# Investors based in Montreal (2026 list) > 273 investors based in Montreal, 8% active in the last 12 months. Led by BDC Capital, Inovia Capital, Panache Ventures. Ranked by what they funded. Source: https://millionrounds.com/lists/investors-based-in-montreal (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # Investors based in Montreal Updated 7 November 2026 Firms with an address in Montreal. A head office is a fact about the firm; where it invests is on its own page. [See all 273 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Finvestors-based-in-montreal)The top 25 **273** investors on the list No change this week **181** cheques in 12 months *+38%* against the market **$10M** median round they joined *+25%* against the market median **8%** wrote a cheque in 12 months **7%** have led a round ## The Top 25 Ordered by cheques observed, never by anything anyone paid for Deploying now (15) - 1 [BDC Capital](https://millionrounds.com/fund/bdc-venture-capital) *Deploying now* VC firm · Canada **685** **$6M** median round **Sept 2026** last seen - 2 [Inovia Capital](https://millionrounds.com/fund/inovia-capital) *Deploying now* VC firm · Canada **328** **$11M** median round **Nov 2026** last seen - 3 [Panache Ventures](https://millionrounds.com/fund/panache-ventures) *Deploying now* VC firm · Canada **86** **$3.8M** median round **Sept 2026** last seen - 4 [Anges Quebec](https://millionrounds.com/fund/anges-quebec) *Deploying now* Angel network · Canada **83** **$1.7M** median round **Oct 2026** last seen - 5 [AQC Capital](https://millionrounds.com/fund/aqc-capital) *Deploying now* Government · Canada **58** **$2M** median round **Aug 2026** last seen - 6 [Fonds de solidarite Ftq](https://millionrounds.com/fund/fonds-de-solidarite-ftq) *Deploying now* VC firm · Canada **58** **$21M** median round **Nov 2026** last seen - 7 [Cycle Momentum](https://millionrounds.com/fund/cycle-momentum) *Deploying now* VC firm · Canada **52** **$2M** median round **Jun 2026** last seen - 8 [FounderFuel](https://millionrounds.com/fund/founderfuel) dormant Accelerator · Canada **45** **$49K** median round **Jul 2015** last seen - 9 [Cycle Capital](https://millionrounds.com/fund/cycle-capital) *Deploying now* Private equity · Canada **30** **$8.5M** median round **Aug 2026** last seen - 10 [Real Ventures](https://millionrounds.com/fund/real-ventures) quiet VC firm · Canada **28** **$1.1M** median round **Oct 2013** last seen - 11 [Brightspark Ventures](https://millionrounds.com/fund/brightspark-ventures) *Deploying now* VC firm · Canada **26** **$10M** median round **Jan 2026** last seen - 12 [GeneChem](https://millionrounds.com/fund/genechem) dormant Growth equity · Canada **21** **$20M** median round **May 2014** last seen - 13 [GO Capital Fund](https://millionrounds.com/fund/investissement-quebec) *Deploying now* Government · Canada **19** **$28M** median round **Nov 2026** last seen - 14 [TandemLaunch](https://millionrounds.com/fund/tandemlaunch) *Deploying now* Accelerator · Canada **14** **$3.5M** median round **Jun 2026** last seen - 15 [Sectoral Asset Management](https://millionrounds.com/fund/sectoral-asset-management) quiet Private equity · Canada **12** **$40M** median round **Oct 2025** last seen - 16 [Tandem Expansion Fund](https://millionrounds.com/fund/tandem-expansion-fund) dormant Growth equity · Canada **12** **$17M** median round **Nov 2015** last seen - 17 [BCE Inc (Bell Canada Enterprises)](https://millionrounds.com/fund/bell-ventures) *Deploying now* Corporate VC · Canada **12** **$2.6B** median round **Oct 2026** last seen - 18 [CTI Life Sciences Fund](https://millionrounds.com/fund/cti-life-sciences-fund) *Deploying now* VC firm · Canada **10** **$30M** median round **Nov 2026** last seen - 19 [Luge Capital](https://millionrounds.com/fund/luge-capital) *Deploying now* VC firm · Canada **8** **$4.8M** median round **Feb 2026** last seen - 20 [CTI Capital](https://millionrounds.com/fund/cti-capital-securities-inc) quiet VC firm · Canada **7** **$20M** median round **Jul 2014** last seen - 21 [NORTHBRIDGE EQUITY](https://millionrounds.com/fund/northbridge) quiet Private equity · Canada **6** **$30M** median round **Feb 2019** last seen - 22 [BoxOne Ventures](https://millionrounds.com/fund/boxone-ventures) quiet Private equity · Canada **5** **$3.5M** median