# Cycle Momentum: portfolio, investments and team

> Cycle Momentum is a vc firm based in Canada. 52 investments on record, 12 in the last 12 months, latest Jun 2026. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/cycle-momentum (Millionrounds; every figure on the page links to its filing or article)

Canada · [Investor](https://millionrounds.com/investors)

# Cycle Momentum

Last cheque observed Jun 2026; 52 cheques on record.

Deploying now VC firm

Pre-seed Growth Biotechnology Manufacturing

Deploying now

**75%** of best year **12** **cheques in 12 months**, 52 on record

Since the last cheque **147** days **00** hrs **00** min **00** sec

Median round **$2.0M** Rounds led **0 of 52** Sole investor **1 rounds** Mostly in **Canada, 87%**

Pitch Cycle Momentum

## Cycle Momentum highlights

- 01 12 cheques in the last 12 months
- 02 Mostly Seed and Venture: 66% of its rounds
- 03 Sole investor in 1 rounds, median $1.1M

## What they do

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** Not stated
- **Stages:** Pre-seed Growth
- **Sectors:** Biotechnology Manufacturing
- **Based in:** Montreal, Canada
- **Cold pitches:** Accepted

## The record

Every round we can evidence, newest first **52 appearances**

- **2026** 10 rounds
- **Jun** **[Agapyo](https://millionrounds.com/company/agapyo)** Seed · CA · Cycle Momentum **$1.9M** With 3 others
- **Jun** **[Carbicrete](https://millionrounds.com/company/carbicrete)** Grant · CA **$705K** With 3 others
- **May** **[Aplantex](https://millionrounds.com/company/aplantex)** CA **$3.7M** With 2 others
- **May** **[SPARK Microsystems](https://millionrounds.com/company/spark-microsystems)** Grant · CA **$730K** With 3 others
- **May** **[Silvis Materials](https://millionrounds.com/company/silvis-materials)** Venture · US **Undisclosed** With 4 others
- **Apr** **[Opalia](https://millionrounds.com/company/opalia)** Seed · CA **$2.3M** With 3 others
- **Mar** **[ChillSkyn](https://millionrounds.com/company/chillskyn)** Seed · CA · Cycle Momentum **Undisclosed** With 1 other
- **Feb** **[JetScaleAI](https://millionrounds.com/company/jetscaleai)** Seed · CA · Diagram **$5.4M** With 4 others
- **Feb** **[GreenLIB Materials](https://millionrounds.com/company/greenlib-materials)** Seed · CA **$1.1M** With 3 others
- **Jan** **[Irreversible](https://millionrounds.com/company/irreversible)** Venture · CA **Undisclosed** With 3 others
- **2025** 9 rounds
- **Dec** **[Nfinite Nanotechnology](https://millionrounds.com/company/nfinite-nanotechnology)** Grant **$2.8M** With 2 others
- **Nov** **[Gamotech](https://millionrounds.com/company/gamotech)** Grant · CA **$71K** With 3 others
- **Sept** **[Folia Materials](https://millionrounds.com/company/folia-materials)** Venture · US **$400K** With 4 others
- **Sept** **[Freshr Technologies](https://millionrounds.com/company/freshr-technologies)** Grant · CA **$169K** With 3 others
- **Aug** **[Mogile Technologies](https://millionrounds.com/company/mogile-technologies)** Grant · CA **$676K** With 2 others
- **Aug** **[Calogy Solutions](https://millionrounds.com/company/calogy-solutions)** Grant · CA **$1.1M** With 3 others
- **Jun** **[AEPONYX](https://millionrounds.com/company/aeponyx)** Grant · CA **$867K** With 2 others
- **Feb** **[Dispersa](https://millionrounds.com/company/dispersa)** Seed · CA · Firms' own news pages **$4.1M** With 14 others
- **Jan** **[Silvis Materials](https://millionrounds.com/company/silvis-materials)** Grant · US **$240K** With 3 others
- **2024** 10 rounds
- **Dec** **[Genuine Taste](https://millionrounds.com/company/genuine-taste)** Pre-seed · CA **$69K** With 3 others
- **Aug** **[Aplantex](https://millionrounds.com/company/aplantex)** Venture · CA **$2.1M** With 2 others
- **Jul** **[ReliON](https://millionrounds.com/company/relion)** Seed · CA · Diagram **$3.0M** With 4 others
- **Jul** **[Polystyvert](https://millionrounds.com/company/polystyvert)** Series B · CA **$16M** With 3 others
- **Jul** **[UgoWork](https://millionrounds.com/company/ugowork)** Series C · CA **$26M** With 3 others
- **Jul** **[UpSolv](https://millionrounds.com/company/upsolv)** Series B · CA **$16M** With 3 others
- **May** **[Nfinite Nanotech](https://millionrounds.com/company/nfinite-nanotech)** Seed · CA **$6.5M** With 3 others
- **Apr** **[BioIntelligence Technologies](https://millionrounds.com/company/biointelligence-technologies)** Seed · CA **$3.7M** With 5 others
- **Mar** **[Rithmik Solutions](https://millionrounds.com/company/rithmik-solutions)** Seed · CA **$1.5M** With 4 others
- **Mar** **[Opalia](https://millionrounds.com/company/opalia)** Seed · CA **$1.5M** With 3 others
- **2023** 11 rounds
- **Nov** **[MYNI](https://millionrounds.com/company/myni)** Seed · CA **$2.1M** With 3 others
- **Oct** **[Chitozan Health](https://millionrounds.com/company/chitozan-health)** Venture · US **Undisclosed** With 1 other
- **Oct** **[Green Graphite Technologies](https://millionrounds.com/company/green-graphite-technologies)** Seed · CA **$1.5M** With 2 others
- **Oct** **[Latys](https://millionrounds.com/company/latys)** Venture · CA **Undisclosed** With 1 other
- **May** **[ChrysaLabs](https://millionrounds.com/company/chrysalabs)** Series A · CA **$11M** With 3 others
- **May** **[Bello](https://millionrounds.com/company/bello)** Seed · CA **$1.1M** Sole investor
- **Mar** **[Truxweb](https://millionrounds.com/company/truxweb)** Venture · CA **Undisclosed** With 2 others
- **Mar** **[SPARK Microsystems](https://millionrounds.com/company/spark-microsystems)** Series B · CA **$25M** With 3 others
- **Feb** **[BluWave-ai](https://millionrounds.com/company/bluwave-ai)** Series A · CA **$7.1M** With 3 others
- **Jan** **[Sollum Technologies](https://millionrounds.com/company/sollum-technologies)** Growth · CA **$25M** With 5 others
- **Jan** **[Nexus](https://millionrounds.com/company/nexus)** Series A · US **$10M** With 6 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## What they claim to have backed

