Best Venture Capital Firms in Canada

Canada Venture Capital Firms & Investors

From Toronto’s Bay Street-adjacent fintech corridors and Waterloo’s deep-tech engine to Vancouver’s sustainability and climate innovation scene, Montréal’s AI and creative technology hubs, and Calgary’s evolving energy transition ecosystem, venture capital in Canada plays a defining role in how companies are imagined, built, and scaled. Canada’s venture landscape is shaped as much by geography as it is by mindset—regionally grounded, globally aware, and increasingly values-driven.

What makes the Canadian venture ecosystem especially distinctive is how relationship-oriented and operationally involved it has become. Today’s leading Canadian venture capital firms are not passive capital allocators. They operate as outsourced, fractional, part-time, and virtual partners, supporting founders with talent strategy, governance, capital discipline, market expansion, and leadership development. In a country where founders often scale across borders early, trust and alignment matter as much as valuation.

At Digital Reference, we pay close attention to how capital shows up. We care about who leads the firm, how investors behave when companies hit pressure points, and how credibility is built over time. That’s why this list spotlights Canadian venture capital firms that align with our belief in radical authenticity, transparency, and accountability—values we help surface through modern tools like video resumes and verified professional reference collection.

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🍁 Our Methodology: How These Canadian Venture Capital Firms Were Selected

This is not a ranking, a directory, or a paid roundup. Every firm featured here was selected through extensive research, qualitative evaluation, and cross-referencing. We focused exclusively on venture capital firms actively operating in Canada, supporting founders through flexible engagement models—including outsourced, fractional, part-time, and virtual involvement.

Our evaluation criteria included:

🧠 Founder-, partner-, or managing partner–led engagement with portfolio companies
🔍 Clearly articulated investment theses backed by real portfolio outcomes
🗣️ Transparent communication styles and founder-aligned decision-making
🎯 Demonstrated ability to support companies beyond capital deployment
🤝 Alignment with Digital Reference values: trust, credibility, and accountability

Each firm below reflects a distinct approach to Canadian venture capital—shaped by region, sector focus, leadership style, and long-term conviction.

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🌟 Featured Canadian Venture Capital Firms & Their Leaders 🌟

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Active Impact Investments

What they do:
Active Impact Investments focuses on backing companies that sit at the intersection of profit and purpose, particularly in health, education, and climate. Their investment approach emphasizes measurable outcomes, disciplined governance, and scalable impact.

Who they work with:
Founders building mission-driven businesses that can deliver both financial performance and real-world change.

Operating model:
Canada-based, founder-led venture firm offering hands-on, high-conviction partnership throughout the growth journey.

💡 Why they stand out:
🌱 Deep commitment to measurable impact
📊 Strong governance and accountability frameworks
🤝 Founder-aligned, long-term mindset
🧭 Clear expectations and transparent engagement

Mike Winterfield — Founder & Managing Partner

Mike Winterfield brings a rare blend of private equity discipline, impact investing rigor, and operator empathy. Rather than treating impact as a branding exercise, Mike insists on accountability—helping founders quantify outcomes, build durable governance, and scale responsibly. His leadership style is calm, analytical, and deeply values-driven, making Active Impact a trusted partner for founders solving complex societal challenges.

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Mistral Venture Partners

What they do:
Mistral Venture Partners invests in early-stage technology companies with strong fundamentals and scalable business models.

Who they work with:
Founders building disciplined, technology-enabled businesses across sectors.

Operating model:
Partner-led venture firm with high-touch strategic involvement and long-term conviction.

💡 Why they stand out:
🧠 Strong analytical rigor
📈 Focus on sustainable growth over hype
🤝 Collaborative founder relationships
🔍 Clear, disciplined investment strategy

Code Cubitt and Bernie Zeisig — Managing Partners

Code Cubitt and Bernie Zeisig bring complementary strengths—investment discipline paired with operational insight. Their leadership emphasizes clarity, realism, and founder trust. Mistral is known for being steady through volatility, offering founders thoughtful guidance rather than reactive pressure.

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Vada Capital

What they do:
Vada Capital supports growth-stage Canadian companies through structured capital and strategic oversight.

Who they work with:
Founders navigating scale, governance, and organizational maturity.

Operating model:
CEO-led investment firm with strong board-level involvement.

💡 Why they stand out:
🏗️ Governance-focused scaling support
📊 Operational discipline
🧩 Alignment between capital and leadership

Jeff Robson — President & CEO

Jeff Robson is known for helping founders professionalize without losing entrepreneurial momentum. His leadership style is direct, structured, and people-centric, making Vada a stabilizing partner during growth inflection points.

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Conexus Venture Capital

What they do:
Conexus Venture Capital invests in early-stage companies, particularly across Canada’s Prairie provinces.

Who they work with:
Founders building regionally grounded businesses with national potential.

