":2025}],"verifiedSource":"https://metiquity.ca/Team","lastVerifiedAt":"2026-06-12","editorialLevel":"Long tail (light)"},{"id":"rec61","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 $1.5M CAD"},"leadFollow":"Both","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2015,"fundSize":{"value":23.5,"currency":"CAD","vintage":null},"activity":"Actif","lastDealDate":"2026-04-07","website":"https://greensky.vc","linkedinURL":"https://www.linkedin.com/company/greenskyventures/","logo":"/assets/vc-logos/greensky-ventures.png?v=4","logoBgColor":"#3B82F6","thesis":{"en":"Toronto early-stage VC backing Canadian B2B technology startups since 2015 through its GreenSky Accelerator Funds I to VI. High-conviction cheques into companies with commercial traction across AI, climate, cybersecurity, fintech, healthtech and industrial/IoT; currently deploying Fund VI with Fund VII expected to open in 2026.","fr":"Fonds torontois investissant en early-stage dans des entreprises technologiques canadiennes ayant un impact mesurable sur les chaînes de valeur B2B existantes. GreenSky concentre les paris sur des sociétés à haute conviction. Le Fonds VI a clôturé en juin 2025 à 23,5 M$, 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":"StandUp Ventures","slug":"standup-ventures"},{"name":"Version One Ventures","slug":"version-one-ventures"},{"name":"Brightspark Ventures","slug":"brightspark-ventures"},{"name":"Graphite Ventures","slug":"graphite-ventures"},{"name":"Export Development Canada","slug":"export-development-canada"}],"people":[{"fullName":"Mike List","role":"Founder, Managing Partner","linkedinURL":"https://www.linkedin.com/in/mike-list-31957929/","initials":"ML","avatarBgColor":"#534AB7"},{"fullName":"Marian Hoffmann","role":"Managing Partner","linkedinURL":"","initials":"MH","avatarBgColor":"#1D9E75"},{"fullName":"Jeff Brunet","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/jeffbrunet/","initials":"JB","avatarBgColor":"#A32D2D"},{"fullName":"Greg Stewart","role":"Partner, IC Chair","linkedinURL":"","initials":"GS","avatarBgColor":"#712B13"},{"fullName":"Valdis Martinsons","role":"Chief Technologist","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":"Senior Associate","linkedinURL":"https://www.linkedin.com/in/justindunnion/","initials":"JD","avatarBgColor":"#14B8A6"}],"portfolio":[{"name":"Edgecom Energy","sector":"Climate / Energy","stage":"NC","year":null},{"name":"PhenoTips","sector":"Healthtech / Biotech","stage":"NC","year":null},{"name":"BioAlert Solutions","sector":"Climate / Energy","stage":"NC","year":null},{"name":"Brickeye","sector":"Deeptech / Hardware","stage":"Series B","year":2026},{"name":"Direct-C","sector":"Deeptech / Hardware","stage":"NC","year":null},{"name":"Assetflo","sector":"Deeptech / Hardware","stage":"Seed","year":2025},{"name":"GridBank","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2026}],"verifiedSource":"https://greensky.vc/","lastVerifiedAt":"2026-06-12","editorialLevel":"Long tail (light)"},{"id":"rec62","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":890,"currency":"CAD","vintage":2022},"activity":"Actif","lastDealDate":"2026-05-19","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 $6.3B in assets, including a Fund III closed at US$655M plus late-stage and capital solutions vehicles. Portage takes the lead, deploys cheques from $1M to $25M, and supports founders with an exceptional institutional network (banks, insurers, asset managers). Offices in Toronto, Montreal, New York, San Francisco and Paris make it a natural partner for fintech founders targeting transatlantic expansion.","fr":"Plateforme fintech specialisee au sein de Sagard (filiale de Power Corporation), Portage Ventures est tres active du seed jusqu'au stade de croissance dans les services financiers, l'assurance et l'infrastructure fintech. Cofondee par Adam Felesky et Paul Desmarais III, la firme gere 6,3 G$ d'actifs, dont un Fund III ferme a 655 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":[],"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":"Partner & Co-Head, Capital Solutions","linkedinURL":"https://ca.linkedin.com/in/devon-kirk-734a353","initials":"DK","avatarBgColor":"#712B13"},{"fullName":"Daniel Ballen","role":"Partner & Co-Head, Capital Solutions","linkedinURL":"","initials":"DB","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"Wealthsimple","sector":"Fintech / Insurtech","stage":"Series A","year":2019},{"name":"KOHO","sector":"Fintech / Insurtech","stage":"Series B","year":2020},{"name":"Nesto","sector":"Fintech / Insurtech","stage":"Series B","year":2022},{"name":"Clark","sector":"Fintech / Insurtech","stage":"Series B+","year":2021},{"name":"Hometap","sector":"Fintech / Insurtech","stage":"Series B+","year":2021}],"verifiedSource":"https://portageinvest.com/","lastVerifiedAt":"2026-06-02","editorialLevel":"Top 30 (full)"},{"id":"rec63","slug":"vistara-growth","name":"Vistara Growth","type":"Other","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":"Actif","lastDealDate":"2026-02-24","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":[],"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":"Principal","linkedinURL":"https://www.linkedin.com/in/johnodonoghuecfa/","initials":"JO","avatarBgColor":"#A32D2D"},{"fullName":"Neil Kenley","role":"Principal","linkedinURL":"https://www.linkedin.com/in/neilkenley/","initials":"NK","avatarBgColor":"#712B13"}],"portfolio":[{"name":"Subject","sector":"AI / ML","stage":"Growth investment","year":2026},{"name":"Authentic8","sector":"Cybersecurity","stage":"Growth debt","year":2025},{"name":"Impact Analytics","sector":"AI / ML","stage":"Growth investment","year":2025},{"name":"Clariti","sector":"SaaS / Vertical SaaS","stage":"Growth investment","year":2024},{"name":"DataCore","sector":"Devtools / Infra","stage":"Growth investment","year":2024},{"name":"Brim Financial","sector":"Fintech / Insurtech","stage":"Growth investment","year":2022},{"name":"Run Security","sector":"Cybersecurity","stage":"Growth investment","year":2022},{"name":"Kore.ai","sector":"AI / ML","stage":"Growth investment","year":2021},{"name":"Sama","sector":"AI / ML","stage":"Growth investment","year":2021},{"name":"D3 Security","sector":"Cybersecurity","stage":"Growth equity","year":2021},{"name":"Matic","sector":"Fintech / Insurtech","stage":"NC","year":null},{"name":"Glooko","sector":"Healthtech / Biotech","stage":"NC","year":null}],"verifiedSource":"https://vistaragrowth.com/vistara-news/vistara-growth-fund-v-final-close-2025/","lastVerifiedAt":"2026-06-02","editorialLevel":"Top 30 (full)"},{"id":"rec64","slug":"two-small-fish-ventures","name":"Two Small Fish Ventures","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed"],"sectors":["AI / ML","Deeptech / Hardware","Devtools / Infra","SaaS / Vertical SaaS"],"ticket":{"min":500000,"max":1360000,"currency":"CAD","label":"$500k to $2M CAD"},"leadFollow":"Both","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2014,"fundSize":{"value":41,"currency":"CAD","vintage":2023},"activity":"Selectif","lastDealDate":"2026-04-23","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 US$30M (about C$41M) in 2023, focused on the next frontier of computing: AI, semiconductors, robotics and related applications. Early backer of Canadian deep tech founders, with a hands-on, operator-led approach from a serial founder background. Notable holdings include Ada and Applied Brain Research.","fr":"Two Small Fish Ventures est un fonds d'amorçage deeptech basé à Toronto, dirigé par Eva Lau (cofondatrice de Wattpad) et Allen Lau. Le Fonds III a clos à 30 M$ US (environ 41 M$ CA) en 2023, axé sur la prochaine frontière de l'informatique : IA, semi-conducteurs, robotique et applications connexes. Investisseur précoce de fondateurs deeptech canadiens, avec une approche très impliquée d'opérateurs au parcours de fondateur en série. Participations notables : Ada et Applied Brain Research."},"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":"Golden Ventures","slug":"golden-ventures"},{"name":"Radical Ventures","slug":"radical-ventures"},{"name":"BDC Capital","slug":"bdc-capital"}],"people":[{"fullName":"Eva Lau","role":"Co-founder & Managing Partner","linkedinURL":"https://ca.linkedin.com/in/evalau","initials":"EL","avatarBgColor":"#534AB7"},{"fullName":"Allen Lau","role":"Co-founder","linkedinURL":"","initials":"AL","avatarBgColor":"#1D9E75"},{"fullName":"Brandon Zhao","role":"Partner","linkedinURL":"https://www.linkedin.com/in/brandon-zhao-a3086926/","initials":"BZ","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Ada","sector":"AI / ML","stage":"Seed","year":2017},{"name":"Applied Brain Research","sector":"AI / ML","stage":"Seed","year":2021},{"name":"Nimbic","sector":"Deeptech / Hardware","stage":"Pre-seed","year":2024},{"name":"Jiffy","sector":"Marketplace / Consumer","stage":"Seed","year":2021},{"name":"SkipTheDishes","sector":"Marketplace / Consumer","stage":"Seed","year":2014}],"verifiedSource":"https://twosmallfish.vc/companies","lastVerifiedAt":"2026-06-03","editorialLevel":"Top 30 (full)"},{"id":"rec65","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 active since 2000 in industrial, manufacturing, clean energy and IT infrastructure. Founded by Sunil Selby (Managing Partner) with Dominic Talalla (Managing Partner), Trellis now operates alongside Dash40 Ventures, an early-stage fund run by the same partners that draws on Trellis for follow-on financing. Trellis made few new primary deals after 2017 (it participated in ThinkData Works in 2020) and its new-deal activity has largely shifted to the linked Dash40 vehicle. Notable exits include iS5 Communications (acquired by Phoenix Contact, December 2022) and Sciemetric.","fr":"VC torontois actif depuis 2000 dans l'industriel, la fabrication, l'energie propre et l'infrastructure TI. Fonde par Sunil Selby (Managing Partner) avec Dominic Talalla (Managing Partner), Trellis opere desormais aux cotes de Dash40 Ventures, un fonds early-stage dirige par les memes associes qui s'appuie sur Trellis pour le financement de suivi. Trellis a fait peu de nouveaux deals primaires apres 2017 (participation a ThinkData Works en 2020) et son activite de nouveaux deals s'est largement deplacee vers le vehicule lie Dash40. Sorties notables: iS5 Communications (acquis par Phoenix Contact, decembre 2022) et Sciemetric."},"tagline":{"en":"Industrial and cleantech veteran, now active via Dash40.","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"}],"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}],"verifiedSource":"https://www.trelliscapital.ca/","lastVerifiedAt":"2026-06-22","editorialLevel":"Long tail (light)"},{"id":"rec66","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":null,"max":150000,"currency":"CAD","label":"Up to $150k per company via MLA48 Fund, up to $300k follow-on"},"leadFollow":"Both","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2007,"fundSize":null,"activity":"Selectif","lastDealDate":null,"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 collectively look to invest $250k to $1M per opportunity through the group. To date MLA members have invested over $44 million in 102 companies. Notable investments include Nicoya Lifesciences, Cybeats (acquired by Relay Medical in 2021), OnCall Health and EmergConnect (2025 seed led by AQC Capital, alongside Leva Capital, Anges Quebec, Nimbus Synergies and Capital Angel Network). MLA is active in the Ontario angel ecosystem alongside Angel Investors Ontario and the National Angel Capital Organization.","fr":"Maple Leaf Angels (MLA) est le plus grand réseau d'investisseurs anges de Toronto, fondé en 2007 comme organisation à but non lucratif à adhésion qui connecte des investisseurs accrédités avec des fondateurs tech seed et early-stage. Les membres émettent des chèques de 250 k$ 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 deployed per opportunity by the group","over $44M invested in 102 companies","active across the Ontario angel ecosystem (Angel Investors Ontario, NACO)","seed and early-stage tech focus"],"fr":["Plus grand réseau d'anges torontois (depuis 2007)","Chèques syndiqués 250 k$ 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":"AQC Capital","slug":"aqc-capital"},{"name":"Leva Capital","slug":"leva-capital"},{"name":"Anges Quebec","slug":"anges-quebec"},{"name":"Nimbus Synergies","slug":"nimbus-synergies"},{"name":"Capital Angel Network","slug":"capital-angel-network"}],"people":[{"fullName":"Emily Porta","role":"Executive Director","linkedinURL":"","initials":"EP","avatarBgColor":"#534AB7"},{"fullName":"Angelo Pierro","role":"Chair of Board","linkedinURL":"","initials":"AP","avatarBgColor":"#1D9E75"}],"portfolio":[{"name":"EmergConnect","sector":"Healthtech / Biotech","stage":"Seed","year":null},{"name":"Nicoya Lifesciences","sector":"Healthtech / Biotech","stage":"Seed","year":null},{"name":"OnCall Health","sector":"Healthtech / Biotech","stage":"Seed","year":null},{"name":"Cybeats","sector":"Cybersecurity","stage":"Exit (Relay Medical 2021)","year":null}],"verifiedSource":"https://mapleleafangels.com/about/","lastVerifiedAt":"2026-06-06","editorialLevel":"Top 30 (full)"},{"id":"rec67","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":null,"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. In March 2026 it announced a formal strategic partnership with Providence Health Care Ventures (PHC Ventures) to accelerate healthy-aging innovation. 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. En mars 2026, le fonds a annoncé un partenariat stratégique formel avec Providence Health Care Ventures (PHC Ventures) pour accélérer l'innovation en vieillissement en santé."},"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 & Co-Founder","linkedinURL":"https://ca.linkedin.com/in/brenda-irwin-relentlessventurefund","initials":"BI","avatarBgColor":"#534AB7"},{"fullName":"Isabella Bertold","role":"Senior Associate","linkedinURL":"https://www.linkedin.com/in/isabellabertold/","initials":"IB","avatarBgColor":"#1D9E75"},{"fullName":"Denis Ho","role":"Venture Partner","linkedinURL":"https://ca.linkedin.com/in/denis-ho-6348073","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":"Newtopia","sector":"Healthtech / Biotech","stage":"NC","year":null},{"name":"Snapclarity","sector":"Healthtech / Biotech","stage":"Exit (CloudMD)","year":null},{"name":"Lucid","sector":"Healthtech / Biotech","stage":"NC","year":null}],"verifiedSource":"https://www.relentlesspursuitpartners.com/portfolio","lastVerifiedAt":"2026-06-12","editorialLevel":"Long tail (light)"},{"id":"rec68","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":350000,"max":2000000,"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":2025},"activity":"Selectif","lastDealDate":"2025-09-01","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 financial platform & venture firm.","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, CEO & Board Director","linkedinURL":"","initials":"SK","avatarBgColor":"#534AB7"},{"fullName":"Judy Fairburn","role":"Co-Founder, General Partner & Board Director","linkedinURL":"","initials":"JF","avatarBgColor":"#1D9E75"},{"fullName":"Lauren Robinson","role":"Managing Partner, Funds","linkedinURL":"","initials":"LR","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Coral","sector":"Healthtech / Biotech","stage":"Seed","year":2025},{"name":"NLPatent","sector":"AI / ML","stage":"Seed","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}],"verifiedSource":"https://the51.com/","lastVerifiedAt":"2026-06-26","editorialLevel":"Top 30 (full)"},{"id":"rec69","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}],"verifiedSource":"https://phcventures.ca/venture-fund/","lastVerifiedAt":"2026-06-02","editorialLevel":"Long tail (light)"},{"id":"rec70","slug":"519-growth-fund","name":"519 Growth Fund","type":"VC","conviction":"generaliste","stages":["Pre-seed","Seed"],"sectors":["SaaS / Vertical SaaS","Deeptech / Hardware","Fintech / Insurtech"],"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":10,"currency":"CAD","vintage":2024},"activity":"Selectif","lastDealDate":null,"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":"519 Growth Fund is a disciplined early-stage venture firm based in London, Ontario, co-managed with RHA Ventures (\"founders for founders\"). It backs founders working on real-world problems in sizable markets, investing early seed capital across Canada in technology-enabled companies with demonstrated recurring revenue, market acceptance and a defensible position. The mandate is weighted toward agri-food innovation (roughly two thirds of the portfolio), with the balance in tech-enabled companies; focus areas span AgTech & Food, Enterprise Services, Advanced Manufacturing, Financial Services, Sports & Recreation, Web3 and IoT. Fund II closed its first tranche at C$10M, targeting C$15M by June 2026, led by General Partners David Brebner, Brian Foster and Brian Cram.","fr":"519 Growth Fund est un fonds de capital de risque early-stage rigoureux, base a London (Ontario), cogere avec RHA Ventures selon une approche \"founders for founders\". Il soutient des fondateurs qui s'attaquent a des problemes concrets sur des marches de taille, en investissant du capital seed precoce partout au Canada dans des entreprises technologiques affichant des revenus recurrents demontres et une position defendable. Le mandat est oriente vers l'innovation agroalimentaire (environ deux tiers du portefeuille), le solde allant a des entreprises tech-enabled; domaines: AgTech et alimentaire, services aux entreprises, fabrication de pointe, services financiers, sport et loisirs, Web3 et IoT. Le Fund II a cloture sa premiere tranche a 10 M$ CA, cible 15 M$ d'ici juin 2026, dirige par David Brebner, Brian Foster et Brian Cram."},"tagline":{"en":"Disciplined seed capital for Southwestern Ontario founders.","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":2022},{"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},{"name":"Strongbo Agritech","sector":"SaaS / Vertical SaaS","stage":"Seed","year":null}],"verifiedSource":"https://rha.ventures/pressroom/519-growth-fund-2-launch","lastVerifiedAt":"2026-06-12","editorialLevel":"Long tail (light)"},{"id":"rec71","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","QC","BC","AB","OTHER"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2015,"fundSize":{"value":68,"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. The firm launched one of the world's first dedicated proptech funds in 2015; Fund II held an initial close of about US$50M (~$68M CAD) in 2021 toward a US$100M target, and GSPV manages roughly US$100M across its two funds. Greensoil suits founders selling into real estate operators and developers who need a partner with category-specific networks and customer access.","fr":"Specialiste pure-play en proptech, Greensoil investit en early et mid-stage en Amerique du Nord, en Europe et en Israel. La these vise a numeriser et decarboner l'environnement bati pour gagner en productivite, efficacite et durabilite. Le Fonds I a cloture a environ 60 M$ US (environ 82 M$ CA); le Fonds II est en cours de levee avec une cible de 100 M$ US. Greensoil convient aux fondateurs qui vendent aux operateurs et promoteurs immobiliers et cherchent un partenaire dote de reseaux et d'acces clients specifiques au secteur."},"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":"Co-Founder & Chairman","linkedinURL":"","initials":"AG","avatarBgColor":"#534AB7"},{"fullName":"Gideon Soesman","role":"Co-Founder & Managing Partner","linkedinURL":"","initials":"GS","avatarBgColor":"#1D9E75"},{"fullName":"Jamie James","role":"Managing Partner","linkedinURL":"","initials":"JJ","avatarBgColor":"#A32D2D"},{"fullName":"Dave Kolada","role":"Managing Partner","linkedinURL":"","initials":"DK","avatarBgColor":"#712B13"}],"portfolio":[{"name":"CABN","sector":"Climate / Energy","stage":"Seed","year":2025},{"name":"TULU","sector":"Marketplace / Consumer","stage":"Series B","year":2022},{"name":"Virtual Peaker","sector":"Climate / Energy","stage":"Series A","year":2023},{"name":"Goby","sector":"SaaS / Vertical SaaS","stage":"Exit 2021 (Conservice)","year":null},{"name":"Wynd Technologies","sector":"SaaS / Vertical SaaS","stage":"Series B","year":2021},{"name":"Honest Buildings","sector":"SaaS / Vertical SaaS","stage":"Exit 2019 (Procore)","year":null}],"verifiedSource":"https://www.gspv.vc/","lastVerifiedAt":"2026-06-15","editorialLevel":"Long tail (light)"},{"id":"rec72","slug":"radical-ventures","name":"Radical Ventures","type":"VC","conviction":"pure-play","stages":["Pre-seed","Seed","Series A","Series B+"],"sectors":["AI / ML"],"ticket":{"min":1000000,"max":25000000,"currency":"CAD","label":"$1M to $25M CAD"},"leadFollow":"Lead","province":["ON","QC","BC","OTHER"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2017,"fundSize":{"value":884,"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 a global AI-focused venture firm based in Toronto, investing in transformative artificial intelligence companies from first cheque to growth. Co-founded in 2017 by Jordan Jacobs, Tomi Poutanen, Salim Teja and Aaron Brindle, Radical backs founders building category-defining AI across sectors and geographies (Canada, US, Europe, India). The firm closed a US$650M early-stage fund in October 2025 and surpassed US$1B in assets under management, providing deep access to AI research talent, compute and enterprise customers. Radical is a natural partner for ambitious AI founders in Canada and globally.","fr":"Radical Ventures est le fonds canadien de reference en intelligence artificielle, fonde par Jordan Jacobs et Tomi Poutanen (cofondateurs de Layer 6). La firme investit dans les entreprises qui developpent et appliquent l'IA pour redefinir des industries entieres, de la frontiere modele jusqu'aux verticaux applicatifs. Cheques de 1 M$ 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":"Co-Founder & Managing Partner","linkedinURL":"https://ca.linkedin.com/in/jordanjacobs1","initials":"JJ","avatarBgColor":"#534AB7"},{"fullName":"Tomi Poutanen","role":"Co-Founder & 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, Public Affairs","linkedinURL":"https://www.linkedin.com/in/aaron-brindle/","initials":"AB","avatarBgColor":"#712B13"},{"fullName":"Aaron Rosenberg","role":"Partner","linkedinURL":"","initials":"AR","avatarBgColor":"#0EA5E9"},{"fullName":"Rob Toews","role":"Partner","linkedinURL":"","initials":"RT","avatarBgColor":"#F59E0B"},{"fullName":"Molly Welch","role":"Partner","linkedinURL":"","initials":"MW","avatarBgColor":"#EC4899"},{"fullName":"Sanjana Basu","role":"Partner","linkedinURL":"","initials":"SB","avatarBgColor":"#14B8A6"},{"fullName":"Fei-Fei Li","role":"Scientific Partner","linkedinURL":"","initials":"FL","avatarBgColor":"#A855F7"}],"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}],"verifiedSource":"https://radical.vc/","lastVerifiedAt":"2026-06-02","editorialLevel":"Top 30 (full)"},{"id":"rec73","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":"2026-02-26","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":"General Partner","linkedinURL":"","initials":"EM","avatarBgColor":"#534AB7"},{"fullName":"Luis Gutierrez Roy","role":"Venture Advisor","linkedinURL":"","initials":"LG","avatarBgColor":"#1D9E75"},{"fullName":"Varun Dalal","role":"Venture Advisor","linkedinURL":"","initials":"VD","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Glowtify","sector":"AI / ML","stage":"Seed","year":2025},{"name":"JetScale","sector":"AI / ML","stage":"Seed","year":2026}],"verifiedSource":"https://betakit.com/telegraph-ventures-secures-35-million-to-back-enterprise-ai-startups-in-quebec/","lastVerifiedAt":"2026-07-02","editorialLevel":"Long tail (light)"},{"id":"rec74","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":2021},"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 and fintech for North American financial services, spun out of RBC Venture Partners in 2014. Fund III closed in 2021 at $124M CAD ($101M USD), 25% larger than Fund II. In October 2024 the GPs forwent a Fund IV and shifted to single-asset, deal-by-deal SPV investing in later-stage companies (~$10M revenue); Fund III remains the last fund raised. Latest deal: $20M growth financing in DealMaker (Nov 2025, with CIBC Innovation Banking).","fr":"Pure-play B2B SaaS et fintech pour les services financiers nord-americains, essaime de RBC Venture Partners en 2014. Le Fonds III a cloture en 2021 a 124 M$ CAD (101 M$ US), 25% plus grand que le Fonds II. En octobre 2024, les associes ont renonce a un Fonds IV et sont passes a un modele d'investissement deal-by-deal via SPV sur des societes plus matures (~10 M$ de revenus); le Fonds III reste le dernier fonds leve. Dernier deal: financement de croissance de 20 M$ dans DealMaker (nov. 2025, avec 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":"Venture Partner","linkedinURL":"https://ca.linkedin.com/in/kerrigolden","initials":"KG","avatarBgColor":"#A32D2D"},{"fullName":"Sara Defina","role":"Director of Finance","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":2023},{"name":"Nue","sector":"SaaS / Vertical SaaS","stage":"Series A","year":2025},{"name":"DealMaker","sector":"Fintech / Insurtech","stage":"Growth","year":2025},{"name":"Strike Graph","sector":"Cybersecurity","stage":"Series A","year":2021}],"verifiedSource":"https://informationvp.com/","lastVerifiedAt":"2026-06-15","editorialLevel":"Long tail (light)"},{"id":"rec75","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":5000000,"max":10000000,"currency":"CAD","label":"$3M to $10M CAD"},"leadFollow":"Both","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2015,"fundSize":{"value":125,"currency":"CAD","vintage":2021},"activity":"Selectif","lastDealDate":"2025-11-25","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-Silicon Valley 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":"Richard Black","role":"Managing Partner & Co-Founder","linkedinURL":"https://www.linkedin.com/in/richard-black-a43a1313/","initials":"RB","avatarBgColor":"#534AB7"},{"fullName":"Tony van Marken","role":"Managing Partner & Co-Founder","linkedinURL":"","initials":"TV","avatarBgColor":"#1D9E75"},{"fullName":"Katharine Tomko","role":"Partner","linkedinURL":"","initials":"KT","avatarBgColor":"#A32D2D"},{"fullName":"Kate O'Brien","role":"Chief Financial Officer","linkedinURL":"","initials":"KO","avatarBgColor":"#712B13"},{"fullName":"Noah Chaikof","role":"Vice President","linkedinURL":"","initials":"NC","avatarBgColor":"#0EA5E9"},{"fullName":"Jake Diamond","role":"Analyst","linkedinURL":"https://www.linkedin.com/in/jakediamond/","initials":"JD","avatarBgColor":"#F59E0B"}],"portfolio":[{"name":"Burai","sector":"SaaS / Vertical SaaS","stage":"Growth","year":2025},{"name":"Osano","sector":"SaaS / Vertical SaaS","stage":"Series B","year":2023},{"name":"Shinydocs","sector":"SaaS / Vertical SaaS","stage":"Growth","year":2023},{"name":"Darwin CX","sector":"SaaS / Vertical SaaS","stage":"Growth","year":2022},{"name":"Thentia","sector":"SaaS / Vertical SaaS","stage":"Series B","year":2024},{"name":"Andgo","sector":"SaaS / Vertical SaaS","stage":"Series A","year":2022},{"name":"Potloc","sector":"SaaS / Vertical SaaS","stage":"Series B","year":2021},{"name":"Assent","sector":"SaaS / Vertical SaaS","stage":"Exit 2025 (Vista/Blackstone)","year":null},{"name":"Dialogue","sector":"Healthtech / Biotech","stage":"Exit 2023 (Sun Life)","year":null},{"name":"DailyPay","sector":"Fintech / Insurtech","stage":"Growth","year":2021},{"name":"LinkSquares","sector":"SaaS / Vertical SaaS","stage":"Series C","year":2021}],"verifiedSource":"https://firstascentventures.com/","lastVerifiedAt":"2026-06-15","editorialLevel":"Long tail (light)"},{"id":"rec76","slug":"alberta-enterprise-corporation","name":"Alberta Enterprise Corporation","type":"Public","conviction":"generaliste","stages":[],"sectors":["Generalist (no thesis)"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Not disclosed"},"leadFollow":"Both","province":["AB"],"hq":{"city":"Edmonton","region":"AB"},"languages":["EN"],"founded":2008,"fundSize":null,"activity":"Actif","lastDealDate":"2026-04-16","website":"https://www.alberta-enterprise.ca/","linkedinURL":"https://www.linkedin.com/company/alberta-enterprise-corporation/","logo":"/assets/vc-logos/alberta-enterprise-corporation.png?v=4","logoBgColor":"#14B8A6","thesis":{"en":"Alberta Enterprise Corporation (AEC) is a provincial government fund-of-funds, created by the Government of Alberta in 2008, that invests as a Limited Partner in venture capital funds; it does not invest directly in startups, so founders cannot pitch it for a cheque. Its mandate is to build a thriving venture capital industry in Alberta and to generate a return for Alberta taxpayers, and it does this by committing capital to VC funds that have (or agree to establish) a full-time senior presence in the province. As of December 2025 it had committed 434 million Canadian dollars across 41 funds spanning information technology, industrial and energy technology, and life sciences. Founders benefit indirectly: by raising from AEC-backed managers such as Yaletown, Mistral, Pender, Luge, Amplitude, McRock or Inovia, they reach funds that AEC has specifically required to invest in and be present in Alberta. In short, AEC is the layer behind your investors, the upstream LP that pulls active venture capital into the province so that local founders have more, and better-resourced, funds to raise from.","fr":"Alberta Enterprise Corporation (AEC) est un fonds de fonds du gouvernement de l'Alberta, cree en 2008, qui investit comme commanditaire (LP) dans des fonds de capital de risque; il n'investit pas directement dans les startups, donc les fondateurs ne peuvent pas le solliciter pour un cheque. Son mandat est de batir une industrie du capital de risque florissante en Alberta et de generer un rendement pour les contribuables albertains, ce qu'il fait en engageant du capital dans des fonds de VC qui ont (ou acceptent d'etablir) une presence senior a temps plein dans la province. En decembre 2025, il avait engage 434 millions de dollars canadiens dans 41 fonds couvrant les technologies de l'information, les technologies industrielles et energetiques, et les sciences de la vie. Les fondateurs en beneficient indirectement: en levant aupres de gestionnaires soutenus par AEC comme Yaletown, Mistral, Pender, Luge, Amplitude, McRock ou Inovia, ils atteignent des fonds qu'AEC a specifiquement obliges a investir et a etre presents en Alberta. En somme, AEC est la couche derriere vos investisseurs, le commanditaire en amont qui attire du capital de risque actif dans la province pour que les fondateurs locaux disposent de fonds plus nombreux et mieux dotes aupres desquels lever."},"tagline":{"en":"Backing the VC funds that fund Alberta.","fr":"Le commanditaire derriere les fonds qui financent l'Alberta."