Top 17 Toronto Venture Capital Firms for Tech Startups [2024]
Are you seeking venture capital in Toronto for your early-stage tech venture? Take a look at these 17 promising options we’ve created.
Ready to start your tech business in Toronto but need some cash? Toronto is a hotspot for new companies, kind of like a mini Silicon Valley. Big names like Shopify and Slack got their start here.
But it’s not just about big names – there’s a whole community of small companies helping each other out.
Getting money for your business in Toronto is easier than you might think. In 2023 alone, over $1.4 billion was given to new companies. And a good chunk of that went to tech startups.
So, if you’ve got a great idea, Toronto is the place to be. Check out these 17 companies ready to help your early-stage tech startup take off.
17 Early-Stage Venture Capital Firms in Toronto, Canada
1. Extreme Venture Partners
Extreme Venture Partners (EVP) has been one of Canada’s most successful venture capital funds over the past decade. They are putting a substantial amount of money into developing its internal opportunities by investing in Extreme Innovations. As a technology accelerator, they team up with skilled entrepreneurs and tech experts to build companies. Also, they test business models first before bringing in more partners.
Details of Extreme Venture Partners
Foundation Year: 2007
Countries of Operation:
- Canada
Number of Investments: 93
Lead Investments: 24
Number of Exits: 50
Focus of Extreme Venture Partners
Stage
- Crowdfunding
- Early Stage Startup
- Seed
Industries
- B2B
- Commercial services
- Big data
- Mobile
- Internet
Investment size
Minimum check size: $250,000
Maximum check size: $1,000,000
Notable Investments
1. wagepoint
URL: wagepoint.com
Funding Rounds: 4
Total Funding: $14.8M
2. Foxquilt
URL: www.foxquilt.com
Funding Rounds: 4
Total Funding: $23.5M
3. FIxel Photos
URL: www.flixel.com
Funding Rounds: 5
Total Funding: $3.7M
Contact
Website: https://www.evp.vc/
Email: submit@extremevp.com
Phone: +1 416 907 9470
2. Antler
Antler is the investor who backs ambitious founders from day one to glory. It was established on the principle that human innovation is essential to constructing a better future. Since 2018, they have proudly invested in 600 + companies. They are ready to collaborate with people worldwide to develop and scale up their businesses
Details of Antler
Foundation Year: 2018
Countries of Operation
- Canada
- Australia
- India
- Indonesia
- Japan
- Korea
- Malaysia
- Singapore
- Vietnam
- Denmark
- Finland
- France
- Germany
- Iberia
- Netherlands
- Norway
- Sweden
- UK
- Brazil
- US
- Kenya
- Middle East
Number of Investments: 1240
Lead investments: 637
Number of Exits: 106
Funds raised: $82.2M
Focus of Antler
Stage
- Early Stage
- Seed
Industries
- AI & ML
- Consumer
- Crypto & Blockchain
- Cybersecurity
- E-Commerce
- Fintech
- SaaS
- Gaming
- Proptech
- Real Estate
- Internet & Mobile
- Food & Beverage
- Supply Chai & Logistics
- Healthcare
- Media
Notable Investments
- Treyd
URL: www.treyd.io
Funding Rounds: 2
Total Funding: $25M
2. Volopay
URL: www.volopay.com
Funding Rounds: 5
Total Funding: $31.2M
3. Airalo
URL: https://www.airalo.com/
Funding Rounds: 5
Total Funding: $67.3M
Contact
Website: https://www.antler.co/
Email:hello@antler.co
3. Inovia Capital
Inovia Capital is a renowned venture capital firm that collaborates with entrepreneurs to build long-lasting and meaningful enterprises. They are always ready to support founders like you with capital, mentorship, and insights throughout the journey. Most importantly, they are not about providing capital to companies; they are about creating economic, intellectual, and financial wealth. Also, they strongly support their ecosystem and communities at every step
Details of Inovia Capital
Foundation Year: 2007
Countries of Operation:
- Canada
- United States
- United Kingdom
Number of Investments: 352
Lead Investment: 105
Number of Exits: 107
Funds raised: $2.2B
Focus of Inovia Capital
Stage
- Early Stage Startup
- Late Stage Startup
Industries
- Internet & Mobile
- SaaS
- Robotics
- Crypto & Blockchain
- Cybersecurity
- Healthcare
Notable Investments
- Clearco
URL: clear.co
Funding Rounds: 8
Total Funding: $858.6M
2. Lakera AI
URL: lakera.ai
Rounds: 1
Total Funding: $10M
3. Bench
URL: www.bench.co
Rounds: 9
Total Funding: $115M
Contact:
Website: https://www.inovia.vc/
Email: info@inovia.vc
Phone: +1 514-982-2251
4. Georgian
Georgian is a renowned fintech company that invests in high-growth technology companies. Its platform is designed to accelerate and identify the best growth-stage software companies. Their purpose is to maximize participation in the digital economy.
