16 Top Venture Capital Firms in Canada 2024

Top venture capital firms in Canada image.

As of December 2021, there are an estimated 1.2 million businesses in Canada. Whether you’re planning to start a small business or want your startup to go public someday, one thing remains true - you need capital to run your business. 

Fortunately, venture capital (VC) firms are willing to invest thousands to millions of dollars to help small businesses grow into bigger corporations. Unfortunately, it can be tough to find the best VC firms Canada offers, especially if you’re new to entrepreneurship. 

We’re here to help. We’ve compiled a list of some of the best VC firms in Canada for you to explore and get the help you need to grow your business.

We also recommend checking out our main list of the top venture capital firms.

Best Canada VC Firms

Venture capital firms in Canada are vital to helping startups reach the level of capital they need to grow, improve, and possibly change the world. VC firms are run by talented investors who have an eye for top-tier businesses with the potential for a high rate of return. 

No matter what type of business you run, there’s a VC firm out there that will be willing to fund your business and help it grow.

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1. Golden Ventures

  • Industries: Fintech, Sector Agnostic
  • Notable Portfolio Companies: Float, Properly, Wattpad

From helping fund the highly successful Wattpad that allows people to share and publish stories online to more high-tech companies like Float that automate business practices, Golden Ventures has made a name for itself as one of the most competitive and sought-after VC firms in Canada. 

This venture capitalist firm is known for both its angel investments and seed funding all across North America, although they are headquartered out of Toronto. They are methodical in choosing who they partner with and will fund both startup companies and companies that need rescue and whose mission they believe in. According to them, Golden Ventures currently has a $100 million fund, and they are willing to invest between $500,000 and $2 million for a stake in the company (usually 7 to 15%).

They are sector agnostic, meaning they will fund different types of companies, and will help companies in starting, growing, selling, and everything in between. For those companies that want both investment and funding, Golden Ventures is the perfect VC firm to pitch.

2. Georgian

  • Industries: B2B, SaaS, Fintech
  • Notable Portfolio Companies: Ritual, Polar, Shopify

Georgian is a venture capital firm based in Toronto, Ontario. The company not only specializes in SaaS and fintech businesses but they are also known for helping these companies through high-end technology and data-driven ideas.

Georgian is for businesses that already have a successful track record of monthly recurring revenue, requiring $500,000 of MRR. If your company has a proven strong work culture and high MRR and is looking to raise $25 to $75 million, you’ve come to the right place. Georgian can help not only fund your business but also make it more accessible in terms of technology.

Keep in mind that Georgian specializes specifically in growth-stage software companies. If you’re in the business of helping other companies automate their businesses, provide software, and other high-tech software, Georgian is one of the best VC firms in Canada to consider.

3. Diagram Ventures

Diagram Ventures has a number of successful fintech, climate tech, and other companies under its belt. Their portfolio is robust and includes Breathe Life, a life insurance distribution company, the popular teen mobile banking app Wingo, and much more. This VC firm is known for its commitment to developing with founders.

Unlike other capital firms that simply fund businesses, Diagram Ventures considers themselves co-founders alongside their entrepreneurs. Their wide network of global investors and experience in the world of venture capitalism allow them to improve customer outreach and capital for businesses. 

Diagram Ventures funds from the pre-seed to Series A stage. They are committed to raising capital and “de-risking” ideas to further innovation. If you’re looking to raise between $3 to $5 million in capital, this is the perfect VC firm in Canada to consider.

4. Panache Ventures

  • Industries: Fintech, Health, Blockchain, Insurtech
  • Notable Portfolio Companies: Arcadia, EnPowered

Panache Ventures is hailed as being Canada’s leading pre-seed venture fund. What makes them so desirable and unique is their sector-agnostic view, meaning they do not specialize in a single industry but rather have a diverse portfolio of businesses. Panache Ventures prefers seed-stage companies that are currently working to decentralize, automate, and expand human capabilities.

Some of their most successful businesses include the company Eli Health, which is working on innovating women’s health technology for hormone monitoring, and the B2B software company Lancey.

Pitching your idea is fairly easy. Just visit their website and submit some basic information about your business, such as what it is, your sector, and your deck. If this small VC firm likes you, they’ll make sure to reach out and do everything from providing seed investment to acquiring your company outright.

5. Chrysalix Venture Capital

  • Industries: Cleantech, Robotics 
  • Notable Portfolio Companies: Angstrom, C2CA Technology 

Sustainability and the lack thereof is one of the most challenging issues facing the world today. It’s up to entrepreneurs and their businesses to create smart, innovative solutions that are resource-focused for the good of humanity. Enter Chrysalix, a VC firm from Canada that specializes in resource-intensive industries.