Operating model:
Regionally focused venture firm with patient, ecosystem-driven capital.

💡 Why they stand out:
🌾 Regional ecosystem commitment
🤝 Founder education and mentorship
🧭 Long-term community impact

Jordan McFarlen — Managing Director

Jordan McFarlen brings a community-first mindset to venture investing. His leadership emphasizes sustainability, resilience, and founder development—ensuring companies grow with strong local roots and national ambition.

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Relay Ventures

What they do:
Relay Ventures invests in early-stage mobile, fintech, and digital platform companies.

Who they work with:
Founders building technology products with global reach.

Operating model:
Co-founder-led venture firm with deep operational engagement.

💡 Why they stand out:
📱 Sector specialization
🧑‍💼 Strong governance support
🌍 Global perspective

John Albright and Kevin Talbot, ICD.D — Co-Founders & Managing Partners

John Albright’s founder empathy pairs with Kevin Talbot’s governance expertise to create a balanced leadership approach. Relay is known for consistency, integrity, and long-term founder relationships.

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District Ventures Capital

What they do:
District Ventures Capital invests in consumer brands across food, beverage, wellness, and CPG.

Who they work with:
Founders building consumer businesses with real traction and purpose.

Operating model:
Founder-led firm combining capital, mentorship, and brand strategy.

💡 Why they stand out:
🛍️ Deep consumer insight
🌍 Sustainability focus
🧠 Hands-on leadership

Arlene Dickinson — Founder & General Partner

Arlene Dickinson’s leadership is shaped by decades of entrepreneurship and investment experience. She brings credibility, candor, and operational insight—helping founders scale brands with integrity and resilience.

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Information Venture Partners

What they do:
Information Venture Partners focuses on fintech and financial services innovation.

Who they work with:
Founders building technology in regulated, institution-heavy environments.

Operating model:
Co-founder-led venture firm with deep industry connectivity.

💡 Why they stand out:
🏦 Institutional access
🔐 Regulatory fluency
📡 Fintech thought leadership

Robert Antoniades & David Unsworth — Co-Founders & General Partners

As Co-Founders and General Partners of Information Venture Partners, Robert Antoniades and David Unsworth are known for backing fintech companies that sit at the intersection of innovation and institutional relevance. They work closely with founders to refine strategy, navigate regulation, and build credibility with banks and financial services partners. Their approach emphasizes disciplined execution, transparent decision-making, and long-term alignment.

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MAVAN Capital Partners

What they do:
MAVAN Capital Partners supports growth equity and buyout opportunities.

Who they work with:
Leadership teams navigating scale and capital transitions.

Operating model:
CEO-led firm with strong operational oversight.

💡 Why they stand out:
📊 Execution discipline
🧩 Talent and leadership alignment
📈 Long-term value focus

Laine Nevison — CEO

Laine Nevison leads with transparency and execution rigor, ensuring alignment between capital, leadership, and long-term value creation. She is especially respected for building strong management teams and operational foundations.

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Ripple Ventures

What they do:
Ripple Ventures specializes in early-stage B2B SaaS investing.

Who they work with:
Technical and product-led founders.

Operating model:
Founder-led, hands-on venture firm.

💡 Why they stand out:
💻 SaaS specialization
🗣️ Direct founder feedback
🧠 Strong operator network

Matt Cohen — Founder & Managing Partner

Matt Cohen is known for his founder-first mentality and direct, honest communication style. He works closely with early-stage B2B SaaS teams, offering practical guidance rooted in operator experience.

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Graphite Ventures Inc.

What they do:
Graphite Ventures invests in technology-driven companies across North America.

Who they work with:
Founders building scalable, cross-border businesses.

Operating model:
Multi-partner leadership with deep operational insight.

💡 Why they stand out:
🌎 Cross-border expertise
🧠 Experienced leadership team
🛠️ Practical execution support

Aaron Bast, Lance Laking & Craig Leonard — Managing Directors & General Partners

As Managing Directors and General Partners at Graphite Ventures, Aaron Bast, Lance Laking, and Craig Leonard work closely with founders navigating growth, cross-border expansion, and organizational maturity. Their leadership blends deep venture experience with hands-on operational guidance. This balanced approach helps companies scale with confidence and resilience.

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Final Thoughts - Finding the Right Canadian VC For Your Venture

The best venture capital firms in Canada don’t just fund companies—they shape leadership behavior, influence ecosystem norms, and define how trust is built between founders and investors. The firms featured here demonstrate that transparency, authenticity, and founder-aligned capital are not soft values—they’re strategic advantages.

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At Digital Reference, we’re building infrastructure that makes professional credibility visible. Through video resumes and verified professional reference collection, we help founders, investors, and operators choose partners with confidence—grounded in real experience, real outcomes, and real accountability.