},"valueAdd":{"en":["Provincial government fund-of-funds: an institutional anchor LP, not a direct startup investor","Forces capital into Alberta by requiring backed funds to have a full-time senior presence in the province","434M CAD committed across 41 VC funds (Dec 2025) spanning IT, industrial/energy tech and life sciences","Has built and re-backed local Alberta managers (Accelerate Fund I-IV) and attracted national and North American funds to open Alberta offices","Long-term mandate with the dual goal of ecosystem development and taxpayer ROI, reinvesting returns into the province"],"fr":["Fonds de fonds du gouvernement provincial: un commanditaire institutionnel d'ancrage, pas un investisseur direct en startups","Force le capital a venir en Alberta en exigeant des fonds soutenus une presence senior a temps plein dans la province","434M$ CA engages dans 41 fonds de VC (decembre 2025) couvrant les TI, les technologies industrielles et energetiques et les sciences de la vie","A bati et re-soutenu des gestionnaires albertains locaux (Accelerate Fund I a IV) et attire des fonds nationaux et nord-americains a ouvrir des bureaux en Alberta","Mandat de long terme a double objectif: developpement de l'ecosysteme et rendement pour les contribuables, avec reinvestissement des rendements dans la province"]},"followOnNarrative":{"en":"AEC supports the ecosystem upstream rather than backing companies directly: it selects and capitalizes VC funds, then requires those managers to commit a senior presence and active investment in Alberta, multiplying the capital available to local founders (it reports roughly 5 dollars of follow-on VC investment into Alberta tech for every 1 dollar it commits). Beyond capital, it convenes investors, entrepreneurs and experienced operators, runs the Start Alberta deal-flow platform and periodic Deal Flow Studies, and champions fund solutions that fill critical gaps. For founders, the practical path is to raise from AEC-backed managers; for fund managers, AEC acts as an anchor LP and door-opener into the Alberta market.","fr":"AEC soutient l'ecosysteme en amont plutot que de financer directement les entreprises: il selectionne et capitalise des fonds de VC, puis exige de ces gestionnaires un engagement de presence senior et d'investissement actif en Alberta, multipliant le capital disponible pour les fondateurs locaux (il rapporte environ 5$ d'investissement de VC subsequent dans la tech albertaine pour chaque 1$ engage). Au-dela du capital, il reunit investisseurs, entrepreneurs et operateurs experimentes, opere la plateforme de flux d'affaires Start Alberta et des etudes periodiques de flux d'affaires, et promeut des solutions de fonds qui comblent des lacunes critiques. Pour les fondateurs, la voie pratique est de lever aupres de gestionnaires soutenus par AEC; pour les gestionnaires de fonds, AEC agit comme commanditaire d'ancrage et ouvreur de portes sur le marche albertain."},"keyQuestions":{"en":["Note: founders do not pitch AEC directly; these questions are framed for fund managers seeking it as a Limited Partner.","Does your fund have, or will it establish and maintain, a full-time senior investment professional and meaningful presence in Alberta for the life of the fund?","How does your fund's sector and stage focus map to current Alberta technology deal flow, and what is your demonstrated track record and pipeline in the province?","Does your fund meet AEC's structural criteria (VC limited partnership, minimum fund size around 50M or 20M for an Alberta micro-fund, at least two managing partners, standard market terms), and how will an AEC commitment anchor your broader LP base?"],"fr":["Note: les fondateurs ne sollicitent pas AEC directement; ces questions s'adressent aux gestionnaires de fonds cherchant AEC comme commanditaire.","Votre fonds dispose-t-il, ou etablira-t-il et maintiendra-t-il, un professionnel d'investissement senior a temps plein et une presence reelle en Alberta pour la duree du fonds?","Comment le focus sectoriel et de stade de votre fonds correspond-il au flux d'affaires technologique actuel de l'Alberta, et quel est votre bilan et votre pipeline demontres dans la province?","Votre fonds repond-il aux criteres structurels d'AEC (societe en commandite de VC, taille minimale d'environ 50M$ ou 20M$ pour un micro-fonds albertain, au moins deux associes gestionnaires, conditions de marche standard), et comment un engagement d'AEC ancrera-t-il votre base de commanditaires?"]},"coInvestors":[{"name":"Yaletown Partners (Accelerate Fund I-IV)","slug":"yaletown-partners-accelerate-fund-i-iv"},{"name":"Mistral Venture Partners (Fund V)","slug":"mistral-venture-partners-fund-v"},{"name":"Pender Ventures (Fund II)","slug":"pender-ventures-fund-ii"},{"name":"Luge Capital (Fund II)","slug":"luge-capital-fund-ii"},{"name":"Amplitude Ventures (Fund II)","slug":"amplitude-ventures-fund-ii"},{"name":"McRock Capital (Fund III)","slug":"mcrock-capital-fund-iii"},{"name":"Graphite Ventures","slug":"graphite-ventures"},{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"Relay Ventures","slug":"relay-ventures"},{"name":"Chrysalix Venture Capital","slug":"chrysalix-venture-capital"},{"name":"EnerTech Capital","slug":"enertech-capital"},{"name":"The51 (Food & Agtech Fund)","slug":"the51-food-agtech-fund"},{"name":"Sprout Fund","slug":"sprout-fund"},{"name":"Builders VC","slug":"builders-vc"},{"name":"Evok Innovations","slug":"evok-innovations"}],"people":[{"fullName":"Kristina Williams","role":"President and CEO","linkedinURL":"https://ca.linkedin.com/in/kwill","initials":"KW","avatarBgColor":"#534AB7"},{"fullName":"Rebecca Giffen","role":"VP Investments","linkedinURL":"","initials":"RG","avatarBgColor":"#1D9E75"},{"fullName":"Paul Godman","role":"VP Investments","linkedinURL":"","initials":"PG","avatarBgColor":"#A32D2D"},{"fullName":"Jennie Allen","role":"Chief Financial Officer","linkedinURL":"","initials":"JA","avatarBgColor":"#712B13"},{"fullName":"Ted Redmond","role":"Board Chair","linkedinURL":"","initials":"TR","avatarBgColor":"#0EA5E9"}],"portfolio":[],"verifiedSource":"","lastVerifiedAt":"2026-07-02","editorialLevel":""},{"id":"rec77","slug":"accelerate-fund","name":"Accelerate Fund","type":"VC","conviction":"generaliste","stages":["Pre-seed","Seed"],"sectors":["AI / ML","Healthtech / Biotech","SaaS / Vertical SaaS","Climate / Energy"],"ticket":{"min":250000,"max":500000,"currency":"CAD","label":"Up to $500k CAD per round"},"leadFollow":"Both","province":["AB"],"hq":{"city":"Calgary","region":"AB"},"languages":["EN"],"founded":2012,"fundSize":{"value":23,"currency":"CAD","vintage":2024},"activity":"Selectif","lastDealDate":"2026-04-16","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, established by Alberta Enterprise Corporation in 2012 and run 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","Program track record since 2012"],"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 co-invests on the same terms as private investors and will lead or co-lead pre-seed and seed rounds. Pro-rata capacity is preserved within Fund IV (which anchored at $15M against a $25M target) to back winners into pre-Series A, with Yaletown Partners positioned to provide an institutional bridge toward Series A.","fr":"Accelerate Fund suit les conditions du lead et ne mene pas typiquement. Une capacite pro rata est preservee dans le Fonds IV (cible 25 M$) 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":"Yaletown Partners","slug":"yaletown-partners"},{"name":"Opportunity Calgary Investment Fund","slug":"opportunity-calgary-investment-fund"},{"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":null},{"name":"PayShepherd","sector":"SaaS / Vertical SaaS","stage":"Seed","year":null},{"name":"Areto Labs","sector":"AI / ML","stage":"Seed","year":null},{"name":"DrugBank","sector":"Healthtech / Biotech","stage":"Seed","year":null},{"name":"Arolytics","sector":"Climate / Energy","stage":"Seed","year":null},{"name":"Cellar Insights","sector":"Climate / Energy","stage":"Seed","year":2025},{"name":"Fairly Staffing","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2026},{"name":"Virtual Gurus","sector":"Marketplace / Consumer","stage":"Seed","year":null}],"verifiedSource":"https://acceleratefund.ca/about/","lastVerifiedAt":"2026-06-26","editorialLevel":"Top 30 (full)"},{"id":"rec78","slug":"linearis-ventures","name":"Linearis Ventures","type":"VC","conviction":"pure-play","stages":["Seed","Series A","Series B+"],"sectors":["Healthtech / Biotech","AI / ML"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Not disclosed"},"leadFollow":"Both","province":["QC","OTHER"],"hq":{"city":"Québec","region":"QC"},"languages":["EN","FR"],"founded":2023,"fundSize":null,"activity":"Actif","lastDealDate":"2025-05-07","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 Fund I paired with its own metabolomics lab, investing in AI and precision-medicine life sciences companies from late Seed to Series B across the health continuum. Led by founder and CEO Alexandre Le Bouthillier, alongside partners Jacques Corbeil (CSO) and Manon Boisclair, the fund has a $50M commitment target backed in part by the City of Quebec, and has deployed into Noetik, Feldan Therapeutics and Zilia.","fr":"Linearis Ventures est un Fonds I base a Quebec, adosse a son propre laboratoire de metabolomique, qui investit dans des entreprises d'IA et de sciences de la vie, du Seed avance a la Serie B, sur le continuum de la sante. Dirige par son fondateur et PDG Alexandre Le Bouthillier, avec les partenaires Jacques Corbeil (CSO) et Manon Boisclair, le fonds vise un engagement de 50 M$ soutenu en partie par la Ville de Quebec, et a investi dans Noetik, Feldan Therapeutics et Zilia."},"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":[{"name":"Genesys Capital","slug":"genesys-capital"},{"name":"Investissement Québec","slug":"investissement-quebec"},{"name":"Fonds de Solidarité FTQ","slug":"fonds-de-solidarite-ftq"},{"name":"Amgen","slug":"amgen"}],"people":[{"fullName":"Alexandre Le Bouthillier","role":"Partner & CEO","linkedinURL":"https://www.linkedin.com/in/alebouthillier/","initials":"AL","avatarBgColor":"#534AB7"},{"fullName":"Jacques Corbeil","role":"Partner & CSO","linkedinURL":"https://www.linkedin.com/in/jacques-corbeil-0486391/","initials":"JC","avatarBgColor":"#1D9E75"},{"fullName":"Manon Boisclair","role":"Partner","linkedinURL":"https://www.linkedin.com/in/manon-boisclair-60a28110/","initials":"MB","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Noetik","sector":"Healthtech / Biotech","stage":"Series A","year":2024},{"name":"Feldan Therapeutics","sector":"Healthtech / Biotech","stage":"2025","year":null},{"name":"Zilia","sector":"Healthtech / Biotech","stage":"Bridge","year":2025}],"verifiedSource":"https://www.linearis.com/ventures","lastVerifiedAt":"2026-06-01","editorialLevel":"Long tail (light)"},{"id":"rec79","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":null,"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 about $600M managed across three funds and 30+ portfolio companies, the team invests at Series A and Series B+ in insurtech, fintech, data and AI, mobility and proptech, and vertical software platforms. Cheques of $2M to $10M CAD as lead or follow, with a pan-Canadian and bilingual mandate (QC, ON, BC, AB). Intact Ventures combines direct investment with fund-of-funds activity, and provides access to Intact's operational units (brokers, claims data, underwriting capabilities) to accelerate commercialization for portfolio companies.","fr":"Intact Ventures est le bras de capital de risque corporatif d'Intact Financial, le plus grand assureur dommages canadien. Avec ~400 M$ 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":"Left Lane Capital","slug":"left-lane-capital"},{"name":"XYZ Venture Capital","slug":"xyz-venture-capital"},{"name":"Framework Venture Partners","slug":"framework-venture-partners"},{"name":"Spark Capital","slug":"spark-capital"},{"name":"Costanoa Ventures","slug":"costanoa-ventures"}],"people":[{"fullName":"Justin Smith-Lorenzetti","role":"VP, Investments","linkedinURL":"","initials":"JS","avatarBgColor":"#534AB7"},{"fullName":"Michaela Hirsh","role":"Principal","linkedinURL":"","initials":"MH","avatarBgColor":"#1D9E75"},{"fullName":"Ben Belec","role":"Principal","linkedinURL":"","initials":"BB","avatarBgColor":"#A32D2D"},{"fullName":"Aaron Hoffman","role":"Senior Associate","linkedinURL":"","initials":"AH","avatarBgColor":"#712B13"},{"fullName":"Jonathan Khov","role":"Associate","linkedinURL":"","initials":"JK","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"Shepherd","sector":"Fintech / Insurtech","stage":"Series B","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}],"verifiedSource":"https://www.intactfc.com/about-us/intact-ventures","lastVerifiedAt":"2026-06-15","editorialLevel":"Top 30 (full)"},{"id":"rec80","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":2002,"fundSize":{"value":100,"currency":"CAD","vintage":null},"activity":"Actif","lastDealDate":"2026-05-27","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 2002, 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 $30 from other sources. Sector focus on ICT, life sciences, advanced manufacturing.","fr":"La New Brunswick Innovation Foundation (NBIF) est un fonds evergreen de capital de risque pre-seed et seed de 100 M$ cree pour faire grandir les entreprises tech du Nouveau-Brunswick. Fondee en 2002, la NBIF opere de l'investissement direct en equite, une strategie de fonds de fonds, des fonds specialises sur la durabilite et la competitivite, et des partenariats avec les accelerateurs et incubateurs du NB. Cheques typiques de 200 a 500 k$ via actions privilegiees, ordinaires ou debentures convertibles. Activite recente : 16 investissements pour 3,2 M$ en 2024-25, en baisse par rapport a 31 deals pour 6 M$ l'annee precedente. 17 sorties de portefeuille a 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 avancee."},"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":"BDC Capital","slug":"bdc-capital"},{"name":"Concrete Ventures","slug":"concrete-ventures"}],"people":[{"fullName":"Jeff White","role":"CEO & President","linkedinURL":"https://www.linkedin.com/in/jeffreypwhitecpa/","initials":"JW","avatarBgColor":"#534AB7"},{"fullName":"Daniel Armali","role":"Vice President, Investments","linkedinURL":"https://www.linkedin.com/in/danielarmali/","initials":"DA","avatarBgColor":"#1D9E75"},{"fullName":"Laila Theriault","role":"Investment Associate","linkedinURL":"https://www.linkedin.com/in/laila-theriault/","initials":"LT","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Eigen Innovations","sector":"AI / ML","stage":"Seed","year":2014},{"name":"Beauceron Security","sector":"Cybersecurity","stage":"Seed","year":2017},{"name":"Kognitiv Spark","sector":"Deeptech / Hardware","stage":"Seed","year":2017},{"name":"Troj.AI","sector":"AI / ML","stage":"Seed","year":2020},{"name":"Versos AI","sector":"AI / ML","stage":"Seed","year":2023},{"name":"ReelData","sector":"AI / ML","stage":"Seed","year":2019},{"name":"Lastwall","sector":"Cybersecurity","stage":"Seed","year":2026}],"verifiedSource":"https://nbif.ca/about/","lastVerifiedAt":"2026-06-23","editorialLevel":"Top 30 (full)"},{"id":"rec81","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":"2026-05-26","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 healthcare-focused VC investing across Canada and North America in Seed to Series A AI-enabled MedTech and digital health, with follow-on through to exit. Fund I (originally Rowanwood Ventures, 2013) reached $100M at its 2019 second close; the firm now invests from Fund II (size undisclosed). Recent deals include Adenocyte (pancreatic cancer detection, May 2026), Cosm Medical and Segmed.","fr":"Fonds torontois spécialisé en santé numérique, dispositifs médicaux et technologies de la santé. iGan accompagne les fondateurs avec capital et ressources opérationnelles pour soutenir la croissance. Le Fonds I, anciennement Rowanwood, a clôturé à 100 M$ 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":"We invest in entrepreneurs disrupting healthcare.","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":"Founder & Managing Partner","linkedinURL":"","initials":"SI","avatarBgColor":"#534AB7"},{"fullName":"Dr. Lorena Tora","role":"Chief Medical Officer","linkedinURL":"","initials":"DL","avatarBgColor":"#1D9E75"},{"fullName":"Billy Lai","role":"Venture Partner","linkedinURL":"","initials":"BL","avatarBgColor":"#A32D2D"},{"fullName":"Joel Finlayson","role":"Venture Partner","linkedinURL":"","initials":"JF","avatarBgColor":"#712B13"},{"fullName":"Wendi Zhao","role":"Director, Investment & Portfolio Management","linkedinURL":"","initials":"WZ","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"Adenocyte","sector":"Healthtech / Biotech","stage":"Seed","year":2026},{"name":"Cosm Medical","sector":"Healthtech / Biotech","stage":"Seed","year":2025},{"name":"Flosonics Medical","sector":"Healthtech / Biotech","stage":"Series C","year":2024},{"name":"Segmed","sector":"Healthtech / Biotech","stage":"Series A","year":2024},{"name":"RetiSpec","sector":"Healthtech / Biotech","stage":"Series A","year":2023},{"name":"MolecuLight","sector":"Healthtech / Biotech","stage":"Growth","year":2022},{"name":"Curv Health","sector":"Healthtech / Biotech","stage":"Seed","year":2022},{"name":"Exact Imaging","sector":"Healthtech / Biotech","stage":"Growth","year":2021}],"verifiedSource":"https://iganpartners.com/about-us","lastVerifiedAt":"2026-06-15","editorialLevel":"Long tail (light)"},{"id":"rec82","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":"General Partner","linkedinURL":"https://www.linkedin.com/in/kristinamilke/","initials":"KM","avatarBgColor":"#534AB7"},{"fullName":"Shaheel Hooda","role":"General Partner","linkedinURL":"https://www.linkedin.com/in/shaheel/","initials":"SH","avatarBgColor":"#1D9E75"},{"fullName":"Mark Benning","role":"General Partner","linkedinURL":"","initials":"MB","avatarBgColor":"#A32D2D"},{"fullName":"Abhay Ghatpande","role":"Principal","linkedinURL":"https://www.linkedin.com/in/abhayghatpande/","initials":"AG","avatarBgColor":"#712B13"}],"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":"Lightstrike AI","sector":"AI / ML","stage":"Seed","year":2024},{"name":"Levr","sector":"Fintech / Insurtech","stage":"Pre-seed","year":2023},{"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}],"verifiedSource":"https://sproutfund.vc/","lastVerifiedAt":"2026-06-16","editorialLevel":"Long tail (light)"},{"id":"rec83","slug":"bxventures","name":"Hard Climate (formerly BXVentures)","type":"Other","conviction":"pure-play","stages":["Pre-seed","Seed"],"sectors":["Climate / Energy","Deeptech / Hardware"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Not disclosed"},"leadFollow":"Lead","province":["QC","OTHER"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2022,"fundSize":null,"activity":"Actif","lastDealDate":"2025-09-05","website":"https://www.hardclimate.com/","linkedinURL":"https://www.linkedin.com/company/hardclimate/","logo":"/assets/vc-logos/bxventures.png?v=4","logoBgColor":"#712B13","thesis":{"en":"Hard Climate (formerly BXVentures) is a Montreal-based venture studio: it does not simply invest in founders' companies but co-founds and operates new ventures itself, sourcing breakthrough technology directly from university and public research labs. It takes a hands-on operational co-founder role, acquires or licenses the underlying IP, provides initial capital, and de-risks each company from early lab stage (around TRL4) to field prototype (around TRL7). It focuses on hard, industrial climate and deeptech challenges: energy efficiency and decarbonization, batteries and long-duration energy storage, carbon capture and CCUS, and resource optimization. For a founder, this means co-building a company alongside an operator that holds a substantial equity stake and runs day-to-day venture-building, not pitching an existing startup to a passive fund. Its preferred outcome is a corporate trade sale once the technology is industrially mature.","fr":"Hard Climate (anciennement BXVentures) est un venture studio base a Montreal: il ne se contente pas d'investir dans les entreprises de fondateurs, il co-fonde et exploite lui-meme de nouvelles entreprises, en sourcant des technologies de rupture directement dans les laboratoires universitaires et publics. Il joue un role de cofondateur operationnel, acquiert ou licencie la PI sous-jacente, fournit le capital initial et de-risque chaque entreprise du stade laboratoire (environ TRL4) au prototype terrain (environ TRL7). Son focus: les defis climatiques et deeptech industriels durs: efficacite energetique et decarbonation, batteries et stockage longue duree, capture et valorisation du carbone, optimisation des ressources. Pour un fondateur, cela signifie co-batir une entreprise aux cotes d'un operateur qui detient une participation substantielle et pilote la construction au quotidien, pas presenter une startup existante a un fonds passif. Sa sortie privilegiee est une vente strategique a un acteur industriel une fois la technologie mature."},"tagline":{"en":"Building hard industrial climate tech from lab to market.","fr":"Batir la cleantech industrielle dure, du labo au marche."},"valueAdd":{"en":["Operational co-founder, not a passive investor: takes hands-on day-to-day venture-building roles","Deep-tech and hard-industrial climate focus where SaaS-style scaling does not apply","Direct pipeline from elite university labs (McGill, Universite de Sherbrooke) with structured IP acquisition","Systematic de-risking methodology from TRL4 to TRL7 with an industrial trade-sale exit in mind","Backed by an international group (Europe and Canada) bringing corporate, advisory and industrial-buyer networks"],"fr":["Cofondateur operationnel, pas un investisseur passif: prend des roles concrets de construction au quotidien","Focus deeptech et climat industriel dur ou la mise a l'echelle de type SaaS ne s'applique pas","Pipeline direct des laboratoires universitaires d'elite (McGill, Universite de Sherbrooke) avec acquisition structuree de la PI","Methodologie systematique de de-risquage de TRL4 a TRL7 visant une sortie par vente industrielle","Adosse a un groupe international (Europe et Canada) apportant des reseaux corporatifs, conseil et acheteurs industriels"]},"followOnNarrative":{"en":"Hard Climate co-pilots each venture as an active operational co-founder rather than a hands-off backer. It supplies initial capital, recruits executive teams and engineers, validates product-market fit with industrial buyers, navigates IP and regulatory strategy, and connects ventures to tier-one industry partners and follow-on investors. Support is intensive in the early years (it cites roughly two years of close day-to-day involvement) and is designed to carry a lab technology to a field prototype ready for industrial scale-up.","fr":"Hard Climate co-pilote chaque entreprise comme un cofondateur operationnel actif plutot qu'un bailleur a distance. Il fournit le capital initial, recrute les equipes de direction et les ingenieurs, valide l'adequation produit-marche aupres d'acheteurs industriels, navigue la strategie de PI et reglementaire, et connecte les entreprises a des partenaires industriels de premier rang et a des investisseurs de suivi. Le soutien est intensif les premieres annees (environ deux ans d'implication quotidienne rapprochee) et vise a porter une technologie de laboratoire jusqu'a un prototype terrain pret a la mise a l'echelle industrielle."},"keyQuestions":{"en":["Does your technology originate from a university or public research lab, and what is its current Technology Readiness Level (roughly TRL4 to TRL5)?","What concrete industrial pain point and quantifiable techno-economic advantage (cost saving plus emissions reduction) does it deliver to a real industrial buyer?","Are you open to a venture-studio co-founder structure in which Hard Climate holds a substantial equity stake, controls the IP transfer, and co-pilots operations from day one?"],"fr":["Votre technologie provient-elle d'un laboratoire universitaire ou public, et quel est son niveau de maturite technologique actuel (environ TRL4 a TRL5)?","Quel point de douleur industriel concret et quel avantage technico-economique mesurable (economie de cout plus reduction d'emissions) offre-t-elle a un acheteur industriel reel?","Etes-vous ouvert a une structure de cofondateur en venture studio ou Hard Climate detient une participation substantielle, controle le transfert de PI et co-pilote les operations des le depart?"]},"coInvestors":[{"name":"McGill University","slug":"mcgill-university"},{"name":"Universite de Sherbrooke","slug":"universite-de-sherbrooke"},{"name":"Centech","slug":"centech"},{"name":"Fathom Fund","slug":"fathom-fund"},{"name":"Amplify Capital","slug":"amplify-capital"},{"name":"Antares Ventures","slug":"antares-ventures"}],"people":[{"fullName":"Marc Guilbert","role":"Founder & CEO","linkedinURL":"https://www.linkedin.com/in/marcguilbert/","initials":"MG","avatarBgColor":"#534AB7"}],"portfolio":[{"name":"FeX Energy","sector":"Climate / Energy","stage":"Seed","year":2025},{"name":"Secant Fuel","sector":"Climate / Energy","stage":"Spinoff","year":2024}],"verifiedSource":"https://www.hardclimate.com/","lastVerifiedAt":"2026-06-01","editorialLevel":"Long tail (light)"},{"id":"rec84","slug":"investissement-quebec","name":"Investissement Québec","type":"Public","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":"Follow","province":["QC"],"hq":{"city":"Montreal","region":"QC"},"languages":["FR","EN"],"founded":1998,"fundSize":null,"activity":"Tres actif","lastDealDate":"2026-04-16","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 state-owned investment arm; backs startups from pre-seed to growth via direct capital, debt and its $200M Fonds Impulsion early-stage fund.","fr":"Le fonds public d'amorçage du Québec, 200 M$ 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":"Desjardins Capital","slug":"desjardins-capital"},{"name":"Anges Quebec","slug":"anges-quebec"},{"name":"ACET Capital","slug":"acet-capital"},{"name":"Quantonation","slug":"quantonation"},{"name":"Quantacet","slug":"quantacet"},{"name":"Fidelity Investments Canada","slug":"fidelity-investments-canada"}],"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":"Vention","sector":"Deeptech / Hardware","stage":"Growth","year":2026},{"name":"Opalia","sector":"Climate / Energy","stage":"Seed","year":2026},{"name":"SBQuantum","sector":"Deeptech / Hardware","stage":"Seed","year":2026},{"name":"Sofistic AI","sector":"Fintech / Insurtech","stage":"Seed","year":2026},{"name":"Encephalx","sector":"Healthtech / Biotech","stage":"Pre-seed","year":2026},{"name":"Epik Eats","sector":"Marketplace / Consumer","stage":"Seed","year":2026},{"name":"Find Therapeutics","sector":"Healthtech / Biotech","stage":"Seed","year":2026}],"verifiedSource":"https://www.investquebec.com/fr/financement/programmes-gouvernementaux/le-fonds-impulsion","lastVerifiedAt":"2026-06-23","editorialLevel":"Top 30 (full)"},{"id":"rec85","slug":"walter-gam","name":"Walter GAM","type":"Other","conviction":"generaliste","stages":[],"sectors":["Generalist (no thesis)"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Not disclosed"},"leadFollow":"Both","province":["QC","OTHER"],"hq":{"city":"Westmount","region":"QC"},"languages":["EN","FR"],"founded":2018,"fundSize":null,"activity":"Actif","lastDealDate":null,"website":"https://walter-gam.com/en/","linkedinURL":"https://www.linkedin.com/company/walter-gam","logo":"/assets/vc-logos/walter-gam.png?v=4","logoBgColor":"#14B8A6","thesis":{"en":"Walter Global Asset Management is a Montreal-based, globally diversified private equity platform that takes customized minority (GP-stakes) positions in boutique asset managers, fund managers, distributors and wealth-management firms. It is a manager of managers, not a direct startup venture capital fund, so an operating-company founder does not pitch Walter GAM for a startup cheque; the relevant counterparty is an established investment-management business. Its model emphasizes partnership over integration: each affiliate keeps its brand, culture and entrepreneurial independence while gaining development capital plus strategic support in distribution, business strategy, human capital and operations. The platform spans 15 portfolio firms across Canada, the United States, France and the United Kingdom, including Auspice, Bonnefield, Innocap, LFIS, LionGuard, Madryn, Montrusco Bolton, Quadra, Saranac and Validus. It sits within the broader Walter ecosystem alongside Walter Capital Partners (private equity for SMEs) and Walter Public Investments; founders should not confuse Walter GAM with those separate vehicles. In short, if you run a high-potential asset-management firm seeking patient growth capital and distribution muscle, Walter GAM is a fit; if you are a startup raising a seed or Series A, it is not the right door.","fr":"Walter Global Asset Management est une plateforme de private equity montrealaise, diversifiee a l'echelle mondiale, qui prend des participations minoritaires sur mesure (GP stakes) dans des gestionnaires d'actifs boutique, des gestionnaires de fonds, des distributeurs et des firmes de gestion de patrimoine. C'est un gestionnaire de gestionnaires, pas un fonds de capital de risque qui investit dans des startups: un fondateur d'entreprise operationnelle ne pitche pas Walter GAM pour un cheque, le bon interlocuteur est une firme de gestion d'actifs etablie. Son modele privilegie le partenariat plutot que l'integration: chaque affilie garde sa marque, sa culture et son independance entrepreneuriale tout en obtenant du capital de developpement et un soutien strategique en distribution, strategie d'affaires, capital humain et operations. La plateforme compte 15 firmes au portefeuille au Canada, aux Etats-Unis, en France et au Royaume-Uni (Auspice, Bonnefield, Innocap, LFIS, LionGuard, Madryn, Montrusco Bolton, Quadra, Saranac, Validus). Elle s'inscrit dans l'ecosysteme Walter aux cotes de Walter Capital Partners (PE pour PME) et Walter Public Investments; a ne pas confondre Walter GAM avec ces vehicules distincts. Bref, si vous dirigez une firme de gestion d'actifs a fort potentiel cherchant un capital de croissance patient et une force de distribution, Walter GAM est un fit; si vous etes une startup en amorcage, ce n'est pas la bonne porte."},"tagline":{"en":"GP-stakes partner to boutique asset managers.","fr":"Partenaire en participations (GP stakes) des gestionnaires d'actifs boutique."},"valueAdd":{"en":["Specialist focus exclusively on the asset-management industry (GP-stakes, manager of managers), not generalist private equity","Patient, permanent capital with a non-controlling minority model that preserves each affiliate's brand, culture and independence","Operating expertise from founders who helped scale Fiera Capital from roughly $5B to roughly $120B AUM, including 15-plus acquisitions across North America and Europe","Hands-on value creation in distribution, business strategy, human capital and operations, not just capital","Backed by the multigenerational Walter Group ecosystem (Somers family) providing balance-sheet stability and a community of affiliated managers"],"fr":["Focus specialise exclusivement sur l'industrie de la gestion d'actifs (GP stakes, gestionnaire de gestionnaires), pas du private equity generaliste","Capital permanent et patient avec un modele minoritaire non controlant preservant la marque, la culture et l'independance de chaque affilie","Expertise operationnelle de fondateurs ayant fait croitre Fiera Capital d'environ 5 G$ a environ 120 G$ d'AUM, dont plus de 15 acquisitions en Amerique du Nord et en Europe","Creation de valeur concrete en distribution, strategie d'affaires, capital humain et operations, pas seulement du capital","Adosse a l'ecosysteme multigenerationnel du Groupe Walter (famille Somers) offrant stabilite de bilan et une communaute de gestionnaires affilies"]},"followOnNarrative":{"en":"Walter GAM positions itself as a permanent, active but non-controlling partner that goes beyond capital. Alongside development capital, it provides strategic support in distribution and marketing, business strategy, human-capital development and operational excellence, with senior principals acting as an extension of the affiliate's own team and frequently taking board seats. The intent is to help boutique managers grow AUM, revenue, profitability and enterprise value while keeping their independence and investment edge intact.","fr":"Walter GAM se positionne comme un partenaire permanent, actif mais non controlant, qui va au-dela du capital. En plus du capital de developpement, il fournit un soutien strategique en distribution et marketing, strategie d'affaires, developpement du capital humain et excellence operationnelle, avec des principaux seniors agissant comme une extension de l'equipe de l'affilie et siegeant souvent au conseil. L'intention est d'aider les gestionnaires boutique a accroitre AUM, revenus, rentabilite et valeur d'entreprise tout en preservant leur independance et leur edge d'investissement."