# Defence tech investors in Canada (2026 list)

> 34 defence tech investors in Canada, 100% active in the last 12 months. Led by Bessemer Venture Partners, BDC Capital, Unpopular Ventures.

Source: https://millionrounds.com/lists/defensetech-investors-in-canada (Millionrounds; every figure on the page links to its filing or article)

[Investor Lists](https://millionrounds.com/lists)

# Defence tech investors in Canada

Updated 7 November 2026

Firms observed backing a defence tech company in Canada in the last two years, wherever the firm is based.

[See all 34 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fdefensetech-investors-in-canada)The top 25

**34** investors on the list No change this week

**444** cheques in 12 months *+17%* against the market

**$20M** median round they joined *+150%* against the market median

**100%** wrote a cheque in 12 months

**38%** have led a round

## The Top 25

Ordered by cheques observed, never by anything anyone paid for

Deploying now (25)

- 1 [Bessemer Venture Partners](https://millionrounds.com/fund/bessemer-venture-partners) *Deploying now* VC firm · United States **1,038** **$30M** median round **Nov 2026** last seen
- 2 [BDC Capital](https://millionrounds.com/fund/bdc-venture-capital) *Deploying now* VC firm · Canada **685** **$6M** median round **Sept 2026** last seen
- 3 [Unpopular Ventures](https://millionrounds.com/fund/unpopular-ventures) *Deploying now* VC firm · United States **264** **$3M** median round **Sept 2026** last seen
- 4 [Valor Equity Partners](https://millionrounds.com/fund/valor-equity-partners) *Deploying now* VC firm · United States **261** **$50M** median round **Nov 2026** last seen
- 5 [Lakestar](https://millionrounds.com/fund/lakestar) *Deploying now* VC firm · Switzerland **168** **$18M** median round **Oct 2026** last seen
- 6 [Omers Ventures](https://millionrounds.com/fund/omers-ventures) *Deploying now* VC firm · Canada **118** **$21M** median round **Sept 2026** last seen
- 7 [Georgian](https://millionrounds.com/fund/georgian) *Deploying now* VC firm · Canada **100** **$52M** median round **Oct 2026** last seen
- 8 [Garage Capital](https://millionrounds.com/fund/garage-capital-2) *Deploying now* VC firm **88** **$5M** median round **Oct 2026** last seen
- 9 [Golden Ventures](https://millionrounds.com/fund/golden-ventures) *Deploying now* VC firm · Canada **78** **$8.8M** median round **Sept 2026** last seen
- 10 [New Science Venture](https://millionrounds.com/fund/new-science-ventures) *Deploying now* VC firm · United States **50** **$12M** median round **Oct 2026** last seen
- 11 [Royal Bank of Canada](https://millionrounds.com/fund/royal-bank-of-canada) *Deploying now* Growth equity · Canada **46** **$100M** median round **Oct 2026** last seen
- 12 [Silent Ventures](https://millionrounds.com/fund/silent-ventures) *Deploying now* VC firm · United States **7** **$50M** median round **Oct 2026** last seen
- 13 [British Columbia Investment Management Corporation (BCI)](https://millionrounds.com/fund/british-columbia-investment-management-corporation-bci) *Deploying now* Growth equity **6** **$149M** median round **Sept 2026** last seen
- 14 [Emerging Ventures](https://millionrounds.com/fund/emerging-ventures-capital) *Deploying now* VC firm · United States **4** **$2.5M** median round **Oct 2026** last seen
- 15 [Feld Ventures](https://millionrounds.com/fund/feld-ventures) *Deploying now* VC firm · Canada **4** **$13M** median round **Oct 2026** last seen
- 16 [Ripple Ventures](https://millionrounds.com/fund/ripple-ventures) *Deploying now* VC firm · United States **4** **$2.8M** median round **Oct 2026** last seen
- 17 [Expeditions Fund](https://millionrounds.com/fund/expeditions-fund) *Deploying now* VC firm · Poland **3** **$13M** median round **Jun 2026** last seen
- 18 [Tech Horizons](https://millionrounds.com/fund/tech-horizons) *Deploying now* VC firm · Luxembourg **3** **$20M** median round **Oct 2026** last seen
- 19 [BC Investment Management Corporation](https://millionrounds.com/fund/bc-investment-management-corporation) *Deploying now* Growth equity **3** **$98M** median round **Jun 2026** last seen
- 20 [2050 Capital](https://millionrounds.com/fund/2050-capital) *Deploying now* VC firm · United Kingdom **2** **$6M** median round **Oct 2026** last seen
- 21 [Conconi Growth Partners](https://millionrounds.com/fund/conconi-growth-partners) *Deploying now* Growth equity · Canada **2** **$20M** median round **Oct 2026** last seen
- 22 [Deloitte Ventures](https://millionrounds.com/fund/deloitte-ventures) *Deploying now* VC firm · Australia **2** **$53M** median round **Aug 2026** last seen
- 23 [Telegraph Ventures](https://millionrounds.com/fund/telegraph-ventures) *Deploying now* VC firm **2** **$2.5M** median round **Oct 2026** last seen
- 24 [BDC's Industrial Innovation Venture Fund](https://millionrounds.com/fund/bdc-s-industrial-innovation-venture-fund) *Deploying now* VC firm **2** **$8M** median round **Sept 2026** last seen
- 25 [Valour Equity Partners](https://millionrounds.com/fund/valour-equity-partners) *Deploying now* VC firm **2** **$55M** median round **Jun 2026** last seen

**9 more on this list**

All 34 are in the app, with filters for stage, sector and market. A free account shows 10 per search, Pro up to 1,000.

