Top 57 VC Funds and Angel Investors in Canada
Ranking 4th in the Global Startup Index, Canada is one of North America's most prominent innovation centers. Canada is a place where brilliant minds and bold ideas come together with an unrivaled spirit to address the world's most pressing issues. With its market-oriented economic structure, high standards of living, proximity to the US, native English language, and genuine desire to expedite the development of local startups; Canada's image as a progressive nation provides a rock-solid platform for founders to grow their enterprises in the country. With yet another great year, Canada has established a significant lead over those ecosystems rated below it; attracting numerous investors into its market. In this article, we have compiled a comprehensive list of the top VC funds and angel investors in Canada that may be the right funding partner for you.
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Topics Covered:
Venture Capitalist Funds in Canada
Angel Investors in Canada
Why Should You Raise Funds in Canada?
Here are some reasons why startups should consider raising funds in Canada:
Access to Capital and Financial Support: According to KPMG Private Enterprise's Venture Pulse report, Canada's venture capital sector concluded 2022 on a high note, with over USD 10 billion invested in Canadian firms in over 1080 transactions, the second largest year on record. Aside from the strong VC market, another powerful motivator is financial support from the Canadian government in the form of tax benefits, credits, and refunds to promote startup initiatives. There are also numerous government financing programs and public grants accessible for business ventures.
Access to Skilled Talent: Canada is home to some of the world's best educational institutions, with tens of thousands of world-class graduates being generated and going on to work for high-growth Canadian startups. Canada is also appealing to international students as the region is a welcoming place where newcomers may meet individuals from their own community as well as join hundreds of others. Canada's immigration schemes also attract top-tier employees from overseas, such as Startup Visa that allows entrepreneurs to immigrate to the nation and create their own businesses
Governmental and Educational Support System: Canada's higher education institutions not only offer a consistent flow of educated talents but also promote a collaborative and inclusive environment. Numerous programs have been developed by top institutions to encourage the transfer of academic prowess to businesses; oftentimes with incubators built into their systems. The government also supports these incubators by providing funding and subsidies, as well as supporting policies such as the Scientific Research and Experimental Development Tax Credit that provides returns of up to 65 percent for R&D expenses. Consortiums comprised of academics, industry, government, investors, regional hubs, and both early-stage and established firms have been built and are working synchronously to commercialize their solutions.
Venture Capitalist Funds in Canada
The venture capitalist funds below are actively looking for investments in promising companies throughout various stages and sectors. The stages stated do not limit the possibility of getting funding if your company is at any stage other than what is listed.
First Fund
Year of Inception: 2020
Stage: Pre Seed
Focus: Technology
Notable Portfolio: Omnicart, Vetsie, Startup Arena, Hubly
Panache Ventures
Year of Inception: 2018
Stage: Pre Seed, Seed
Focus: Technology
Notable Portfolio: Nolk, Lancey, PurposeMed, Audette, OSOM
Red Leaf Capital
Year of Inception: 2009
Stage: Pre Seed, Seed
Focus: Technology
Notable Portfolio: Invenia, Longbida, Exigence, PriceRazzi
7 Gate Ventures
Year of Inception: 2015
Stage: Pre Seed, Seed, Series A
Focus: Technology, Enterprise Software, Marketplaces, HealthTech, Medical Devices
Notable Portfolio: Spocket, MetaOptima, Stay22, Trayt, OptiSense
Extreme Venture Partners
Year of Inception: 2007
Stage: Seed
Focus: Technology
Notable Portfolio: Blanc Labs, Dot Health, Foxquilt, Pitstop, Acto
Golden Ventures
Year of Inception: 2011
Stage: Seed
Focus: Sector Agnostic
Notable Portfolio: Wattpad, Avidbots, Xanadu, Brightwheel, ResQ
Brightspark Ventures
Year of Inception: 1999
Stage: Seed, Series A
Focus: Technology
Notable Portfolio: Hopper, Elevate, Potloc, Nudge, Valence, Classcraft
iGan Partners
Year of Inception: 1999
Stage: Seed, Series A
Focus: Healthcare Technology, Medical Devices, Digital Health
Notable Portfolio: Exact Imaging, Marble, Flosonics Medical, MolecuLight
Lumira Ventures
Year of Inception: 1989
Stage: Seed, Series A
Focus: Biotechnology, Medical Technologies, Digital Health, Consumer, Healthcare Solutions
Notable Portfolio: Cyrano Therapeutics, Cardiac Dimensions, Antiva Biosciences, Exact Imaging, Endotronix
Real Ventures
Year of Inception: 2007
Stage: Seed, Series A
Focus: Technology
Notable Portfolio: Renorun, Sonder, Mejuri, TensTorrent
Relay Ventures
Year of Inception: 2008
Stage: Seed, Series A