},"keyQuestions":{"en":["For asset-management firms (not startups): 1. What is your verifiable long-term, risk-adjusted track record and your demonstrated ability to generate alpha or differentiated returns?","What is the scalability of your strategy and platform: can you absorb meaningfully more AUM with minimal incremental overhead, and where are the untapped distribution or growth markets?","Are you, as principals, aligned with a permanent, non-controlling minority partner who preserves your brand, culture and independence?"],"fr":["Pour les firmes de gestion d'actifs (pas les startups): 1. Quel est votre historique verifiable a long terme, ajuste au risque, et votre capacite demontree a generer de l'alpha ou des rendements differencies?","Quelle est la scalabilite de votre strategie et de votre plateforme: pouvez-vous absorber un AUM nettement superieur avec peu de frais incrementaux, et ou sont les marches de distribution ou de croissance inexploites?","Etes-vous, comme principaux, alignes avec un partenaire minoritaire permanent et non controlant qui preserve votre marque, votre culture et votre independance?"]},"coInvestors":[{"name":"Auspice Capital Advisors","slug":"auspice-capital-advisors"},{"name":"Bonnefield Financial","slug":"bonnefield-financial"},{"name":"Brightspark Ventures","slug":"brightspark-ventures"},{"name":"Brio","slug":"brio"},{"name":"Innocap","slug":"innocap"},{"name":"Kilgour Williams Capital","slug":"kilgour-williams-capital"},{"name":"LFIS Capital","slug":"lfis-capital"},{"name":"LionGuard Capital Management","slug":"lionguard-capital-management"},{"name":"Madryn Asset Management","slug":"madryn-asset-management"},{"name":"Montrusco Bolton Investments","slug":"montrusco-bolton-investments"},{"name":"Nalmont Capital","slug":"nalmont-capital"},{"name":"Quadra Capital Partners","slug":"quadra-capital-partners"},{"name":"Samara","slug":"samara"},{"name":"Saranac Partners","slug":"saranac-partners"},{"name":"Validus Risk Management","slug":"validus-risk-management"}],"people":[{"fullName":"Sylvain Brosseau","role":"CEO and Founding Partner","linkedinURL":"https://www.linkedin.com/in/sylvain-brosseau-a44166166/","initials":"SB","avatarBgColor":"#534AB7"},{"fullName":"Martin Dufresne","role":"President and Managing Partner","linkedinURL":"https://www.linkedin.com/in/martin-dufresne-77116421/","initials":"MD","avatarBgColor":"#1D9E75"},{"fullName":"Julie Lalonde","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/julie-lalonde-asc-cdir-cfa/","initials":"JL","avatarBgColor":"#A32D2D"},{"fullName":"Charles Lemay","role":"Partner","linkedinURL":"https://www.linkedin.com/in/charles-lemay-652b024/","initials":"CL","avatarBgColor":"#712B13"},{"fullName":"Patrick Lorange","role":"Partner","linkedinURL":"https://www.linkedin.com/in/patricklorange/","initials":"PL","avatarBgColor":"#0EA5E9"}],"portfolio":[],"verifiedSource":"https://walter-gam.com/en/","lastVerifiedAt":"2026-07-03","editorialLevel":""},{"id":"rec86","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":"Both","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2020,"fundSize":null,"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/sa-ad-shah-a650441b7/","initials":"SS","avatarBgColor":"#1D9E75"},{"fullName":"Sri Teja Mullapudi","role":"Principal, Fund Investments","linkedinURL":"https://www.linkedin.com/in/sri-teja-mullapudi/","initials":"ST","avatarBgColor":"#A32D2D"},{"fullName":"Richard Cheung","role":"General Counsel","linkedinURL":"https://www.linkedin.com/in/richardycheung","initials":"RC","avatarBgColor":"#712B13"}],"portfolio":[{"name":"CaaMTech","sector":"Healthtech / Biotech","stage":"Series A","year":2021},{"name":"DAMONA Pharmaceuticals","sector":"Healthtech / Biotech","stage":"Seed","year":2022},{"name":"Apollo Neuroscience","sector":"Healthtech / Biotech","stage":"NC","year":null},{"name":"Beckley Psytech","sector":"Healthtech / Biotech","stage":"Exit 2025 (atai)","year":null},{"name":"Alexander Shulgin Research Institute","sector":"Healthtech / Biotech","stage":"Seed","year":2021},{"name":"COMPASS Pathways","sector":"Healthtech / Biotech","stage":"Exit (IPO)","year":null},{"name":"MindMed","sector":"Healthtech / Biotech","stage":"Exit (IPO)","year":null},{"name":"Bexson Biomedical","sector":"Healthtech / Biotech","stage":"NC","year":null}],"verifiedSource":"https://noeticfund.com/","lastVerifiedAt":"2026-06-16","editorialLevel":"Long tail (light)"},{"id":"rec87","slug":"arctern-ventures","name":"ArcTern Ventures","type":"VC","conviction":"pure-play","stages":["Series A","Series B+"],"sectors":["Climate / Energy"],"ticket":{"min":5000000,"max":10000000,"currency":"CAD","label":"$2M-$10M"},"leadFollow":"Lead","province":["ON","OTHER"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2012,"fundSize":{"value":450,"currency":"CAD","vintage":2024},"activity":"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 Series A and Series B in companies decarbonizing energy, industry, transportation, agriculture and buildings. Cheques of $5M to $10M, frequently as lead, with a new Fund III closed at $450M CAD (US$335M) in 2024 from major institutional LPs. Offices in Toronto, Oslo and San Francisco provide deep access to industrial experts, corporate partners and pilot customers in Europe and North America. The team targets scientific and industrial founders capable of delivering measurable carbon impact at scale.","fr":"ArcTern Ventures est un pure-play climate tech, l'un des plus grands fonds VC dedies au climat au monde. Investit en serie A et serie B dans les entreprises qui decarbonent l'energie, l'industrie, les transports, l'agriculture et les batiments. Cheques de 5 M$ 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":"","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":[],"people":[{"fullName":"Murray McCaig","role":"Co-Founder & Managing Partner","linkedinURL":"https://ca.linkedin.com/in/mmccaig","initials":"MM","avatarBgColor":"#534AB7"},{"fullName":"Tom Rand","role":"Co-Founder & 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":"Hydrostor","sector":"Climate / Energy","stage":"Series B+","year":null},{"name":"Normal Computing","sector":"Deeptech / Hardware","stage":"NC","year":null},{"name":"Cyclic Materials","sector":"Climate / Energy","stage":"NC","year":null},{"name":"King Energy","sector":"Climate / Energy","stage":"NC","year":null},{"name":"Harbinger","sector":"Climate / Energy","stage":"NC","year":null},{"name":"Liminal Insights","sector":"Climate / Energy","stage":"NC","year":null},{"name":"Sheertex","sector":"Climate / Energy","stage":"NC","year":null}],"verifiedSource":"https://www.arcternventures.com/team/","lastVerifiedAt":"2026-06-02","editorialLevel":"Top 30 (full)"},{"id":"rec88","slug":"roynat-capital","name":"Roynat Capital","type":"Other","conviction":"generaliste","stages":["Series B+"],"sectors":["Generalist (no thesis)"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Not disclosed"},"leadFollow":"Both","province":["ON","QC","BC","AB","MB","NS"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN","FR"],"founded":1962,"fundSize":null,"activity":"Actif","lastDealDate":"2026-03-04","website":"https://www.roynat.com/ca/en.html","linkedinURL":"https://www.linkedin.com/company/roynat-capital/","logo":"/assets/vc-logos/roynat-capital.png?v=4","logoBgColor":"#14B8A6","thesis":{"en":"Roynat Capital is a mid-market private debt and mezzanine lender, and a growth-equity investor, that is a wholly owned subsidiary of Scotiabank, not an early-stage startup VC. It provides senior term loans (asset-secured and cash-flow), subordinated and mezzanine debt, and minority equity to established, revenue-generating Canadian companies, typically for growth and expansion, acquisitions and consolidation, management or leveraged buyouts, succession and ownership transition, and shareholder liquidity. Founders should approach Roynat only if they run a cash-flowing business that can service debt, not a pre-revenue startup pitching for seed or Series A equity. Its specialized Technology & Innovation Banking unit does extend venture debt to venture-backed or bootstrapped tech companies, but even there the product is debt, not a primary equity round. The right fit is an owner-operator who wants flexible, patient, relationship-driven capital, including the deeper Scotiabank banking relationship, to fund growth, an acquisition, a buyout or a partial cash-out.","fr":"Roynat Capital est un preteur de dette privee et de financement mezzanine du marche intermediaire, et un investisseur en capital de croissance, filiale en propriete exclusive de la Banque Scotia, pas un VC early-stage. Il offre des prets a terme de premier rang (garantis par actifs ou sur flux de tresorerie), de la dette subordonnee et mezzanine, et des participations minoritaires a des entreprises canadiennes etablies et generatrices de revenus, typiquement pour la croissance et l'expansion, les acquisitions et la consolidation, les rachats par la direction ou par effet de levier, la releve et le transfert de propriete, et la liquidite des actionnaires. Les fondateurs ne devraient l'approcher que s'ils dirigent une entreprise generatrice de flux de tresorerie capable de servir une dette, pas une startup pre-revenus en quete d'equity d'amorcage. Son unite specialisee Technology & Innovation Banking offre de la dette de risque a des entreprises tech financees ou bootstrappees, mais meme la, le produit est de la dette, pas un tour d'equity principal. Le bon profil est un proprietaire-exploitant cherchant un capital flexible, patient et axe sur la relation, incluant la relation bancaire plus large de la Banque Scotia, pour financer croissance, acquisition, rachat ou un retrait partiel."},"tagline":{"en":"Patient capital for established mid-market businesses.","fr":"Capital patient pour les entreprises etablies du marche intermediaire."},"valueAdd":{"en":["Full capital spectrum under one roof, from senior term debt through subordinated and mezzanine debt to equity","Scotiabank ownership giving access to a full suite of banking, wealth and treasury services","Over 60 years of mid-market lending history and a deep relationship-banking model","Flexible, patient, highly customized structures rather than off-the-shelf terms","National footprint with regional teams across Western Canada, Ontario, Quebec and Atlantic, plus a dedicated venture-debt practice"],"fr":["Spectre complet de capital sous un meme toit, de la dette de premier rang a la dette subordonnee et mezzanine jusqu'a l'equity","Propriete de la Banque Scotia donnant acces a une gamme complete de services bancaires, de gestion de patrimoine et de tresorerie","Plus de 60 ans d'historique de pret au marche intermediaire et un modele de banque relationnelle","Structures flexibles, patientes et hautement personnalisees plutot que des termes standardises","Empreinte nationale avec des equipes regionales dans l'Ouest, l'Ontario, le Quebec et l'Atlantique, plus une pratique dediee de dette de risque"]},"followOnNarrative":{"en":"Roynat positions itself on relationship banking: its regional managers take time to understand the business and the owner's goals before structuring capital, and stay involved across the life of the financing. For equity deals, Roynat Equity Partners provides patient capital plus advice and contact networks, working closely with management on growth, acquisitions and operational milestones. Backed by Scotiabank, it can layer in broader banking, wealth and succession-planning support around the core financing.","fr":"Roynat se positionne sur la banque relationnelle: ses gestionnaires regionaux prennent le temps de comprendre l'entreprise et les objectifs du proprietaire avant de structurer le capital, et restent impliques sur la duree du financement. Pour les transactions d'equity, Roynat Equity Partners apporte un capital patient ainsi que des conseils et des reseaux de contacts, en travaillant de pres avec la direction sur la croissance, les acquisitions et les jalons operationnels. Avec l'appui de la Banque Scotia, il peut superposer un soutien bancaire, patrimonial et de planification de la releve plus large autour du financement principal."},"keyQuestions":{"en":["Is your business established and generating recurring revenue and positive (or near-positive) cash flow that can service debt, rather than pre-revenue?","What is the specific use of capital (growth, acquisition, management or leveraged buyout, succession, refinancing or shareholder liquidity), and how much do you need?","Do you want debt or mezzanine financing that limits dilution (and possibly an ongoing Scotiabank banking relationship), as opposed to selling a primary equity round?"],"fr":["Votre entreprise est-elle etablie et generatrice de revenus recurrents et de flux de tresorerie positifs (ou proches) pouvant servir une dette, plutot que pre-revenus?","Quel est l'usage precis du capital (croissance, acquisition, rachat par la direction ou par effet de levier, releve, refinancement ou liquidite des actionnaires), et combien vous faut-il?","Voulez-vous du financement par dette ou mezzanine qui limite la dilution (et possiblement une relation bancaire continue avec la Banque Scotia), plutot que de vendre un tour d'equity principal?"]},"coInvestors":[{"name":"Scotiabank","slug":"scotiabank"},{"name":"PFM Capital","slug":"pfm-capital"},{"name":"SeaFort Capital","slug":"seafort-capital"}],"people":[{"fullName":"Matt Tedford","role":"Senior Vice-President and Head, Roynat Capital","linkedinURL":"","initials":"MT","avatarBgColor":"#534AB7"},{"fullName":"Scarlett Crockatt","role":"Vice-President and Head, Business Lending","linkedinURL":"","initials":"SC","avatarBgColor":"#1D9E75"},{"fullName":"David Rozin","role":"Vice President and Head, Technology & Innovation Banking","linkedinURL":"","initials":"DR","avatarBgColor":"#A32D2D"},{"fullName":"Mark Saidi","role":"Vice-President, Risk Management","linkedinURL":"","initials":"MS","avatarBgColor":"#712B13"},{"fullName":"Mark Brodkin","role":"Managing Director and Head, Roynat Equity Partners","linkedinURL":"","initials":"MB","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"Agnora","sector":"Deeptech / Hardware","stage":"Growth","year":null},{"name":"Spectrum Health Care","sector":"Healthtech / Biotech","stage":"Growth","year":null},{"name":"Allmar","sector":"Deeptech / Hardware","stage":"Growth","year":2026},{"name":"VODA","sector":"Marketplace / Consumer","stage":"Growth","year":null},{"name":"LOGISTEC","sector":"Generalist (no thesis)","stage":"Growth","year":null},{"name":"All-Fab Building Components","sector":"Deeptech / Hardware","stage":"Exit 2025 (RONA)","year":null},{"name":"LifeSpeak","sector":"SaaS / Vertical SaaS","stage":"Exit","year":2021},{"name":"Kivuto Solutions","sector":"SaaS / Vertical SaaS","stage":"Exit","year":null}],"verifiedSource":"https://www.roynat.com/ca/en.html","lastVerifiedAt":"2026-07-03","editorialLevel":""},{"id":"rec89","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":null,"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":"Enio Lazzer","role":"COO & CFO","linkedinURL":"","initials":"EL","avatarBgColor":"#1D9E75"},{"fullName":"Gary Yurkovich","role":"Executive Chairman & Founder","linkedinURL":"","initials":"GY","avatarBgColor":"#A32D2D"},{"fullName":"Will Hutchins","role":"Head of Originations","linkedinURL":"https://www.linkedin.com/in/willhutchins/","initials":"WH","avatarBgColor":"#712B13"},{"fullName":"Will Jin","role":"Head of Credit","linkedinURL":"","initials":"WJ","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}],"verifiedSource":"https://espressocapital.com/about/","lastVerifiedAt":"2026-06-02","editorialLevel":"Top 30 (full)"},{"id":"rec90","slug":"cti-life-sciences","name":"CTI Life Sciences","type":"VC","conviction":"pure-play","stages":["Seed","Series A","Series B+"],"sectors":["Healthtech / Biotech"],"ticket":{"min":5000000,"max":15000000,"currency":"CAD","label":""},"leadFollow":"Lead","province":["QC","ON","OTHER"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2006,"fundSize":{"value":100,"currency":"CAD","vintage":2021},"activity":"Actif","lastDealDate":"2026-02-10","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":"Montreal biotech VC deploying its third fund (CTI LSF III, $100M CAD first close, 2021), backing pre-clinical and clinical-stage therapeutics across Canada, the US and Europe, often as lead and company builder, 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, aux Etats-Unis et en Europe, 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":[{"fullName":"Ken Pastor","role":"Managing Partner","linkedinURL":"","initials":"KP","avatarBgColor":"#534AB7"},{"fullName":"Laurence Rulleau","role":"Managing Partner","linkedinURL":"","initials":"LR","avatarBgColor":"#1D9E75"},{"fullName":"Youssef Bennani","role":"Managing Partner","linkedinURL":"","initials":"YB","avatarBgColor":"#A32D2D"},{"fullName":"Shermaine Tiley","role":"Managing Partner","linkedinURL":"","initials":"ST","avatarBgColor":"#712B13"},{"fullName":"Dana Matzen","role":"Partner","linkedinURL":"","initials":"DM","avatarBgColor":"#0EA5E9"},{"fullName":"Xin Hang","role":"Senior Principal","linkedinURL":"","initials":"XH","avatarBgColor":"#F59E0B"},{"fullName":"Radhika Gupta","role":"Principal","linkedinURL":"","initials":"RG","avatarBgColor":"#EC4899"}],"portfolio":[{"name":"Find Therapeutics","sector":"Healthtech / Biotech","stage":"Series A","year":2026},{"name":"Kainova Therapeutics","sector":"Healthtech / Biotech","stage":"Series B","year":2026},{"name":"Oligon Therapeutics","sector":"Healthtech / Biotech","stage":"2025","year":null},{"name":"Ability Pharmaceuticals","sector":"Healthtech / Biotech","stage":"NC","year":null},{"name":"Aeovian Pharmaceuticals","sector":"Healthtech / Biotech","stage":"NC","year":null},{"name":"DalCor Pharmaceuticals","sector":"Healthtech / Biotech","stage":"NC","year":null},{"name":"enGene","sector":"Healthtech / Biotech","stage":"NC","year":null},{"name":"Epitopea","sector":"Healthtech / Biotech","stage":"NC","year":null},{"name":"Glycomine","sector":"Healthtech / Biotech","stage":"NC","year":null},{"name":"Phenomic AI","sector":"Healthtech / Biotech","stage":"NC","year":null},{"name":"Profound Medical","sector":"Healthtech / Biotech","stage":"NC","year":null},{"name":"Thryv Therapeutics","sector":"Healthtech / Biotech","stage":"NC","year":null}],"verifiedSource":"https://www.ctisciences.com/","lastVerifiedAt":"2026-07-03","editorialLevel":"Long tail (light)"},{"id":"rec91","slug":"tidal-venture-partners","name":"Tidal Venture Partners","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed"],"sectors":["SaaS / Vertical SaaS","AI / ML","Healthtech / Biotech"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Not disclosed"},"leadFollow":"Both","province":["NS","NB","NL","PE"],"hq":{"city":"Halifax","region":"NS"},"languages":["EN"],"founded":2022,"fundSize":null,"activity":"Selectif","lastDealDate":"2024-06-28","website":"https://tidalventurepartners.com/","linkedinURL":"https://ca.linkedin.com/company/tidal-venture-partners","logo":"/assets/vc-logos/tidal-venture-partners.png?v=4","logoBgColor":"#1C6E8C","thesis":{"en":"Tidal Venture Partners is a Halifax fund launched in 2022 by Ian Whytock and co-founders, focused on the emerging early-stage ecosystem of Atlantic Canada. It writes Pre-seed and Seed cheques across software, AI and healthtech, and reports that for every $1 it invests, portfolio companies attract about $8 more in dilutive and non-dilutive funding ($21.75M to date). It has built a portfolio of 8 companies in two years, including Mimosa Diagnostics and Innerlogic. It often co-invests with regional partners such as Island Capital Partners.","fr":"Tidal Venture Partners est un fonds de Halifax lancé en 2022 par Ian Whytock et ses cofondateurs, axé sur l'écosystème early-stage émergent du Canada atlantique. Il émet des chèques Pre-seed et Seed dans le logiciel, l'IA et la healthtech, et rapporte que pour chaque 1$ investi, les entreprises de son portefeuille attirent environ 8$ de plus en financement dilutif et non dilutif (21,75M$ à ce jour). Il a bâti un portefeuille de 8 entreprises en deux ans, dont Mimosa Diagnostics et Innerlogic. Il co-investit souvent avec des partenaires régionaux comme Island Capital Partners."},"tagline":{"en":"Atlantic Canada's pre-seed and seed fund","fr":"Le fonds de pré-amorçage et d'amorçage du Canada atlantique"},"valueAdd":{"en":["Atlantic early-stage focus","8x follow-on funding leverage","Pre-seed and Seed cheques","Regional co-investor network"],"fr":["Focus early-stage atlantique","Effet de levier de 8x sur le financement de suivi","Chèques Pre-seed et Seed","Réseau de co-investisseurs régionaux"]},"followOnNarrative":{"en":"","fr":""},"keyQuestions":{"en":[],"fr":[]},"coInvestors":[{"name":"Island Capital Partners","slug":"island-capital-partners"}],"people":[],"portfolio":[{"name":"Mimosa Diagnostics","sector":"Healthtech / Biotech","stage":"Seed","year":null},{"name":"Innerlogic","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2024},{"name":"TheProgram.ai","sector":"AI / ML","stage":"Seed","year":2022}],"verifiedSource":"https://tidalventurepartners.com/","lastVerifiedAt":"2026-06-29","editorialLevel":"Long tail (light)"},{"id":"rec92","slug":"momentum-ventures","name":"Momentum Ventures","type":"Other","conviction":"tech-actif","stages":["Pre-seed","Seed"],"sectors":["Marketplace / Consumer","AI / ML"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Not disclosed"},"leadFollow":"Lead","province":["QC"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2014,"fundSize":null,"activity":"Actif","lastDealDate":null,"website":"https://www.mventures.ca","linkedinURL":"https://www.linkedin.com/company/momentumventuresglobal/","logo":"/assets/vc-logos/momentum-ventures.png?v=4","logoBgColor":"#8B5CF6","thesis":{"en":"Momentum Ventures is a Montreal venture studio, not a fund: it co-founds, builds and operates its own travel-tech and marketplace companies in-house rather than writing investment cheques into outside startups. For founders, this means you do not pitch for a cheque; you join (often by invitation or through an entrepreneur-seeking program) to build a company alongside the studio, which supplies the capital, the back-office (legal, accounting, IT) and a playbook proven on FlightHub and justfly.com. The studio self-funds each venture from inception to exit and historically produces roughly one startup per year to concentrate its execution advantage. Equity is shared with operating founders via sweat equity, with more upside unlocked at milestones. Its focus is consumer travel marketplaces and adjacent execution-driven niches with a clear short-term path to profitability.","fr":"Momentum Ventures est un venture studio montrealais, pas un fonds: il co-fonde, batit et exploite ses propres entreprises de voyage et de marketplace en interne plutot que d'investir dans des startups externes. Pour les fondateurs, cela signifie que vous ne presentez pas un projet pour un cheque; vous rejoignez (souvent sur invitation ou via un programme de recrutement d'entrepreneurs) pour batir une entreprise aux cotes du studio, qui fournit le capital, l'infrastructure administrative (juridique, comptabilite, TI) et un playbook eprouve sur FlightHub et justfly.com. Le studio autofinance chaque entreprise de l'origine a la sortie et produit historiquement environ une startup par an pour concentrer son avantage d'execution. L'equity est partagee avec les fondateurs operateurs via du sweat equity, avec plus de potentiel debloque aux jalons. Son focus: les marketplaces de voyage grand public et des niches adjacentes orientees execution avec un chemin clair vers la rentabilite."},"tagline":{"en":"The studio that builds travel companies in-house.","fr":"Le studio qui batit ses entreprises de voyage en interne."},"valueAdd":{"en":["Self-funded from inception to exit, so portfolio companies never have to chase external financing to keep building","Deep operating playbook proven by scaling FlightHub into one of North America's largest online travel agencies","Full in-house back-office (legal, accounting, IT) plus a network of experienced entrepreneurs","Deliberately low volume (about one venture per year) to concentrate execution and product quality","Founder-friendly equity via sweat equity and milestone-based upside, with the studio absorbing much of the early failure risk"],"fr":["Autofinance de l'origine a la sortie, donc les entreprises du portefeuille ne courent jamais apres un financement externe pour continuer a batir","Playbook operationnel eprouve par la mise a l'echelle de FlightHub, l'une des plus grandes agences de voyage en ligne d'Amerique du Nord","Infrastructure administrative interne complete (juridique, comptabilite, TI) plus un reseau d'entrepreneurs experimentes","Volume deliberement faible (environ une entreprise par an) pour concentrer l'execution et la qualite produit","Equity favorable aux fondateurs via sweat equity et potentiel base sur les jalons, le studio absorbant une grande partie du risque d'echec initial"]},"followOnNarrative":{"en":"Momentum Ventures backs operators it brings into the studio with internal capital from day one and removes the fundraising burden by self-funding each venture from start to exit. It pairs that capital with hands-on back-office support (legal, accounting, IT) and a network of seasoned travel and tech entrepreneurs, so founders can focus entirely on product and growth. The studio runs entrepreneur-seeking initiatives (such as its Million-Dollar challenge) and shares equity through sweat equity with additional stake unlocked at key milestones.","fr":"Momentum Ventures appuie les operateurs qu'il amene dans le studio avec du capital interne des le premier jour et supprime le fardeau de la levee en autofinancant chaque entreprise de l'origine a la sortie. Il associe ce capital a un soutien administratif concret (juridique, comptabilite, TI) et a un reseau d'entrepreneurs chevronnes du voyage et de la tech, afin que les fondateurs se concentrent entierement sur le produit et la croissance. Le studio mene des initiatives de recrutement d'entrepreneurs (comme son defi Million-Dollar) et partage l'equity via du sweat equity, avec une part additionnelle debloquee aux jalons cles."},"keyQuestions":{"en":["Are you joining to build and operate a company in-house with us (studio model), or seeking external investment for your own startup (we do the former, not the latter)?","Does your idea sit in an underexplored consumer or travel marketplace niche with a credible short-term path to profitability, the studio's go/no-go criterion?","Are you an operator uniquely wired to grow a startup from zero, and willing to share equity via sweat equity with milestone-based upside?"],"fr":["Rejoignez-vous pour batir et exploiter une entreprise en interne avec nous (modele studio), ou cherchez-vous un investissement externe pour votre propre startup (nous faisons le premier, pas le second)?","Votre idee se situe-t-elle dans une niche voyage ou marketplace sous-exploree avec un chemin credible vers la rentabilite a court terme, le critere go/no-go du studio?","Etes-vous un operateur uniquement cable pour faire croitre une startup depuis zero, et pret a partager l'equity via du sweat equity avec un potentiel base sur les jalons?"]},"coInvestors":[],"people":[{"fullName":"Matt Keezer","role":"Founder","linkedinURL":"","initials":"MK","avatarBgColor":"#534AB7"},{"fullName":"Henri Chelhot","role":"CEO","linkedinURL":"","initials":"HC","avatarBgColor":"#1D9E75"},{"fullName":"Ryan Saroli","role":"CEO, Flygreen","linkedinURL":"","initials":"RS","avatarBgColor":"#A32D2D"},{"fullName":"Nick Hart","role":"Chief Financial Officer","linkedinURL":"","initials":"NH","avatarBgColor":"#712B13"}],"portfolio":[{"name":"FlightHub","sector":"Marketplace / Consumer","stage":"2012","year":null},{"name":"justfly.com","sector":"Marketplace / Consumer","stage":"NC","year":null},{"name":"Flygreen","sector":"Marketplace / Consumer","stage":"NC","year":null},{"name":"CruiseHub","sector":"Marketplace / Consumer","stage":"NC","year":null},{"name":"Momentum AI","sector":"AI / ML","stage":"2023","year":null}],"verifiedSource":"https://www.mventures.ca","lastVerifiedAt":"2026-06-01","editorialLevel":"Long tail (light)"},{"id":"rec93","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","OTHER"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2021,"fundSize":{"value":15,"currency":"CAD","vintage":2025},"activity":"Actif","lastDealDate":"2025-08-14","website":"https://futuresight.ventures/","linkedinURL":"https://www.linkedin.com/company/futuresightventures","logo":"/assets/vc-logos/futuresight.png?v=4","logoBgColor":"#3B82F6","thesis":{"en":"Toronto and San Francisco venture studio (founded 2021) that co-founds and funds vertical B2B AI-native SaaS companies from day zero with proven founders. Pre-seed capital from the AI Company Creation Fund ($15M, final close November 2025), with a disciplined validation model across EdTech, ConstructionTech, WealthTech, Health and MedTech.","fr":"Studio de venture torontois pour les fondateurs en IA B2B verticale. FutureSight co-fonde et finance dès le jour zéro avec un AI Company Creation Fund de 15 M$ 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"}],"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 / ML","stage":"Pre-seed","year":null},{"name":"Crewscope","sector":"AI / ML","stage":"Pre-seed","year":2025},{"name":"Addie","sector":"AI / ML","stage":"Pre-seed","year":null},{"name":"CaringAI","sector":"AI / ML","stage":"Pre-seed","year":null},{"name":"Medivox","sector":"AI / ML","stage":"Pre-seed","year":null}],"verifiedSource":"https://futuresight.ventures/portfolio-companies/","lastVerifiedAt":"2026-06-16","editorialLevel":"Long tail (light)"},{"id":"rec94","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"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN","FR"],"founded":2018,"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, formed in September 2022 from the merger of RBCx (RBC's tech banking arm) and RBC Ventures. Operating four groups (banking, capital, platform, ventures), it supports Canadian tech founders across all stages, from seed strategic checks to growth equity and venture debt. It runs both internally built ventures (Mydoh, Ownr, Dr.Bill) and external investments, plus LP positions in Canadian VC funds (Highline Beta, StandUp Ventures, Active Impact Investments). Recent activity includes venture debt into pH7 Technologies (April 2026).","fr":"RBCx est la plateforme tech-banking et innovation de la Banque Royale du Canada, formée en septembre 2022 par la fusion de RBCx (le bras tech-banking de RBC) et de RBC Ventures. 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). Dernier deal : venture debt dans pH7 Technologies (au sein d'un package de Série B d'environ 55 M$ CAD), annoncé en avril 2026."