[See the whole list *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fdefensetech-investors-in-canada)

## The Newest Cheques

Rounds this list's investors joined most recently

- **5** Nov **[Zipline](https://millionrounds.com/company/zipline)** Growth · $1.5B *With* [Valor Equity Partners](https://millionrounds.com/fund/valor-equity-partners)
- **4** Nov **Sentra** Series C · $150M *With* [Bessemer Venture Partners](https://millionrounds.com/fund/bessemer-venture-partners)
- **3** Nov **[fal](https://millionrounds.com/company/fal)** $1.3B *Led by* [Bessemer Venture Partners](https://millionrounds.com/fund/bessemer-venture-partners)
- **3** Nov **[Trajectory](https://millionrounds.com/company/trajectory)** Series A · $45M *With* [Bessemer Venture Partners](https://millionrounds.com/fund/bessemer-venture-partners)
- **30** Oct **[Bloomsco](https://millionrounds.com/company/bloomsco)** Pre-seed · $1M *With* [Telegraph Ventures](https://millionrounds.com/fund/telegraph-ventures)
- **30** Oct **[Ares Intelligence](https://millionrounds.com/company/ares-intelligence)** Seed · $3.2M *With* [Lakestar](https://millionrounds.com/fund/lakestar)

## Stages This Year

385 rounds

- Series A **17%**
- Seed **15%**
- Venture **14%**
- Series B **9%**
- Debt **9%**
- Other **37%**

## What They Backed

Sectors, last 12 months

- AI **177**
- Cybersecurity **26**
- Big Data & Analytics **25**
- Healthcare **23**
- Defence Tech **22**
- Fintech **22**

## Cheques by Quarter

Led Joined

105 Q1 25

92 Q2 25

98 Q3 25

110 Q4 25

152 Q1 26

113 Q2 26

102 Q3 26

38 Q4 26

The last bar is the quarter still running.

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- [Cybersecurity investors in United States 702](https://millionrounds.com/lists/cybersecurity-investors-in-united-states)

[All investor lists *→*](https://millionrounds.com/lists)

## Reading for founders in government and defence

- The Hour of the Predator Giuliano da Empoli · 2025 3.94 from 5,140 ratings on Goodreads Government and defence About the book A chilling assessment of international politics in our time, from an internationally bestselling author whose work has sparked controversy and debate across the worldBlending the author’s personal insight with startling historical comparisons to the days of Machiavelli and the… On AmazonListen on Audible
- Written Out of History: The Forgotten Founders Who Fought Big Government Mike Lee · 2017 4.05 from 728 ratings on Goodreads Government and defence Company building About the book Senator Mike Lee tells the story of the Founders whose warnings about the dangers of an all-powerful federal government helped shape our Constitution--but are being ignored today. Today, most Americans are familiar only with the "big names" associated with the Founding -… On AmazonListen on Audible
- Unit X: How the Pentagon and Silicon Valley Are Transforming the Future of War Raj M. Shah · 2024 3.82 from 1,608 ratings on Goodreads Government and defence Company building Innovation About the book Shortlisted for the 2024 Financial Times Business Book of the Year “An exceedingly important book!”, General David Petraeus, US Army (Ret.), former Director of the CIA “Essential reading for understanding how technology will change the future of warfare.”, Chris Miller, New York… On AmazonListen on Audible
- The Sirens' Call: How Attention Became the World's Most Endangered Resource Christopher L. Hayes · 2025 3.93 from 8,942 ratings on Goodreads Government and defence About the book An Instant #1 New York Times BestsellerFrom the New York Times bestselling author and MSNBC and podcast host, a powerful wide-angle reckoning with how the assault from attention capitalism on our minds and our hearts has reordered our politics and the very fabric of our… On AmazonListen on Audible

More books for founders and investors on the [Reading List](https://millionrounds.com/reading-list?role=founder&industry=government).

As an Amazon Associate we earn from qualifying purchases.

## Quick answers about defence tech investors in Canada

### Who are the most active defence tech investors in Canada?

By cheques observed, the most active are Bessemer Venture Partners, BDC Capital, Unpopular Ventures, Valor Equity Partners and Lakestar.

### How many defence tech investors in Canada are there?

34 are on record. 100% made an investment in the last 12 months and 38% have led a round.

### Which stages do defence tech investors in Canada back?

Of the rounds with a named stage in the last 12 months, mostly Series A (22%) and Seed (19%).

### How big are the rounds defence tech investors in Canada join?

The typical (median) round among the leading investors here is $18M.

### Which sectors do defence tech investors in Canada back most?

In the last 12 months, mostly AI, Cybersecurity and Big Data & Analytics.

### Which defence tech investors in Canada lead the most rounds?

Bessemer Venture Partners (51 led), Valor Equity Partners (21 led) and Georgian (13 led).

### Where are defence tech investors in Canada based?

Among the most active, most are based in the United States (7), Canada (7) and Switzerland (1).

### What have defence tech investors in Canada invested in recently?

Recent rounds include Zipline (Growth, Nov 2026, with Valor Equity Partners), Sentra (Series C, Nov 2026, with Bessemer Venture Partners) and fal (Nov 2026, with Bessemer Venture Partners).

Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)