Focus: Urbantech, Proptech, Fintech, Sportstech
Notable Portfolio: Ecobee, Greenlight, theScore, Bird, TouchBistro
Scale UP Ventures
Year of Inception: 2016
Stage: Seed, Series A
Focus: B2B
Notable Portfolio: Dooly, Wydsom AI, Sonder, Medstack, Autograph
Vanedge Capital
Year of Inception: 2010
Stage: Seed, Series A
Focus: Hard Tech, Analytics, Computational Biology
Notable Portfolio: Bitfusion, SpaceX, Metafor, Ava, Plotly
AmorChem
Year of Inception: 2011
Stage: Seed, Series A
Focus: Biotechnology
Notable Portfolio: Inversago Pharma, Neurasic Therapeutics, Liminal BioSciences
Version One Ventures
Year of Inception: 2012
Stage: Seed, Series A
Focus: Technology
Notable Portfolio: Ada, Coinbase, Shippo, Qvin, AngelList
BoxOne Ventures
Year of Inception: 2018
Stage: Seed, Series A
Focus: Biotechnology, Future of Food
Notable Portfolio: FabricNano, DrugBank, Seqera Labs, Ochrebio
Luge Capital
Year of Inception: 2018
Stage: Seed, Series A
Focus: FinTech
Notable Portfolio: Owl.co, Flinks, ProNavigator, Pillar, Senso
BCF Ventures
Year of Inception: 2018
Stage: Seed, Series A
Focus: Technology
Notable Portfolio: FightCamp, Bridgr, Alpin, MedStack, Athennian
GreenSky Ventures
Year of Inception: 2008
Stage: Seed, Series A
Focus: B2B Technology, IT, CleanTech, SaaS, MedTech
Notable Portfolio: Pyrowave, Trolley, Anessa, WiseDocs, Cyclica
Chrysalix Venture Capital
Year of Inception: 2001
Stage: Seed, Series A, Series B, Series C
Focus: Resource Intensive Industries, Intelligent Systems, Step Change Solutions
Notable Portfolio: Sorterra Alloys, Luffy AI, MineHub, Novamera, DTE
Cycle Capital
Year of Inception: 2009
Stage: Seed, Series A, Series B, Series C
Focus: ClearnTech
Notable Portfolio: MineSense, Spark Microsystems, Agrisoma, Mysa, Encycle
Yaletown Partners
Year of Inception: 2002
Stage: Seed, Series A, Series B, Series C
Focus: Software, Data, Device Technologies
Notable Portfolio: ThoughtWire, GoBolt, Bit Stew Systems, Group14 Technologies
OMERS Ventures
Year of Inception: 2011
Stage: Seed, Series A, Series B, Series C
Focus: Technology
Notable Portfolio: Waabi, Foresight Group, Xanadu, Klue, Clarisights
Inovia Capital
Year of Inception: 2007
Stage: Seed, Series A, Series B, Series C
Focus: B2B and B2C SaaS
Notable Portfolio: AppDirect, ClearPath, Hopper, Forward, Spatial
Diagram Ventures
Year of Inception: 2016
Stage: Seed, Series A, Series B, Series C
Focus: Fintech, Web3.0, ClimateTech, Insurance, Health
Notable Portfolio: BaseLane, Nesto, Novisto, Clear Estate, Conduit
Top Renergy
Year of Inception: 2010
Stage: Seed, Series A, Series B, Series C
Focus: Renewable Energy, Manufacturing, Information Technology, Wholesale and Retail, Education, Innovative Technologies
Notable Portfolio: Hausway, VersionPay, Eco Digitec, XParcels
Renewal Funds
Year of Inception: 1994
Stage: Series A
Focus: Environmental Technology, Sustainable Consumer Goods
Notable Portfolio: Electrum, Lacuna, Olea, Station A, Swiftly
ArcTern Ventures
Year of Inception: 2012
Stage: Series A
Focus: Clean Energy, Energy Efficiency and Storage, Circular Economy, Advanced Manufacturing and Materials, Mobility Food Systems
Notable Portfolio: Palmetto, Mosa Meat, Liminal, Xeal, Flashfood
Azure Capital Partners
Year of Inception: 2000
Stage: Series A, Series B
Focus: Technology
Notable Portfolio: Clutch, PurposeMed, Convercent, Native, Calix
Emerald Technology Ventures
Year of Inception: 2000
Stage: Series A, Series B, Series C
Focus: Technology, Advanced Materials, Agriculture, Energy, Industrial IT, Water
Notable Portfolio: CellexPower, Evergreen Solar, Nanograf, SewerAI, Sofi Filtration
Pangaea Ventures
Year of Inception: 2000
Stage: Series A, Series B, Series C
Focus: Hard Tech
Notable Portfolio: Doosan, Ingevity, Umicore, Solvay, Henkel
Versant Ventures
Year of Inception: 1999
Stage: Series A, Series B, Series C
Focus: Health Care, Biotechnology, Medical, Medical Device, Therapeutics
Notable Portfolio: Clovis Oncology, Forsight Vision, Novira Therapeutics, VectivBio
CTI Life Sciences Fund
Year of Inception: 2006
Stage: Series A, Series B, Series C
Focus: Life Sciences
Notable Portfolio: VectivBio, Profound, DalCor, Domain Therapeutics, Epitopea
Celtic House Venture Partners
Year of Inception: 1994
Stage: Series A, Series B, Series C
Focus: Technology, SMB SaaS
Notable Portfolio: Auvik, Raven, Doorr, Snappy, Remx
Intrinsic Venture Capital
Year of Inception: 2018
Stage: Series A, Series B, Series C
Focus: Secto Agnostic
Notable Portfolio: PureLife Carbon, HTech, ZayZoon, ClickDishes
Georgian Partners
Year of Inception: 2008
Stage: Series B, Series C
Focus: B2B SaaS
Notable Portfolio: Shopify, Signpost, TurnItin, WorkFusion, Beam
BDC Capital
Year of Inception: 2006
Stage: Seed, Series A, Series B, Series C
Focus: Sector Agnostic
Notable Portfolio: AdStash, Acerta, Beanworks, Chrysalix, Unsplash
Angel Investors in Canada
The Angel investors listed below are part of an Angel community located throughout Canada. They may act as an individual or as a syndicate to fund projects of their preference, so these networks are the best opportunity for you to find a potential Angel with an aligned vision and interests.