round **Sept 2025** last seen - 23 [Diagram](https://millionrounds.com/fund/diagram) *Deploying now* Venture studio · Canada **5** **$15M** median round **Sept 2026** last seen - 24 [Ecofuel](https://millionrounds.com/fund/ecofuel) quiet Accelerator · Canada **5** **$1.5M** median round **Mar 2019** last seen - 25 [Telesystem Ltd.](https://millionrounds.com/fund/telesystem) quiet VC firm · Canada **5** **$40M** median round **Nov 2018** last seen **248 more on this list** All 273 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%2Finvestors-based-in-montreal) ## The Newest Cheques Rounds this list's investors joined most recently - **6** Nov **[Physicl](https://millionrounds.com/company/physicl)** Seed · $10M *Led by* [Inovia Capital](https://millionrounds.com/fund/inovia-capital) - **3** Nov **[Thryv Therapeutics](https://millionrounds.com/company/thryv-therapeutics)** Series B · $30M *With* [GO Capital Fund](https://millionrounds.com/fund/investissement-quebec) - **29** Oct **[Cohere](https://millionrounds.com/company/cohere)** $5B *With* [Inovia Capital](https://millionrounds.com/fund/inovia-capital) - **28** Oct **[Wealthsimple](https://millionrounds.com/company/wealthsimple)** Growth · $425M *With* [Inovia Capital](https://millionrounds.com/fund/inovia-capital) - **28** Oct **[Wealthsimple](https://millionrounds.com/company/wealthsimple)** $302M *With* [Inovia Capital](https://millionrounds.com/fund/inovia-capital) - **26** Oct **[DropGenie](https://millionrounds.com/company/dropgenie)** Seed · $5M *With* [Anges Quebec](https://millionrounds.com/fund/anges-quebec) ## Stages This Year 149 rounds - Seed **24%** - Venture **15%** - Grant **11%** - Series A **9%** - Other **9%** - Other **32%** ## What They Backed Sectors, last 12 months - AI **48** - Hardware & Electronics **11** - Fintech **10** - Big Data & Analytics **9** - Biotech **9** - Energy **8** ## Cheques by Quarter Led Joined 36 Q1 25 34 Q2 25 36 Q3 25 38 Q4 25 58 Q1 26 61 Q2 26 36 Q3 26 13 Q4 26 The last bar is the quarter still running. ## Lists Like This - [Investors based in London 4,496](https://millionrounds.com/lists/investors-based-in-london) - [Investors based in CA 3,746](https://millionrounds.com/lists/investors-based-in-ca) - [Investors based in NY 3,658](https://millionrounds.com/lists/investors-based-in-ny) - [Investors based in WA 2,473](https://millionrounds.com/lists/investors-based-in-wa) - [Investors based in San Francisco 2,377](https://millionrounds.com/lists/investors-based-in-san-francisco) - [Investors based in TX 2,250](https://millionrounds.com/lists/investors-based-in-tx) - [Investors based in Dubai 1,922](https://millionrounds.com/lists/investors-based-in-dubai) - [Investors based in Los Angeles 1,261](https://millionrounds.com/lists/investors-based-in-los-angeles) - [Investors based in Chicago 1,255](https://millionrounds.com/lists/investors-based-in-chicago) [All investor lists *→*](https://millionrounds.com/lists) ## Quick answers about investors based in Montreal ### Who are the most active investors based in Montreal? By cheques observed, the most active are BDC Capital, Inovia Capital, Panache Ventures, Anges Quebec and AQC Capital. ### How many investors based in Montreal are there? 273 are on record. 8% made an investment in the last 12 months and 7% have led a round. ### Which stages do investors based in Montreal back? Of the rounds with a named stage in the last 12 months, mostly Seed (33%) and Grant (15%). ### How big are the rounds investors based in Montreal join? The typical (median) round among the leading investors here is $10M. ### Which sectors do investors based in Montreal back most? In the last 12 months, mostly AI, Hardware & Electronics and Fintech. ### Which investors based in Montreal lead the most rounds? Inovia Capital (9 led), Luge Capital (6 led) and Diagram (5 led). ### What have investors based in Montreal invested in recently? Recent rounds include Physicl (Seed, Nov 2026, with Inovia Capital), Thryv Therapeutics (Series B, Nov 2026, with GO Capital Fund) and Cohere (Oct 2026, with Inovia Capital). ### How is this list of investors based in Montreal ranked? By cheques observed, from the rounds and filings we watched, and never by anything anyone paid for. It is rebuilt every night. Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)