They build software to help their companies to scale faster. Also, they are building a platform to provide a better growth capital experience to software company CEOs and their teams. At Georgian, they have constantly innovated to add more value to other companies.
Details of Georgian
Foundation Year: 2008
Countries of Operation:
- Canada
Number of Investments: 126
Lead Investments: 79
Number of Exits: 26
Funds raised: $2.5B
Focus of Georgian
Stage
- Late Stage Startup
Industries
- Fintech
- AI & ML
- Artificial intelligence
- Information technology sectors
Notable Investments
1. Shopify
URL: georgian.io
Funding Rounds: 4
Total Funding: $122.3M
2. Armis Security
URL: www.armis.com
Funding Rounds: 6
Total Funding: $537M
3. Aera Technology
URL: www.aeratechnology.com
Funding Rounds: 9
Total Funding: $173.7M
Contact
Website: https://georgian.io/
Email: info@georgian.io
Phone: 416-868-1514
5. Yaletown Partners
Yaletown Partners is a leading Canadian IoT and Cleantech investor. They focus on Intelligent Industry companies. They are interested in investing in tech companies that make industries and businesses more efficient. As a strategic partner, they back the company’s vision to help build an enduring business. If you once connected with Yaletown Partners, they link your business with an extensive network of successful CEOs, industry leaders, and entrepreneurs from around the world
Details of Yaletown Partners
Foundation Year: 2001
Countries of Operation:
- Canada
Number of Investments: 173
Lead Investments: 32
Number of Exits: 42
Funds raised: $310M
Focus of Yaletown Partner
Stage
- Early Stage Startup
- Late Stage Startup
- Private Equity
- Seed
Industries
- AI & ML
- IoT
- SaaS
Investment size
Minimum check size: $2,000,000
Maximum check size: $5,000,000
Notable Investments
1. Glia
URL: www.glia.com
Funding Rounds: 6
Total Funding: $152M
2. Foodee
URL: www.food.ee
Funding Rounds: 7
Total Funding: $25.5M
3. Innerspace
URL: www.innerspace.io
Funding Rounds: 6
Total Funding: $11.3M
Contact
Website: https://yaletown.com/
Email: info@yaletown.com
Phone: 604.688.7807
6. Golden Ventures
Golden Ventures is a venture capital fund based in Toronto, with investments spanning across North America. They are one of the top Toronto venture capitals. Their primary mission is to support visionary founders who are shaping the future through innovation. They believe that technology is not confined to a specific industry but in all aspects of life.
