Top 17 Investor Venture Capital Firms in Canada [2023]

The venture capital industry in Canada has been very active and growing for decades. There are many investors in Canada who finance start-ups, entrepreneurs and small businesses. These investors can be categorized into different types based on how they work. Some of the more common categories include: Angel Investors, Venture Capital Firms, Private Equity Funds, Venture Capital Firms (VCCs), and Business Development Companies (BDCs).

1. Solidarity fund

Solidarite-fonds de solidarite is a venture capital firm based in Montreal, Quebec. It was founded in 2000 by Michael Fay and a few other partners. It has raised over 0 million to date and focuses on early-stage companies with an average investment of -3 million per company.

Solidarite’s partners are Éric Gagné, Julie Croteau (former partner of BDC Venture Capital), Jean-François Marcoux (former partner of BDC Venture Capital), Michel Lanthier (former professor at Universiti Laval) and Bernard Poulin (chairman of the Réalisateurs de Outaouais Fair).

The company has made several investments in Canadian technology companies such as Yext Inc., D2L Corp., Vendasta Technologies Inc., Payfirma Corp., Algocian Inc., Move Inc., Shopify Inc.

2. Innovacorp

Innovacorp is a venture capital firm that invests in early-stage technology companies in Atlantic Canada. The firm was founded in 1995 by the Government of Nova Scotia and is headquartered in Halifax, Nova Scotia.

Innovacorp has invested over 0 million, primarily through its four funds: Innovacorp I, II, III and IV. Funded with million from the provincial government and a matching amount from private investors (including individuals and corporate partners), it has since raised an additional 0 million from new investors as well as continued support from its initial initials.

3. Relay

Relay Ventures is a venture capital firm that invests in early-stage enterprise software companies. Relay was founded by a group of businessmen and investors with extensive experience building enterprise software companies. They are looking for entrepreneurs who want to build world-class businesses.

Notable investments: Stitch Labs, SendGrid, HubSpot and other top brands

4. Garage Capital

Garage Capital is a venture capital firm that invests in early stage companies in the technology, life sciences and clean technology industries. The company was founded in 1999 by Mike Lazaridis and Doug Fregin, who remain its co-presidents today.

Garage Capital’s investment focus includes: Advanced Information Technologies; artificial intelligence (AI); quantum computing; cognitive computing; quantum physics; DNA Sequencing and Synthetic Biology; medical devices / prostheses / wearables / bionics; Robotics/automation for manufacturing or healthcare; Software for industrial use cases (e.g. IoT), consumer applications like Uber or Airbnb

The firm has invested over billion in more than 200 companies since its inception. Some of their notable investments include Bufferbox Inc., which was acquired by Google for million; Wealthsimple Financial Services Inc.; Vidyard Inc.; Thalmic Labs Ltd.; Zoom Video Communications Inc.; Bitaccess Technologies Ltd., among other companies that have successfully grown from Garage’s initial investments.

5. Northleaf Capital Partners

Northleaf Capital Partners is a venture capital firm focused on early-stage investments in Canada. The company has invested in over 100 Canadian companies, including Shopify and Shopify Plus, Wattpad and D2L.

Northleaf Capital Partners is a venture capital firm focused on early-stage investments in Canada. Over the past decade, they’ve made over 100 investments in Canadian companies — and those aren’t their only successes: they’ve also been involved in some of the biggest success stories we know today (like Shopify).

6. Espresso Capital

Espresso Capital is a private equity firm founded in 2001 by John Baker. The firm is based in Montreal, Quebec and has invested in over 100 companies in various industries including technology, healthcare and consumer services.

Since its founding, Espresso Capital has raised over billion in assets under management (AUM) for investors in Canada and around the world.

7. Rival Capital

Riv Capital is a leading cleantech venture capital fund, investing in a wide range of growth-oriented and emerging cleantech sectors. The RIV team is made up of experienced professionals who have been investing in the sector for over 15 years. RIV has invested in over 50 companies since its inception and continues to be active with new investments across North America and Europe as it seeks opportunities that will advance our mission to build a sustainable future through strategic innovation, science and policy.

RIV seeks investment opportunities at all stages: start-up, early growth, expansion and mid-level exit. We are particularly interested in companies that address the “triple bottom line” (people/planet/profit).

8.Fairfax Financial Holdings

Fairfax Financial Holdings Limited is a Canada-based holding company, which operates through its subsidiaries in the real estate insurance, reinsurance and investment management businesses. Fairfax Financial Holdings is headquartered in Toronto, Canada.

