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Toronto’s Top 14 Venture Capital Firms [2022]

Toronto is undeniably the best city in Canada for startups. Indeed, in 2021 alone Toronto’s venture capital firms raised a total of $5.5 billion, a +400% increase vs. 2020..!

In addition to funding, Toronto’s venture capital firms often also offer founders valuable support for hiring, product development, sales and marketing.

In this article we have listed our top 14 picks for the best venture capital firms in Toronto. So, if you haven’t yet started to reach out, here is a good place to start learning about them.

Note: this article is part of a series where we present you the top Venture Capital firms across the world. Have a look at the complete list here.

Top 14 Venture Capital Firms In Toronto

Here’s a summary of our top 14 picks for Toronto’s best venture capital firms for startups (in alphabetical order):

NameSector focusRoundInvestment sizeInvestments
ClearcoE-commerce, mobile apps, and SaaSSeed, Series A, A+$10K to $20M6
Disruption VenturesTechnologySeed, Series AUndiclosed4
Emerald Technology VenturesAgritech, Energy, CleantechSeed, Series AUndiclosed70
Extreme Venture PartnersTechnologySeedUndiclosed72
GCI CapitalTechnologySeed, Series AUndiclosed14
Generation VenturesSmart cities, Industry, AutomautionSeed, Series A, A+Undiclosed25
GeorgianSoftwareSeries A, A+Undiclosed107
Golden VenturesTechnologySeed$500K-$2M134
iGan PartnersHealthcareSeedUndisclosed36
Inovia CapitalTechnologySeed, Series A, A+Undisclosed277
Lumira VenturesBiotech, Medtech, HealthtechSeed, Series AUndisclosed81
Panache VenturesTechnologySeed$250K – $500K92
Relay VenturesMobility, Proptech, Fintech, Sports techSeed, Series AUndisclosed173
Ripple VenturesSoftwareSeed, Series A$250K – $4M27

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Clearco

Clearco is a venture capital firm targeting eCommerce, mobile apps, and SaaS startups. The VC firm invests at early and growth stages and provides equity-free capital tailored to meet founders’ unique requirements in all phases of business growth. Their capital investments range from $10K to $20 M, paid through a revenue share agreement.

Apart from financial investments, Clearco provides founders access to a powerful global network of entrepreneurs and business leaders. Therefore, business founders gain invaluable insights, data, and recommendations from an extensive network of professionals. 

Finally, the VC firm has a presence in Canada, the United States, the United Kingdom, and Australia. 

Disruption Ventures

Disruption Ventures invests in North America’s high-growth technology startups. The VC firm targets women-led startups at Seed and Series A growth phases. They provide financial support and take an active role in supporting their portfolio startups. 

As operation-focused investors, Disruption Ventures understands the challenges entrepreneurs face at the early stages. Therefore, they work with their portfolio companies to prevent mistakes and set them up for the greatest potential outcomes.

DV brings data-driven analysis at the early stages to support business growth, helping businesses make better decisions based on facts and trends. in addition, their metrics-driven approach helps investee companies understand what is going on in their companies and industry so that they can grow faster. 

Emerald Technology Ventures

Emerald Technology Ventures is a VC firm committed to building a sustainable future at the crossroads of industry and technology. The VC firm invests in technology startups that develop solutions for the agriculture sector energy sector and address climate change.  

The VC firm invests in seed and series A business growth phases and dedicates its resources to tackling the most significant challenges to stop climate change and create a sustainable future. They understand technologies and work towards helping entrepreneurs navigate the inevitable challenges when expanding their businesses.

Emerald Technology Ventures provides investee startups access to a unique network and talented team to add value in strategy, governance, and IP strategy. 

Extreme Venture Partners

Extreme Venture Partners support Toronto-based seed-stage startups. They prefer taking the lead investor position and are passionate about working with innovators who drive technological change while creating employment opportunities and impact.

Since its inception, Extreme Venture Partners has registered more than 100 ventures as a lead investor. They have created and managed three funds, made more than 5,000 exceptional careers and created billions in shareholder value creation. 

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GCI Capital

GCI Capital is an early-stage VC firm focusing on technology startups in North America and China. The VC firm backs committed entrepreneurs with innovative, creative, and disruptive ideas. 

The Toronto-based VC firm currently has two funds under its management. Their Canadian fund focuses on the early-stage ICT companies, while their US fund focuses on FinTech, Marketplace, Digital Health, B2B SaaS, and AIoT.

The VC firm constantly supports investee companies in learning, growing, and succeeding. Ideally. their participation includes direct investments via equity, convertible notes, and global expansion through licensing and distribution joint ventures. 

Generation Ventures

Generation Ventures invests in smart and innovative entrepreneurs. The VC firm invests at the early and late stages and can lead or follow. 