Details of Global Founders Capital
Foundation Year: 2011
Countries of Operation:
- Canada
Number of Investments: 184
Lead Investments: 27
Number of Exits: 35
Funds raised: $350.1M
Focus of Golden Ventures
Stage
- Early Stage Startup
- Seed
- Venture
Industries
- Manufacturing
- Business services
- Consumer products & services
- Education
- Energy
- Esports & gaming
- Fintech
- Food
- Logistics
- Media
- E-commerce
Notable Investments
1. Applyboard
URL: www.applyboard.com
Funding Rounds: 10
Total Funding: $491.2M
2. Arteria AI
URL: www.arteria.ai
Funding Rounds: 3
Total Funding: $40.9M
3. Avidbots
URL: avidbots.com
Funding Rounds: 10
Total Funding: $106.5M
Contact:
Website: https://www.golden.ventures/
Email: info@golden.ventures
7. Emerald Technology Ventures
Emerald is one of the first venture capital companies to focus on sustainable industrial innovation. They have over 50 large corporations as investors and partners in open innovation. They’ve been at the forefront of sustainability for many years, from intelligent water efficiency to intelligent packaging to high-tech improvements in transportation and industry. They are dedicated to tackling big challenges in climate change and sustainability.
If you connect with Emerald Technology Venture, they will link businesses with top opportunities to drive the necessary changes for a more sustainable world
Details of Emerald Technology Ventures
Foundation Year: 2000
Countries of Operation:
- Canada
- Switzerland
- Singapore
Number of Investments: 126
Lead Investments: 29
Number of Exits: 55
Funds raised: $340.7M
Focus of Emerald Technology Ventures
Stage
- Early Stage Venture
- Late Stage Venture
Industries
- Energy
- Water & Wastewater
- Food
- Agriculture
- Mobility & Urbanization
- Materials & Packaging
- Industrial IT
Investment size
Minimum check size: $10,000,000
Maximum check size: $20,000,000
Notable Investments
1. Spear Power Systems
URL:
www.spearpowersystems.com
Funding Rounds: 1
Total Funding: $14.6M
2. Powerhouse Dynamics
URL: powerhousedynamics.com
Funding Rounds: 15
Total Funding: $24.1M
3. Fido Tech
URL: fido.tech
Funding Rounds: 3
Total Funding:$9.5M
Contact
Website: https://emerald.vc/
Email: info@emerald-ventures.com
Phone Number: +41 44 269 61 00
8. BrightSpark Ventures
Brightspark is an experienced venture capital firm that backs outstanding early-stage Canadian tech companies. They have been fuelling Canadian tech success stories since the beginning of the internet. Also, they have a fully automated tech platform that they built in-house. Besides that, Brightspark Financial is the Exempt Market Dealer that provides entrusted investors access to VC investments
Details of BrightSpark Ventures
Foundation Year: 1999
Countries of Operation:
- Canada
Number of Investments: 77
Lead Investments: 23
Number of Exits: 30
Funds raised: $56M
Focus of BrightSpark Ventures
Stage
- Early Stage Startup
- Late Stage Startup
- Seed
Industries
- Internet & Mobile
- Consumer
- Hardware
- SaaS
Investment size
Minimum check size: $500,000
Maximum check size: $1,500,000
Notable Investments:
1. POTLOC
URL: potloc.com
Rounds: 5
Total Funding: CA$58.4M
2. Hopper
URL: www.hopper.com
Rounds: 12
Total Funding: $729.7M
3. Classcraft
URL: www.classcraft.com
Rounds: 4
Total Funding: $15.4M
Contact
Website: https://brightspark.com/en
Email: dealflow@brightspark.com
Phone: 416-488-1999
9. Vanedge Capital
Vanedge Capital is an early-stage venture capital firm based in Vancouver and Silicon Valley. So far, they have developed a reliable investment method ensuring top-notch returns for their investors. As operators, they have built and led world-class companies. And as investors, they utilize their skills and network to assist great entrepreneurs in expanding their businesses. Besides that, their strong team’s deep technology background helps them to find diamonds in the rough and identify technology trends early.