},"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"}],"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":"Anush Sachdeva","role":"Senior Director, Strategy and Investments","linkedinURL":"","initials":"AS","avatarBgColor":"#A32D2D"},{"fullName":"Alex Barclay","role":"Director, Strategy and Investments","linkedinURL":"","initials":"AB","avatarBgColor":"#712B13"}],"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}],"verifiedSource":"https://www.rbcx.com/our-leadership/","lastVerifiedAt":"2026-06-03","editorialLevel":"Top 30 (full)"},{"id":"rec95","slug":"fonds-ecofuel","name":"Fonds Ecofuel","type":"VC","conviction":"pure-play","stages":["Pre-seed","Seed"],"sectors":["Climate / Energy"],"ticket":{"min":100000,"max":1500000,"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":"Montreal cleantech VC providing seed and early-stage equity for Quebec and Eastern Canada, launched July 2017 and co-founded by Cycle Capital (Andree-Lise Methot). The CAD 40.6M fund is run day-to-day by Managing Directors Richard Cloutier and Johanne Sevigny, with cheques up to $1.5M per round across a portfolio of cleantech companies.","fr":"Le Fonds Ecofuel est un fonds de capital de risque cleantech montrealais qui investit en equity au pre-amorcage et a l'amorcage dans des startups commercialisant des technologies propres. Fonde en 2017 et porte par la veterane du cleantech Andree-Lise Methot, le fonds d'environ 40 M$ detient un portefeuille d'environ 21 entreprises."},"tagline":{"en":"Seed and early-stage 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":[{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"Anges Quebec","slug":"anges-quebec"},{"name":"Active Impact Investments","slug":"active-impact-investments"},{"name":"N49P","slug":"n49p"}],"people":[{"fullName":"Richard Cloutier","role":"Managing Director","linkedinURL":"","initials":"RC","avatarBgColor":"#534AB7"},{"fullName":"Johanne Sevigny","role":"Managing Director","linkedinURL":"","initials":"JS","avatarBgColor":"#1D9E75"},{"fullName":"Serge Lavergne","role":"Venture Partner","linkedinURL":"","initials":"SL","avatarBgColor":"#A32D2D"},{"fullName":"Andree-Lise Methot","role":"Co-Founder (via Cycle Capital, non operationnelle)","linkedinURL":"","initials":"AM","avatarBgColor":"#712B13"}],"portfolio":[{"name":"Tengiva","sector":"Climate / Energy","stage":"Seed","year":2022},{"name":"Rithmik Solutions","sector":"Climate / Energy","stage":"NC","year":null},{"name":"ChrysaLabs","sector":"Climate / Energy","stage":"NC","year":null},{"name":"Pyrowave","sector":"Climate / Energy","stage":"NC","year":null},{"name":"AEPONYX","sector":"Deeptech / Hardware","stage":"NC","year":null},{"name":"Brilliant Matters","sector":"Climate / Energy","stage":"NC","year":null},{"name":"Electrobac","sector":"Climate / Energy","stage":"NC","year":null},{"name":"Haila Technologies","sector":"Deeptech / Hardware","stage":"NC","year":null}],"verifiedSource":"https://fondsecofuel.ca/fund/our-investments/?lang=en","lastVerifiedAt":"2026-06-01","editorialLevel":"Long tail (light)"},{"id":"rec96","slug":"thin-air-labs","name":"Thin Air Labs","type":"Other","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":"Dormant","lastDealDate":"2024-03-06","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":"Ansh Dhawan","role":"Analyst, Thin Air Capital","linkedinURL":"https://www.linkedin.com/in/anshdhawann/","initials":"AD","avatarBgColor":"#1D9E75"}],"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}],"verifiedSource":"https://www.thinairlabs.ca/","lastVerifiedAt":"2026-06-02","editorialLevel":"Top 30 (full)"},{"id":"rec97","slug":"hidden-layers-capital","name":"Hidden Layers Capital","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"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":null,"fundSize":null,"activity":"Selectif","lastDealDate":"2026-05-06","website":"https://www.hiddenlayerscap.com","linkedinURL":"","logo":"/assets/vc-logos/hidden-layers-capital.png?v=4","logoBgColor":"#C47A2F","thesis":{"en":"Hidden Layers Capital is a Montreal-based early-stage micro-fund run by exited founders, backing technical founders tackling hard problems across software, AI infrastructure and science-driven sectors. It deploys an Investissement Quebec (Eureka) co-investment mandate and has backed Dispersa, Maket, Kaster Technologies and Jetty between 2025 and 2026.","fr":"Hidden Layers Capital est un micro-fonds montrealais d'amorcage opere par des fondateurs sortis, qui soutient des fondateurs techniques s'attaquant a des problemes difficiles en logiciel, infrastructure IA et secteurs a forte composante scientifique. Il deploie un mandat de co-investissement Eureka d'Investissement Quebec et a soutenu Dispersa, Maket, Kaster Technologies et Jetty entre 2025 et 2026."},"tagline":{"en":"Exited founders backing technical founders.","fr":"Des fondateurs sortis qui soutiennent des fondateurs techniques."},"valueAdd":{"en":["Exited-founder operators","Hard tech and AI infrastructure focus","Investissement Quebec Eureka mandate","Early conviction cheques","Montreal ecosystem access"],"fr":["Operateurs fondateurs sortis","Focus hard tech et infrastructure IA","Mandat Eureka d'Investissement Quebec","Cheques de conviction precoces","Acces a l'ecosysteme montrealais"]},"followOnNarrative":{"en":"Hidden Layers writes early conviction cheques alongside Quebec and Canadian syndicate partners, deploying an Investissement Quebec Eureka co-investment mandate, and leans on its partners' operating experience to support technical founders to the next round.","fr":"Hidden Layers ecrit des cheques de conviction precoces aux cotes de partenaires de syndication quebecois et canadiens, en deployant un mandat de co-investissement Eureka d'Investissement Quebec, et s'appuie sur l'experience operationnelle de ses associes pour accompagner les fondateurs techniques vers leur prochain tour."},"keyQuestions":{"en":["What hard technical problem are you solving, and why now?","How does your founding team's operating experience de-risk execution?","What is the smallest proof point that would unlock your next round?"],"fr":["Quel probleme technique difficile resolvez-vous, et pourquoi maintenant?","En quoi l'experience operationnelle de votre equipe fondatrice reduit-elle le risque d'execution?","Quelle est la plus petite preuve qui debloquerait votre prochain tour?"]},"coInvestors":[],"people":[{"fullName":"Therence Bois","role":"Partner","linkedinURL":"https://www.linkedin.com/in/therence-bois-23b99157","initials":"TB","avatarBgColor":"#534AB7"}],"portfolio":[{"name":"Dispersa","sector":"Climate / Energy","stage":"Seed","year":2025},{"name":"Maket","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2025},{"name":"Kaster Technologies","sector":"Healthtech / Biotech","stage":"Pre-seed","year":2026},{"name":"Jetty","sector":"Devtools / Infra","stage":"Pre-seed","year":2026}],"verifiedSource":"https://www.hiddenlayerscap.com","lastVerifiedAt":"2026-07-03","editorialLevel":"Long tail (light)"},{"id":"rec98","slug":"graphite-ventures","name":"Graphite Ventures","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed","Series A"],"sectors":["AI / ML","Cybersecurity","Fintech / Insurtech","SaaS / Vertical SaaS","Healthtech / Biotech","Deeptech / Hardware"],"ticket":{"min":500000,"max":1500000,"currency":"CAD","label":"$500k to $1.5M CAD"},"leadFollow":"Both","province":["QC","ON","AB"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2021,"fundSize":{"value":110,"currency":"CAD","vintage":2021},"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 the MaRS Investment Accelerator Fund, launched in 2021 as Graphite Ventures with a $110M Graphite IAF IV fund. A dedicated Canadian seed-stage investor focused exclusively on capital-efficient B2B tech (SaaS, healthtech, fintech, cybersecurity, industrial), leading or following from Seed to Series A, with over 200 investments and 40+ exits across the MaRS IAF and Graphite lineage and presence in Toronto, Montreal, Ottawa, Waterloo and Calgary.","fr":"Spin-out du MaRS IAF rebaptisé en 2022, Graphite investit en early-stage dans le SaaS B2B, la fintech, la proptech, la santé numérique et le hardware capital-efficient à travers le Canada. Le fonds actif Graphite IAF IV totalise 100 à 110 M$ 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":"Canada's seed partner trusted by B2B founders.","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/aaron-bast-4834b723/","initials":"AB","avatarBgColor":"#534AB7"},{"fullName":"Lance Laking","role":"General Partner","linkedinURL":"https://www.linkedin.com/in/lance-laking-1785298/","initials":"LL","avatarBgColor":"#1D9E75"},{"fullName":"Craig Leonard","role":"General Partner","linkedinURL":"https://www.linkedin.com/in/vcyogi/","initials":"CL","avatarBgColor":"#A32D2D"},{"fullName":"Kevin Madill","role":"Partner","linkedinURL":"https://www.linkedin.com/in/kmadill/","initials":"KM","avatarBgColor":"#712B13"},{"fullName":"Steve Currie","role":"VP","linkedinURL":"https://www.linkedin.com/in/stevecurrie13/","initials":"SC","avatarBgColor":"#0EA5E9"}],"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":"Deeptech / 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":"Cybersecurity","stage":"Seed","year":2024},{"name":"Maxa","sector":"AI / ML","stage":"Seed","year":2024}],"verifiedSource":"https://www.graphitevc.com/team/","lastVerifiedAt":"2026-06-16","editorialLevel":"Long tail (light)"},{"id":"rec99","slug":"contango-digital-assets","name":"Contango Digital Assets","type":"VC","conviction":"pure-play","stages":["Pre-seed","Seed"],"sectors":["AI / ML","Web3 / Crypto"],"ticket":{"min":150000,"max":250000,"currency":"CAD","label":"$100K-$500K"},"leadFollow":"Both","province":["ON","OTHER"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2021,"fundSize":{"value":6.8,"currency":"CAD","vintage":2024},"activity":"Selectif","lastDealDate":null,"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 web3-native seed fund backing North American teams at the blockchain x AI intersection (decentralized AI), with a focus on the Bittensor ecosystem via subsidiary General TAO Ventures. It first-closed its Blockchain x AI Fund at US$5M (US$10M target) in April 2024, writing cheques of US$150K to $250K.","fr":"Fonds seed torontois dedie au Web3 et a l'IA blockchain. Contango a realise le first close de son fonds Blockchain x AI a 5 M$ US (cible de 10 M$ US) en avril 2024, avec un focus sur l'ecosysteme Bittensor via sa filiale General TAO Ventures. Pure-play crypto avec une these a l'intersection de l'IA et de la blockchain. Approche thematique disciplinee dans une categorie ou la selection de fondateurs est critique."},"tagline":{"en":"Investing to accelerate a decentralized AI future.","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 its Blockchain x AI Fund, which first-closed US$5M of a US$10M target in April 2024, Contango reserves roughly one-fifth of capital for follow-on and backs its highest-conviction names from seed into follow-on or co-lead rounds, supporting founders through token launches and exchange listings.","fr":"Sur son fonds Blockchain x AI, dont le first close a atteint 5 M$ US sur une cible de 10 M$ US en avril 2024, Contango reserve environ un cinquieme du capital pour le suivi et accompagne ses convictions les plus fortes du seed jusqu'aux tours de suivi ou de co-lead, en soutenant les fondateurs sur les lancements de tokens et les listings exchanges."},"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/","initials":"MG","avatarBgColor":"#534AB7"},{"fullName":"Joshua Field","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/joshuafieldcontango/","initials":"JF","avatarBgColor":"#1D9E75"}],"portfolio":[{"name":"Hivello","sector":"Web3 / Crypto","stage":"Pre-seed","year":2024},{"name":"Assisterr","sector":"AI / ML","stage":"Pre-seed","year":2024}],"verifiedSource":"https://www.contango.digital/","lastVerifiedAt":"2026-06-16","editorialLevel":"Long tail (light)"},{"id":"rec100","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":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}],"verifiedSource":"https://www.fondsftq.com/en/","lastVerifiedAt":"2026-06-02","editorialLevel":"Top 30 (full)"},{"id":"rec101","slug":"boxone-ventures","name":"BoxOne Ventures","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed"],"sectors":["Healthtech / Biotech","Deeptech / Hardware","AI / ML","Fintech / Insurtech","Climate / Energy","Marketplace / Consumer"],"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":2011,"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":"Head of Bio and Deep Tech","linkedinURL":"","initials":"MA","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Mycroft","sector":"AI / ML","stage":"Seed","year":2025},{"name":"Juvena Therapeutics","sector":"Healthtech / Biotech","stage":"Seed","year":null},{"name":"dfuse","sector":"Fintech / Insurtech","stage":"Seed","year":null},{"name":"Odd Burger","sector":"Marketplace / Consumer","stage":"Seed","year":null}],"verifiedSource":"https://www.boxone.xyz","lastVerifiedAt":"2026-07-03","editorialLevel":"Long tail (light)"},{"id":"rec102","slug":"accelia-capital","name":"Accelia Capital","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed"],"sectors":["SaaS / Vertical SaaS","Healthtech / Biotech","AI / ML"],"ticket":{"min":300000,"max":1000000,"currency":"CAD","label":""},"leadFollow":"Both","province":["QC","ON"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2021,"fundSize":{"value":60,"currency":"CAD","vintage":2023},"activity":"Selectif","lastDealDate":"2026-02-03","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":"Montreal early-stage venture fund (CAD 60M, closed 2023) backing women-owned and women-led Quebec tech startups at pre-seed and seed, with initial cheques of $300K to $1M. Targets ~70% women-led companies, deploying roughly 80% in Quebec and 20% across the rest of Canada, with a focus on AI-enabled software and healthtech.","fr":"Accelia Capital est un fonds de capital de risque montrealais d'amorcage qui soutient des startups technologiques quebecoises, avec un accent sur les entreprises detenues ou dirigees par des femmes. Le fonds d'environ 60 M$ 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":"Christine Beaubien","role":"Co-Founder & Managing Partner","linkedinURL":"","initials":"CB","avatarBgColor":"#534AB7"},{"fullName":"Annick Charbonneau","role":"Co-Founder & Managing Partner","linkedinURL":"","initials":"AC","avatarBgColor":"#1D9E75"},{"fullName":"Catherine Poulin-Filion","role":"Executive Vice-President","linkedinURL":"","initials":"CP","avatarBgColor":"#A32D2D"},{"fullName":"Julien Roy","role":"Senior Director, Investments","linkedinURL":"","initials":"JR","avatarBgColor":"#712B13"}],"portfolio":[{"name":"Cinareo","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2024},{"name":"Eli Health","sector":"Healthtech / Biotech","stage":"Series A","year":2025},{"name":"Glowtify","sector":"AI / ML","stage":"Seed","year":2025},{"name":"Heylist","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2024},{"name":"Landerz","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2024},{"name":"Trustii","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2024},{"name":"Velix","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2026}],"verifiedSource":"https://accelia.vc/en/team/","lastVerifiedAt":"2026-06-01","editorialLevel":"Long tail (light)"},{"id":"rec103","slug":"standup-ventures","name":"StandUp Ventures","type":"VC","conviction":"generaliste","stages":["Pre-seed","Seed"],"sectors":["SaaS / Vertical SaaS","Healthtech / Biotech","Marketplace / Consumer","AI / ML","Fintech / Insurtech"],"ticket":{"min":500000,"max":1000000,"currency":"CAD","label":"$500k to $1.5M CAD"},"leadFollow":"Both","province":["ON","QC","BC","AB","OTHER"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN","FR"],"founded":2017,"fundSize":{"value":30,"currency":"CAD","vintage":2022},"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":"We champion breakthrough companies led by women","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"}],"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":"Coconut Software","sector":"SaaS / Vertical SaaS","stage":"Series B+","year":2021},{"name":"Tealbook","sector":"SaaS / Vertical SaaS","stage":"Series B+","year":2021},{"name":"ODAIA","sector":"AI / ML","stage":"Series B+","year":2023},{"name":"Acerta","sector":"AI / ML","stage":"Seed","year":2018},{"name":"Axonify (ex-Nudge)","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2017}],"verifiedSource":"https://www.standupvc.com/team","lastVerifiedAt":"2026-06-05","editorialLevel":"Top 30 (full)"},{"id":"rec104","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","NB","NL","PE"],"hq":{"city":"Halifax","region":"NS"},"languages":["EN"],"founded":2020,"fundSize":{"value":20,"currency":"CAD","vintage":2023},"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":"Founding and General Partner","linkedinURL":"","initials":"CB","avatarBgColor":"#534AB7"},{"fullName":"Rhiannon Davies","role":"Founding and Managing Partner","linkedinURL":"","initials":"RD","avatarBgColor":"#1D9E75"},{"fullName":"Sarah Young","role":"Founding and General 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":2021},{"name":"DeNova","sector":"Climate / Energy","stage":"Seed","year":2021},{"name":"Begin AI","sector":"AI / ML","stage":"Seed","year":2021}],"verifiedSource":"https://sandpiper.vc/portfolio/","lastVerifiedAt":"2026-06-17","editorialLevel":"Long tail (light)"},{"id":"rec105","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","OTHER"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2016,"fundSize":{"value":36,"currency":"CAD","vintage":2022},"activity":"Actif","lastDealDate":"2026-03-31","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, co-anchored by RBC and Fondaction with VCCI inclusive-growth backing, has been actively deploying since 2024 and is raising at a target substantially larger than Fund II (whose $36M final close brings cumulative AUM across the funds to roughly $42M). The team blends impact rigor with commercial discipline, suiting founders who want a partner that takes both financial returns and measurable impact seriously.","fr":"Amplify Capital est un fonds d'impact torontois qui investit dans des startups early-stage au Canada et aux États-Unis, attaquant des défis structurants en climat, santé et éducation avec des technologies évolutives. Tickets de 1 à 3 M$ 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":"Active Impact Investments","slug":"active-impact-investments"},{"name":"Energy Impact Partners","slug":"energy-impact-partners"},{"name":"GE Vernova","slug":"ge-vernova"},{"name":"Powerhouse Ventures","slug":"powerhouse-ventures"},{"name":"Blackhorn Ventures","slug":"blackhorn-ventures"},{"name":"Builders Vision","slug":"builders-vision"}],"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":"CFO","linkedinURL":"https://www.linkedin.com/in/andreapoptsis/","initials":"AP","avatarBgColor":"#A32D2D"},{"fullName":"Andrew Newton","role":"Director, Platform & Impact","linkedinURL":"https://www.linkedin.com/in/andrewrnewton/","initials":"AN","avatarBgColor":"#712B13"},{"fullName":"Trish Nixon","role":"Venture Partner","linkedinURL":"https://www.linkedin.com/in/trish-nixon/","initials":"TN","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"Cura","sector":"Climate / Energy","stage":"Seed","year":null},{"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":"Climate / Energy","stage":"Series A","year":2026},{"name":"BioIntelligence","sector":"Healthtech / Biotech","stage":"Seed","year":null},{"name":"Carbon Upcycling","sector":"Climate / Energy","stage":"Series A","year":null}],"verifiedSource":"https://amplifycapital.ca/","lastVerifiedAt":"2026-06-06","editorialLevel":"Top 30 (full)"},{"id":"rec106","slug":"mars-iaf","name":"MaRS Investment Accelerator Fund (IAF)","type":"Public","conviction":"generaliste","stages":["Pre-seed","Seed"],"sectors":["SaaS / Vertical SaaS","Healthtech / Biotech","Climate / Energy","Deeptech / Hardware"],"ticket":{"min":50000,"max":1500000,"currency":"CAD","label":"$50K-$500K"},"leadFollow":"Follow","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2008,"fundSize":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$. Sectoriellement, il couvre tech, SaaS, fintech, healthtech et cleantech. Le fonds joue un rôle critique pour catalyser les premiers tours et attirer des co investisseurs privés."},"tagline":{"en":"One of Canada's most active early-stage funds, backing Ontario founders from Sparks to seed","fr":"Fonds d'amorçage ontarien le plus actif (50 K$ 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":"Brightspark Ventures","slug":"brightspark-ventures"},{"name":"Garage Capital","slug":"garage-capital"},{"name":"Real Ventures","slug":"real-ventures"}],"people":[{"fullName":"William Ma","role":"Managing Director, Investments","linkedinURL":"https://ca.linkedin.com/in/williamma","initials":"WM","avatarBgColor":"#534AB7"},{"fullName":"Robbie Marks","role":"Director, Investments","linkedinURL":"","initials":"RM","avatarBgColor":"#1D9E75"},{"fullName":"Laura Samarze","role":"Manager, Finance and Operations","linkedinURL":"","initials":"LS","avatarBgColor":"#A32D2D"},{"fullName":"Andrew Hudon","role":"Senior Associate, Investments","linkedinURL":"","initials":"AH","avatarBgColor":"#712B13"},{"fullName":"Sennah Mostovac","role":"Senior Associate, Ecosystem and Operations","linkedinURL":"","initials":"SM","avatarBgColor":"#0EA5E9"},{"fullName":"Jillian Malcolm","role":"Senior Associate, Investments","linkedinURL":"","initials":"JM","avatarBgColor":"#F59E0B"},{"fullName":"Bora Kutun","role":"Associate, Investments","linkedinURL":"","initials":"BK","avatarBgColor":"#EC4899"}],"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":"Pre-seed","year":2021},{"name":"Enurgen","sector":"Climate / Energy","stage":"Pre-seed","year":2023}],"verifiedSource":"https://marsiaf.com/portfolio/","lastVerifiedAt":"2026-06-17","editorialLevel":"Top 30 (full)"},{"id":"rec107","slug":"fondaction","name":"Fondaction","type":"Other","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":null,"activity":"Selectif","lastDealDate":"2026-05-21","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$4.54B in net assets (May 2026), it deploys capital with an explicit impact lens: positive economic, social and environmental outcomes alongside financial returns. Fondaction has made 111 venture investments to date, with a bias toward enterprises that practice participatory management, social economy structures (cooperatives, employee-owned) or environmental stewardship. Anchor LP in Canadian climate funds, notably Active Impact Investments Fund II. Latest direct investment was Turtlebrace in May 2026.","fr":"Fondaction est le second fonds de capital de risque a vocation collective (LSVCC) du Quebec, fonde en 1995 par le syndicat CSN. Avec 4,54 G$ d'actif net (mai 2026), il deploie son capital avec un filtre impact explicite : retombees economiques, sociales et environnementales positives en plus du rendement financier. Fondaction a fait 111 investissements venture a ce jour, avec un biais pour les entreprises a gestion participative, les structures d'economie sociale (cooperatives, propriete employes) ou les pratiques environnementales fortes. LP ancre dans les fonds climat canadiens, notamment Active Impact Investments Fonds II. Dernier investissement direct : Turtlebrace, en mai 2026."},"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 CAD$4.54B in net assets and a long-horizon LSVCC structure, Fondaction follows on across multiple rounds when impact thesis stays intact, and also recycles via fund LP positions (Active Impact, climate vehicles).","fr":"Adosse a 4,54 G$ d'actif net et a une structure LSVCC a long horizon, Fondaction suit sur plusieurs rondes quand la these impact tient, et recycle aussi via ses positions de LP (Active Impact, vehicules 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":"BDC Capital","slug":"bdc-capital"},{"name":"Mirova","slug":"mirova"},{"name":"Northleaf Capital Partners","slug":"northleaf-capital-partners"},{"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":"Stephan Morency","role":"President-directeur general","linkedinURL":"","initials":"SM","avatarBgColor":"#534AB7"},{"fullName":"Rose Marcello","role":"Vice-presidente et cheffe de l'Investissement","linkedinURL":"","initials":"RM","avatarBgColor":"#1D9E75"},{"fullName":"Louis De La Haye Duponsel","role":"Chef adjoint, Fonds et co-investissements","linkedinURL":"","initials":"LD","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"BioAlert Solutions","sector":"Climate / Energy","stage":"Seed","year":2025},{"name":"Still Good","sector":"Marketplace / Consumer","stage":"2021","year":null},{"name":"LOOP Mission","sector":"Marketplace / Consumer","stage":"Growth","year":2024},{"name":"Active Impact Investments Fund II","sector":"Climate / Energy","stage":"2025","year":null},{"name":"SOFIAC","sector":"Climate / Energy","stage":"2022","year":null},{"name":"Turtlebrace","sector":"Healthtech / Biotech","stage":"2026","year":null}],"verifiedSource":"https://www.fondaction.com/en/","lastVerifiedAt":"2026-06-23","editorialLevel":"Top 30 (full)"},{"id":"rec108","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}],"verifiedSource":"https://innovatecalgary.com/programs-funding/uceed/","lastVerifiedAt":"2026-06-02","editorialLevel":"Long tail (light)"},{"id":"rec109","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}],"verifiedSource":"https://ventures.werklund.com/","lastVerifiedAt":"2026-06-02","editorialLevel":"Long tail (light)"},{"id":"rec110","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":145,"currency":"CAD","vintage":2019},"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 sustainability-focused impact venture firm founded in 2008 by Paul Richardson and Joel Solomon. $240M CAD AUM across three closed funds: Renewal2 ($35M, 2010), Renewal3 ($63M, 2014) and Renewal4 ($145M, 2019). A fourth vehicle, Renewal5, launched in 2024 targeting $100M for early-growth-stage climate and circular-economy companies (energy transition, mobility, food systems, zero waste, natural resources); no final close has been disclosed.","fr":"Fonds d'impact vancouvérois investissant en early-growth au Canada et aux États-Unis dans des sociétés générant des impacts climatiques et écosystémiques mesurables à grande échelle. Verticales : transition énergétique, mobilité, systèmes alimentaires, zéro-déchet et conservation des ressources. AUM de 240 M$ 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":"Managing and Founding Partner","linkedinURL":"","initials":"PR","avatarBgColor":"#534AB7"},{"fullName":"Joel Solomon","role":"Co-Founder","linkedinURL":"","initials":"JS","avatarBgColor":"#1D9E75"},{"fullName":"Genevieve Pinto","role":"Partner","linkedinURL":"","initials":"GP","avatarBgColor":"#A32D2D"},{"fullName":"Geordan Hankinson","role":"Partner","linkedinURL":"","initials":"GH","avatarBgColor":"#712B13"},{"fullName":"Mike Cormack","role":"Venture Partner","linkedinURL":"","initials":"MC","avatarBgColor":"#0EA5E9"},{"fullName":"Daniel Vo","role":"Senior Associate","linkedinURL":"","initials":"DV","avatarBgColor":"#F59E0B"},{"fullName":"Linda Chen","role":"Chief Financial Officer","linkedinURL":"","initials":"LC","avatarBgColor":"#EC4899"},{"fullName":"Emily Danaher","role":"Director of Impact and Operations","linkedinURL":"","initials":"ED","avatarBgColor":"#14B8A6"}],"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":"Marketplace / Consumer","stage":"Growth","year":null},{"name":"Cascadia Windows and Doors","sector":"Climate / Energy","stage":"NC","year":null},{"name":"Fresh Prep","sector":"Marketplace / Consumer","stage":"NC","year":null},{"name":"Terramera","sector":"Climate / Energy","stage":"NC","year":null},{"name":"Station A","sector":"Climate / Energy","stage":"NC","year":null}],"verifiedSource":"https://www.renewalfunds.com/portfolio/","lastVerifiedAt":"2026-06-17","editorialLevel":"Long tail (light)"},{"id":"rec111","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":2025},"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 solidarite FTQ","slug":"fonds-de-solidarite-ftq"},{"name":"VCCI (Government of Canada)","slug":"vcci-government-of-canada"},{"name":"Anges Quebec","slug":"anges-quebec"},{"name":"Desjardins Capital","slug":"desjardins-capital"},{"name":"Bosch Venture Capital","slug":"bosch-venture-capital"},{"name":"Intel Capital","slug":"intel-capital"},{"name":"Sony Innovation Fund","slug":"sony-innovation-fund"}],"people":[{"fullName":"Helge Seetzen","role":"CEO & Managing Partner","linkedinURL":"https://ca.linkedin.com/in/helgeseetzen","initials":"HS","avatarBgColor":"#534AB7"},{"fullName":"Emilie Boutros","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/emilie-boutros-03493740/","initials":"EB","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":"Noze","sector":"Deeptech / Hardware","stage":"Seed","year":2024},{"name":"Waveshaper AI","sector":"AI / ML","stage":"Pre-seed","year":2024},{"name":"Agapyo","sector":"Climate / Energy","stage":"Pre-seed","year":2024},{"name":"Contxtful","sector":"AI / ML","stage":"Seed","year":2020}],"verifiedSource":"https://www.tandemlaunch.com/portfolio","lastVerifiedAt":"2026-06-22","editorialLevel":"Top 30 (full)"},{"id":"rec112","slug":"brandproject","name":"BrandProject","type":"VC","conviction":"pure-play","stages":["Pre-seed","Seed"],"sectors":["Marketplace / Consumer"],"ticket":{"min":500000,"max":3000000,"currency":"CAD","label":"$500k to $2M CAD"},"leadFollow":"Lead","province":["ON","OTHER"],"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":"Toronto-based investor in next-generation consumer product, service and technology companies, with offices in New York and Vancouver. Founded in 2013 by Andrew Black (co-founder and former CEO of Virgin Mobile), BrandProject began as a venture studio and evolved into a fund, closing its first institutional fund (BrandProject Capital, C$54M) in 2021. It invests at pre-seed and seed in founders building category-defining consumer brands grounded in real consumer insight, across food and beverage, health and wellness, beauty and personal care, consumer tech, multi-unit retail, performance supplements, pet and home and lifestyle. Notable exit: Freshly, sold to Nestle in 2020 for US$1.5B.","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":"Partnering with visionary founders, building iconic brands that people love.","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":"Founder, Managing Partner","linkedinURL":"https://www.linkedin.com/in/andrew-black-2b3764/","initials":"AB","avatarBgColor":"#534AB7"},{"fullName":"Chad Leger","role":"CFO & Operating Partner","linkedinURL":"https://www.linkedin.com/in/chadleger/","initials":"CL","avatarBgColor":"#1D9E75"},{"fullName":"Hayden Williams","role":"Partner","linkedinURL":"https://www.linkedin.com/in/howillia/","initials":"HW","avatarBgColor":"#A32D2D"},{"fullName":"Chris Martone","role":"Vice President","linkedinURL":"https://www.linkedin.com/in/christopher-martone-40885a44/","initials":"CM","avatarBgColor":"#712B13"},{"fullName":"Colin Harding","role":"Vice President","linkedinURL":"https://www.linkedin.com/in/csdharding/","initials":"CH","avatarBgColor":"#0EA5E9"},{"fullName":"Jay Bhatti","role":"Technology Advisor","linkedinURL":"http://www.linkedin.com/in/jaybhatti","initials":"JB","avatarBgColor":"#F59E0B"}],"portfolio":[{"name":"Jesse & Ben's","sector":"Marketplace / Consumer","stage":"Seed","year":2025},{"name":"Wonderbelly","sector":"Marketplace / Consumer","stage":"Exit","year":null},{"name":"Clutch","sector":"Marketplace / Consumer","stage":"Seed","year":null},{"name":"Our Place","sector":"Marketplace / Consumer","stage":"Seed","year":null},{"name":"Daily Harvest","sector":"Marketplace / Consumer","stage":"Exit","year":null},{"name":"Freshly","sector":"Marketplace / Consumer","stage":"Exit (2020)","year":null},{"name":"Peachy","sector":"Marketplace / Consumer","stage":"Seed","year":null},{"name":"Porta","sector":"Marketplace / Consumer","stage":"Seed","year":null},{"name":"Juno Vet","sector":"Marketplace / Consumer","stage":"Seed","year":null},{"name":"Great Many","sector":"Marketplace / Consumer","stage":"Seed","year":null},{"name":"Felix","sector":"Marketplace / Consumer","stage":"Seed","year":null},{"name":"The Gleamery","sector":"Marketplace / Consumer","stage":"Seed","year":null},{"name":"Everself","sector":"Marketplace / Consumer","stage":"Seed","year":null},{"name":"Good Bacteria","sector":"Marketplace / Consumer","stage":"Seed","year":null},{"name":"Aios Medical","sector":"Marketplace / Consumer","stage":"Seed","year":null},{"name":"Aloha","sector":"Marketplace / Consumer","stage":"Exit","year":null},{"name":"Atolla","sector":"Marketplace / Consumer","stage":"Exit","year":null},{"name":"Awake","sector":"Marketplace / Consumer","stage":"Seed","year":null},{"name":"Chefs Plate","sector":"Marketplace / Consumer","stage":"Exit","year":null},{"name":"Coveteur","sector":"Marketplace / Consumer","stage":"Exit","year":null},{"name":"Gainful","sector":"Marketplace / Consumer","stage":"Seed","year":null},{"name":"Hello","sector":"Marketplace / Consumer","stage":"Exit","year":null},{"name":"Hermetic","sector":"Marketplace / Consumer","stage":"Seed","year":null},{"name":"Iris & Romeo","sector":"Marketplace / Consumer","stage":"Seed","year":null},{"name":"Minoan","sector":"Marketplace / Consumer","stage":"Seed","year":null},{"name":"Mira","sector":"Marketplace / Consumer","stage":"Exit","year":null},{"name":"Owlet","sector":"Marketplace / Consumer","stage":"Exit","year":null},{"name":"Persona","sector":"Marketplace / Consumer","stage":"Exit","year":null},{"name":"PetPlate","sector":"Marketplace / Consumer","stage":"Seed","year":null},{"name":"Ritual","sector":"Marketplace / Consumer","stage":"Exit (2017)","year":null},{"name":"SurfEasy","sector":"Marketplace / Consumer","stage":"Exit","year":null}],"verifiedSource":"https://brandproject.com","lastVerifiedAt":"2026-06-17","editorialLevel":"Long tail (light)"},{"id":"rec113","slug":"highline-beta","name":"Highline Beta","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed"],"sectors":["Fintech / Insurtech","Healthtech / Biotech","SaaS / Vertical SaaS","Climate / Energy"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Studio model, equity at inception"},"leadFollow":"Lead","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2016,"fundSize":null,"activity":"Selectif","lastDealDate":null,"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 2016, it co-creates new ventures with corporate partners and founders, taking equity at inception. Fund I (vintage 2019) was anchored by RBC and BDC Capital. In March 2025, Highline Beta announced Highline Beta 3.0 with its DentalTech vertical venture studio, followed in May 2025 by a second studio, Highline Beta ETH (Ethereum-focused, target 10 startups). Historically active across fintech and insurtech, sustainability and logistics, health and wellness. 