Fairfax Financial Holdings Limited began trading on the TSX (Toronto Stock Exchange) as FRF in 1980. It was set up to be an umbrella holding company for all of John C. Risley’s Canadian companies including: Fairfax Mining Company Ltd., Fidelity Trust Company of Canada Ltd., The Dominion Trading Corporation Ltd., Hanover Insurance Company Ltd., Royal Insurance Company Ltd., Guardian Trust Company Ltd., Security Pacific Holding Corp (later known as Security Pacific Corp.), and Security Investment Trust Co (later known as Fairmont Growth Fund).

9. BrightSpark Ventures

BrightSpark Ventures is a venture capital firm that invests in early-stage technology companies. They have invested in over 100 companies including Shopify, Wattpad, Lightspeed POS and Canadian Tire Digital.

In 2010, it was the first Canadian venture capital firm to invest exclusively in the digital space with a focus on mobile technologies. The company has offices in Montreal and Toronto where it invests across Canada.

10.Brandproject

BrandProject is a Toronto-based venture capital firm that invests in early-stage companies with a focus on technology and digital media. The company was founded in 2016 by Michael Serbinis, the founder of Kobo and other technology companies.

BrandProject focuses on investing primarily in Canadian companies, but also makes investments in US companies if they are relevant to their mandate or have good growth opportunities in Canada.

11. Residential Tricon

Tricon Residential is a private equity firm that invests in residential real estate. The company was founded in 2008 and is based in Toronto, Canada. Tricon Residential manages .5 billion in assets across its various funds.

Tricon Residential has made an investment in a new Canadian development called “The Well” at 50 Bloor Street West, which will feature five floors of retail and upper office space with two levels of underground parking. The project is being developed by Oxford Properties Group, which purchased it from Rogers Communications Inc.

12. Clearco

Clearco, a venture capital firm based in Montreal, Canada, invests in early-stage companies in the areas of artificial intelligence and information technology. The company was founded by Jean-François Fontaine and Nicolas Lavallée in 2016. Clearco has invested over million in more than 100 companies since its founding.

13. Inviated capital

Inovia Capital is a venture capital firm in Canada founded in 2000. The firm is a member of the National Angel Capital Organization (NACO) and the Canadian Venture Capital Association (CVCA).

Inovia Capital invests in pre-revenue companies with significant growth potential. The company also focuses on investing in industries like software, e-commerce and mobile technology.

14. Hardbacon

Hardbacon is a venture capital firm that invests in early-stage technology companies. Hardbacon focuses on companies that are building high-growth technology companies in the areas of artificial intelligence, machine learning, blockchain, and cybersecurity.

Hardbacon has invested in over 100 startups since 2014 and currently manages a 0 million portfolio. Since its inception, Hardbacon has had 36 exits, including companies like Keepsafe (acquired by Dropbox), TXVIA (acquired by Visa), PROWELL (acquired by ENOVA), Zinc Payments (acquired by Paycase Financial Corp.), Interactor Media Inc. , and more Recently, Nuco Inc., a company founded by R3 co-founder Todd McDonald.

15. Capital of Timia

Timia Capital is a venture capital fund based in Montreal, Canada. Timia Capital is an active investor in the Canadian technology sector. The company has invested in over 80 companies since its inception and has backed companies such as Shopify, Wattpad, and Vidyard to name a few.

Timia’s mission is to help entrepreneurs grow their businesses through strategic investment, mentorship and hands-on support from experienced entrepreneurs and operators who have “been there”.

16. Chrysalix Venture Capital

Chrysalix Venture Capital is a Montreal-based venture capital firm founded in 2011 by Peter Aceto and Mark Goldstein. He manages approximately billion in assets and has invested in over 150 companies worldwide. Chrysalix’s portfolio includes companies such as BuildDirect, Shopify, Wattpad, Snowflake Computing and VE Interactive Inc.

17. Export Development Canada

Export Development Canada (EDC) is a Crown Corporation that provides financing and insurance to Canadian exporters and foreign buyers of Canadian goods and services. EDC is Canada’s only federal export credit agency.

Today, EDC’s mission is to help Canadian businesses succeed in the global economy by helping them develop international business opportunities, expand trade with emerging markets and diversify their customer base by providing support finance to their international ambitions.

Conclusion

There’s a lot of money to be made in Canada, and there are lots of ways for you to do it. You can do it yourself with an idea or a start-up, or work with an established company that knows what it’s doing. Either way, if you have an idea that needs funding, these 17 VC businesses will help you start achieving your goals.