Details of Vanedge Capital
Foundation Year: 2010
Countries of Operation:
- USA
- Canada
Number of Investments: 72
Lead Investments: 30
Number of Exits: 26
Funds raised: CA $297.1M
Focus of Google Venture
Stage
- Early Stage Startup
- Late Stage Startup
- Seed
Industries
- Cloud Computing
- Cloud Infrastructure
- Cyber Security
- Digital Media
- Geospatial
- Internet of things
- Marketing Automation
- Saas
Investment size
Minimum check size: $2,000,000
Maximum check size: $5,000,000
Notable Investments
1. Ploty
URL: plotly.com
Rounds: 7
Total Funding: $18.4M
2. Cogniac
URL: www.cogniac.ai
Rounds: 6
Total Funding: $40.1M
3. HEAVY.AI
URL: www.heavy.ai
Rounds: 5
Total Funding: $92.1M
Contact
Website: https://www.vanedgecapital.com/
Email: info@vanedgecapital.com
Phone: +1 604 569 3813
10. ScaleUp
ScaleUP Ventures is Canada’s early-stage venture fund designed to assist the nation’s most promising startups. It’s one of the capital firms that support creative entrepreneurs with more than just capital. Their goal is to create case studies to help great Canadian tech companies go big worldwide. They spend time with entrepreneurs and living with their technology to see things from a user’s perspective. They also spend their time and expertise to help their investors get into the market sooner and scale up faster
Details of ScaleUp
Foundation Year: 2016
Countries of Operation:
- Canada
Number of Investments: 63
Lead Investments: 11
Number of Exits: 11
Funds raised: $100M
Focus of ScaleUp
Stage
- Early Stage Startup
- Seed
Industries
- Fintech
- Enterprise
- SaaS
- Creator Economy
Investment size
Minimum check size: $2,000,000
Maximum check size: $10,000,000
Notable Investments
1. Sonder
URL: www.sonder.com
Rounds: 11
Total Funding: $839.6M
2. Mojix
URL: www.mojix.com
Rounds: 8
Total Funding: $95.5
3. Splash
URL: splashthat.com
Rounds: 7
Total Funding: $39.5M
Contact
Website: https://suv.vc/
Email: christian@suv.vc.
11. Fastbreak Ventures
Fastbreak Ventures is a venture capital firm based in Toronto, Canada. They focused on the key areas in the early growth stages that have proven successful across their portfolio. They use their experience, connections, and customer relationships to speed the growth of their portfolio companies. Also, they work closely with founders to build the team, boost technology, and increase traction
Details of Fastbreak Ventures
Foundation Year: 2013
Countries of Operation:
- Canada
Number of Investments: 43
Number of Exits: 12
Funds raised: $6,000,000
Focus of Fastbreak Ventures
Stage
- Pre-Seed Startup
- Seed Startup
Industries
- FinTech
- PropTech
- Digital Health
Notable Investments
1. Flybits
URL: flybits.com
Funding Rounds: 4
Total Funding: $44.1M
2. Sensibill
URL: getsensibill.com
Rounds: 6
Total Funding: $57.4M
3. Flyshot
URL: www.flyshot.io
Rounds: 3
Total Funding: $1.2M
Contact
Website: https://www.fastbreak.co/
Email: info@fastbreak.co
12. iGan Partners
iGan Partners is one of the largest venture capital firms investing in Canada. They are a dedicated team of entrepreneurs, operators, company builders, and investors. They bring unique expertise and domain-specific knowledge to their investment.
Also, they provide capital and expertise to help scale leading healthcare innovations globally. Besides that, they tend to invest in dynamic management teams, empowering them to build impactful businesses. They build a strong support system with capital, talent, and management experience to help startups to the next level.
Details of iGan Partners
Foundation Year: 2011
Countries of Operation:
- Canada
Number of Investments: 49
Lead Investments: 15
Number of Exits: 8
Funds raised: $350M
Focus of iGan Partners
Stage
- Early Stage Startup
- Seed
Industries
- Healthcare
- AI & M
Investment size
Minimum check size: $1,000,000
Maximum check size: $5,000,000
Notable Investments
1. Segmed
URL: www.segmed.ai
Funding Rounds: 5
Total Funding: $10M
2. Curv Health
URL: www.curvhealth.com
Funding Rounds: 4
Total Funding: $5.2M
3. MolecuLight
URL: www.moleculight.com
Funding Rounds: 6
Total Funding: $29.2M
Contact
Website: https://iganpartners.com/
Email:info@iganpartners.com
13. Leaders Fund
Leaders Fund invests in fast-growing software companies and is led by tenacious entrepreneurs. They are a team of operators that have founded, grown, and exited multiple technology businesses. They are focused on compounding value, not pushing entrepreneurs towards a binary outcome.