21 portfolio companies.","fr":"Highline Beta est un VC pre-seed institutionnel torontois et un studio de venture corporate. Fondé en 2016, 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 2019) a été ancré par RBC et BDC Capital. En mars 2025, Highline Beta a annoncé Highline Beta 3.0 avec son studio vertical DentalTech, suivi en mai 2025 d'un deuxième studio, Highline Beta ETH (focus Ethereum, cible 10 startups). Historiquement actif en fintech et insurtech, durabilité et logistique, santé et bien-être. 21 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":"CEO & Founding Partner","linkedinURL":"https://ca.linkedin.com/in/marcusdaniels","initials":"MD","avatarBgColor":"#534AB7"},{"fullName":"Benjamin Yoskovitz","role":"Founding Partner","linkedinURL":"https://ca.linkedin.com/in/byosko","initials":"BY","avatarBgColor":"#1D9E75"}],"portfolio":[{"name":"Requity Homes","sector":"Fintech / Insurtech","stage":"Seed","year":2024},{"name":"Carbonhound","sector":"Climate / Energy","stage":"Pre-seed","year":2023}],"verifiedSource":"https://www.highlinebeta.com/about-us","lastVerifiedAt":"2026-06-05","editorialLevel":"Top 30 (full)"},{"id":"rec114","slug":"cycle-capital","name":"Cycle Capital","type":"VC","conviction":"pure-play","stages":["Seed","Series A","Series B+"],"sectors":["Climate / Energy","Deeptech / Hardware"],"ticket":{"min":2000000,"max":15000000,"currency":"CAD","label":"$2M to $15M CAD"},"leadFollow":"Lead","province":["QC","ON","OTHER"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2009,"fundSize":null,"activity":"Actif","lastDealDate":"2026-01-28","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":"Cleantech VC platform managing seven funds across deep tech, circularity and water","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":"Investissement Quebec","slug":"investissement-quebec"},{"name":"Fondaction","slug":"fondaction"},{"name":"Fonds de solidarite FTQ","slug":"fonds-de-solidarite-ftq"},{"name":"Teralys Capital","slug":"teralys-capital"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Export Development Canada","slug":"export-development-canada"},{"name":"Demeter","slug":"demeter"}],"people":[{"fullName":"Andree-Lise Methot","role":"Founder & Managing Partner","linkedinURL":"https://ca.linkedin.com/in/andree-lise-methot-1a0a5717","initials":"AM","avatarBgColor":"#534AB7"},{"fullName":"Claude Vachet","role":"Managing Partner","linkedinURL":"","initials":"CV","avatarBgColor":"#1D9E75"},{"fullName":"Gerd Goette","role":"Senior Partner, Deep Tech","linkedinURL":"","initials":"GG","avatarBgColor":"#A32D2D"},{"fullName":"Catherine Berube","role":"Partner, Circularity & New Materials","linkedinURL":"","initials":"CB","avatarBgColor":"#712B13"},{"fullName":"Benoit Forcier","role":"Senior Partner, Circularity & New Materials","linkedinURL":"","initials":"BF","avatarBgColor":"#0EA5E9"},{"fullName":"Simon Olivier","role":"Senior Partner, Water Tech","linkedinURL":"","initials":"SO","avatarBgColor":"#F59E0B"}],"portfolio":[{"name":"AON3D","sector":"Deeptech / Hardware","stage":"Growth","year":2026},{"name":"Blumind","sector":"Deeptech / Hardware","stage":"Series A","year":2025},{"name":"Spark Microsystems","sector":"Deeptech / Hardware","stage":"NC","year":null},{"name":"VueReal","sector":"Deeptech / Hardware","stage":"NC","year":null},{"name":"Airex Energy","sector":"Climate / Energy","stage":"NC","year":null},{"name":"MacroCycle","sector":"Climate / Energy","stage":"NC","year":null}],"verifiedSource":"https://cyclecapital.com/en/","lastVerifiedAt":"2026-06-02","editorialLevel":"Top 30 (full)"},{"id":"rec115","slug":"desjardins-capital","name":"Desjardins Capital","type":"Other","conviction":"cvc","stages":["Seed","Series A","Series B+"],"sectors":["SaaS / Vertical SaaS","AI / ML","Healthtech / Biotech","Fintech / Insurtech","Climate / Energy","Deeptech / Hardware","Cybersecurity"],"ticket":{"min":100000,"max":50000000,"currency":"CAD","label":"$1M to $10M CAD"},"leadFollow":"Both","province":["QC"],"hq":{"city":"Montreal","region":"QC"},"languages":["FR","EN"],"founded":1974,"fundSize":null,"activity":"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 development capital arm of Mouvement Desjardins, the largest cooperative financial group in North America. With $3B in assets under management and a portfolio of 750+ Quebec companies, cooperatives and funds, Desjardins Capital deploys patient capital across multiple sub-funds (equity, private debt, growth) supporting startup, growth and transfer stages. Sector-agnostic mandate with strong roots in Quebec entrepreneurship. Latest investment in AON3D alongside lead Cycle Capital in January 2026. Tickets range from $100k to $50M, can lead or follow depending on stage.","fr":"Desjardins Capital est le bras de capital de risque et de capital de developpement du Mouvement Desjardins, plus grande cooperative financiere d'Amerique du Nord. Avec 3 G$ d'actifs sous gestion et un portefeuille de plus de 750 entreprises, cooperatives et fonds quebecois, Desjardins Capital deploie un capital patient a travers plusieurs sous-fonds (equite, dette privee, croissance) couvrant les phases de demarrage, croissance et transfert. Mandat multi-sectoriel avec un fort enracinement dans l'entrepreneuriat quebecois. Dernier investissement dans AON3D aux cotes du chef de file Cycle Capital en janvier 2026. Tickets de 100 k$ a 50 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":"Nathalie Bernard","role":"Chief Operating Officer","linkedinURL":"","initials":"NB","avatarBgColor":"#534AB7"},{"fullName":"Pierre Tessier","role":"Vice-President and Head, Investment","linkedinURL":"","initials":"PT","avatarBgColor":"#1D9E75"},{"fullName":"Catherine Lalonde","role":"Vice-President and Head, Investment Fund Management","linkedinURL":"","initials":"CL","avatarBgColor":"#A32D2D"},{"fullName":"Mario Tremblay","role":"Vice-President, Development Capital (Quebec and Eastern Quebec)","linkedinURL":"","initials":"MT","avatarBgColor":"#712B13"},{"fullName":"Louis Potvin","role":"Deputy Vice-President, Investment Funds and Partnerships","linkedinURL":"","initials":"LP","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"STGM Architecture","sector":"SaaS / Vertical SaaS","stage":"Growth","year":2026},{"name":"SmartD Technologies","sector":"Deeptech / Hardware","stage":"Growth","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 A","year":2025},{"name":"Qohash","sector":"Cybersecurity","stage":"Series B","year":2024}],"verifiedSource":"https://www.desjardins.com/en/find-us/desjardins-capital-team.html","lastVerifiedAt":"2026-06-23","editorialLevel":"Top 30 (full)"},{"id":"rec116","slug":"framework-venture-partners","name":"Framework Venture Partners","type":"VC","conviction":"tech-actif","stages":["Seed","Series A","Series B+"],"sectors":["SaaS / Vertical SaaS","AI / ML","Fintech / Insurtech","Cybersecurity","Marketplace / Consumer"],"ticket":{"min":4000000,"max":13600000,"currency":"CAD","label":"US$3M–$10M"},"leadFollow":"Lead","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2018,"fundSize":{"value":136,"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":"Inovia Capital","slug":"inovia-capital"},{"name":"Deloitte Ventures","slug":"deloitte-ventures"},{"name":"HubSpot Ventures","slug":"hubspot-ventures"},{"name":"Decibel Partners","slug":"decibel-partners"}],"people":[{"fullName":"Peter Misek","role":"Co-Founder & Managing Partner","linkedinURL":"https://ca.linkedin.com/in/peter-misek-3191394","initials":"PM","avatarBgColor":"#534AB7"},{"fullName":"Andrew Lugsdin","role":"Co-Founder","linkedinURL":"","initials":"AL","avatarBgColor":"#1D9E75"},{"fullName":"Ajay Gopal","role":"Partner","linkedinURL":"https://www.linkedin.com/in/ajay-gopal-815a3159/","initials":"AG","avatarBgColor":"#A32D2D"},{"fullName":"Jim Texier","role":"Partner & CTO","linkedinURL":"https://ca.linkedin.com/in/texierjm","initials":"JT","avatarBgColor":"#712B13"},{"fullName":"Boyang Li","role":"Principal","linkedinURL":"","initials":"BL","avatarBgColor":"#0EA5E9"},{"fullName":"David Fontaine","role":"Principal","linkedinURL":"","initials":"DF","avatarBgColor":"#F59E0B"}],"portfolio":[{"name":"Botpress","sector":"AI / ML","stage":"Series B","year":2025},{"name":"Quandri","sector":"Fintech / Insurtech","stage":"","year":null},{"name":"ShipIn","sector":"AI / ML","stage":"","year":null},{"name":"ZayZoon","sector":"Fintech / Insurtech","stage":"","year":null},{"name":"Koverly","sector":"Fintech / Insurtech","stage":"","year":null}],"verifiedSource":"https://www.framework.vc/en/","lastVerifiedAt":"2026-06-02","editorialLevel":"Top 30 (full)"},{"id":"rec117","slug":"amplitude-ventures","name":"Amplitude Ventures","type":"VC","conviction":"pure-play","stages":["Series A","Series B+"],"sectors":["Healthtech / Biotech"],"ticket":{"min":5000000,"max":30000000,"currency":"CAD","label":"$5M to $25M CAD"},"leadFollow":"Lead","province":["QC","ON","OTHER"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2019,"fundSize":{"value":263,"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":"Full-stack precision medicine VC investing at the intersection of biology and AI","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":[],"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":"Allison Gaw","role":"Partner","linkedinURL":"","initials":"AG","avatarBgColor":"#712B13"},{"fullName":"Michael Mee","role":"Partner","linkedinURL":"","initials":"MM","avatarBgColor":"#0EA5E9"},{"fullName":"Matthew Rosenberger","role":"Partner & CFO","linkedinURL":"","initials":"MR","avatarBgColor":"#F59E0B"}],"portfolio":[{"name":"RIME Therapeutics","sector":"Healthtech / Biotech","stage":"Seed","year":2026},{"name":"Congruence Therapeutics","sector":"Healthtech / Biotech","stage":"Series A","year":null},{"name":"Abdera Therapeutics","sector":"Healthtech / Biotech","stage":"Series B+","year":null},{"name":"Thryv Therapeutics","sector":"Healthtech / Biotech","stage":"Series A","year":null},{"name":"Mediar Therapeutics","sector":"Healthtech / Biotech","stage":"Series B+","year":2026},{"name":"Notch Therapeutics","sector":"Healthtech / Biotech","stage":"Exit","year":2025},{"name":"Valence Labs","sector":"Healthtech / Biotech","stage":"Exit 2023 (Recursion)","year":null}],"verifiedSource":"https://amplitudevc.com/en","lastVerifiedAt":"2026-06-02","editorialLevel":"Top 30 (full)"},{"id":"rec118","slug":"teralys-capital","name":"Teralys Capital","type":"Other","conviction":"generaliste","stages":["Pre-seed","Seed","Series A","Series B+"],"sectors":["Generalist (no thesis)"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Not disclosed"},"leadFollow":"Both","province":["QC","ON","OTHER"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2009,"fundSize":{"value":475,"currency":"CAD","vintage":2024},"activity":"Actif","lastDealDate":null,"website":"https://www.teralyscapital.com","linkedinURL":"https://ca.linkedin.com/company/teralys-capital","logo":"/assets/vc-logos/teralys-capital.png?v=4","logoBgColor":"#1D9E75","thesis":{"en":"Teralys Capital is a fund-of-funds and limited partner, not a direct startup investor: it does not write cheques into companies and cannot be pitched by founders for a financing round. Instead, Teralys commits capital to the venture capital and growth funds that, in turn, back startups across information technology, life sciences, and clean or industrial innovations. Founded in 2009 and based in Montreal, it is Canada's largest and only fully independent innovation-focused institutional investor, with more than $2.5B in assets across five specialized fund-of-funds vehicles and exposure to roughly 60-plus partner funds and hundreds of underlying companies. Its capital comes from anchors such as CDPQ, Fonds de solidarite FTQ, Investissement Quebec, BDC Capital (via the federal Venture Capital Catalyst Initiative), plus institutions like Beneva, Fondaction and Bpifrance. The practical takeaway for a founder is indirect but real: the way to benefit from Teralys is to raise from the Canadian, US and European VC managers it backs, because its commitments help those managers reach the fund sizes they deploy into startups. Rather than approaching Teralys, target its partner funds (Inovia, Georgian, White Star Capital, Information Venture Partners and others) that invest at company level.","fr":"Teralys Capital est un fonds de fonds et un commanditaire (LP), pas un investisseur direct dans les startups: il n'emet pas de cheques aux entreprises et ne peut pas etre approche par des fondateurs pour un tour de financement. Il engage plutot du capital dans les fonds de capital de risque et de croissance qui, eux, financent les startups en TI, sciences de la vie et innovations propres ou industrielles. Fonde en 2009 et base a Montreal, c'est le plus grand investisseur institutionnel independant axe innovation au Canada, avec plus de 2,5 G$ d'actif sur cinq vehicules de fonds de fonds et une exposition a une soixantaine de fonds partenaires et des centaines d'entreprises sous-jacentes. Son capital provient d'ancres comme la CDPQ, le Fonds de solidarite FTQ, Investissement Quebec, BDC Capital (via l'Initiative de catalyse du capital de risque) et d'institutions comme Beneva, Fondaction et Bpifrance. Le constat pratique pour un fondateur est indirect mais reel: la facon de beneficier de Teralys est de lever aupres des gestionnaires canadiens, americains et europeens qu'il soutient, car ses engagements aident ces gestionnaires a atteindre la taille de fonds qu'ils deploient dans les startups. Plutot que d'approcher Teralys, ciblez ses fonds partenaires (Inovia, Georgian, White Star Capital, Information Venture Partners et autres) qui investissent au niveau des entreprises."},"tagline":{"en":"Canada's largest independent venture fund-of-funds.","fr":"Le plus grand fonds de fonds independant en innovation au Canada."},"valueAdd":{"en":["Canada's largest and only fully independent innovation-focused fund-of-funds","Deep institutional anchors (CDPQ, Fonds de solidarite FTQ, Investissement Quebec, BDC Capital via VCCI)","15-plus-year track record since 2009 across five specialized vehicles","Dedicated emerging-manager program (Teralys seed fund-of-funds) helping new Quebec GPs raise and adopt best practices","Broad partner-fund network across Canada, the US and Europe, plus selective co-investments alongside partner funds"],"fr":["Le plus grand fonds de fonds institutionnel independant axe innovation au Canada","Ancres institutionnelles profondes (CDPQ, Fonds de solidarite FTQ, Investissement Quebec, BDC Capital via l'ICCR)","Historique de plus de 15 ans depuis 2009 sur cinq vehicules specialises","Programme dedie aux gestionnaires emergents (fonds de fonds d'amorcage Teralys) aidant les nouveaux GP quebecois a lever et adopter les meilleures pratiques","Vaste reseau de fonds partenaires au Canada, aux Etats-Unis et en Europe, plus des co-investissements selectifs aux cotes de ses fonds partenaires"]},"followOnNarrative":{"en":"Teralys supports the innovation ecosystem by anchoring and scaling the venture and growth funds that finance startups, not by investing in founders directly. Beyond capital, it helps emerging Quebec managers adopt VC best practices via its seed fund-of-funds and ecosystem work, and co-invests occasionally into companies alongside its partner funds. Founders engage with Teralys indirectly, by raising from the managers it backs.","fr":"Teralys soutient l'ecosysteme d'innovation en ancrant et en faisant croitre les fonds de capital de risque et de croissance qui financent les startups, pas en investissant directement dans les fondateurs. Au-dela du capital, il aide les gestionnaires emergents du Quebec a adopter les meilleures pratiques de VC via son fonds de fonds d'amorcage et son travail de developpement de l'ecosysteme, et co-investit a l'occasion dans des entreprises aux cotes de ses fonds partenaires. Les fondateurs interagissent avec Teralys indirectement, en levant aupres des gestionnaires qu'il soutient."},"keyQuestions":{"en":["For fund managers seeking an LP: 1. Is your fund a venture or growth fund investing in IT, life sciences, or clean/industrial innovation, with a meaningful Canadian nexus?","Can you demonstrate a differentiated, repeatable sourcing edge and a track record (or, for emerging managers, a credible proof of concept) supporting top-tier net returns?","What is your fund size, target stage and cheque size, GP commitment and team stability, and how does a Teralys commitment help you reach a viable fund size?"],"fr":["Pour les gestionnaires de fonds cherchant un LP: 1. Votre fonds est-il un fonds de VC ou de croissance investissant en TI, sciences de la vie ou innovation propre/industrielle, avec un lien canadien significatif?","Pouvez-vous demontrer un avantage de sourcing differencie et reproductible et un historique (ou, pour les gestionnaires emergents, une preuve de concept credible) soutenant des rendements nets de premier rang?","Quelle est la taille de votre fonds, le stade et la taille de cheque vises, l'engagement du GP et la stabilite de l'equipe, et en quoi un engagement de Teralys vous aide-t-il a atteindre une taille viable?"]},"coInvestors":[{"name":"Inovia Capital","slug":"inovia-capital"},{"name":"Georgian","slug":"georgian"},{"name":"McRock Capital","slug":"mcrock-capital"},{"name":"Information Venture Partners","slug":"information-venture-partners"},{"name":"White Star Capital","slug":"white-star-capital"},{"name":"Persistence Capital Partners","slug":"persistence-capital-partners"},{"name":"Sofinnova","slug":"sofinnova"},{"name":"Clarus Lifesciences","slug":"clarus-lifesciences"},{"name":"Real Ventures","slug":"real-ventures"}],"people":[{"fullName":"Jacques Bernier","role":"Managing Partner (Co-Founder)","linkedinURL":"https://ca.linkedin.com/in/jacques-bernier-5b3477","initials":"JB","avatarBgColor":"#534AB7"},{"fullName":"Eric Legault","role":"Managing Partner (Co-Founder)","linkedinURL":"","initials":"EL","avatarBgColor":"#1D9E75"},{"fullName":"Cedric Bisson","role":"Partner","linkedinURL":"https://ca.linkedin.com/in/cedric-bisson-5a520","initials":"CB","avatarBgColor":"#A32D2D"},{"fullName":"Luc Couture","role":"Partner","linkedinURL":"https://ca.linkedin.com/in/luc-couture-b9444a18","initials":"LC","avatarBgColor":"#712B13"}],"portfolio":[],"verifiedSource":"https://www.teralyscapital.com","lastVerifiedAt":"2026-06-01","editorialLevel":""},{"id":"rec119","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":null,"currency":"CAD","label":"$100k to $2M CAD syndicate"},"leadFollow":"Both","province":["QC"],"hq":{"city":"Montreal","region":"QC"},"languages":["FR","EN"],"founded":2008,"fundSize":null,"activity":"Tres actif","lastDealDate":"2026-04-07","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 2008, Anges Quebec 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 Quebec-incorporated startups. Cheques range from $100k to $2M depending on syndicate size. Anges Quebec 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 $1.75M seed in 2025 alongside AQC Capital and Leva Capital.","fr":"Fonde en 2008, Anges Quebec est le plus grand reseau d'investisseurs providentiels au Canada avec plus de 200 anges actifs, majoritairement d'anciens entrepreneurs. Le reseau a bati un portefeuille de plus de 89 entreprises via des syndicats de membres qui leadent ou co-leadent des tours pre-seed et seed pour des startups incorporees au Quebec. Les cheques s'echelonnent de 100 k$ 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"}],"portfolio":[{"name":"Opalia","sector":"Climate / Energy","stage":"Seed","year":2026},{"name":"GridBank","sector":"Devtools / Infra","stage":"Seed","year":2026},{"name":"Paperplane Therapeutics","sector":"Healthtech / Biotech","stage":"Seed","year":2025},{"name":"EmergConnect","sector":"Healthtech / Biotech","stage":"Seed","year":2025},{"name":"Kelsen","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2025},{"name":"ReliON Charging","sector":"Climate / Energy","stage":"Seed","year":2024},{"name":"EncephalX","sector":"Healthtech / Biotech","stage":"Seed","year":2026}],"verifiedSource":"https://angesquebec.com/en/about/our-team/","lastVerifiedAt":"2026-06-23","editorialLevel":"Top 30 (full)"},{"id":"rec120","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":2021,"fundSize":{"value":41,"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":"Guillaume Therien","role":"General Partner","linkedinURL":"https://www.linkedin.com/in/guillaumetherien/","initials":"GT","avatarBgColor":"#534AB7"},{"fullName":"Bertrand Nepveu","role":"General Partner","linkedinURL":"https://www.linkedin.com/in/bertrandnepveu/","initials":"BN","avatarBgColor":"#1D9E75"},{"fullName":"Charles Sylvestre","role":"General Partner","linkedinURL":"https://www.linkedin.com/in/charlessylvestre/","initials":"CS","avatarBgColor":"#A32D2D"},{"fullName":"Joe Tou","role":"General Partner","linkedinURL":"https://www.linkedin.com/in/josephtou/","initials":"JT","avatarBgColor":"#712B13"}],"portfolio":[{"name":"LocusX","sector":"AI / ML","stage":"Seed","year":2025},{"name":"Gracia AI","sector":"AI / ML","stage":"Seed","year":2024},{"name":"ShapesXR","sector":"Marketplace / Consumer","stage":"Seed","year":2023},{"name":"Squido Studio","sector":"Marketplace / Consumer","stage":"Seed","year":2024}],"verifiedSource":"https://triptyq.vc/","lastVerifiedAt":"2026-06-01","editorialLevel":"Long tail (light)"},{"id":"rec121","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":54,"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 spun out of academic research (since 2011, ~$85M AUM across two funds). AmorChem II Fund L.P. closed at C$44.2M in 2017 (C$53.7M by 2019), backed by Investissement Quebec, Fonds de solidarite FTQ, Fondaction and Merck; seed-stage mandate building biotech from Quebec university IP. The fund is now late in deployment, harvesting exits (RNA Zipcode to Kodikaz 2024, Inversago to Novo Nordisk 2023).","fr":"Fonds de sciences de la vie dedie a la creation d'entreprises a partir de la recherche academique quebecoise et ontarienne. AmorChem identifie et valide des technologies novatrices issues des universites, puis structure les societes autour de celles-ci. L'equipe accompagne les fondateurs scientifiques dans la traduction clinique et la mise en marche. Le vehicule actif, AmorChem II (lance en 2017, environ 54 M$), 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":"Ines Holzbaur","role":"Founder & Managing Partner","linkedinURL":"","initials":"IH","avatarBgColor":"#534AB7"},{"fullName":"Kevin McBride","role":"General Partner & CSO","linkedinURL":"","initials":"KM","avatarBgColor":"#1D9E75"},{"fullName":"Patricia Laplante","role":"Principal","linkedinURL":"","initials":"PL","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Inversago Pharma","sector":"Healthtech / Biotech","stage":"Exit 2023 (Novo Nordisk)","year":null},{"name":"GIIANT Pharma","sector":"Healthtech / Biotech","stage":"Seed","year":2021},{"name":"SemaThera","sector":"Healthtech / Biotech","stage":"Seed","year":2019},{"name":"Neurasic","sector":"Healthtech / Biotech","stage":"Seed","year":null},{"name":"Liminal Biosciences","sector":"Healthtech / Biotech","stage":"Seed","year":null},{"name":"NuChem Sciences","sector":"Healthtech / Biotech","stage":"Spinout","year":2011},{"name":"Fairhaven Pharmaceuticals","sector":"Healthtech / Biotech","stage":"Seed","year":2017}],"verifiedSource":"https://amorchem.com/team/","lastVerifiedAt":"2026-06-09","editorialLevel":"Long tail (light)"},{"id":"rec122","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":40,"currency":"CAD","vintage":2022},"activity":"Actif","lastDealDate":"2026-03-12","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":"Quebec City seed-stage deeptech lead investor across Industry 4.0 and advanced manufacturing, IT and AI, advanced technologies (photonics, microelectronics, quantum, advanced materials) and cleantech. CAD $40M+ first close (targeting ~$60M), leading seed rounds of about $1M to $1.2M across roughly 20 portfolio companies.","fr":"Investisseur meneur en amorcage deeptech base a Quebec, actif en Industrie 4.0 et fabrication avancee, TI et IA, technologies avancees (photonique, microelectronique, quantique, materiaux avances) et technologies propres. Premier close de plus de 40 M$ CA (cible d'environ 60 M$), menant des tours d'amorcage d'environ 1 a 1,2 M$ dans une vingtaine de societes."},"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":[{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Fonds de solidarite FTQ","slug":"fonds-de-solidarite-ftq"},{"name":"Cathay Venture","slug":"cathay-venture"},{"name":"Boreal Ventures","slug":"boreal-ventures"},{"name":"Quantacet","slug":"quantacet"},{"name":"Waterpoint Lane","slug":"waterpoint-lane"}],"people":[{"fullName":"Jean-Francois Grenon","role":"Founding Partner","linkedinURL":"","initials":"JG","avatarBgColor":"#534AB7"},{"fullName":"Antony Acciarri","role":"Founding Partner","linkedinURL":"","initials":"AA","avatarBgColor":"#1D9E75"},{"fullName":"Antoine Bellemare","role":"Founding Partner","linkedinURL":"","initials":"AB","avatarBgColor":"#A32D2D"},{"fullName":"Nadia Martel","role":"Founding Partner","linkedinURL":"","initials":"NM","avatarBgColor":"#712B13"}],"portfolio":[{"name":"Axonal Networks","sector":"Deeptech / Hardware","stage":"2025","year":null},{"name":"DeepSight","sector":"AI / ML","stage":"2025","year":null},{"name":"Prizmal","sector":"AI / ML","stage":"NC","year":null},{"name":"Draft & Goal","sector":"AI / ML","stage":"NC","year":null},{"name":"Point.Laz","sector":"Deeptech / Hardware","stage":"2024","year":null},{"name":"Femtum","sector":"Deeptech / Hardware","stage":"2024","year":null},{"name":"AWL-E","sector":"Climate / Energy","stage":"NC","year":null},{"name":"Axipolymer","sector":"Climate / Energy","stage":"NC","year":null},{"name":"Biofect Innovations","sector":"Climate / Energy","stage":"NC","year":null},{"name":"Relocalize","sector":"Climate / Energy","stage":"2023","year":null}],"verifiedSource":"https://i4capital.vc/en/","lastVerifiedAt":"2026-06-01","editorialLevel":"Long tail (light)"},{"id":"rec123","slug":"pre-amp","name":"Pre-Amp","type":"Other","conviction":"pure-play","stages":["Pre-seed","Seed"],"sectors":["Healthtech / Biotech","AI / ML"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Not disclosed"},"leadFollow":"Lead","province":["QC","OTHER"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2023,"fundSize":null,"activity":"Actif","lastDealDate":"2024-06-01","website":"https://preampbio.com/en","linkedinURL":"https://www.linkedin.com/company/pre-amp/","logo":"/assets/vc-logos/pre-amp.png?v=4","logoBgColor":"#F97316","thesis":{"en":"Pre-Amp is a venture studio, not a fund: it co-founds and builds precision-medicine companies in-house rather than writing cheques into founders' existing startups. Operating as the company-creation engine of Amplitude Ventures, it explores scientific whitespace at the intersection of biology and machine learning, develops venture hypotheses, validates them (with partner Evotec's industrialized drug-discovery platforms), then recruits founding scientists and incorporates the company. Once a concept passes the studio's go/no-go gate, Amplitude Ventures supplies the capital from pre-seed through later rounds, so Amplitude typically holds a meaningful cap-table position from day one. For founders this means Pre-Amp is the right path if you are a scientist or inventor who wants to co-build a company around your science with a studio's capital, team and labs behind you, not if you already have an incorporated startup seeking a passive lead investor. The main on-ramp is the annual Amplitude Fellowship (summer, paid, Montreal) or a direct precision-medicine concept submission.","fr":"Pre-Amp est un venture studio, pas un fonds: il co-fonde et batit des entreprises de medecine de precision en interne plutot que d'investir dans des startups existantes. Operant comme le moteur de creation d'entreprises d'Amplitude Ventures, il explore les espaces blancs scientifiques a l'intersection de la biologie et de l'apprentissage automatique, developpe des hypotheses de venture, les valide (avec les plateformes de decouverte de medicaments de son partenaire Evotec), puis recrute les scientifiques fondateurs et incorpore l'entreprise. Une fois le concept passe le go/no-go du studio, Amplitude Ventures fournit le capital, du pre-amorcage aux tours suivants, et detient donc une position significative au capital des le depart. Pour les fondateurs, Pre-Amp est la bonne voie si vous etes un scientifique ou un inventeur qui veut co-batir une entreprise autour de votre science avec le capital, l'equipe et les laboratoires d'un studio, pas si vous avez deja une startup incorporee cherchant un investisseur passif. La porte d'entree principale est la bourse annuelle Amplitude Fellowship (ete, remuneree, Montreal) ou une soumission directe de concept."},"tagline":{"en":"Building precision-medicine companies from the science up.","fr":"Batir des entreprises de medecine de precision depuis la science."