The great thing about Chrysalix is that they invest in resource-focused technology and can mentor your company through its beginning stages. They have a proven track record of market and commercialization. This award-winning company has some of the biggest cleantech companies in its portfolio. Before submitting your pitch, you’ll want to think about customer value, the sustainability of your company, and whether or not you have a billion-dollar idea to offer. 

Chrysalix is fairly easy to pitch to using their online form. Keep in mind this company loves the opportunity to invest early on in the development process. However, they also invest in later stages in North America and Europe.

6. BDC Venture Capital

  • Industries: Cleantech, Agtech, Digital Health
  • Notable Portfolio Companies: Aifred Health, Alongside

BDC Capital focuses exclusively on Canadian technology companies. BDC Capital has a wealth of experience in building technology companies. They are incredibly well-connected and have over 30 years of experience helping businesses expand and helping companies make connections to reach new markets.

They have several funds to choose from, including sustainability funds, climate technology funds, deep tech funds, and industrial innovation funds, just to name a few. They are constantly releasing new funds, having released a $150 million sustainability venture fund to transition into a net-zero economy in April 2023.

BDC Capital views itself as a partner and keeps long-term investments in mind. They mostly invest in late-stage seed growth to growth stages, but this varies on the type of assistance and fund you need.

7. Inovia Capital

  • Industries: Commerce, Digital Health
  • Notable Portfolio Companies: AppDirect, Bench, Flare

Inovia Capital has its roots in Canada, and they continue to support entrepreneurs looking to advance from startups to innovative world leaders in technology. Inovia Capital is willing to invest in different stages of a business’s lifecycle, whether it’s seed stage, IPO, and other vital times of growth. Inovia is known for providing not just capital but also mentorship and valuable insights for technology companies new to the playing field.

Currently, this successful Canadian VC firm manages over $2.2 billion in assets under management, making it one of the biggest VC firms in the country. In addition, Inovia Capital has over 75 portfolio companies and 57 exits. Some of their biggest investments have been in Botpress, Conduit, and Darwin AI.

The great thing about this VC firm is that they are willing to invest in a diverse range of tech companies. While they primarily focus on B2B and B2C SaaS companies, they value health, finance, commerce, security, and travel. 

8. Real Ventures

  • Industries: Consumer, Enterprise, Health, AI Robotics
  • Notable Portfolio Companies: Accredible, Blockstream, HumanFirst AI

Real Ventures is one of the most trusted VC firms in Canada, not only because they invest in capital but because they believe strongly in investing in entrepreneurs. Real Ventures prides itself on investing in the beginning stages of development, helping entrepreneurs grow their businesses and providing valuable mentorship services every step of the way.

This is a great VC firm for those entrepreneurs looking for pre-seed investors. Even after the initial development stages, Real Ventures is committed to staying by entrepreneurs as they scale their businesses. 

From XPERTSEA, a leader in sustainable seafood farming, to Avidbots, the world’s first automated commercial cleaning robots, it’s clear Real Ventures makes decisions based on different aspects of technology and innovative design. 

While they don’t necessarily have a preferred industry, Real Ventures does state they’re looking for entrepreneurs with growth mindsets and those with a passion for their company. They are willing to have flexible ownership requirements, meaning they won’t necessarily have a seat on your board or have a specific percentage of a stake in your company. However, keep in mind that they want to make enough of a commitment to your company as you do to their venture firm.

9. Lumira Ventures

  • Industries: Biotech, Health, Therapeutics
  • Notable Portfolio Companies: Cardiac Dimensions, Congruence Therapeutics

Healthcare and life science companies are vital to helping improve patient experiences and outcomes. Lumira Ventures believes in the crucial nature of pharmaceuticals and health innovation and is one of the leading VC firms in Canada investing in these types of companies. Lumira Ventures has offices in Toronto, Montreal, Vancouver, and even Boston in the United States.

Lumira Ventures has invested over $1 billion in various investment funds over the past 20 years, making them one of the most highly experienced and sought-after companies for life science tech businesses. They’ve helped create, finance, and scale over 100 companies, showing just how experienced they are and how they might be the best VC firm you’re looking for in Canada. 

10. ArcTern Ventures

  • Industries: Clean Energy, Circular Economy
  • Notable Portfolio Companies: Carbon America,  Flashfood

ArcTern Ventures is, arguably, one of the newest and less experienced VC firms on this list. The firm has only been around since 2012, but that doesn’t stop them from making solid investments in technology companies and helping them grow and thrive. The VC firm was founded by startup entrepreneurs who understand how difficult it might be to scale operations.