Canada Investment Network
Stage: Seed
Focus: Sector Agnostic
Notable Portfolio: -
Anges Québec
Stage: Pre Seed, Seed
Focus: ICT B2B, ICT B2C, DeepTech, CleanTech, Medical Devices, Biotechnology
Notable Portfolio: 4C Medical, Classcraft, Ecotierra, Flexpay, MedHelper
Golden Triangle Angel Network
Stage: Seed
Focus: Sector Agnostic
Notable Portfolio: Andela, Aterlo Networks, Chalk, ExpertFile, SeamlessMD
E-Fund
Stage: Seed
Focus: Technology, Life Sciences, Cleantech, Information and Communications Technology
Notable Portfolio: Optigo Networks, Mazza Innovation, Wearable Therapeutics
Angel Investors Ontario
Stage: Seed, Series A
Focus: Sector Agnostic
Notable Portfolio: -
Spark Angel Investment Group
Stage: Seed, Series A
Focus: Information Communication Technology, Life Sciences, Clean Technologies, Services
Notable Portfolio: -
Canadian International Angel Investors
Stage: Seed, Series A
Focus: Sector Agnostic
Notable Portfolio: Medusa Medical Technologies, Phase Remediation, SolutionInc
Keiretsu Forum Canada
Stage: Seed, Series A
Focus: Sector Agnostic
Notable Portfolio: -
VANTEC Angel Network
Stage: Seed, Series A
Focus: Technology
Notable Portfolio: -
York Angel Investors
Stage: Seed, Series A
Focus: Technology
Notable Portfolio: Neurovine, Grobo, TritonWear, Parlay, Hockeystick
Maple Leaf Angels
Stage: Seed, Series A
Focus: Technology
Notable Portfolio: Ubisoft, Wisely, Waverly, Expert File, AlayaCare
GreenSky President’s Club
Stage: Seed, Series A
Focus: Technology, CleanTech, MedTech
Notable Portfolio: Limelight, Pyrowave, Anessa, Arctic Wolf, Wisedocs
Capital Angel Network
Stage: Seed, Series A
Focus: Green Technology, B2B/Enterprise SaaS, Deep Tech, Artificial Intelligence, Cybersecurity, Health & Medical Technology, Agriculture Technology
Notable Portfolio: Edgewater, Rewind, Plum, Hoppier, Mydoma Studio, Growcer
Angel One Network Inc
Stage: Seed, Series A
Focus: Technology, Sector Agnostic
Notable Portfolio: Funding Innovation, Surfeasy, Vana Workforce, #PAID, Miovision
Southwestern Ontario Angel Group
Stage: Seed, Series A
Focus: Sector Agnostic
Notable Portfolio: -
Southeastern Ontario Angel Network
Stage: Seed, Series A
Focus: Sector Agnostic
Notable Portfolio: Spectra Plasmonics, Bounce, ABCann, Wave Boating
Northern Ontario Angels
Stage: Seed, Series A
Focus: Sector Agnostic
Notable Portfolio: -
National Angel Capital Organization Canada
Stage: Seed, Series A
Focus: Sector Agnostic
Notable Portfolio: -
Georgian Angel Network
Stage: Seed, Series A
Focus: Light/Advanced Manufacturing, Sustainable Development Technologies, Medical Technologies, Products and Services, Information and Communication Technologies
Notable Portfolio: Chickapea, Weever, RNA Diagnostics, Edgehog, Neurovine
Closing Thoughts on VCs and Angel Investors in Canada
Today, Canada is regarded as one of the best places in the world to start a business. This is mostly owing to the country's welcoming attitude toward entrepreneurs and numerous startup initiatives. With significant venture capital investments, incentives such as Startup Visa and tax advantages, as well as committed and close-knit ecosystem partners, Canada's entrepreneurial ecosystem appears to be more promising than ever. Canada's proactive dedication to developing startup ecosystems and wealth of resources are playing a major role in driving the local startups' growth and success.
In case you're also keen on joining startup programs to better your chance of securing venture capital funding, you may want to check out our article on the Top 64 Startup Accelerators & Incubators in Canada!