From their own portfolio page (on their website)

**11** of 41 we have independently watched raise

[Agapyo](https://millionrounds.com/company/agapyo)[Aplantex](https://millionrounds.com/company/aplantex)[Carbicrete](https://millionrounds.com/company/carbicrete)[FilmOrganic](https://millionrounds.com/company/filmorganic)[Folia Materials](https://millionrounds.com/company/folia-materials)[Myni](https://millionrounds.com/company/myni)[Nanomox](https://millionrounds.com/company/nanomox)[Nfinite Nanotech](https://millionrounds.com/company/nfinite-nanotech)[Novobiom](https://millionrounds.com/company/novobiom)[Silvis Materials](https://millionrounds.com/company/silvis-materials)[Sparxell](https://millionrounds.com/company/sparxell) Aecopaq Axipolymer BioSun Bioform Biointelligence Biotechnologies Ulysse Bosk bioproducts CLIMICALS Cellulotech Chartech Solutions Chitozan Corol Cycle Capital Dispersa Inc Electro Carbon Flaura Frett Solutions Gowithalgo GreenLIB Greengraphitetech Kalego Solutions MycoFutures Myllenniumtech O'Land Stations Pakville Planetary Sycle Technologies Unboundchem Webgamma freshr

Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.

## The cheque

Pre-seed Growth

Median round joined **$2.0M** the round, not its cheque Alone, median **$1.1M**

Led 0 of 52 rounds **0%**

- **Sole investor:** 1 rounds
- **Last cheque:** Jun 2026

Rounds by stage said on their site

- Seed *20*
- Venture *11*
- Grant *10*
- Series A *3*
- Series B *3*
- Pre-seed said *-*
- Growth said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Y Combinator](https://millionrounds.com/fund/y-combinator) 48
- [BDC Capital](https://millionrounds.com/fund/bdc-venture-capital) 10
- [Investissement Quebec](https://millionrounds.com/fund/investissement-quebec-2) 10
- [Centech](https://millionrounds.com/fund/centech) 8
- [Creative Destruction Lab](https://millionrounds.com/fund/creative-destruction-lab) 8
- [AQC Capital](https://millionrounds.com/fund/aqc-capital) 6

**Pitching Cycle Momentum?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as Cycle Momentum. A count of rooms they were both in, not a relationship either has claimed.