},"valueAdd":{"en":["Only venture studio in Canada dedicated to health and life sciences (precision medicine)","Builds companies in-house rather than backing existing ones, giving founders a full company-creation team","Backed by Amplitude Ventures' roughly US$500M platform, with committed follow-on capital from pre-seed to exit","Exclusive Canadian BRIDGE partnership with Evotec SE for industrialized drug discovery and lab access","Runs the paid Amplitude Fellowship as a structured founder pipeline"],"fr":["Seul venture studio au Canada dedie a la sante et aux sciences de la vie (medecine de precision)","Batit les entreprises en interne plutot que de soutenir des entreprises existantes, offrant aux fondateurs une equipe complete de creation","Adosse a la plateforme d'environ 500 M$ US d'Amplitude Ventures, avec capital de suivi engage du pre-amorcage a la sortie","Partenariat BRIDGE canadien exclusif avec Evotec SE pour la decouverte de medicaments industrialisee et l'acces aux laboratoires","Pipeline de fondateurs structure via l'Amplitude Fellowship remuneree"]},"followOnNarrative":{"en":"Pre-Amp engages at the earliest possible stage, before a company even exists, providing hands-on mentoring, an in-house team of drug-development and venture-studio operators, IP generation and access to Evotec's labs and expert network. It moves a validated concept through a disciplined three-phase model (Explore, Refine, Launch), recruiting the head of research and founding talent and incorporating the company. Amplitude Ventures then backs the new company financially and supports it through to exit.","fr":"Pre-Amp intervient au stade le plus precoce possible, avant meme l'existence d'une entreprise, en fournissant mentorat pratique, une equipe interne de developpement de medicaments et d'operateurs de studio, generation de PI et acces aux laboratoires et au reseau d'experts d'Evotec. Il fait passer un concept valide par un modele discipline en trois phases (Explorer, Affiner, Lancer), recrute le chef de la recherche et les talents fondateurs et incorpore l'entreprise. Amplitude Ventures finance ensuite la nouvelle entreprise et la soutient jusqu'a la sortie."},"keyQuestions":{"en":["Does the opportunity sit squarely in precision medicine at the intersection of biology and computational sciences, with a clear unmet patient need and a credible path to a first-in-class therapy?","Is the founding scientist willing to co-build inside the studio model, sharing the cap table with Amplitude from inception, rather than seeking a hands-off investor?","Has the science cleared (or can it clear) the studio's validation gate, including proof-of-concept feasibility via Evotec's platforms, before the launch decision?"],"fr":["L'opportunite se situe-t-elle en medecine de precision a l'intersection de la biologie et des sciences computationnelles, avec un besoin patient clair et un chemin credible vers une therapie de premiere classe?","Le scientifique fondateur est-il pret a co-batir dans le modele studio, en partageant le capital avec Amplitude des l'origine, plutot que de chercher un investisseur passif?","La science a-t-elle franchi (ou peut-elle franchir) le gate de validation du studio, incluant une faisabilite via les plateformes d'Evotec, avant la decision de lancement?"]},"coInvestors":[{"name":"Evotec SE","slug":"evotec-se"},{"name":"Amplitude Ventures","slug":"amplitude-ventures"},{"name":"Bill & Melinda Gates Foundation","slug":"bill-melinda-gates-foundation"},{"name":"KdT Ventures","slug":"kdt-ventures"},{"name":"InBC Investment Corporation","slug":"inbc-investment-corporation"},{"name":"Seido Capital","slug":"seido-capital"}],"people":[{"fullName":"Michael Mee","role":"Managing Director, Pre-Amp","linkedinURL":"https://ca.linkedin.com/in/michael-mee-2763a858","initials":"MM","avatarBgColor":"#534AB7"},{"fullName":"Bharat Srinivasa","role":"Partner, Amplitude Ventures","linkedinURL":"","initials":"BS","avatarBgColor":"#1D9E75"},{"fullName":"Jean-Francois Pariseau","role":"Co-Founder & Partner, Amplitude Ventures","linkedinURL":"","initials":"JP","avatarBgColor":"#A32D2D"},{"fullName":"Dion Madsen","role":"Co-Founder & Partner, Amplitude Ventures","linkedinURL":"","initials":"DM","avatarBgColor":"#712B13"},{"fullName":"Evelyn Pau","role":"Operating Principal, Amplitude Ventures","linkedinURL":"","initials":"EP","avatarBgColor":"#0EA5E9"},{"fullName":"Nancy Harrison","role":"Venture Partner, Amplitude Ventures","linkedinURL":"","initials":"NH","avatarBgColor":"#F59E0B"}],"portfolio":[{"name":"Reverb Therapeutics","sector":"Healthtech / Biotech","stage":"Seed","year":2023},{"name":"DCx Bio","sector":"Healthtech / Biotech","stage":"Seed","year":2024},{"name":"Ability Biologics","sector":"Healthtech / Biotech","stage":"Seed","year":2024},{"name":"Stereo Biotherapeutics","sector":"Healthtech / Biotech","stage":"NC","year":null},{"name":"Evolved Therapeutics","sector":"Healthtech / Biotech","stage":"NC","year":null}],"verifiedSource":"https://preampbio.com/en","lastVerifiedAt":"2026-06-01","editorialLevel":"Long tail (light)"},{"id":"rec124","slug":"combine-ventures","name":"Combine Ventures","type":"Other","conviction":"tech-actif","stages":["Pre-seed","Seed"],"sectors":["Healthtech / Biotech","SaaS / Vertical SaaS","AI / ML"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Not disclosed"},"leadFollow":"Lead","province":["AB"],"hq":{"city":"Calgary","region":"AB"},"languages":["EN"],"founded":2020,"fundSize":null,"activity":"Actif","lastDealDate":"2026-02-26","website":"https://www.combinevb.com/","linkedinURL":"https://www.linkedin.com/company/combinevb/","logo":"/assets/vc-logos/combine-ventures.png?v=4","logoBgColor":"#8B5CF6","thesis":{"en":"Combine is a Calgary-based venture studio (a company builder), not a fund. It co-founds startups in-house through its Combine Labs program, validating a pre-vetted idea, matching it with a capable co-founder, then providing initial capital, a paying first customer, and hands-on product, engineering, design, operations and fundraising support. For founders this means a deep co-founder-style partnership from day one rather than a passive equity cheque, with the studio taking founding equity in exchange for building alongside you. Its current focus is generative-AI vertical SaaS that modernizes antiquated industries such as allied healthcare, residential services and logistics. Founders join either as a Founder or Problem-Solver-in-Residence, or by bringing an internal corporate idea to spin out.","fr":"Combine est un venture studio base a Calgary (un batisseur d'entreprises), pas un fonds. Il co-fonde des startups en interne via son programme Combine Labs: il valide une idee pre-etudiee, l'associe a un cofondateur capable, puis fournit le capital initial, un premier client payant et un soutien concret en produit, ingenierie, design, operations et levee de fonds. Pour les fondateurs, cela signifie un partenariat profond de type cofondateur des le premier jour plutot qu'un cheque passif, le studio prenant une participation fondatrice en echange de batir a vos cotes. Son focus actuel: le SaaS vertical propulse par l'IA generative qui modernise des industries vieillissantes comme la sante alliee, les services residentiels et la logistique. On y entre soit comme fondateur ou solveur de problemes en residence, soit en apportant une idee corporative a essaimer."},"tagline":{"en":"We are builders, not investors.","fr":"Nous sommes des batisseurs, pas des investisseurs."},"valueAdd":{"en":["Co-founds and builds companies in-house rather than writing passive cheques","Pairs a validated, pre-researched idea with a hand-selected co-founder","Provides a paying flagship first customer to de-risk go-to-market from day one","Supplies in-house product, engineering, design, recruiting, legal and finance","Led by serial Calgary operators (Jeremy Barber, ex-Harvest Builders","Hanif Joshaghani, co-founder of Symend), with a track record including Amplifier Health, Sabi Mind, Brightspot and Agora Labs"],"fr":["Co-fonde et batit les entreprises en interne plutot que d'emettre des cheques passifs","Associe une idee validee et pre-etudiee a un cofondateur trie sur le volet","Fournit un premier client phare payant pour de-risquer la mise en marche des le depart","Apporte une equipe interne en produit, ingenierie, design, recrutement, juridique et finance","Dirige par des operateurs series de Calgary (Jeremy Barber, ancien Harvest Builders","Hanif Joshaghani, cofondateur de Symend), avec un historique (Amplifier Health, Sabi Mind, Brightspot, Agora Labs)"]},"followOnNarrative":{"en":"Combine plays a co-builder role across the full lifecycle: idea validation (customer demand, technical feasibility, unit economics, investor interest), product creation, then launch with capital, governance and people in place. After launch it handles recruiting, legal, finance, engineering and design so the founder can focus on building the business and reaching pre-seed, seed and Series A funding through Combine's investor network.","fr":"Combine joue un role de co-batisseur sur tout le cycle: validation de l'idee (demande client, faisabilite technique, economie unitaire, interet investisseur), creation du produit, puis lancement avec capital, gouvernance et equipe en place. Apres le lancement, il prend en charge recrutement, juridique, finance, ingenierie et design afin que le fondateur se concentre sur l'entreprise et atteigne les financements pre-amorcage, amorcage et Serie A via le reseau d'investisseurs de Combine."},"keyQuestions":{"en":["Does your idea target an antiquated, high-friction vertical (healthcare, housing, logistics) where generative AI creates clear white-space?","Can we validate genuine customer demand and secure a flagship first customer before building?","Are you (or the matched founder) willing to operate as a hands-on co-founder inside the studio model and share founding equity with Combine?"],"fr":["Votre idee vise-t-elle un secteur vieillissant et a forte friction (sante, habitation, logistique) ou l'IA generative cree un espace blanc clair?","Pouvons-nous valider une demande client reelle et securiser un premier client phare avant de batir?","Etes-vous (ou le fondateur associe) pret a operer comme cofondateur tres implique dans le modele studio et a partager l'equity fondateur avec Combine?"]},"coInvestors":[{"name":"Opportunity Calgary Investment Fund (OCIF)","slug":"opportunity-calgary-investment-fund-ocif"},{"name":"Calgary Economic Development","slug":"calgary-economic-development"},{"name":"TGH Ventures","slug":"tgh-ventures"},{"name":"Xeomics","slug":"xeomics"}],"people":[{"fullName":"Jeremy Barber","role":"Co-Founder & CEO","linkedinURL":"","initials":"JB","avatarBgColor":"#534AB7"},{"fullName":"Hanif Joshaghani","role":"Co-Founder","linkedinURL":"","initials":"HJ","avatarBgColor":"#1D9E75"},{"fullName":"Patrick Elliott","role":"Co-Founder","linkedinURL":"","initials":"PE","avatarBgColor":"#A32D2D"},{"fullName":"Susanna Cunning","role":"Chief of Staff","linkedinURL":"","initials":"SC","avatarBgColor":"#712B13"}],"portfolio":[{"name":"Amplifier Health","sector":"Healthtech / Biotech","stage":"Seed","year":2023},{"name":"Sabi Mind","sector":"Healthtech / Biotech","stage":"Seed","year":2021},{"name":"Brightspot","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2021},{"name":"Agora Labs","sector":"Climate / Energy","stage":"Seed","year":2020},{"name":"Chroma","sector":"SaaS / Vertical SaaS","stage":"NC","year":null}],"verifiedSource":"https://www.combinevb.com/","lastVerifiedAt":"2026-06-01","editorialLevel":"Long tail (light)"},{"id":"rec125","slug":"export-et-developpement-canada-edc","name":"Export et développement Canada (EDC)","type":"Public","conviction":"generaliste","stages":["Series B+"],"sectors":["Generalist (no thesis)"],"ticket":{"min":5000000,"max":50000000,"currency":"CAD","label":""},"leadFollow":"Both","province":["QC","ON","BC","AB","NS","MB","SK","NB","NL","PE","OTHER"],"hq":{"city":"Ottawa","region":"ON"},"languages":["EN","FR"],"founded":1944,"fundSize":null,"activity":"Actif","lastDealDate":"2024-04-03","website":"https://www.edc.ca/","linkedinURL":"https://www.linkedin.com/company/edc---export-development-canada/","logo":"/assets/vc-logos/export-et-developpement-canada-edc.png?v=4","logoBgColor":"#0EA5E9","thesis":{"en":"Export Development Canada (EDC) is a federal Crown corporation and Canada's official export credit agency, not a startup venture fund, and founders should engage it on that basis. Its core business is trade finance, export credit insurance, bonding and working-capital guarantees for Canadian companies selling abroad. Through its equity arm, EDC Investments, it also deploys growth equity, but as a later-stage, minority (up to 25%) investor and, very substantially, as a limited partner in more than 100 Canadian VC and PE funds that in turn back startups. For founders the realistic paths are three: secure export financing or insurance to scale internationally; access matched equity via the EDC Investment Matching Program, which requires you to already have a term sheet from a qualified VC/PE investor; or raise from one of the many Canadian funds EDC backs as an LP. EDC explicitly does not invest in pre-revenue or seed-stage companies directly, so a cold seed pitch is the wrong door. Lead with international growth ambition and let your lead investor open the EDC conversation.","fr":"Exportation et developpement Canada (EDC) est une societe d'Etat federale et l'agence officielle de credit a l'exportation du Canada, pas un fonds de capital de risque, et les fondateurs devraient l'aborder ainsi. Son coeur de metier est le financement du commerce, l'assurance credit a l'exportation, le cautionnement et les garanties de fonds de roulement pour les entreprises canadiennes qui vendent a l'etranger. Via son bras equity, EDC Investments, elle deploie aussi du capital de croissance, mais comme investisseur minoritaire (jusqu'a 25%) de stade plus avance et, surtout, comme commanditaire (LP) dans plus de 100 fonds de VC et de PE canadiens qui financent a leur tour les startups. Pour les fondateurs, les voies realistes sont trois: obtenir du financement ou de l'assurance a l'exportation pour croitre a l'international; acceder a de l'equity jumelee via le programme d'investissement jumele d'EDC, qui exige deja une feuille de termes d'un investisseur VC/PE qualifie; ou lever aupres d'un des nombreux fonds canadiens qu'EDC soutient comme LP. EDC n'investit pas directement dans les entreprises pre-revenus ou en amorcage, donc un pitch d'amorcage a froid n'est pas la bonne porte. Menez avec votre ambition de croissance internationale et laissez votre investisseur principal ouvrir la conversation avec EDC."},"tagline":{"en":"Canada's export agency that also backs scaling exporters.","fr":"L'agence d'exportation du Canada qui soutient aussi les exportateurs en croissance."},"valueAdd":{"en":["The backing of a federal Crown corporation adds credibility and de-risks rounds for other investors","Evergreen equity program with $3B+ deployed and patient, follow-on, non-controlling capital","The Investment Matching Program enables fast co-investment (approval possible in about 30 days) on your lead's terms","Deep export, trade-finance, insurance and global-market network unavailable from a pure VC","LP in 100+ Canadian VC and PE funds, giving indirect reach across the early-stage ecosystem"],"fr":["Le soutien d'une societe d'Etat federale apporte credibilite et de-risque les tours pour les autres investisseurs","Programme d'equity evergreen avec plus de 3 G$ deployes et un capital patient, de suivi et non controlant","Le programme d'investissement jumele permet un co-investissement rapide (approbation possible en environ 30 jours) selon les termes de votre investisseur principal","Reseau profond en exportation, financement du commerce, assurance et marches mondiaux, indisponible chez un VC pur","LP dans plus de 100 fonds de VC/PE canadiens, donnant une portee indirecte sur l'ecosysteme early-stage"]},"followOnNarrative":{"en":"EDC supports founders primarily as a financing, insurance and co-investment partner aligned with management and existing shareholders, taking minority positions and not seeking control. For equity, it most often works through your existing institutional lead (matching their diligence and terms) or invests directly at later stages, pairing capital with export expertise, trade-finance tools and international buyer connections. The intended posture is patient, long-term growth support for Canadian companies scaling internationally, not startup incubation.","fr":"EDC soutient les fondateurs surtout comme partenaire de financement, d'assurance et de co-investissement, aligne avec la direction et les actionnaires existants, en prenant des positions minoritaires sans chercher le controle. Pour l'equity, elle travaille le plus souvent via votre investisseur principal institutionnel (en jumelant sa diligence et ses termes) ou investit directement aux stades plus avances, tout en associant le capital a une expertise d'exportation, des outils de financement du commerce et des connexions avec des acheteurs internationaux. La posture visee est un soutien patient et a long terme pour les entreprises canadiennes en expansion internationale."},"keyQuestions":{"en":["Do you have commercial revenue (typically $1M+) and an active international expansion plan, or are you still pre-revenue? (EDC does not invest directly below revenue stage.)","Do you already have a term sheet from a qualified institutional VC/PE investor who can bring EDC in via the Investment Matching Program?","Are you seeking trade finance or insurance to scale exports, matched equity through your existing lead, or an introduction to a Canadian fund EDC backs as an LP?"],"fr":["Avez-vous des revenus commerciaux (typiquement 1 M$+) et un plan d'expansion internationale actif, ou etes-vous encore pre-revenus? (EDC n'investit pas directement sous le stade de revenus.)","Avez-vous deja une feuille de termes d'un investisseur institutionnel VC/PE qualifie pouvant amener EDC via le programme d'investissement jumele?","Cherchez-vous du financement ou de l'assurance commerce pour vos exportations, de l'equity jumelee via votre investisseur principal, ou une introduction a un fonds canadien soutenu par EDC?"]},"coInvestors":[{"name":"Georgian","slug":"georgian"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Farm Credit Canada (FCC)","slug":"farm-credit-canada-fcc"},{"name":"Vistara Growth","slug":"vistara-growth"},{"name":"FinDev Canada","slug":"findev-canada"}],"people":[{"fullName":"Alison Nankivell","role":"President and CEO","linkedinURL":"https://www.linkedin.com/in/alison-nankivell","initials":"AN","avatarBgColor":"#534AB7"},{"fullName":"Michael Machabee","role":"Managing Partner, EDC Investments","linkedinURL":"https://www.linkedin.com/in/michael-machabee-7bb91027/","initials":"MM","avatarBgColor":"#1D9E75"},{"fullName":"Guillermo Freire","role":"Senior Vice President, Mid-Market","linkedinURL":"","initials":"GF","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Brim Financial","sector":"Fintech / Insurtech","stage":"Series C","year":2024},{"name":"Miovision","sector":"SaaS / Vertical SaaS","stage":"Growth","year":null},{"name":"Equisoft","sector":"SaaS / Vertical SaaS","stage":"Growth","year":null},{"name":"ecobee","sector":"Climate / Energy","stage":"Growth","year":null}],"verifiedSource":"https://www.edc.ca/en/solutions/financing/investments.html","lastVerifiedAt":"2026-06-01","editorialLevel":""},{"id":"rec126","slug":"aqc-capital","name":"AQC Capital","type":"VC","conviction":"generaliste","stages":["Pre-seed","Seed"],"sectors":["SaaS / Vertical SaaS","AI / ML","Healthtech / Biotech","Climate / Energy","Devtools / Infra","Fintech / Insurtech"],"ticket":{"min":null,"max":750000,"currency":"CAD","label":"$500k to $2M CAD"},"leadFollow":"Both","province":["QC"],"hq":{"city":"Montreal","region":"QC"},"languages":["FR","EN"],"founded":2012,"fundSize":{"value":78,"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, over $150M AUM total (Fund II reached a $78M first close in May 2021, after a $64M initial capitalization). LPs include Investissement Québec, Teralys Capital, CDPQ, Fonds de solidarité FTQ, Fondaction and Finalta Capital. Roughly 60 portfolio companies, multi-sector seed bias. 8 new investments in 2024 alone.","fr":"AQC Capital est le bras institutionnel du réseau Anges Québec, plus grand réseau d'investisseurs providentiels au Canada avec 230+ anges actifs. AQC co-investit aux côtés des membres pour accélérer les tours early-stage et apporter du poids institutionnel. Deux fonds, plus de 150 M$ sous gestion (le Fonds II a atteint un premier closing de 78 M$ en mai 2021, après une capitalisation initiale de 64 M$). 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 Quebec","slug":"anges-quebec"},{"name":"Desjardins Capital","slug":"desjardins-capital"},{"name":"Investissement Quebec","slug":"investissement-quebec"},{"name":"Accelia Capital","slug":"accelia-capital"},{"name":"Boreal Ventures","slug":"boreal-ventures"},{"name":"Triptyq Capital","slug":"triptyq-capital"},{"name":"Diagram Ventures","slug":"diagram-ventures"},{"name":"Leva Capital","slug":"leva-capital"}],"people":[{"fullName":"Serge Beauchemin","role":"Managing Partner","linkedinURL":"https://www.linkedin.com/in/sergebeauchemin/","initials":"SB","avatarBgColor":"#534AB7"},{"fullName":"Kalthoum Bouacida","role":"General Partner","linkedinURL":"https://www.linkedin.com/in/kalthoumbouacida/","initials":"KB","avatarBgColor":"#1D9E75"},{"fullName":"Stephane Caron","role":"General Partner","linkedinURL":"https://www.linkedin.com/in/stephane-caron-938722/","initials":"SC","avatarBgColor":"#A32D2D"},{"fullName":"Louis Saint-Jacques","role":"Venture Partner","linkedinURL":"https://www.linkedin.com/in/louissaintjacques/","initials":"LS","avatarBgColor":"#712B13"}],"portfolio":[{"name":"Uno Platform","sector":"Devtools / Infra","stage":"Seed","year":2025},{"name":"Streamforge","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2025},{"name":"Trustii","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":"Seed","year":2024}],"verifiedSource":"https://aqccapital.ca/about/?lang=en","lastVerifiedAt":"2026-06-22","editorialLevel":"Top 30 (full)"},{"id":"rec127","slug":"vantec-angel-network","name":"VANTEC Angel Network","type":"Angel","conviction":"pure-play","stages":["Pre-seed","Seed"],"sectors":["Deeptech / Hardware","Healthtech / Biotech","Climate / Energy"],"ticket":{"min":100000,"max":250000,"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":"2026-05-01","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 COO 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":"BC's longstanding angel network, connecting investors and startups since 1999.","fr":"L'un des plus anciens et des plus grands reseaux 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":[],"people":[{"fullName":"Mike Volker","role":"Founder & Chair","linkedinURL":"","initials":"MV","avatarBgColor":"#534AB7"},{"fullName":"Aaron Stuart","role":"COO","linkedinURL":"https://www.linkedin.com/in/aaronjstuart/","initials":"AS","avatarBgColor":"#1D9E75"},{"fullName":"Lindsey Volker","role":"Operations & Events","linkedinURL":"","initials":"LV","avatarBgColor":"#A32D2D"}],"portfolio":[],"verifiedSource":"https://www.vantec.ca/apply-to-pitch","lastVerifiedAt":"2026-06-26","editorialLevel":"Top 30 (full)"},{"id":"rec128","slug":"inbc-investment-corporation","name":"InBC Investment Corporation","type":"Public","conviction":"generaliste","stages":["Series A","Series B+"],"sectors":["Climate / Energy","Deeptech / Hardware","Healthtech / Biotech","AI / ML"],"ticket":{"min":3000000,"max":10000000,"currency":"CAD","label":""},"leadFollow":"Follow","province":["BC"],"hq":{"city":"Vancouver","region":"BC"},"languages":["EN"],"founded":2021,"fundSize":{"value":500,"currency":"CAD","vintage":2021},"activity":"Actif","lastDealDate":"2026-05-12","website":"https://www.inbcinvestment.ca/","linkedinURL":"https://www.linkedin.com/company/inbcinvestment/","logo":"/assets/vc-logos/inbc-investment-corporation.png?v=4","logoBgColor":"#0EA5E9","thesis":{"en":"InBC Investment Corp. is a provincial Crown corporation and strategic investment fund created by the Government of British Columbia with a $500M CAD mandate; it is not a typical venture capital firm but a public, mission-driven investor governed by a triple bottom line that weighs profit alongside economic, social and environmental impact for BC. It deploys capital two ways: directly into private, revenue-generating BC companies ready to scale (typically Series A or later, cheques of roughly $3M to $10M), and as a limited partner into venture funds committed to investing in BC. InBC almost never leads a round; it co-invests alongside other investors with patient, long-horizon capital and possible follow-on. For founders, the realistic path is to be headquartered in or have a strong, demonstrable connection to British Columbia (BC jobs, R&D, IP, decision-makers or revenue), be past commercialization with traction, and align with one of InBC's themes (innovating for the future, climate action, social wellbeing, reconciliation). You can engage directly via the intake form and virtual office hours, or indirectly by raising from a fund InBC backs as an LP.","fr":"InBC Investment Corp. est une societe d'Etat provinciale et un fonds d'investissement strategique cree par le gouvernement de la Colombie-Britannique avec un mandat de 500 M$ CA; ce n'est pas une firme de VC typique mais un investisseur public et mission-driven, gouverne par un triple resultat qui pondere le profit avec l'impact economique, social et environnemental pour la C.-B. Il deploie le capital de deux facons: directement dans des entreprises privees de la C.-B. a revenus, pretes a croitre (typiquement Serie A ou plus, cheques d'environ 3 a 10 M$), et comme commanditaire dans des fonds de VC engages a investir en C.-B. InBC mene rarement un tour; il co-investit aux cotes d'autres investisseurs avec un capital patient et de suivi possible. Pour les fondateurs, la voie realiste est d'avoir un siege ou un lien fort et demontrable avec la C.-B. (emplois, R&D, PI, decideurs ou revenus en C.-B.), d'etre au-dela de la commercialisation avec traction, et d'aligner avec l'un des themes d'InBC (innover pour l'avenir, action climatique, bien-etre social, reconciliation). Vous pouvez l'engager directement via le formulaire d'admission et les heures de bureau virtuelles, ou indirectement en levant aupres d'un fonds qu'InBC soutient comme LP."},"tagline":{"en":"British Columbia's $500M strategic investment fund.","fr":"Le fonds d'investissement strategique de 500 M$ de la C.-B."},"valueAdd":{"en":["Public Crown corporation backed by the Province of BC with a stable $500M mandated pool, not a fundraising-cycle VC","Explicit triple bottom line mandate (profit, people, planet) tied to measurable BC impact","Dual model that backs founders directly AND seeds the BC fund ecosystem as an LP, widening reach","Patient, long-horizon capital (support windows up to seven to ten years) with co-investment and follow-on optionality","Transparent, always-open intake with no deadline, published criteria and recurring virtual office hours"],"fr":["Societe d'Etat soutenue par la province de la C.-B. avec un bassin mandate stable de 500 M$, pas un VC soumis aux cycles de levee","Mandat explicite de triple resultat (profit, gens, planete) lie a un impact mesurable en C.-B.","Modele double qui soutient les fondateurs directement ET ensemence l'ecosysteme de fonds de la C.-B. comme LP, elargissant la portee","Capital patient et a long horizon (fenetres de soutien jusqu'a sept a dix ans) avec co-investissement et options de suivi","Admission toujours ouverte, transparente, sans date limite, criteres publies et heures de bureau virtuelles recurrentes"]},"followOnNarrative":{"en":"InBC acts as a strategic, patient co-investor rather than a lead, plugging public capital in alongside private investors to help BC companies scale and stay anchored in the province. It maintains an always-open intake (typical two-week initial response, four-to-six-month process) and runs recurring virtual office hours so founders and funds can get informal guidance before applying. Beyond the cheque it offers values alignment, an ecosystem of BC partners, and the prospect of follow-on capital, co-investment and deal-flow sharing.","fr":"InBC agit comme un co-investisseur strategique et patient plutot qu'un investisseur principal, en injectant du capital public aux cotes d'investisseurs prives pour aider les entreprises de la C.-B. a croitre et a rester ancrees dans la province. Il maintient une admission toujours ouverte (reponse initiale typique de deux semaines, processus de quatre a six mois) et tient des heures de bureau virtuelles recurrentes. Au-dela du cheque, il offre un alignement de valeurs, un ecosysteme de partenaires de la C.-B. et la perspective de capital de suivi, de co-investissement et de partage de flux de transactions."},"keyQuestions":{"en":["How does your company demonstrate a strong, measurable connection to British Columbia (HQ, BC-based jobs, R&D, IP, decision-makers or revenue), and how would this round deepen it?","Are you past commercialization with customer traction and revenue, raising a Series A or later round with a lead and co-investors already lined up (InBC prefers not to lead)?","Which of InBC's impact themes (innovating for the future, climate action, social wellbeing, reconciliation) does your business advance, and how do you measure that impact?"],"fr":["Comment votre entreprise demontre-t-elle un lien fort et mesurable avec la Colombie-Britannique (siege, emplois, R&D, PI, decideurs ou revenus en C.-B.), et comment ce tour l'approfondirait-il?","Etes-vous au-dela de la commercialisation avec traction client et revenus, en levant une Serie A ou plus avec un investisseur principal et des co-investisseurs deja en place (InBC prefere ne pas mener)?","Lequel des themes d'impact d'InBC (innover pour l'avenir, action climatique, bien-etre social, reconciliation) votre entreprise fait-elle avancer, et comment mesurez-vous cet impact?"]