Also, they target three new investments each year, ensuring close collaboration with each portfolio company. Their flexible fund structure enables creative partnerships with other investors while ensuring deep alignment with their portfolio companies.
Details of Leaders Fund
Foundation Year: 2016
Countries of Operation:
- Canada
Number of Investments: 41
Lead investments: 9
Number of Exits: 8
Funds raised: $100M
Focus of Leaders Fund
Stage
- Early Stage Startup
- Late Stage Startup
Industries
- SaaS
- Cloud
- Cybersecurity
- Enterprise
- Supply Chain & Logistics
- AI & ML
Investment size
The investment size of Leaders Fund is Up to $20M
Notable Investments
1. Ada
URL: www.ada.cx
Funding Rounds: 7
Total Funding: $190.6M
2. 360insights
URL: 360insights.com
Funding Rounds: 3
Total Funding: $47.7M
3. Drata
URL: drata.com
Funding Rounds: 4
Total Funding: $328.2M
Contact
Website: https://www.leaders.vc/
14. Brand Project
Brand Project is a multi-stage venture capital organization that invests in consumer brands. They have a team of experienced entrepreneurs and operators. They are passionate about partnering with visionary founders. Besides that, they are typically the first venture money and often the sole investor in a round. They are always dedicated to helping founders reach their dreams. Also, they are actively looking to back passionate founders who are creating differentiated products for large markets.
Details of Brand Project
Foundation Year: 2013
Countries of Operation:
- Canada
- USA
Number of Investments: 47
Lead investments: 7
Number of Exits: 15
Funds raised: $12M
Focus of Brand Project
Stage
- Pre-Seed
- Seed
- Series A
Industries
- Consumer
- DTC
- Health & Wellness
- Food & Beverage
- Marketplace
- Supply Chain & Logistics
Investment size
Minimum check size: $500,000
Maximum check size: $5,000,000
Notable Investments
1. Freshly
URL: www.freshly.com
Funding Rounds: 5
Total Funding: $107M
2. Porta
URL: eatporta.com
Funding Rounds: 1
Total Funding: CA $10.5M
3. Owlet
URL: www.owletcare.com
Funding Rounds: 8
Total Funding: $217.2M
Contact
Website: https://brandproject.com/
Email:
15. Arctern
ArcTern Ventures is a venture capital firm that is obsessed with rethinking sustainability and helping solve the climate crisis. They began with the idea that speeding up the shift to a carbon-neutral economy would create a huge chance for significant financial gains.
They invest worldwide in tech startups that can drastically cut down greenhouse gas emissions. Also, they love working with visionary entrepreneurs who can deliver positive environmental impact.
Details of Arctern
Foundation Year: 2012
Countries of Operation:
- Canada
Number of Investments: 58
Lead Investments: 18
Number of Exits: 3
Funds raised: $485.4M
Focus of Arctern
Stage
- Series A
- Early Stage Startup
Industries
- Climate & Sustainability
- AI & ML
- Biotech
- Robotics
- Transportation
- Industrial
- Manufacturing
- Energy
Investment size
Minimum check size: $5,000,000
Maximum check size: $15,000,000
Notable Investments
1. Emitwise
URL: www.emitwise.com
Funding Rounds: 4
Total Funding: $16.6M
2. Palmetto
URL: palmetto.com
Funding Rounds: 9
Total Funding: 628.3M
3. Carbon America
URL: www.carbonamerica.com
Funding Rounds: 5
Total Funding: $39.5M
Contact
Website: https://www.arcternventures.com/
Email: info@arcternventures.com
16. Verstra Ventures
Verstra Ventures is a venture capital firm based in Mississauga, Canada. They invest in outstanding founders who are building enduring software companies. Through their capital, network, and extensive knowledge, they are vertically focused software businesses. Also, they help their portfolio companies scale up quickly and sustainably. Besides that, they go beyond traditional venture capital and consider long-term, unique, and unorthodox investments.
