# N49P: portfolio, investments and team

> N49P is a vc firm based in Canada. 45 investments on record, 10 in the last 12 months, latest Sept 2026. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/n49p (Millionrounds; every figure on the page links to its filing or article)

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

# N49P

Last cheque observed Sep 2026; 45 cheques on record.

Email

Deploying now New fund $13M, Dec 2025 VC firm

Pre-seed Seed Series A Consumer E-Commerce Venture Capital & Private Equity

Follow N49P and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fn49p)

Deploying now

**91%** of best year **10** **cheques in 12 months**, 45 on record

Since the last cheque **40** days **00** hrs **00** min **00** sec

Median round **$2.1M** Cheque size, as they say **$100K – $5.0M** Rounds led **1 of 45** Sole investor **7 rounds** Mostly in **Canada, 74%**

Pitch N49P

## N49P highlights

- 01 10 cheques in the last 12 months
- 02 Mostly Seed and Venture: 63% of its rounds
- 03 Sole investor in 7 rounds, median $1.6M

## What they do

> Page title: 'Powering Canada’s Top Founders | N49P Venture Capital' From their own website

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** $100K – $5.0M as they say
- **Stages:** Pre-seed Seed Series A Series B
- **Sectors:** Consumer E-Commerce Venture Capital & Private Equity
- **Based in:** Toronto, Canada
- **Cold pitches:** Accepted

## The record

Every round we can evidence, newest first **45 appearances**

- **2026** 9 rounds
- **Sept** **[Thri5](https://millionrounds.com/company/thri5)** Seed · CA · BetaKit **$5.4M** With 6 others
- **Sept** **[Orbits](https://millionrounds.com/company/orbits)** Pre-seed · US · BetaKit **$2.0M** With 3 others
- **Sept** **[Vivid Machines](https://millionrounds.com/company/vivid-machines)** Grant · CA **$1.2M** With 3 others
- **Aug** **[Valstad Shipworks](https://millionrounds.com/company/valstad-shipworks)** Venture · US **$8.6M** Sole investor
- **Jun** **[Maneva](https://millionrounds.com/company/maneva)** Series A · U.S. Venture Partners **$27M** With 3 others
- **May** **[Dessn](https://millionrounds.com/company/dessn)** TechCrunch **$6.0M** With 3 others
- **Apr** **[Wygo](https://millionrounds.com/company/wygo)** Pre-seed · US **$1.6M** With 1 other
- **Mar** **[Remitian](https://millionrounds.com/company/remitian)** Seed · US **$7.0M** With 1 other
- **Jan** **Mave** Seed · CA **$5.0M** With 1 other
- **2025** 7 rounds
- **Nov** **[KitchenMate](https://millionrounds.com/company/kitchenmate)** Venture · CA **Undisclosed** With 4 others
- **Oct** **[Slate](https://millionrounds.com/company/slate)** Pre-seed · CA **$933K** Sole investor
- **Jul** **[Quandri](https://millionrounds.com/company/quandri)** Series A · CA · TechStartups **$12M** With 5 others
- **Jun** **[TeachAid](https://millionrounds.com/company/teachaid)** Pre-seed · CA **$875K** With 2 others
- **Mar** **[Maneva](https://millionrounds.com/company/maneva)** Seed · CA **$10M** With 2 others
- **Feb** **[Kento Health](https://millionrounds.com/company/kento-health)** Venture · CA **Undisclosed** With 1 other
- **Jan** **[The Intelligent Search Company](https://millionrounds.com/company/the-intelligent-search-company)** Pre-seed · US **$2.1M** With 1 other
- **2024** 6 rounds
- **Oct** **Mave** Pre-seed · CA · Alate Partners **$1.4M** *Led*
- **Jul** **[Planned](https://millionrounds.com/company/planned)** Series B · CA · BetaKit: funding **$35M** With 3 others
- **Jul** **[Caribou](https://millionrounds.com/company/caribou)** Venture · US **Undisclosed** With 1 other
- **May** **[CoRecruit](https://millionrounds.com/company/corecruit)** Seed · CA **$2.0M** With 1 other
- **May** **[Baseline](https://millionrounds.com/company/baseline)** Seed · AU **$1.6M** Sole investor
- **Mar** **[Tengiva](https://millionrounds.com/company/tengiva)** Debt · CA **$99K** With 3 others
- **2023** 9 rounds
- **Dec** **[EZee Assist](https://millionrounds.com/company/ezee-assist)** Pre-seed · CA **$1.4M** With 1 other
- **Sept** **[Hop In Technologies](https://millionrounds.com/company/hop-in-technologies)** Seed · CA **$1.3M** With 4 others
- **Jul** **[Sherpa](https://millionrounds.com/company/sherpa)** Venture · US **Undisclosed** With 4 others
- **Jul** **[Lotly](https://millionrounds.com/company/lotly)** Venture · CA **Undisclosed** With 2 others
- **Jul** **[HumanFirst](https://millionrounds.com/company/humanfirst)** Seed · CA **$3.8M** With 4 others
- **May** **[CoBrand](https://millionrounds.com/company/cobrand)** Pre-seed · US **$1.0M** Sole investor
- **Feb** **[Moves](https://millionrounds.com/company/moves)** Venture · CA **Undisclosed** With 5 others
- **Jan** **[Plannin](https://millionrounds.com/company/plannin)** Venture · CA **$1.8M** With 1 other
- **Jan** **[SJW Robotics](https://millionrounds.com/company/sjw-robotics)** Seed · CA **$2.0M** Sole investor
- **2022** 10 rounds
- **Oct** **[Halp](https://millionrounds.com/company/halp)** Seed · CA **$4.0M** With 3 others
- **Sept** **[Lynk](https://millionrounds.com/company/lynk)** Seed · US **$3.0M** With 3 others
- **Jun** **[Altrio](https://millionrounds.com/company/altrio)** Series A · CA **$6.2M** Sole investor
- **Jun** **[SortSpoke](https://millionrounds.com/company/sortspoke)** Venture · CA **$4.5M** With 2 others
- **Jun** **[Kruzee](https://millionrounds.com/company/kruzee)** Pre-seed · CA **$399K** Sole investor
- **May** **[Zenbase](https://millionrounds.com/company/zenbase)** Seed · CA **$3.1M** With 2 others
- **May** **[Supportbench Services Inc.](https://millionrounds.com/company/supportbench-services-inc)** Seed · CA **$1.5M** With 1 other
- **Mar** **[TriplePlay](https://millionrounds.com/company/tripleplay)** Venture · CA **Undisclosed** With 3 others
- **Mar** **[Key](https://millionrounds.com/company/key)** Seed · CA **$8.5M** With 4 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.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **2 named**

