# Series B investors in Canada (2026 list) > 85 series B investors in Canada, 95% active in the last 12 months. Led by Y Combinator, General Catalyst, Lightspeed Venture Partners. Source: https://millionrounds.com/lists/series-b-investors-in-canada (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # Series B investors in Canada Updated 7 November 2026 Firms we have watched take part in a Series B round raised by a company in Canada in the last two years, wherever the firm is based. [See all 85 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fseries-b-investors-in-canada)The top 25 **85** investors on the list *+4* this week **3,000** cheques in 12 months *-7%* against the market **$15M** median round they joined *+88%* against the market median **95%** wrote a cheque in 12 months **67%** have led a round ## The Top 25 Ordered by cheques observed, never by anything anyone paid for Deploying now (25) - 1 [Y Combinator](https://millionrounds.com/fund/y-combinator) *Deploying now* Accelerator · United States **6,412** **$3M** median round **Oct 2026** last seen - 2 [General Catalyst](https://millionrounds.com/fund/general-catalyst) *Deploying now* VC firm · United States **1,387** **$27M** median round **Nov 2026** last seen - 3 [Lightspeed Venture Partners](https://millionrounds.com/fund/lightspeed-venture-partners) *Deploying now* VC firm · United States **1,341** **$35M** median round **Nov 2026** last seen - 4 [Founders Fund](https://millionrounds.com/fund/founders-fund) *Deploying now* VC firm · United States **1,122** **$15M** median round **Oct 2026** last seen - 5 [Gaingels](https://millionrounds.com/fund/gaingels) *Deploying now* Private equity · United States **1,010** **$8M** median round **Oct 2026** last seen - 6 [FJ Labs](https://millionrounds.com/fund/fj-labs) *Deploying now* VC firm · United States **849** **$11M** median round **Oct 2026** last seen - 7 [BDC Capital](https://millionrounds.com/fund/bdc-venture-capital) *Deploying now* VC firm · Canada **685** **$6M** median round **Sept 2026** last seen - 8 [Bossa Invest](https://millionrounds.com/fund/bossa-invest) *Deploying now* VC firm · Brazil **657** **$6.7M** median round **Oct 2026** last seen - 9 [Salesforce Ventures](https://millionrounds.com/fund/salesforce-ventures) *Deploying now* Corporate VC · United States **649** **$26M** median round **Nov 2026** last seen - 10 [Felicis](https://millionrounds.com/fund/felicis-ventures) *Deploying now* VC firm · United States **640** **$20M** median round **Nov 2026** last seen - 11 [Creative Destruction Lab](https://millionrounds.com/fund/creative-destruction-lab) *Deploying now* Accelerator · Canada **427** **$3M** median round **Sept 2026** last seen - 12 [Inovia Capital](https://millionrounds.com/fund/inovia-capital) *Deploying now* VC firm · Canada **328** **$11M** median round **Nov 2026** last seen - 13 [Collaborative Fund](https://millionrounds.com/fund/collaborative-fund) *Deploying now* VC firm · United States **305** **$7.5M** median round **Oct 2026** last seen - 14 [Quiet Capital](https://millionrounds.com/fund/quiet-capital) *Deploying now* VC firm · United States **283** **$17M** median round **Oct 2026** last seen - 15 [Business Growth Fund](https://millionrounds.com/fund/bgf) *Deploying now* Private equity · United Kingdom **260** **$9.9M** median round **Nov 2026** last seen - 16 [Forerunner Ventures](https://millionrounds.com/fund/forerunner-ventures) *Deploying now* VC firm · United States **225** **$20M** median round **Oct 2026** last seen - 17 [Eight Roads Ventures](https://millionrounds.com/fund/eight-roads) *Deploying now* VC firm · Bermuda **219** **$25M** median round **Oct 2026** last seen - 18 [Real Ventures](https://millionrounds.com/fund/real-ventures-2) *Deploying now* Family office · Brazil **210** **$5M** median round **Oct 2026** last seen - 19 [Perceptive Advisors](https://millionrounds.com/fund/perceptive-advisors) *Deploying now* Asset manager · United States **206** **$100M** median round **Oct 2026** last seen - 20 [Export Development Canada](https://millionrounds.com/fund/export-development-canada) *Deploying now* Government · Canada **163** **$15M** median round **Oct 2026** last seen - 21 [Breakthrough Energy](https://millionrounds.com/fund/breakthrough-energy) *Deploying now* VC firm · United States **150** **$28M** median round **Oct 2026** last seen - 22 [White Star Capital](https://millionrounds.com/fund/white-star-capital) *Deploying now* VC firm · United States **142** **$12M** median round **Sept 2026** last seen - 23 [MaRS Investment Accelerator Fund](https://millionrounds.com/fund/mars-investment-accelerator-fund) *Deploying now* VC firm · Canada **141** **$2.5M** median round **Oct 2026** last seen - 24 [Government of Canada](https://millionrounds.com/fund/government-of-canada) *Deploying now* Government · Canada **138** **$2.5M** median round **Oct 2026** last seen - 25 [NAP](https://millionrounds.com/fund/nap) *Deploying now* VC firm · Germany **138** **$6M** median round **Sept 2026** last seen **60 more on this list** All 85 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%2Fseries-b-investors-in-canada) ## 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) - **5** Nov **[T-Therapeutics](https://millionrounds.com/company/t-therapeutics)** Series B · $133M *With* [Business Growth Fund](https://millionrounds.com/fund/bgf) - **5** Nov **[Zipline](https://millionrounds.com/company/zipline)** Growth · $1.5B *With* [Salesforce Ventures](https://millionrounds.com/fund/salesforce-ventures) - **4** Nov **[Lazarus