GV focuses on smart things and smart investors and seeks to establish a relationship based on mutual trust and shared values with the firm’s management. The Toronto-based VC firm has investments in Canada, China, and the US.  

Finally, Generation Ventures makes direct investments, and they have a multi-disciplinary team that supports their active investment posture.

Georgian

Georgian invests in high-growth technology companies that can benefit from their platform. They prefer backing teams with outstanding leadership and strong work culture and those raising between $25 and &75 Million while generating $500K+ in monthly recurring revenue.

The VC firm provides entrepreneurs with an intelligent, data-driven platform, enabling accelerated company growth. In addition, they provide entrepreneurs access to invaluable data, helping them deliver insights and reach better and faster decisions.

Their management team leverages the insights from data and automated platforms to address the key challenges facing growth-stage entrepreneurs. 

Golden Ventures

Golden Ventures is a sector agnostic VC firm investing at the seed stage and targeting Canada and USA-based entrepreneurs. The VC firm makes initial checks of between $500K and $2M for 7% – 15% ownership.

Golden Ventures looks for product visionaries and strong technologists with a big ambition. The founders must show their domain expertise and strong learning abilities to get invested. Besides, their products or ideas must significantly improve the existing solutions.

The VC firm likes to lead or to co-lead. Besides, they create reserve capital for each investment and apply the reserves based on the company’s progress. 

iGan Partners

iGan Partners is a Toronto-based venture capital investor targeting exceptional founders. The VC firm supports the commercialization of technology solutions that work towards creating advancements in the healthcare sector. The Venture Capital firm seeks to be a change catalyst in healthcare by helping dynamic entrepreneurs grow and excel in business.

iGan aims at enabling entrepreneurs to address the significant challenges in the healthcare sector. Therefore, they provide funding and focus on building lasting partnerships with founders.

iGan Partners adopt the hands-on approach supporting investee companies and helping them secure critical customers. Besides, they provide a strong network of industry partners to mentor and support entrepreneurs. 

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Inovia Capital

Inovia Capital is a venture capital firm that supports founders focusing on technology. The VC firm partners with founders and backs them to build enduring global technology companies. Their support includes long-term mentorship, a robust talent network, and strategic support to help them scale. Inovia Capital invests in startups from the seed stage through IPO and beyond.

The VC firm is committed to founders’ success and brings together more than 40 team members to support early and growth-stage businesses. The team includes investment professionals, operators, entrepreneurs, and talented staff dedicated to working with the founders.

The VC firm operates globally and has offices in Canada, the Bay Area, and London. 

Lumira Ventures

Lumira Ventures is a venture capital firm that partners with exceptional entrepreneurs in building life science companies that will transform the lives of patients globally. The VC firm has years of experience founding, managing, and investing in healthcare and life science companies. They look for founders ready to collaborate and deploy their creativity and conventional wisdom in improving the industry.

Lumira Ventures is strategically situated in North America, identifies innovative startups within and outside the traditional startup hubs, and helps them access capital, talent, and strategic partners.  

Panache Ventures

Panache Ventures invests in forward-thinking high-growth Canadian startups building technology-focused solutions. The VC firm supports founders who have identified a problem and working towards creating a practical solution. They are keen on founders who have proven the market potential is super scalable, and have developed a commercial product or service addressing the problem. 

The VC firm invests at pre-seed and seed stages and provides check sizes of between $250K and $500K.

By partnering with Panache Ventures, portfolio companies gain access to peers and partners with relevant experience. The investee companies receive mentorship from investors, experts and consumers.

Relay Ventures

Relay Ventures is a vertically focused venture capitalist investing early and throughout the startup lifecycle. The VC firm targets startups with growth potential and fuelled by the rapid adoption of technology. The VC firm has an active presence in Toronto and Calgary.

Relay Ventures invests in four verticals that they believe technology has an outsized impact. The four verticals include proptech, mobility, fintech, and sportstech. The VC firm takes a hands-on approach to propel its founders to success. 

The VC firm’s approach enables them to provide industry and ecosystem access to investee companies and accelerated customer relationships.

Ripple Ventures

Ripple Ventures supports product-focused teams obsessed with customers and leveraging deep domain expertise to solve complex problems in global markets. 

The VC firm invests at pre-seed, seed, and Series A stages. They lead, or co-lead rounds are they are ready to make follow-on investments in the most promising companies.

The VC firm understands the complex process of building companies. They promise to support the founders through the thick and thin and provide access to a solid industry and talented network. The investment firm supports portfolio companies from the ideation through Series A.  

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  • Investor-friendly
  • Easy-to-use Excel & PPT templates
  • CPA-developed financials
  • 30+ charts and metrics