Details of Verstra Ventures
Foundation Year: 2018
Countries of Operation:
- Canada
Number of Investments: 18
Lead Investments: 3
Number of Exits: 2
Focus of Verstra Ventures
Stage
- Early Stage Startup
- Late Stage Startup
Industries
- Enterprise
- SaaS
Investment size
Minimum check size: $500,000
Maximum check size: $2,000,000
Notable Investments
1. Renovai
URL: renovai.com
Funding Rounds: 2
Total Funding: $5.8M
2. Dream Payments
URL: www.dreampayments.ca
Funding Rounds: 5
Total Funding: $15.8M
3. MiCharity
URL: micharity.com
Funding Rounds: 6
Total Funding: $6.1M
Contact
Website: https://verstraventures.com/
Email: info@verstraventures.com
17. Plug and Play Tech Center
Plug and Play venture capital firm is the ultimate innovation platform. Their mission is to build the world’s leading innovation platform and open it to anyone, anywhere. They do this by connecting entrepreneurs, corporations, and investors worldwide. Also, they’re working with partners to build a system that connects people, invests in startups, and brings together key stakeholders.
Details of Plug and Play Tech Center
Foundation Year: 2006
Countries of Operation:
- Canada
- USA
- Brazil
- United Arab Emirates
- Netherlands
- Belgium
- Spain
- Switzerland
- Morocco
- Germany
- Turkey
- South Africa
- Italy
- France
- China
- Japan
- South Korea
Number of Investments: 6092
Lead Investments: 144
Number of Exits: 1364
Funds raised: $45.5M
Focus of Plug and Play Tech Center
Stage
- Early Stage Startup
- Series A
- Series B
- Series C
Industries
- DTC
- Enterprise
- Fintech
- Food & Beverage
- Healthcare
- InsurTech
- IoT
- Media
- Transportation
- Hardware
- Proptech & Real Estate
- Supply Chain & Logistics
- Climate & Sustainability
- Travel & Hospitality
- Agriculture
- Energy
Investment size
Minimum cheque size: $50,000
Maximum Cheque Size: $250,000
Notable Investments
1. PayPal
URL: www.paypal.com
Funding Rounds: 6
Total Funding: $5.2B
2. Honey
URL: www.joinhoney.com
Funding Rounds: 6
Total Funding: $31.8M
3. Shippo
URL: goshippo.com
Funding Rounds: 8
Total Funding: $154.3M
Contact
Website: https://www.plugandplaytechcenter.com/
Email: investment@plugandplaytechcenter.com
Phone: +1 408-524-1400
This was our list of venture capital firms in Toronto willing to invest in your early-stage startup. Getting funds in the early stage will take a lot of work. Remember venture capital firms in Toronto are now more selective than they ever were, so you have to be prepared with your idea. Develop your MVP well, Prepare a winning pitch deck, and then approach VCs. This increases your investment opportunities.
With your idea, you also have to formulate your startup team structure, figure out the equity, do market research for the startup, and find out the potential.
Remember, venture capital firms don’t just invest in ideas; They invest in people. If investors could see you are already prepared enough, the chances of you getting funded increase a lot. You can also discuss everything with an expert if you want.
And one more thing, you also have to decide the way you want to develop your product. You can consider setting up an in-house development team or outsourcing your development efforts. Once you are set on the type of team, finalize how you will hire your developers.
Finally, always remember it can be hard to get the funding, but if you have solid preparation and vision, you can get one.
Best of Luck!
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