AI](https://millionrounds.com/company/lazarus-ai)** $43M *With* [One Way Ventures](https://millionrounds.com/fund/one-way-ventures) - **4** Nov **[Nooks](https://millionrounds.com/company/nooks)** Growth · $500M *Led by* [General Catalyst](https://millionrounds.com/fund/general-catalyst) - **3** Nov **[Thryv Therapeutics](https://millionrounds.com/company/thryv-therapeutics)** Series B · $30M *Led by* [InClin, Inc](https://millionrounds.com/fund/inclin-inc) ## Stages This Year 2,456 rounds - Venture **22%** - Seed **16%** - Series A **16%** - Pre-seed **12%** - Series B **8%** - Other **26%** ## What They Backed Sectors, last 12 months - AI **1,133** - Fintech **156** - Biotech **152** - Big Data & Analytics **136** - Healthcare **121** - Aerospace & Space **99** ## Cheques by Quarter Led Joined 842 Q1 25 828 Q2 25 923 Q3 25 936 Q4 25 944 Q1 26 905 Q2 26 604 Q3 26 162 Q4 26 The last bar is the quarter still running. ## Lists Like This - [Early stage investors in United States 3,774](https://millionrounds.com/lists/early-stage-investors-in-united-states) - [Series A investors in United States 2,305](https://millionrounds.com/lists/series-a-investors-in-united-states) - [Seed investors in United States 2,252](https://millionrounds.com/lists/seed-investors-in-united-states) - [Series B investors in United States 1,647](https://millionrounds.com/lists/series-b-investors-in-united-states) - [Growth investors in United States 1,329](https://millionrounds.com/lists/growth-investors-in-united-states) - [Early stage investors in United Kingdom 1,166](https://millionrounds.com/lists/early-stage-investors-in-united-kingdom) - [Series C investors in United States 967](https://millionrounds.com/lists/series-c-investors-in-united-states) - [Pre-seed investors in United States 774](https://millionrounds.com/lists/pre-seed-investors-in-united-states) - [Seed investors in United Kingdom 692](https://millionrounds.com/lists/seed-investors-in-united-kingdom) [All investor lists *→*](https://millionrounds.com/lists) ## Reading for founders at Series B and scaling - Blitzscaling: The Lightning-Fast Path to Building Massively Valuable Companies Reid Hoffman · 2018 3.95 from 7,118 ratings on Goodreads Scaling and operations Leading and managing Moats and competition About the book Foreword by Bill Gates LinkedIn cofounder, legendary investor, and host of the award-winning Masters of Scale podcast reveals the secret to starting and scaling massively valuable companies. What entrepreneur or founder doesn’t aspire to build the next Amazon, Facebook, or… On AmazonListen on Audible - One Page Talent Management: Eliminating Complexity, Adding Value Marc Effron · 2010 4.00 from 311 ratings on Goodreads Leading and managing Hiring and culture Scaling and operations About the book A Revolutionary Approach to Talent Management You know that winning in today’s marketplace requires top quality talent. You also know what it takes to build that talent, and you spend significant financial and human resources to make it happen. Yet somehow, your company’s… On AmazonListen on Audible - The Culture Code: The Secrets of Highly Successful Groups Daniel Coyle · 2017 4.24 from 37,412 ratings on Goodreads Hiring and culture Leading and managing About the book What do Pixar, Google and the San Antonio Spurs basketball team have in common?The answer is that they all owe their extraordinary success to their team-building skills. In The Culture Code, Daniel Coyle goes inside some of the most effective organisations in the world and… On AmazonListen on Audible - Scaling Up: How a Few Companies Make It...and Why the Rest Don't Verne Harnish · 2014 4.16 from 6,229 ratings on Goodreads Scaling and operations Leading and managing About the book Winner of the 2015 International Book Awards for General Business Winner of the 2015 National Indie Excellence Award for General Business Winner of the 2015 Readers' Favorite International Book Award Gold Medal for Non-Fiction Business Winner of the 2015 Paris Book… On AmazonListen on Audible More books for founders and investors on the [Reading List](https://millionrounds.com/reading-list?role=founder&stage=scaling). As an Amazon Associate we earn from qualifying purchases. ## Quick answers about series B investors in Canada ### Who are the most active series B investors in Canada? By cheques observed, the most active are Y Combinator, General Catalyst, Lightspeed Venture Partners, Founders Fund and Gaingels. ### How many series B investors in Canada are there? 85 are on record. 95% made an investment in the last 12 months and 67% have led a round. ### Which stages do series B investors in Canada back? Of the rounds with a named stage in the last 12 months, mostly Seed (22%) and Series A (22%). ### How big are the rounds series B investors in Canada join? The typical (median) round among the leading investors here is $11M. ### Which sectors do series B investors in Canada back most? In the last 12 months, mostly AI, Fintech and Biotech. ### Which series B investors in Canada lead the most rounds? General Catalyst (97 led), Lightspeed Venture Partners (83 led) and Founders Fund (42 led). ### Where are series B investors in Canada based? Among the most active, most are based in the United States (14), Canada (6) and Brazil (2). ### What have series B investors in Canada invested in recently? Recent rounds include Physicl (Seed, Nov 2026, with Inovia Capital), T-Therapeutics (Series B, Nov 2026, with Business Growth Fund) and Zipline (Growth, Nov 2026, with Salesforce Ventures). Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)