DP **Douglas Penick** Manager i Filing they signed

ST **Sonya Thomas** Manager i Filing they signed

We also hold **5** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**Exempt** reporting adviser venture or small private funds

- **Legal name:** N49p Management, LLC
- **SEC number:** CRD 322307

New fund on file

**$13M**

raised in Dec 2025

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Pre-seed Seed Series A

Median round joined **$2.1M** the round, not its cheque Alone, median **$1.6M**

Led 1 of 45 rounds **2%**

- **Said size:** $100K – $5.0M
- **Sole investor:** 7 rounds
- **Last cheque:** Sept 2026

Rounds by stage said on their site

- Seed said *16*
- Venture *11*
- Pre-seed said *10*
- Series A said *4*
- Grant *1*
- Debt *1*
- Series B said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Garage Capital](https://millionrounds.com/fund/garage-capital-2) 5
- [Panache Ventures](https://millionrounds.com/fund/panache-ventures) 5
- [Real Ventures](https://millionrounds.com/fund/real-ventures-2) 4
- [Golden Ventures](https://millionrounds.com/fund/golden-ventures) 3
- [Inovia Capital](https://millionrounds.com/fund/inovia-capital) 3
- [Techstars](https://millionrounds.com/fund/techstars) 3

**Pitching N49P?** 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 N49P. A count of rooms they were both in, not a relationship either has claimed.

[**Garage Capital** VC firm **5** rounds together](https://millionrounds.com/fund/garage-capital-2)[**Panache Ventures** VC firm **5** rounds together](https://millionrounds.com/fund/panache-ventures)[**Real Ventures** Family office **4** rounds together](https://millionrounds.com/fund/real-ventures-2)[**Golden Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/golden-ventures)[**Inovia Capital** VC firm **3** rounds together](https://millionrounds.com/fund/inovia-capital)[**Techstars** VC firm **3** rounds together](https://millionrounds.com/fund/techstars)[**500 Global** Angel **2** rounds together](https://millionrounds.com/fund/500-startups)[**Bling Capital** VC firm **2** rounds together](https://millionrounds.com/fund/bling-capital)[**Creative Destruction Lab** Accelerator **2** rounds together](https://millionrounds.com/fund/creative-destruction-lab)[**Entrepreneur First** Accelerator **2** rounds together](https://millionrounds.com/fund/entrepreneurs-first)[**FUSE** VC firm **2** rounds together](https://millionrounds.com/fund/fuse)[**Forum Ventures** VC firm **2** rounds together](https://millionrounds.com/fund/forum-ventures)

## Recently backed

The latest companies N49P put money into.

[**Thri5** $5.4M · Sept 2026](https://millionrounds.com/company/thri5)[**Vivid Machines** $1.2M · Sept 2026](https://millionrounds.com/company/vivid-machines)[**Valstad Shipworks** $8.6M · Aug 2026](https://millionrounds.com/company/valstad-shipworks)[**Maneva** $27M · Jun 2026](https://millionrounds.com/company/maneva)[**Dessn** $6.0M · May 2026](https://millionrounds.com/company/dessn)[**Wygo** $1.6M · Apr 2026](https://millionrounds.com/company/wygo)

## Quick answers about N49P

### What does N49P invest in?

N49P invests most often at Seed and Venture (63% of the rounds on record), in sectors such as Consumer, E-Commerce and Venture Capital & Private Equity.

### How active is N49P?

45 investments on record, 10 of them in the last 12 months, and it led 1. The most recent was in Sept 2026.

### What has N49P invested in recently?

Its most recent investments on record: Thri5 (Seed, Sept 2026), Orbits (Pre-seed, Sept 2026) and Vivid Machines (Grant, Sept 2026).

### How big are N49P's cheques?

The median round it joins is $2.1M. It says it writes cheques of $100K to $5.0M.

### Does N49P lead rounds?

Sometimes: it led 1 of its 45 investments on record (2%).

### Where does N49P invest?

Most of the companies it backs are in Canada (74%) and the United States (24%).

### Is N49P investing now?

Yes: it is actively investing, with 10 investments in the last 12 months.

### Who does N49P invest alongside?

Most often Garage Capital (5 rounds together), Panache Ventures (5 rounds together) and Real Ventures (4 rounds together).

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Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=n49p) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=n49p)