},"coInvestors":[{"name":"SFU Innovates Venture Fund","slug":"sfu-innovates-venture-fund"},{"name":"UBC Catalyst Ventures Fund","slug":"ubc-catalyst-ventures-fund"},{"name":"Staircase Ventures","slug":"staircase-ventures"},{"name":"Yaletown Partners","slug":"yaletown-partners"},{"name":"Brightspark Ventures","slug":"brightspark-ventures"},{"name":"Vanedge Capital","slug":"vanedge-capital"},{"name":"Active Impact Investments","slug":"active-impact-investments"},{"name":"Evok Innovations","slug":"evok-innovations"},{"name":"Raven Indigenous Capital Partners","slug":"raven-indigenous-capital-partners"},{"name":"Amplitude Ventures","slug":"amplitude-ventures"},{"name":"Pender Ventures","slug":"pender-ventures"}],"people":[{"fullName":"Daniel Muzyka","role":"Interim Chief Executive Officer","linkedinURL":"https://www.linkedin.com/in/daniel-muzyka-a4aa325/","initials":"DM","avatarBgColor":"#534AB7"},{"fullName":"Thomas Park","role":"Chief Investment Officer","linkedinURL":"https://www.linkedin.com/in/thomasparkvc/","initials":"TP","avatarBgColor":"#1D9E75"},{"fullName":"David Mortimer","role":"Chief Financial Officer","linkedinURL":"https://www.linkedin.com/in/david-mortimer-91898b21/","initials":"DM","avatarBgColor":"#A32D2D"},{"fullName":"Scott Wong","role":"Investment Partner","linkedinURL":"https://www.linkedin.com/in/scott-wongg/","initials":"SW","avatarBgColor":"#712B13"},{"fullName":"Shivani Chitroda","role":"Investment Principal","linkedinURL":"https://www.linkedin.com/in/shivanichitroda/","initials":"SC","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"Photonic","sector":"Deeptech / Hardware","stage":"Growth","year":2026},{"name":"MarineLabs","sector":"Deeptech / Hardware","stage":"Growth","year":2025},{"name":"VodaSafe","sector":"Deeptech / Hardware","stage":"Growth","year":2025},{"name":"Novarc Technologies","sector":"Deeptech / Hardware","stage":"Growth","year":2025},{"name":"Reverb Therapeutics","sector":"Healthtech / Biotech","stage":"Growth","year":2025},{"name":"Aspect Biosystems","sector":"Healthtech / Biotech","stage":"Growth","year":2025},{"name":"Svante Technologies","sector":"Climate / Energy","stage":"Growth","year":2024},{"name":"ChopValue","sector":"Climate / Energy","stage":"Growth","year":2024},{"name":"Arca Climate Technologies","sector":"Climate / Energy","stage":"Growth","year":2024},{"name":"Mangrove Lithium","sector":"Climate / Energy","stage":"Growth","year":2024}],"verifiedSource":"https://www.inbcinvestment.ca/","lastVerifiedAt":"2026-06-01","editorialLevel":""},{"id":"rec129","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":136,"currency":"CAD","vintage":2023},"activity":"Selectif","lastDealDate":"2025-09-29","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 (2018 vintage) held its final close at USD 100M (about $136M CAD) in May 2020. Fund IV had its first close in 2024 (amount undisclosed). The thesis is anchored in food and sustainability rather than pure climate-energy. The team suits CPG and food-tech founders looking for a capital partner with deep sector expertise and a clear sustainability mandate.","fr":"Fonds pure-play en agriculture et alimentation durables, InvestEco investit dans des sociétés alimentaires solides et bien gérées, différenciées par leurs attributs santé et durabilité. Cible expansion-stage avec revenus de 5 à 30 M$. 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 Le Grand","sector":"Marketplace / Consumer","stage":"Growth","year":2022},{"name":"Mara Renewables","sector":"Marketplace / Consumer","stage":"Growth","year":2022}],"verifiedSource":"https://investeco.com/our-funds/","lastVerifiedAt":"2026-06-17","editorialLevel":"Long tail (light)"},{"id":"rec130","slug":"island-capital-partners","name":"Island Capital Partners","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed"],"sectors":["SaaS / Vertical SaaS","Climate / Energy","Healthtech / Biotech"],"ticket":{"min":50000,"max":500000,"currency":"CAD","label":"$50k–$500k CAD"},"leadFollow":"Both","province":["PE","NB","NS","NL"],"hq":{"city":"Charlottetown","region":"PE"},"languages":["EN"],"founded":2017,"fundSize":null,"activity":"Selectif","lastDealDate":"2024-07-31","website":"https://www.islandcapital.vc/","linkedinURL":"https://ca.linkedin.com/company/islandcapitalpartners","logo":"/assets/vc-logos/island-capital-partners.png?v=4","logoBgColor":"#14708E","thesis":{"en":"Island Capital Partners is a Charlottetown-based venture firm founded in 2017, the anchor early-stage investor for Prince Edward Island. It backs Pre-seed and Seed founders across enterprise software, agtech, energy and medical devices, with initial cheques of $50k to $500k and co-investments alongside Atlantic and national partners. Its first fund raised $4M, with $2M from the PEI government and $2M from about 20 Island angels, and it now invests from a second fund. Recent deals include co-leading Tracktile's $575k pre-seed alongside BDC Capital's Seed Venture Fund in 2024.","fr":"Island Capital Partners est une firme de capital de risque basée à Charlottetown, fondée en 2017, l'investisseur d'ancrage early-stage de l'Île-du-Prince-Édouard. Elle finance des fondateurs en Pre-seed et Seed dans le logiciel d'entreprise, l'agtech, l'énergie et les dispositifs médicaux, avec des premiers chèques de 50k$ à 500k$ et des co-investissements aux côtés de partenaires atlantiques et nationaux. Son premier fonds a réuni 4M$, dont 2M$ du gouvernement de l'Î.-P.-É. et 2M$ d'une vingtaine d'anges de l'île, et elle investit désormais depuis un deuxième fonds. Parmi les transactions récentes, elle a co-mené le pré-amorçage de 575k$ de Tracktile aux côtés du Seed Venture Fund de BDC Capital en 2024."},"tagline":{"en":"Prince Edward Island's anchor early-stage tech investor","fr":"L'investisseur tech d'ancrage de l'Île-du-Prince-Édouard"},"valueAdd":{"en":["PEI government and Island angel backing","First institutional cheque on the Island","Atlantic and national co-investor network","Pre-seed to Seed focus"],"fr":["Soutien du gouvernement de l'Î.-P.-É. et des anges de l'île","Premier chèque institutionnel sur l'île","Réseau de co-investisseurs atlantiques et nationaux","Focus Pre-seed à Seed"]},"followOnNarrative":{"en":"","fr":""},"keyQuestions":{"en":[],"fr":[]},"coInvestors":[{"name":"BDC Capital","slug":"bdc-capital"},{"name":"NBIF","slug":"nbif"}],"people":[],"portfolio":[{"name":"Tracktile","sector":"SaaS / Vertical SaaS","stage":"Pre-seed","year":2024}],"verifiedSource":"https://www.islandcapital.vc/","lastVerifiedAt":"2026-06-29","editorialLevel":"Long tail (light)"},{"id":"rec131","slug":"acet-capital","name":"ACET Capital","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed"],"sectors":["Deeptech / Hardware","SaaS / Vertical SaaS","Healthtech / Biotech","Climate / Energy"],"ticket":{"min":50000,"max":500000,"currency":"CAD","label":"$50k to $500k CAD"},"leadFollow":"Both","province":["QC"],"hq":{"city":"Sherbrooke","region":"QC"},"languages":["FR","EN"],"founded":2011,"fundSize":{"value":7.6,"currency":"CAD","vintage":2018},"activity":"Selectif","lastDealDate":"2026-01-27","website":"https://acet.ca/financement/","linkedinURL":"","logo":"/assets/vc-logos/acet-capital.png?v=4","logoBgColor":"#8B5CF6","thesis":{"en":"ACET Capital is a Sherbrooke seed-stage venture fund affiliated with the ACET technology business accelerator. It makes direct equity investments (shares or convertible notes) in early-stage Quebec tech startups across innovative manufacturing, digital, healthtech and cleantech, investing on average in 5 new companies per year (cheques of $50K to $300K, up to $500K with reinvestment). It often leads seed rounds (for example EncephalX's $2.25M pre-seed closed January 2026) and ranked among Quebec's ten most active VCs in 2023.","fr":"ACET Capital est un fonds de capital de risque d'amorcage base a Sherbrooke, affilie a l'accelerateur technologique ACET. Il realise des investissements directs en equity (actions ou prets convertibles) dans les jeunes pousses technologiques quebecoises en pre-commercialisation et commercialisation, a travers le manufacturier innovant, les technologies numeriques, les technologies de la sante et les technologies vertes. Le fonds investit en moyenne dans 5 nouvelles entreprises par an (tickets de 50 000 $ a 300 000 $, jusqu'a 500 000 $ avec reinvestissement) et co-investit avec son reseau. Il agit souvent comme investisseur meneur a l'amorcage (par exemple EncephalX, ronde de pre-amorcage de 2,25 M$ cloturee en janvier 2026) et figurait parmi les dix VC les plus actifs au Quebec en 2023."},"tagline":{"en":"Seed equity from the Sherbrooke tech accelerator.","fr":"Capital d'amorcage de l'accelerateur techno de Sherbrooke."},"valueAdd":{"en":["Accelerator-backed deal flow","Sherbrooke and Quebec ecosystem","Direct equity at pre-seed","Lead investor capacity","Hands-on technology commercialization support"],"fr":["Flux de transactions adosse a l'accelerateur","Ecosysteme de Sherbrooke et du Quebec","Equity directe en pre-amorcage","Capacite d'investisseur meneur","Accompagnement concret a la commercialisation technologique"]},"followOnNarrative":{"en":"ACET Capital pairs its pre-seed cheques with the ACET accelerator's commercialization support and reserves capital to follow its winners, syndicating Series A rounds with Quebec and Canadian specialist investors. Follow-on conviction tracks technical and clinical milestones.","fr":"ACET Capital combine ses cheques de pre-amorcage avec l'accompagnement a la commercialisation de l'accelerateur ACET et conserve du capital pour suivre ses gagnants, en syndiquant les tours de Serie A avec des investisseurs specialises quebecois et canadiens. La conviction de suivi suit les jalons techniques et cliniques."},"keyQuestions":{"en":["What is your next technical or clinical milestone, and how much capital does it need?","How does the ACET accelerator concretely shorten your path to market?","Who are the natural Series A co-investors for your sector?"],"fr":["Quel est votre prochain jalon technique ou clinique, et combien de capital exige-t-il?","En quoi l'accelerateur ACET raccourcit-il concretement votre mise en marche?","Qui sont les co-investisseurs naturels en Serie A pour votre secteur?"]},"coInvestors":[{"name":"Investissement Quebec","slug":"investissement-quebec"},{"name":"Banque Nationale","slug":"banque-nationale"},{"name":"Anges Quebec","slug":"anges-quebec"},{"name":"HaloHealth","slug":"halohealth"},{"name":"Creative Destruction Lab","slug":"creative-destruction-lab"},{"name":"Theodorus","slug":"theodorus"},{"name":"BKR Capital","slug":"bkr-capital"},{"name":"Sandpiper Ventures","slug":"sandpiper-ventures"},{"name":"Fonds Eureka","slug":"fonds-eureka"}],"people":[{"fullName":"Ghyslain Goulet","role":"CEO, ACET (gestionnaire des fonds ACET Capital)","linkedinURL":"https://www.linkedin.com/in/ghyslain-goulet-86720016/","initials":"GG","avatarBgColor":"#534AB7"},{"fullName":"Dominic Denis","role":"Directeur des investissements, ACET Capital","linkedinURL":"https://ca.linkedin.com/in/dominicdenis","initials":"DD","avatarBgColor":"#1D9E75"}],"portfolio":[{"name":"EncephalX","sector":"Healthtech / Biotech","stage":"Pre-seed","year":2026},{"name":"AxCell Labs","sector":"Healthtech / Biotech","stage":"Pre-seed","year":2025},{"name":"Simmunome","sector":"Healthtech / Biotech","stage":"Pre-seed","year":2023},{"name":"Immugenia","sector":"Healthtech / Biotech","stage":"NC","year":null},{"name":"Myni","sector":"Climate / Energy","stage":"NC","year":null},{"name":"Dyze Design","sector":"Deeptech / Hardware","stage":"NC","year":null}],"verifiedSource":"https://acet.ca/financement/","lastVerifiedAt":"2026-06-01","editorialLevel":"Long tail (light)"},{"id":"rec132","slug":"badhouse-ventures","name":"Badhouse Ventures","type":"VC","conviction":"tech-actif","stages":["Pre-seed"],"sectors":["SaaS / Vertical SaaS","AI / ML","Web3 / Crypto"],"ticket":{"min":10000,"max":100000,"currency":"CAD","label":"$10K to $100K CAD"},"leadFollow":"Follow","province":["BC","AB"],"hq":{"city":"Vancouver","region":"BC"},"languages":["EN"],"founded":null,"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 nano-VC writing first cheques (up to $100k) for pre-seed software, AI, web3 and infosec founders across Western Canada (west of Toronto/Waterloo), run by founder Ralph Baddour with hands-on operator support around the themes of smarter communities and smarter data systems. Fund size undisclosed.","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":"Western Canada pre-seed, operator-led first cheques.","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":null},{"name":"ComplyAce","sector":"SaaS / Vertical SaaS","stage":"Pre-seed","year":null},{"name":"BlockSurvey","sector":"Web3 / Crypto","stage":"Pre-seed","year":null},{"name":"Supportbench","sector":"SaaS / Vertical SaaS","stage":"Pre-seed","year":null},{"name":"Aboard","sector":"SaaS / Vertical SaaS","stage":"Exit","year":null},{"name":"Bandit Labs","sector":"AI / ML","stage":"Pre-seed","year":null},{"name":"Trunkit","sector":"Marketplace / Consumer","stage":"Pre-seed","year":null},{"name":"Forever Today","sector":"Web3 / Crypto","stage":"Pre-seed","year":null},{"name":"ioAirFlow","sector":"Climate / Energy","stage":"Pre-seed","year":null}],"verifiedSource":"https://www.badhouse.ca/portfolio","lastVerifiedAt":"2026-06-22","editorialLevel":"Long tail (light)"},{"id":"rec133","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","AI / ML","Deeptech / Hardware","Climate / Energy"],"ticket":{"min":500000,"max":2000000,"currency":"CAD","label":"$500K to $1.5M USD"},"leadFollow":"Both","province":["BC","ON","OTHER"],"hq":{"city":"Vancouver","region":"BC"},"languages":["EN"],"founded":2012,"fundSize":null,"activity":"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 San Francisco and Vancouver. Version One invests in mission-driven founders in SaaS, marketplaces and crypto, with cheques of $500K to $2M CAD as lead. The firm closed two new funds in June 2025 (sizes undisclosed), continuing the strategy of its earlier vehicles. Track record of early investments in Coinbase, Dapper Labs, Uniswap and Shippo. Built for founders building durable internet businesses with a global lens from day one.","fr":"Référence en pré amorçage et amorçage, fondée par Boris Wertz et menée avec Angela Tran depuis San Francisco et Vancouver. Investit dans des fondateurs mission driven en SaaS, marketplaces et crypto, avec des tickets de 500 K à 2 M$ CAD en lead. La firme a clôturé deux nouveaux fonds en juin 2025 (tailles non divulguées), dans la continuité de ses véhicules précédents. Historique d'investissements précoces dans Coinbase, Dapper Labs, Uniswap et Shippo."},"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":"StandUp Ventures","slug":"standup-ventures"},{"name":"GreenSky Ventures","slug":"greensky-ventures"},{"name":"AQC Capital","slug":"aqc-capital"},{"name":"Anges Quebec","slug":"anges-quebec"}],"people":[{"fullName":"Boris Wertz","role":"Founding 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"},{"fullName":"Leah Gosbee","role":"CFO","linkedinURL":"","initials":"LG","avatarBgColor":"#A32D2D"}],"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":2017}],"verifiedSource":"https://versionone.vc/","lastVerifiedAt":"2026-06-02","editorialLevel":"Top 30 (full)"},{"id":"rec134","slug":"university-of-alberta-innovation-fund","name":"University of Alberta Innovation Fund","type":"Public","conviction":"tech-actif","stages":["Pre-seed","Seed"],"sectors":["AI / ML","Healthtech / Biotech","Climate / Energy"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Not disclosed"},"leadFollow":"Both","province":["AB"],"hq":{"city":"Edmonton","region":"AB"},"languages":["EN"],"founded":2023,"fundSize":null,"activity":"Selectif","lastDealDate":"2024-10-17","website":"https://uafund.ca/","linkedinURL":"","logo":"/assets/vc-logos/university-of-alberta-innovation-fund.png?v=4","logoBgColor":"#275D38","thesis":{"en":"The University of Alberta Innovation Fund is an early-stage venture fund launched in 2023, managed by the University of Alberta and funded by donor contributions toward a $50M target. It invests in research-driven startups connected to the university, across artificial intelligence, health, energy and agriculture. In its first year it backed 5 companies, including RL Core Technologies, Nanostics Precision Health, PulseMedica and Areto Labs. It joined the round of Wyvern, the satellite imaging spinoff founded by U of A graduates, in 2024.","fr":"Le University of Alberta Innovation Fund est un fonds de capital de risque early-stage lancé en 2023, géré par l'Université de l'Alberta et financé par des dons vers une cible de 50M$. Il investit dans des startups issues de la recherche liées à l'université, en intelligence artificielle, santé, énergie et agriculture. Lors de sa première année, il a soutenu 5 entreprises, dont RL Core Technologies, Nanostics Precision Health, PulseMedica et Areto Labs. Il a participé en 2024 à la ronde de Wyvern, l'essaimage d'imagerie satellitaire fondé par des diplômés de l'Université de l'Alberta."},"tagline":{"en":"University of Alberta's research commercialization fund","fr":"Le fonds de commercialisation de la recherche de l'Université de l'Alberta"},"valueAdd":{"en":["University research pipeline access","AI, health, energy and agriculture focus","Patient donor-funded capital","Bridges the early commercialization gap"],"fr":["Accès au pipeline de recherche universitaire","Focus IA, santé, énergie et agriculture","Capital patient financé par dons","Comble le creux de commercialisation précoce"]},"followOnNarrative":{"en":"","fr":""},"keyQuestions":{"en":[],"fr":[]},"coInvestors":[],"people":[],"portfolio":[{"name":"Wyvern","sector":"Deeptech / Hardware","stage":"Seed","year":2024},{"name":"Nanostics Precision Health","sector":"Healthtech / Biotech","stage":"Seed","year":null},{"name":"Areto Labs","sector":"AI / ML","stage":"Seed","year":null}],"verifiedSource":"https://uafund.ca/companies/","lastVerifiedAt":"2026-06-29","editorialLevel":"Long tail (light)"},{"id":"rec135","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","AB","ON","QC","OTHER"],"hq":{"city":"Vancouver","region":"BC"},"languages":["EN"],"founded":2001,"fundSize":null,"activity":"Tres actif","lastDealDate":"2026-05-12","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":"Transforming industries through digital infrastructure, AI and automation for asset-heavy sectors.","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":"Export Development Canada","slug":"export-development-canada"},{"name":"BDC Capital","slug":"bdc-capital"}],"people":[{"fullName":"Salil Munjal","role":"Managing General Partner","linkedinURL":"https://www.linkedin.com/in/salil-munjal-icd-d/","initials":"SM","avatarBgColor":"#534AB7"},{"fullName":"Hans Knapp","role":"Partner","linkedinURL":"https://ca.linkedin.com/in/hans-knapp-30673","initials":"HK","avatarBgColor":"#1D9E75"},{"fullName":"Eric Bukovinsky","role":"Partner","linkedinURL":"https://www.linkedin.com/in/ericbukovinsky/","initials":"EB","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":null},{"name":"Field AI","sector":"AI / ML","stage":"Series A","year":null},{"name":"Nanoprecise","sector":"AI / ML","stage":"Series C","year":2025},{"name":"Group14 Technologies","sector":"Deeptech / Hardware","stage":"Series B+","year":null},{"name":"Elevated Signals","sector":"SaaS / Vertical SaaS","stage":"Series A","year":null},{"name":"Photonic","sector":"Deeptech / Hardware","stage":"2026","year":null}],"verifiedSource":"https://www.yaletown.com/news/yaletown-partners-announces-first-close-of-250-million-innovation-growth-fund-iii","lastVerifiedAt":"2026-06-18","editorialLevel":"Top 30 (full)"},{"id":"rec136","slug":"axl","name":"AXL","type":"Other","conviction":"pure-play","stages":["Pre-seed"],"sectors":["AI / ML"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Not disclosed"},"leadFollow":"Lead","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2025,"fundSize":{"value":15,"currency":"CAD","vintage":2025},"activity":"Actif","lastDealDate":null,"website":"https://axl.vc","linkedinURL":"https://www.linkedin.com/company/axl-labs","logo":"/assets/vc-logos/axl.png?v=4","logoBgColor":"#EF4444","thesis":{"en":"AXL is a Toronto venture studio, not a traditional fund: it co-founds and builds AI companies in-house rather than investing in founders' existing startups. Working backward from billion-dollar problems surfaced with corporate partners through its AI Catalyst program, AXL validates a defensible AI solution in its own Labs, then recruits an entrepreneur to co-lead the venture as a true co-founder. For founders, this means joining a pre-validated opportunity with a first customer and strategic investor already in place, pre-founding capital from AXL's own $15M fund, and full-stack product, engineering, GTM, legal and finance support from day one. AXL takes founding equity (and compensates its team in studio LP units), so founders trade some ownership for de-risked starting conditions and speed. Its stated mission is to launch 50 Canadian AI companies in five years and keep the talent and IP in Canada.","fr":"AXL est un venture studio torontois, pas un fonds traditionnel: il co-fonde et batit des entreprises d'IA en interne plutot que d'investir dans des startups existantes. En partant de problemes a un milliard de dollars identifies avec des partenaires corporatifs via son programme AI Catalyst, AXL valide une solution d'IA defendable dans ses propres Labs, puis recrute un entrepreneur pour co-diriger la societe comme veritable cofondateur. Pour les fondateurs, cela signifie rejoindre une opportunite pre-validee avec un premier client et un investisseur strategique deja en place, du capital de pre-fondation issu du fonds de 15 M$ d'AXL, et un soutien complet en produit, ingenierie, mise en marche, juridique et finance des le premier jour. AXL prend une participation fondatrice (et remunere son equipe en parts de studio): les fondateurs echangent une partie de la propriete contre des conditions de depart de-risquees et de la vitesse. Sa mission: lancer 50 entreprises d'IA canadiennes en cinq ans et garder le talent et la PI au Canada."},"tagline":{"en":"Building Canada's AI companies, at home.","fr":"Batir les entreprises d'IA du Canada, ici."},"valueAdd":{"en":["Problems-first model: ventures start from validated $1B+ problems with a first customer and strategic investor secured before founding","In-house AXL Labs led by world-class HCI and AI researchers builds prototype to MVP","AI Catalyst corporate-partner network (Dentons, RSM Canada, Compugen, Dillon Consulting) provides built-in distribution","Deep commercialization pedigree (24+ exits, 200+ patents, $200M+ raised, U of T research access)","Faculty Fellows from NVIDIA, NASA, Samsung and U of T, plus pre-founding capital from AXL's captive fund"],"fr":["Modele oriente problemes: les entreprises partent de problemes valides de plus d'un milliard, avec un premier client et un investisseur strategique securises avant la fondation","AXL Labs interne, dirige par des chercheurs de classe mondiale en IHM et IA, batit du prototype au MVP","Reseau de partenaires corporatifs AI Catalyst (Dentons, RSM Canada, Compugen, Dillon Consulting) offrant la distribution","Pedigree de commercialisation profond (24+ exits, 200+ brevets, 200 M$+ leves, acces a la recherche de l'Universite de Toronto)","Faculty Fellows de NVIDIA, NASA, Samsung et U of T, plus capital de pre-fondation du fonds captif d'AXL"]},"followOnNarrative":{"en":"AXL acts as an active co-founder, not a passive investor. Founders enter through a three-month Innovator-in-Residence program and get pre-founding capital plus a dedicated in-house team across product, engineering, design, go-to-market (Warp Drive program), operations, legal and finance, alongside a corporate-partner network ready to be first customers and distribution channels. The aim is to compress 0-to-traction from years to weeks while keeping the company and its IP in Canada.","fr":"AXL agit comme un cofondateur actif, pas un investisseur passif. Les fondateurs entrent via un programme Innovator-in-Residence de trois mois et obtiennent du capital de pre-fondation ainsi qu'une equipe interne dediee en produit, ingenierie, design, mise en marche (programme Warp Drive), operations, juridique et finance, aux cotes d'un reseau de partenaires corporatifs prets a devenir premiers clients et canaux de distribution. L'objectif: comprimer le passage de 0 a la traction de quelques annees a quelques semaines, tout en gardant l'entreprise et sa PI au Canada."},"keyQuestions":{"en":["Are you ready to relocate to and build full-time in Toronto, and to co-found a company around a problem AXL has already validated rather than your own idea?","What is your demonstrated 0-to-1 track record, and are you comfortable taking founding equity in an AXL-originated venture where the studio is your co-founder and holds founding shares?","For the chosen opportunity, how does solving one well-defined problem unlock a $1B+ market, and how would you convert AXL's strategic first customer into early revenue?"],"fr":["Etes-vous pret a vous relocaliser et a batir a temps plein a Toronto, et a co-fonder une entreprise autour d'un probleme qu'AXL a deja valide plutot que votre propre idee?","Quel est votre bilan demontre de 0 a 1, et etes-vous a l'aise de prendre une participation fondatrice dans une entreprise initiee par AXL ou le studio est votre cofondateur et detient des actions fondatrices?","Pour l'opportunite choisie, comment la resolution d'un probleme bien defini debloque-t-elle un marche de plus d'un milliard, et comment convertiriez-vous le premier client strategique d'AXL en premiers revenus?"]},"coInvestors":[{"name":"Dentons","slug":"dentons"},{"name":"RSM Canada","slug":"rsm-canada"},{"name":"Dillon Consulting","slug":"dillon-consulting"},{"name":"Compugen","slug":"compugen"},{"name":"Push Media","slug":"push-media"},{"name":"University of Toronto","slug":"university-of-toronto"},{"name":"Vector Institute","slug":"vector-institute"},{"name":"David Martin (SMART Technologies)","slug":"david-martin-smart-technologies"},{"name":"Gord Kurtenbach (ex-Autodesk Research)","slug":"gord-kurtenbach-ex-autodesk-research"},{"name":"Joshua Greer (RealD)","slug":"joshua-greer-reald"},{"name":"Frank Mersch (Front Street Capital)","slug":"frank-mersch-front-street-capital"},{"name":"Rob McEwen (McEwen Mining)","slug":"rob-mcewen-mcewen-mining"}],"people":[{"fullName":"Daniel Wigdor","role":"Partner, Co-Founder & CEO","linkedinURL":"https://www.linkedin.com/in/danielwigdor","initials":"DW","avatarBgColor":"#534AB7"},{"fullName":"Tovi Grossman","role":"Partner, Chief Scientist","linkedinURL":"https://www.linkedin.com/in/tovigrossman","initials":"TG","avatarBgColor":"#1D9E75"},{"fullName":"Ray Sharma","role":"Partner, Senior Fellow","linkedinURL":"","initials":"RS","avatarBgColor":"#A32D2D"},{"fullName":"David Sharma","role":"Partner, Chief Growth Officer","linkedinURL":"","initials":"DS","avatarBgColor":"#712B13"},{"fullName":"Aniket Patel","role":"Partner, Chief Analyst","linkedinURL":"","initials":"AP","avatarBgColor":"#0EA5E9"},{"fullName":"Patti Macdonald","role":"Managing Director, Innovation Strategy","linkedinURL":"","initials":"PM","avatarBgColor":"#F59E0B"},{"fullName":"James Stojanov","role":"Vice President, AI Strategy and Growth","linkedinURL":"","initials":"JS","avatarBgColor":"#EC4899"},{"fullName":"Kyryl Truskovskyi","role":"Lead AI Advisor","linkedinURL":"","initials":"KT","avatarBgColor":"#14B8A6"}],"portfolio":[],"verifiedSource":"https://axl.vc","lastVerifiedAt":"2026-06-01","editorialLevel":"Long tail (light)"},{"id":"rec137","slug":"telus-ventures","name":"TELUS Ventures","type":"CVC","conviction":"cvc","stages":["Seed","Series A","Series B+"],"sectors":["Healthtech / Biotech","AI / ML","Fintech / Insurtech","Marketplace / Consumer","Climate / Energy"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"$500K-$15M"},"leadFollow":"Both","province":["BC","ON","QC","OTHER"],"hq":{"city":"Vancouver","region":"BC"},"languages":["EN"],"founded":2001,"fundSize":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 and TELUS' global reach, the investment arm of TELUS.","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 & VP TELUS","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 & Director of 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":"Principal","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 A","year":2025},{"name":"Optable","sector":"AI / ML","stage":"Series A","year":2025},{"name":"Clinia","sector":"Healthtech / Biotech","stage":"Series A","year":2024},{"name":"Miovision","sector":"AI / ML","stage":"Series B+","year":2023}],"verifiedSource":"https://www.telus.com/en/ventures/global-ventures","lastVerifiedAt":"2026-06-18","editorialLevel":"Top 30 (full)"},{"id":"rec138","slug":"white-star-capital","name":"White Star Capital","type":"VC","conviction":"tech-actif","stages":["Seed","Series A","Series B+"],"sectors":["Fintech / Insurtech","AI / ML","SaaS / Vertical SaaS","Web3 / Crypto","Marketplace / Consumer"],"ticket":{"min":2000000,"max":15000000,"currency":"CAD","label":"$2M-$15M"},"leadFollow":"Lead","province":["QC"],"hq":{"city":"New York","region":"OTHER"},"languages":["EN","FR"],"founded":2014,"fundSize":{"value":446,"currency":"CAD","vintage":2021},"activity":"Actif","lastDealDate":"2026-04-04","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, Guernsey, Tokyo, Singapore) opens genuine cross-border corridor access. Cheques of $2M to $15M CAD across B2B tech, SaaS, fintech, climate and AI. A platform built for founders thinking globally beyond Canada from day one, with strong follow-on capacity and an active operator network across multiple ecosystems.","fr":"Gestionnaire de capital de risque international fondé par des Montréalais, qui investit dans des fondateurs ambitieux à travers trois véhicules (Early Growth en Série A et B, Digital Asset sur la blockchain, et Structured Growth en capital hybride). Présence sur huit marchés (Montréal, Toronto, New York, Londres, Paris, Guernesey, Tokyo, Singapour) qui ouvre un vrai accès aux corridors transfrontaliers. Tickets de 2 à 15 M$ 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 technology investment platform","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":"BDC Capital","slug":"bdc-capital"},{"name":"Caisse de depot et placement du Quebec","slug":"caisse-de-depot-et-placement-du-quebec"},{"name":"Desjardins Capital","slug":"desjardins-capital"},{"name":"MaRS Investment Accelerator Fund (IAF)","slug":"mars-investment-accelerator-fund-iaf"}],"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"},{"fullName":"Sanjay Zimmermann","role":"General Partner","linkedinURL":"","initials":"SZ","avatarBgColor":"#0EA5E9"},{"fullName":"Catherine Ouellet-Dupuis","role":"General Partner","linkedinURL":"","initials":"CO","avatarBgColor":"#F59E0B"}],"portfolio":[{"name":"Vention","sector":"Deeptech / Hardware","stage":"Series B+","year":2026},{"name":"Billdr","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2026},{"name":"Trayd","sector":"SaaS / Vertical SaaS","stage":"Series A","year":2026},{"name":"Borrowell","sector":"Fintech / Insurtech","stage":"Series B+","year":2021},{"name":"Ledn","sector":"Web3 / Crypto","stage":"Series B+","year":2022},{"name":"Novisto","sector":"SaaS / Vertical SaaS","stage":"Series B+","year":2022},{"name":"Dialogue","sector":"Healthtech / Biotech","stage":"Series A 2018 (exit Sun Life)","year":null},{"name":"Mnubo","sector":"SaaS / Vertical SaaS","stage":"Series A 2015 (exit Aspen)","year":null}],"verifiedSource":"https://whitestarcapital.com/","lastVerifiedAt":"2026-06-03","editorialLevel":"Top 30 (full)"},{"id":"rec139","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":25000000,"currency":"CAD","label":"$5M to $30M CAD"},"leadFollow":"Both","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2011,"fundSize":{"value":1020,"currency":"CAD","vintage":2020},"activity":"Selectif","lastDealDate":"2026-02-05","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, invests at Series A through C with first cheques of US$5M to US$25M. Fund IV closed in 2020 at US$750M, the firm's first transatlantic fund. Strategic repositioning in 2025 toward Canada, with a slower pace following the departure of Michael Yang and cuts to the US team (headcount fell to 12 from 19).","fr":"Bras VC de la caisse de retraite OMERS, axe sur la tech early-stage en Amerique du Nord. OMERS Ventures investit en Serie A a C dans le SaaS horizontal, le SaaS vertical, la fintech et l'enablement IA. Le Fonds IV a cloture en 2020 a 750 M$ US, premier fonds transatlantique de la firme. Repositionnement strategique en 2025 vers le Canada, avec un rythme ralenti apres le depart 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","linkedinURL":"https://www.linkedin.com/in/marissa-schlueter-moore/","initials":"MM","avatarBgColor":"#F59E0B"},{"fullName":"Taku Murahwi","role":"Investor","linkedinURL":"","initials":"TM","avatarBgColor":"#EC4899"},{"fullName":"Julianna Vitolo","role":"Investor","linkedinURL":"","initials":"JV","avatarBgColor":"#14B8A6"}],"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}],"verifiedSource":"https://www.omersventures.com/","lastVerifiedAt":"2026-06-18","editorialLevel":"Long tail (light)"},{"id":"rec140","slug":"extreme-venture-partners","name":"Extreme Venture Partners","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed","Series A"],"sectors":["SaaS / Vertical SaaS","Fintech / Insurtech","Marketplace / Consumer","Healthtech / Biotech"],"ticket":{"min":100000,"max":500000,"currency":"CAD","label":"$500K-$2.5M"},"leadFollow":"Lead","province":["ON"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2007,"fundSize":{"value":10,"currency":"CAD","vintage":2016},"activity":"Dormant","lastDealDate":null,"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 $100K to $500K CAD with a lead posture, plus highly operational support on first hires, go-to-market motion and Series A readiness. The fund is known for a pragmatic approach: high conviction, disciplined follow-on, and a dense Toronto entrepreneur-mentor network.","fr":"Extreme Venture Partners (EVP) est un VC torontois d'amorcage actif depuis 2007, avec ~270 M$ CA d'AUM cumules sur trois fonds et plus de 100 societes en portefeuille. EVP cible les startups B2B logicielles dans le corridor Toronto Waterloo, en pre amorcage et amorcage. Tickets de 100 K$ a 500 K$ CA, en posture lead, avec accompagnement tres operationnel sur les premiers recrutements, le go to market et la levee de la Serie A. Le fonds revendique une approche pragmatique : conviction forte, follow on disciplines et un reseau dense de mentors entrepreneurs torontois."