[**Y Combinator** Accelerator **48** rounds together](https://millionrounds.com/fund/y-combinator)[**BDC Capital** VC firm **10** rounds together](https://millionrounds.com/fund/bdc-venture-capital)[**Investissement Quebec** Investment firm **10** rounds together](https://millionrounds.com/fund/investissement-quebec-2)[**Centech** VC firm **8** rounds together](https://millionrounds.com/fund/centech)[**Creative Destruction Lab** Accelerator **8** rounds together](https://millionrounds.com/fund/creative-destruction-lab)[**AQC Capital** Government **6** rounds together](https://millionrounds.com/fund/aqc-capital)[**Real Ventures** Family office **5** rounds together](https://millionrounds.com/fund/real-ventures-2)[**Export Development Canada** Government **4** rounds together](https://millionrounds.com/fund/export-development-canada)[**Natural Resources Canada** Government **4** rounds together](https://millionrounds.com/fund/natural-resources)[**Innovacorp** VC firm **3** rounds together](https://millionrounds.com/fund/innovacorp)[**Sustainable Development Technology Canada** VC firm **3** rounds together](https://millionrounds.com/fund/sustainable-development-technology-canada)[**Techstars** VC firm **3** rounds together](https://millionrounds.com/fund/techstars)

## Recently backed

The latest companies Cycle Momentum put money into.

[**Agapyo** $1.9M · Jun 2026](https://millionrounds.com/company/agapyo)[**Carbicrete** $705K · Jun 2026](https://millionrounds.com/company/carbicrete)[**Aplantex** $3.7M · May 2026](https://millionrounds.com/company/aplantex)[**SPARK Microsystems** $730K · May 2026](https://millionrounds.com/company/spark-microsystems)[**Silvis Materials** May 2026](https://millionrounds.com/company/silvis-materials)[**Opalia** $2.3M · Apr 2026](https://millionrounds.com/company/opalia)

## On podcasts

1 episode naming Cycle Momentum in the title.

- [The Twenty Minute VC](https://millionrounds.com/podcasts/20vc) 23 Sept 2019 · 36 min 20VC: Bain's Matt Harris on Why Valuation And Market Size Are Not The Most Important Thing At Series A, Why Backing Sociopaths Can Work & Late Cycle Momentum Investing & The Changes That Will Stay in Venture Forever With [Matt Harris](https://millionrounds.com/person/matt-harris) Mentions [Cycle Momentum](https://millionrounds.com/fund/cycle-momentum)[Bain Capital](https://millionrounds.com/fund/bain-capital)[Bain Capital Ventures](https://millionrounds.com/fund/bain-capital-ventures) Apple PodcastsShow page

## Quick answers about Cycle Momentum

### What does Cycle Momentum invest in?

Cycle Momentum invests most often at Seed and Venture (66% of the rounds on record), in sectors such as Biotechnology and Manufacturing.

### How active is Cycle Momentum?

52 investments on record, 12 of them in the last 12 months. The most recent was in Jun 2026.

### What has Cycle Momentum invested in recently?

Its most recent investments on record: Agapyo (Seed, Jun 2026), Carbicrete (Grant, Jun 2026) and Aplantex (Undisclosed round, May 2026).

### How big are Cycle Momentum's cheques?

The median round it joins is $2.0M.

### Does Cycle Momentum lead rounds?

Rarely, if at all: none of its 52 investments on record names it as the lead.

### Where does Cycle Momentum invest?

Most of the companies it backs are in Canada (87%) and the United States (13%).

### Is Cycle Momentum investing now?

Yes: it is actively investing, with 12 investments in the last 12 months.

### Who does Cycle Momentum invest alongside?

Most often Y Combinator (48 rounds together), BDC Capital (10 rounds together) and Investissement Quebec (10 rounds together).

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