This company is willing to fund businesses that can solve the Carbon problem and focus on sustainability. From clean energy to food systems, mobility, and other cleantech companies, there’s no shortage of companies that might just invent the next Earth-changing technology. ArcTern Ventures knows this, which is why they are willing to work closely with founders in various sectors to bring clean energy to the forefront.

11. Cycle Capital

  • Industries: Climate and Sustainability, Agriculture
  • Notable Portfolio Companies: VueReal, Mysa, Airex Energy

Similar to other well-respected VC firms on this list, Cycle Capital dedicates itself to improving clean technology and providing funding for its innovation. They are committed to their founders, viewing them as partners and mentoring their companies through thick and thin. Cycle Capital has various funds to choose from, managing more than $0.5 billion in its family of impact funds.

This VC firm has offices in Montreal, Toronto, and even as far as Hong Kong. They currently have $600 in funding through 6 funds, and they invest in seed, startup, development, and growth stages. Consider submitting your business plan and proposal if you have a clean tech company, are passionate about growth, and are looking for capital.

12. Yaletown Partners

  • Industries: Software, Data, Device Technology
  • Notable Portfolio Companies: ClimateAI, Zenhub

Yaletown Partners is known for its investments in software, data, and service technologies affecting various businesses. Whether your sector focuses on real estate or commerce, Yaletown wants to help clean tech businesses scale and achieve their maximum growth potential.

This VC firm has a giant network of past successful CEOs, industry leaders, and entrepreneurs from around the world who have the experience and know-how to expand and help companies with their longevity. They have offices in Vancouver, Calgary, Montreal, and Toronto.

13. Extreme Venture Partners

  • Industries: Technology, Cloud Computing, Big Data
  • Notable Portfolio Companies: Chatter, Airstream

Extreme Venture Partners has a proven track record of success. They currently operate three funds and have helped over 100 companies through venture investments. Some of these companies have gone on to be acquired by big names like Google, EA Sports, Apple, and more. 

If you’re a Toronto company seeking seed-stage investment, Extreme Venture Partners is the perfect VC firm to look into. However, keep in mind they are currently only looking for companies with some type of traction with paying clients and customers. They provide between $400,000 CAD to $1.5 million CAD to entrepreneurs. If you own intellectual property and are in the Mobile, Data & Analytics, and IoT sectors, consider submitting a pitch.

14. Pangaea Ventures

  • Industries: Climate Tech, Biotech
  • Notable Portfolio Companies: Airborne, TruTag Technologies

If your company has a focus on advanced materials, new chemistry, and biology principles, consider Pangaea Ventures for your funding. Pangaea Ventures invests exclusively in hard technology, putting emphasis and value on companies that can tackle some of the toughest issues related to climate and resources today.

This VC firm is based in Vancouver, British Columbia, and Phoenix, Arizona, in the United States. To date, some of the biggest companies in their portfolio include the health company TruTag Technologies and the food company Prime Roots. So long as your business is focused on innovation and better technology for a better humanity, you can make your pitch to Pangaea Ventures. 

With over 20 years of experience, this is one VC firm that has the skills, expertise, and capital to help get your business up and running. Make your pitch online using their easy form, or contact them for general inquiries. 

15. Vanedge Capital

  • Industries: Enterprise Software, Security 
  • Notable Portfolio Companies: Rooster Bio, Rigado

Vanedge Capital has a unique niche as a VC firm, choosing to invest in hard technology, computational biology, and analytics, among other companies. Some of their most successful investments have been in SpaceX, Plotly, and Heavy.AI. Most entrepreneurs gravitate to Vanedge Capital when they want a VC firm that can help with growth and has a solid reputation for success. 

While based in Vancouver, Vanedge also operates in the heart of technology and innovation in the United States - Silicon Valley. Vanedge Capital’s team members are experienced in technology and utilize their expertise to help companies grow and find potential future investors.

Vanedge Capital prefers to invest in the pre-seed phase, so if you’re running a startup, they could be right up your alley. The company currently manages $390 million, meaning they have more than enough experience (and capital) to help your business grow.

16. Good News Ventures

  • Industries: Big Data, B2B, SaaS
  • Notable Portfolio Companies: Bedrock AI, CoinChange, Doorr

If you’re in the pre-seed or seed stage, Good News Ventures will be one of the best options for your company. They value grit and innovation, so it’s vital to make a good pitch and first impression when seeking funding from this VC firm in Canada. Good News Ventures can help solve operations problems, meaning you can get to the next level of growth as soon as possible.

You’ll want to leverage the right technology and capture the market at the right time if you’re seeking capital from Good News Ventures. From SaaS to crypto and B2B companies, there’s no shortage of companies Good News Ventures is willing to invest in. However, you’ll want to think about your market size, market nature, your competitive advantages, and other factors. 

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