},"tagline":{"en":"Toronto-Waterloo seed micro-VC, lead cheques $100K-$500K","fr":"VC d'amorcage Toronto Waterloo, tickets 100 K$ a 500 K$"},"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":"Ray Sharma","role":"Founding Partner, CEO","linkedinURL":"https://www.linkedin.com/in/raysharma/","initials":"RS","avatarBgColor":"#534AB7"},{"fullName":"Ken Teslia","role":"Founding Partner, Chairman","linkedinURL":"https://www.linkedin.com/in/ken-teslia-7056a719/","initials":"KT","avatarBgColor":"#1D9E75"},{"fullName":"Imran Bashir","role":"Founding Partner, COO","linkedinURL":"https://ca.linkedin.com/in/ibashir","initials":"IB","avatarBgColor":"#A32D2D"},{"fullName":"Ian Ainsworth","role":"Founding Partner, COO","linkedinURL":"","initials":"IA","avatarBgColor":"#712B13"},{"fullName":"Aniket Patel","role":"Principal","linkedinURL":"","initials":"AP","avatarBgColor":"#0EA5E9"}],"portfolio":[{"name":"Xtreme Labs","sector":"SaaS / Vertical SaaS","stage":"Seed","year":null},{"name":"Wagepoint","sector":"SaaS / Vertical SaaS","stage":"Seed","year":2014},{"name":"ThinkData Works","sector":"Devtools / Infra","stage":"Seed","year":null},{"name":"d1g1t","sector":"Fintech / Insurtech","stage":"Seed","year":null},{"name":"Foxquilt","sector":"Fintech / Insurtech","stage":"Seed","year":null},{"name":"ACTO","sector":"SaaS / Vertical SaaS","stage":"Seed","year":null},{"name":"Influitive","sector":"SaaS / Vertical SaaS","stage":"Seed","year":null}],"verifiedSource":"https://www.evp.vc/portfolio","lastVerifiedAt":"2026-06-18","editorialLevel":"Top 30 (full)"},{"id":"rec141","slug":"pangaea-ventures","name":"Pangaea Ventures","type":"VC","conviction":"pure-play","stages":["Seed","Series A","Series B+"],"sectors":["Climate / Energy","Healthtech / Biotech","Deeptech / Hardware"],"ticket":{"min":1000000,"max":5000000,"currency":"CAD","label":"$1M to $5M CAD"},"leadFollow":"Both","province":["BC","OTHER"],"hq":{"city":"Vancouver","region":"BC"},"languages":["EN"],"founded":2000,"fundSize":{"value":115,"currency":"CAD","vintage":2024},"activity":"Selectif","lastDealDate":"2026-06-15","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/andrewhaughian/","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":"https://www.linkedin.com/in/janellegoulard/","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 C","year":2024},{"name":"Nautilus Data Technologies","sector":"Deeptech / Hardware","stage":"Series B","year":2026}],"verifiedSource":"https://www.pangaeaventures.com/portfolio","lastVerifiedAt":"2026-06-18","editorialLevel":"Long tail (light)"},{"id":"rec142","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":5,"currency":"CAD","vintage":2025},"activity":"Actif","lastDealDate":"2025-12-08","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 on a $15M Fund I target, with 25% of capital reserved for follow-on in top performers, so follow-on is selective. Trillick relies on national syndicate partners to anchor Series A rounds for breakout Manitoba companies.","fr":"Fonds de premier cheque sur un Fonds I cible a 15 M$, avec 25% du capital reserve au follow-on sur les meilleures societes, donc le follow-on est selectif. Trillick s'appuie sur des partenaires de syndication nationaux pour ancrer les Series A des meilleures societes 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":"M25","slug":"m25"}],"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}],"verifiedSource":"https://trillick.ca/","lastVerifiedAt":"2026-06-19","editorialLevel":"Long tail (light)"},{"id":"rec143","slug":"bcf-ventures","name":"BCF Ventures","type":"CVC","conviction":"cvc","stages":["Series A","Series B+"],"sectors":["AI / ML","SaaS / Vertical SaaS","Cybersecurity","Fintech / Insurtech","Marketplace / Consumer"],"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":2022},"activity":"Selectif","lastDealDate":"2024-11-28","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 CVC, spin-off of BCF Business Law (launched June 2018), a ~$12M super-angel fund. It invests at Series A and Series B in AI-driven enterprise software (applied AI and analytics, CRM, ERP, supply chain) plus opportunistic cybersecurity, fintech and digital-native consumer (sports, wellness, gaming, entertainment). Mostly Canada and the US, opportunistically Israel and Europe. It never leads the first round, taking a minority position with pro-rata follow-on, and adds value through the BCF legal-commercial network.","fr":"CVC montrealais issu du cabinet BCF Avocats d'affaires (lance le 1 juin 2018), fonds super angel d'environ 12 M$. Il investit en Serie A et Serie B dans le logiciel d'entreprise pilote par l'IA (IA appliquee et analytique, CRM, ERP, chaine d'approvisionnement), avec des positions opportunistes en cybersecurite, fintech et consommateur numerique (sport, bien-etre, jeu video, divertissement). Principalement au Canada et aux Etats-Unis, opportunistement en Israel et en Europe. Il ne mene jamais le premier tour, prend une position minoritaire avec suivi pro-rata, et apporte le reseau juridique et commercial de BCF."},"tagline":{"en":"Quebec's first super angel fund, spun from BCF Business Law.","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":"Arthur Ventures","slug":"arthur-ventures"},{"name":"Round13 Capital","slug":"round13-capital"},{"name":"InterGen Capital","slug":"intergen-capital"},{"name":"ATB Financial","slug":"atb-financial"}],"people":[{"fullName":"Sergio A. Escobar","role":"CEO & Partner","linkedinURL":"https://www.linkedin.com/in/sergescobar/","initials":"SA","avatarBgColor":"#534AB7"},{"fullName":"Anne-Marie Boucher","role":"Chair of the Board & Founding Investor","linkedinURL":"","initials":"AB","avatarBgColor":"#1D9E75"},{"fullName":"Bonnie Chau","role":"Principal","linkedinURL":"https://www.linkedin.com/in/chaubonnie/","initials":"BC","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Athennian","sector":"SaaS / Vertical SaaS","stage":"Series A","year":2020},{"name":"Class8","sector":"SaaS / Vertical SaaS","stage":"Series A","year":2024},{"name":"FightCamp","sector":"Marketplace / Consumer","stage":"Series B+","year":2021},{"name":"MedStack","sector":"Healthtech / Biotech","stage":"Exit","year":null}],"verifiedSource":"https://bcfventures.vc/","lastVerifiedAt":"2026-06-19","editorialLevel":"Long tail (light)"},{"id":"rec144","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":400000,"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":2025},"activity":"Actif","lastDealDate":"2026-04-21","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 $14M fund invests pre-seed and seed across the country, can lead rounds, and held its final close in September 2025.","fr":"Spring Impact Capital est un fonds de capital de risque d'impact base a Vancouver qui soutient des startups canadiennes en amorcage innovant en sante humaine et planetaire, du climat au healthtech. Le fonds de 14 M$ investit au pre-amorcage et a l'amorcage partout au pays, peut mener des tours, et a tenu sa cloture finale en septembre 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, Managing Partner","linkedinURL":"https://www.linkedin.com/in/keithippel/","initials":"KI","avatarBgColor":"#534AB7"},{"fullName":"Graham Day","role":"Co-Founder, Managing Partner","linkedinURL":"https://www.linkedin.com/in/grahamthomasday/","initials":"GD","avatarBgColor":"#1D9E75"},{"fullName":"Olivia Hornby","role":"Co-Founder, Managing Partner","linkedinURL":"https://www.linkedin.com/in/olivia-hornby604/","initials":"OH","avatarBgColor":"#A32D2D"},{"fullName":"Larissa Sequeira","role":"Investment Team","linkedinURL":"https://www.linkedin.com/in/larissasequeira/","initials":"LS","avatarBgColor":"#712B13"}],"portfolio":[{"name":"BioAlert Solutions","sector":"Climate / Energy","stage":"Seed","year":2025},{"name":"RetinaLogik","sector":"Healthtech / Biotech","stage":"NC","year":null},{"name":"Ginger Desk","sector":"Healthtech / Biotech","stage":"NC","year":null},{"name":"Carbonyx","sector":"Climate / Energy","stage":"Pre-seed","year":2026},{"name":"JetScaleAI","sector":"Climate / Energy","stage":"Seed","year":2026},{"name":"Open Ocean Robotics","sector":"Climate / Energy","stage":"NC","year":null},{"name":"Skyward Wildfire Technologies","sector":"Climate / Energy","stage":"NC","year":null},{"name":"Cognito Health","sector":"Healthtech / Biotech","stage":"NC","year":null},{"name":"COSM","sector":"Healthtech / Biotech","stage":"NC","year":null},{"name":"Glidance","sector":"Healthtech / Biotech","stage":"NC","year":null},{"name":"Opalia","sector":"Healthtech / Biotech","stage":"NC","year":null},{"name":"Tydra Labs","sector":"Climate / Energy","stage":"NC","year":null},{"name":"Variablegrid","sector":"Climate / Energy","stage":"NC","year":null}],"verifiedSource":"https://springimpactcapital.com/","lastVerifiedAt":"2026-06-01","editorialLevel":"Long tail (light)"},{"id":"rec145","slug":"genson-capital","name":"Genson Capital","type":"Family Office","conviction":"pure-play","stages":["Pre-seed","Seed","Series A"],"sectors":["Healthtech / Biotech"],"ticket":{"min":null,"max":null,"currency":"CAD","label":"Not disclosed"},"leadFollow":"Lead","province":["QC"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2017,"fundSize":null,"activity":"Actif","lastDealDate":"2025-04-02","website":"","linkedinURL":"","logo":"/assets/vc-logos/genson-capital.png?v=4","logoBgColor":"#EF4444","thesis":{"en":"Genson Capital is a Montreal-based private investor specializing in life sciences and MedTech, associated with the Courtois family and operating like a family office rather than a conventional fund with disclosed LPs. It invests directly in companies and is willing to lead, writing early cheques from pre-seed through Series A, with disclosed bets including Morphocell, Neurenati and Vopemed. Founders should understand there is no public website or open application process: this is a relationship-driven investor reached through warm introductions and Quebec life-sciences networks. It gravitates toward science-heavy healthtech and biotech, often emerging from Montreal research institutions such as CHU Sainte-Justine and Universite de Montreal. Realistically, the best path in is a credible referral from a co-investor (for example Investissement Quebec) or a portfolio founder, paired with strong clinical or technical proof. Treat Genson as a conviction-led, low-profile lead investor for Quebec life-sciences companies rather than a high-volume seed shop.","fr":"Genson Capital est un investisseur prive montrealais specialise en sciences de la vie et MedTech, associe a la famille Courtois et operant comme un family office plutot qu'un fonds conventionnel a LP divulgues. Il investit directement dans les entreprises et accepte de mener, emettant des cheques precoces du pre-amorcage a la Serie A, avec des paris divulgues incluant Morphocell, Neurenati et Vopemed. Les fondateurs doivent comprendre qu'il n'y a pas de site web public ni de processus d'admission ouvert: c'est un investisseur axe sur la relation, atteint par des introductions chaudes et les reseaux des sciences de la vie quebecois. Il gravite vers le healthtech et le biotech a forte composante scientifique, souvent issus d'institutions de recherche montrealaises comme le CHU Sainte-Justine et l'Universite de Montreal. Realistement, la meilleure voie d'entree est une reference credible d'un co-investisseur (par exemple Investissement Quebec) ou d'un fondateur du portefeuille, avec une preuve clinique ou technique solide. Voyez Genson comme un investisseur meneur discret et de conviction pour les entreprises de sciences de la vie quebecoises, pas un fonds d'amorcage a fort volume."},"tagline":{"en":"Backing Quebec life sciences from the start.","fr":"Soutenir les sciences de la vie quebecoises des le depart."},"valueAdd":{"en":["Specialist conviction in life sciences and MedTech, not a generalist","Willing to lead early-stage rounds (pre-seed through Series A)","Patient, family-office-style capital without disclosed fund-cycle pressure","Deeply embedded in the Montreal life-sciences ecosystem (CHU Sainte-Justine, Universite de Montreal spinouts)","Track record of attracting strong co-investors and follow-on capital such as Investissement Quebec and CDP Venture Capital"],"fr":["Conviction specialisee en sciences de la vie et MedTech, pas un generaliste","Pret a mener des tours precoces (du pre-amorcage a la Serie A)","Capital patient de type family office sans pression de cycle de fonds","Profondement integre a l'ecosysteme des sciences de la vie de Montreal (CHU Sainte-Justine, essaimages de l'Universite de Montreal)","Historique d'attraction de co-investisseurs solides et de capital de suivi (Investissement Quebec, CDP Venture Capital)"]},"followOnNarrative":{"en":"Genson backs a small number of science-driven healthtech and biotech companies and stays close, including taking board seats (Marc Courtois joined Morphocell's board). It tends to anchor early rounds and then help bring in institutional co-investors and non-dilutive partners over time. Support is hands-on and relationship-based rather than program or platform-driven.","fr":"Genson soutient un petit nombre d'entreprises healthtech et biotech a forte composante scientifique et reste proche, y compris en siegeant au conseil (Marc Courtois a rejoint le conseil de Morphocell). Il tend a ancrer les tours precoces puis a aider a faire entrer des co-investisseurs institutionnels et des partenaires non dilutifs au fil du temps. Le soutien est concret et base sur la relation, pas axe programme ou plateforme."},"keyQuestions":{"en":["What is your clinical or technical proof point to date (preclinical data, regulatory pathway, IP position), and what does the next 18 months of validation require?","Are you a Quebec-based life-sciences or MedTech company, ideally with ties to the local research ecosystem, and who in that network can vouch for you?","How much are you raising, who else is in or circling the round (for example Investissement Quebec), and would Genson be leading or following?"],"fr":["Quelle est votre preuve clinique ou technique a ce jour (donnees precliniques, parcours reglementaire, position de PI), et que requierent les 18 prochains mois de validation?","Etes-vous une entreprise de sciences de la vie ou MedTech basee au Quebec, idealement liee a l'ecosysteme de recherche local, et qui dans ce reseau peut se porter garant de vous?","Combien levez-vous, qui d'autre est dans le tour ou y tourne autour (par exemple Investissement Quebec), et Genson menerait-il ou suivrait-il?"]},"coInvestors":[{"name":"Investissement Quebec","slug":"investissement-quebec"},{"name":"CDP Venture Capital","slug":"cdp-venture-capital"},{"name":"CQDM","slug":"cqdm"},{"name":"Takeda","slug":"takeda"}],"people":[{"fullName":"Jacques Courtois","role":"Partner","linkedinURL":"","initials":"JC","avatarBgColor":"#534AB7"},{"fullName":"Marc A. Courtois","role":"Director","linkedinURL":"","initials":"MA","avatarBgColor":"#1D9E75"}],"portfolio":[{"name":"Morphocell Technologies","sector":"Healthtech / Biotech","stage":"Series A","year":2024},{"name":"Neurenati Therapeutics","sector":"Healthtech / Biotech","stage":"Seed","year":2024},{"name":"Vopemed","sector":"Healthtech / Biotech","stage":"Pre-seed","year":2025}],"verifiedSource":"","lastVerifiedAt":"2026-06-01","editorialLevel":""},{"id":"rec146","slug":"antler-canada","name":"Antler Canada","type":"VC","conviction":"generaliste","stages":["Pre-seed","Seed"],"sectors":["SaaS / Vertical SaaS","AI / ML","Fintech / Insurtech"],"ticket":{"min":250000,"max":250000,"currency":"CAD","label":"C$250k for ~9% at inception"},"leadFollow":"Lead","province":["ON","QC","BC","AB","OTHER"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2021,"fundSize":{"value":23,"currency":"CAD","vintage":2023},"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":"We spark startups to life","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":[],"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"},{"fullName":"Naman Budhdeo","role":"Partner Emeritus","linkedinURL":"","initials":"NB","avatarBgColor":"#712B13"}],"portfolio":[{"name":"Chexy","sector":"Fintech / Insurtech","stage":"Pre-seed","year":2022},{"name":"zofiQ","sector":"AI / ML","stage":"Pre-seed","year":2023},{"name":"EZee Assist","sector":"SaaS / Vertical SaaS","stage":"Pre-seed","year":2024},{"name":"Mycroft","sector":"Cybersecurity","stage":"Pre-seed","year":2024},{"name":"NetNow","sector":"Fintech / Insurtech","stage":"Pre-seed","year":2023},{"name":"FlowLinker","sector":"SaaS / Vertical SaaS","stage":"Pre-seed","year":2024},{"name":"Glassbox","sector":"Fintech / Insurtech","stage":"Pre-seed","year":2024}],"verifiedSource":"https://betakit.com/antler-canada-adds-former-quandl-ceo-tammer-kamel-as-vc-firm-gears-up-for-fund-ii/","lastVerifiedAt":"2026-06-05","editorialLevel":"Top 30 (full)"},{"id":"rec147","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","Deeptech / Hardware"],"ticket":{"min":200000,"max":null,"currency":"CAD","label":"Syndicate model; average member investment ~200K CAD; companies typically raise 500K to 2M CAD"},"leadFollow":"Both","province":["ON","QC"],"hq":{"city":"Ottawa","region":"ON"},"languages":["EN","FR"],"founded":2009,"fundSize":null,"activity":"Tres actif","lastDealDate":"2025-06-19","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. 60+ members including new and established angels, VCs and family offices, with 35% of members including at least one woman. Since inception, CAN members have invested more than $66M in early-stage companies, leveraging over $500M in additional capital from grants, syndication and VC follow-on. 160 companies backed across software, hardware, cleantech, agtech, biotech and SaaS. Notable investments: Planetary, BluWave-ai, Plum.io. Latest deal: Xatoms $3M pre-seed (led by Quantacet) on June 19, 2025, alongside Genesis Ventures.","fr":"Capital Angel Network (CAN) est le réseau d'investisseurs anges de la région d'Ottawa-Gatineau, fondé en 2009 comme organisation à but non lucratif d'investisseurs accrédités. 55+ membres actifs incluant des anges nouveaux et établis, des VCs et des family offices, dont 30% de femmes. Depuis sa création, les membres de CAN ont investi plus de 67 M$ 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-Kanata's largest early-stage angel network, 160+ companies since 2009.","fr":"Le réseau d'anges bilingue d'Ottawa-Gatineau."},"valueAdd":{"en":["Ottawa-Gatineau hub access","60+ accredited investor members","35% of members include at least one woman","$500M+ leverage track record","B2B SaaS, IoT, cybersecurity focus"],"fr":["Accès hub Ottawa-Gatineau","55+ membres investisseurs accrédités","30% de femmes membres","Effet de levier 700 M$+ 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 60+ active angels and family offices regularly recommit to winners and have unlocked over $500M in additional capital via grants, syndication and VC follow-on alongside Quantacet, BDC Capital and Mistral Venture Partners.","fr":"Les membres de CAN investissent individuellement plutot que via un fonds, donc le suivi se decide dossier par dossier. Les 55+ anges actifs et family offices remettent souvent au pot sur les gagnants et ont debloque plus de 700 M$ 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":"BDC Capital","slug":"bdc-capital"},{"name":"Maple Leaf Angels","slug":"maple-leaf-angels"},{"name":"AQC Capital","slug":"aqc-capital"},{"name":"Nimbus Synergies","slug":"nimbus-synergies"},{"name":"Anges Quebec","slug":"anges-quebec"},{"name":"Leva Capital","slug":"leva-capital"}],"people":[{"fullName":"Jennifer Francis","role":"Board Chair","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":"Xatoms","sector":"Climate / Energy","stage":"Pre-seed","year":2025},{"name":"EmergConnect","sector":"Healthtech / Biotech","stage":"Seed","year":2025},{"name":"Planetary","sector":"Climate / Energy","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}],"verifiedSource":"https://www.capitalangels.ca/about","lastVerifiedAt":"2026-06-26","editorialLevel":"Top 30 (full)"},{"id":"rec148","slug":"weave-vc","name":"Weave VC","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed"],"sectors":["AI / ML","SaaS / Vertical SaaS","Fintech / Insurtech","Marketplace / Consumer","Climate / Energy","Healthtech / Biotech","Deeptech / Hardware"],"ticket":{"min":150000,"max":300000,"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":"Dormant","lastDealDate":"2025-05-13","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), open opportunistically Canada-wide. Weave closed its inaugural $6M Fund I in October 2024 and finished deploying it in June 2025. The thesis is sector-agnostic across B2B software and deep tech, spanning climate, AI, fintech, health and frontier tech. Tech-active approach with a strong regional anchor and a focus on first institutional cheques of $150K to $300K for 3 to 6% ownership. The team backs early Western Canadian founders who need a local lead with conviction, fast decisions and meaningful operational support before scaling into national or US capital.","fr":"Fonds vancouverois pre-seed pour l'Ouest canadien (Colombie-Britannique, Alberta, Saskatchewan), ouvert au reste du Canada de facon opportuniste. Weave a cloture son fonds inaugural Fund I de 6 M$ en octobre 2024 et a fini de le deployer en juin 2025. La these est sectoriellement agnostique sur logiciels B2B et deep tech, couvrant climat, IA, fintech, sante et technologies de frontiere. Approche tech-actif avec ancrage regional et premiers cheques institutionnels de 150 000 a 300 000 $ pour 3 a 6% du capital."},"tagline":{"en":"Western Canada pre-seed weaver.","fr":"Tisseur pre-seed de l'Ouest canadien."},"valueAdd":{"en":["Western Canada pre-seed","Sector-agnostic B2B and deep tech","Vancouver ecosystem","First institutional check","Operational support and warm intros"],"fr":["Pre-seed Ouest canadien","B2B et deep tech sans these sectorielle","Ecosysteme vancouverois","Premier cheque institutionnel","Support operationnel et mises en relation"]},"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":"Red Thread Ventures","slug":"red-thread-ventures"},{"name":"Sprout Fund","slug":"sprout-fund"},{"name":"Mavan Capital Partners","slug":"mavan-capital-partners"},{"name":"Inverted Ventures","slug":"inverted-ventures"},{"name":"LOI Ventures","slug":"loi-ventures"},{"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":"https://www.linkedin.com/in/jeffreymanner/","initials":"JM","avatarBgColor":"#1D9E75"},{"fullName":"Mark Mitchell","role":"General Partner","linkedinURL":"https://www.linkedin.com/in/mark-mitchell1992/","initials":"MM","avatarBgColor":"#A32D2D"}],"portfolio":[{"name":"Wyvern","sector":"Deeptech / Hardware","stage":"Pre-seed","year":2022},{"name":"LightStrike AI","sector":"AI / ML","stage":"Pre-seed","year":2024},{"name":"Innova Cleantech","sector":"Climate / Energy","stage":"Seed","year":2025},{"name":"Blossom Social","sector":"Fintech / Insurtech","stage":"Seed","year":2025},{"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}],"verifiedSource":"https://weavevc.com/","lastVerifiedAt":"2026-06-19","editorialLevel":"Long tail (light)"},{"id":"rec149","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":["ON","OTHER"],"hq":{"city":"Toronto","region":"ON"},"languages":["EN"],"founded":2021,"fundSize":null,"activity":"Selectif","lastDealDate":null,"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 seed fund for racialized women and Black founders, founded in 2021 by Melissa Allen. A founding member of the Canadian Startup Capital Association, Capital M writes the first institutional cheque across a multi-sector thesis, unlocking structural capital for founders historically underfunded in Canada.","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"},{"fullName":"Randall Craig","role":"Venture Partner","linkedinURL":"https://www.linkedin.com/in/randallcraig/","initials":"RC","avatarBgColor":"#1D9E75"},{"fullName":"Bryan Duarte","role":"Venture Partner","linkedinURL":"https://www.linkedin.com/in/duartebryan/","initials":"BD","avatarBgColor":"#A32D2D"}],"portfolio":[],"verifiedSource":"https://www.capitalmvc.com/","lastVerifiedAt":"2026-06-22","editorialLevel":"Long tail (light)"},{"id":"rec150","slug":"glen-ventures","name":"Glen Ventures","type":"VC","conviction":"pure-play","stages":["Pre-seed","Seed"],"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":null,"activity":"Actif","lastDealDate":"2025-07-02","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":"Montreal early-stage healthtech VC, MUHC-affiliated, investing pre-seed and seed via SPVs while raising a dedicated fund. A $5M Eureka co-investment mandate (late 2024) funds up to four startups whose IP originates from Quebec public research, while the firm invests more broadly in healthtech outside the mandate. It led the seed rounds of Paperplane Therapeutics and Sensifai Health.","fr":"Glen Ventures est une firme de capital de risque montrealaise qui investit exclusivement en healthtech au stade d'amorcage, avec un accent sur la commercialisation de la propriete intellectuelle des institutions de recherche publiques du Quebec. Affiliee au Centre universitaire de sante McGill, elle a obtenu un mandat Eureka de 5 M$ fin 2024 et a mene le tour d'amorcage de Paperplane Therapeutics."},"tagline":{"en":"Backing visionary entrepreneurs to reshape healthcare through technology.","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":[{"fullName":"Michael Goodman","role":"Founding Partner","linkedinURL":"","initials":"MG","avatarBgColor":"#534AB7"},{"fullName":"Samuel Ohayon","role":"Managing Partner","linkedinURL":"","initials":"SO","avatarBgColor":"#1D9E75"}],"portfolio":[{"name":"Paperplane Therapeutics","sector":"Healthtech / Biotech","stage":"Seed","year":2025},{"name":"Sensifai Health","sector":"Healthtech / Biotech","stage":"Seed","year":2025}],"verifiedSource":"https://glenventures.ca/about","lastVerifiedAt":"2026-06-01","editorialLevel":"Long tail (light)"},{"id":"rec151","slug":"boreal-ventures","name":"Boreal Ventures","type":"VC","conviction":"tech-actif","stages":["Pre-seed","Seed"],"sectors":["SaaS / Vertical SaaS","Fintech / Insurtech","Healthtech / Biotech","Deeptech / Hardware","AI / ML"],"ticket":{"min":1500000,"max":3000000,"currency":"CAD","label":"$1.5M to $3M CAD"},"leadFollow":"Lead","province":["QC","ON","OTHER"],"hq":{"city":"Montréal","region":"QC"},"languages":["EN","FR"],"founded":2021,"fundSize":{"value":38,"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":"Canadian B2B seed fund, operator and GTM-led. Born from a partnership with Centech (ETS) in 2021 (Fund I, $26M, deep tech), Boreal pivoted with Fund II ($60M target, $43M first close, March 2026) away from scientific and R&D risk toward hands-on commercialization, helping founders go from product-market fit to a predictable revenue engine. Invests at seed across Canada with a Quebec focus, in vertical SaaS and AI, industrial tech, fintech and digital health. Co-led by David Charbonneau and former Lightspeed president JD Saint-Martin.","fr":"Fonds seed B2B quebecois, operateur et axe go-to-market. Ne en 2021 d'un partenariat avec le Centech (ETS) (Fonds I, 26 M$ puis plus de 38 M$, deeptech), Boreal a pivote avec le Fonds II (60 M$ cible, premier closing de 43 M$, mars 2026) en s'eloignant du risque scientifique et de R&D vers la commercialisation concrete, aidant les fondateurs a passer de l'adequation produit-marche a un moteur de revenus previsible. Investit au stade seed partout au Canada avec un focus quebecois, en vertical SaaS et IA, tech industrielle, fintech et sante numerique. Co-dirige par David Charbonneau et l'ancien president de Lightspeed JD Saint-Martin."},"tagline":{"en":"Canada's growth partner for founders going from early traction to revenue engines.","fr":"B2B au stade seed, de l'adequation produit-marche au moteur de revenus."},"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":"Investissement Quebec","slug":"investissement-quebec"},{"name":"BDC Capital","slug":"bdc-capital"},{"name":"Teralys Capital","slug":"teralys-capital"},{"name":"Desjardins Capital","slug":"desjardins-capital"},{"name":"BKR Capital","slug":"bkr-capital"}],"people":[{"fullName":"David Charbonneau","role":"Co-Managing Partner","linkedinURL":"https://www.linkedin.com/in/davidcharbonneau1/","initials":"DC","avatarBgColor":"#534AB7"},{"fullName":"JD Saint-Martin","role":"Co-Managing Partner","linkedinURL":"https://www.linkedin.com/in/jd-saint-martin-57b31022/","initials":"JS","avatarBgColor":"#1D9E75"},{"fullName":"Samuel Lariviere","role":"Partner & CFO","linkedinURL":"https://www.linkedin.com/in/samuel-lariviere/","initials":"SL","avatarBgColor":"#A32D2D"},{"fullName":"Samuel Jobin-Morissette","role":"Vice President","linkedinURL":"https://www.linkedin.com/in/sjobin/","initials":"SJ","avatarBgColor":"#712B13"}],"portfolio":[{"name":"SmartD","sector":"Deeptech / Hardware","stage":"2023","year":null},{"name":"Femtum","sector":"Deeptech / Hardware","stage":"2023","year":null},{"name":"FLiiP","sector":"SaaS / Vertical SaaS","stage":"2025","year":null},{"name":"Kento","sector":"Healthtech / Biotech","stage":"2023","year":null},{"name":"Ditch","sector":"Healthtech / Biotech","stage":"2021","year":null},{"name":"Flojoy","sector":"Deeptech / Hardware","stage":"2023","year":null},{"name":"Trustii","sector":"SaaS / Vertical SaaS","stage":"2024","year":null},{"name":"Puzzle Medical Devices","sector":"Healthtech / Biotech","stage":"2021","year":null},{"name":"Burai","sector":"SaaS / Vertical SaaS","stage":"2023","year":null},{"name":"Haleo","sector":"Healthtech / Biotech","stage":"2022","year":null},{"name":"Palisade","sector":"Cybersecurity","stage":"2023","year":null},{"name":"Paraito","sector":"SaaS / Vertical SaaS","stage":"2025","year":null},{"name":"Sami Agtech","sector":"Deeptech / Hardware","stage":"2025","year":null},{"name":"Can-Explore","sector":"Deeptech / Hardware","stage":"2025","year":null},{"name":"Eaigle","sector":"AI / ML","stage":"2026","year":null},{"name":"Pricepoint","sector":"SaaS / Vertical SaaS","stage":"2026","year":null},{"name":"SketchDeck","sector":"AI / ML","stage":"2026","year":null}],"verifiedSource":"https://www.boreal.vc","lastVerifiedAt":"2026-06-19","editorialLevel":"Long tail (light)"}]}