Tech-active · Montreal, QC

Boreal Ventures

Canada's growth partner for founders going from early traction to revenue engines.

← Investors in Quebec
Cheque
$1.5M to $3M
Role
Can lead a round
Pace
Actively deploying
Kind
Tech-active
Based in
Montreal, QC
Vehicle size
$43M
Founded
2021
Works in
EN + FR
Last deal seen
June 2026
Stages
Pre-seed, Seed
Sectors
SaaS, Fintech and insurtech, Health and biotech, Deeptech and hardware, AI and machine learning

Their thesis, in full

Canadian B2B seed fund, operator and GTM-led. Born from a partnership with Centech (ETS) in 2021 (Fund I, $26M initial close, then over $38M, deep tech), Boreal pivoted with Fund II ($60M target, $43M first close, March 2026) away from scientific and R&D risk toward hands-on commercialization, helping founders go from product-market fit to a predictable revenue engine. Invests at seed across Canada with a Quebec focus, in vertical SaaS and AI, industrial tech, fintech and digital health. Co-led by David Charbonneau and former Lightspeed president JD Saint-Martin.

What they bring past the cheque

  • Hands-on go-to-market support
  • Pipeline generation and pricing
  • Sales compensation and revenue team hiring
  • Founder-led sales to repeatable growth
  • Guild of 30+ operators and revenue leaders

Questions they usually ask

Have an answer ready for each one before the first call.

  1. How will you move from founder-led sales to a repeatable, predictable revenue engine?
  2. How do you generate pipeline today, and how are your pricing and sales compensation designed?
  3. Which revenue team hires do you need next to scale beyond product-market fit?

Follow-on

Fund II launched in 2026 targets $60M ($43M first close) and aims to back 15 companies. Boreal syndicates rounds with co-investors such as BDC Capital, BKR Capital, Brightspark Ventures and AQC Capital.

Who to talk to

Portfolio

Names they back, most notable first.

  • FLiiP2025
  • SmartD2023
  • Femtum2023
  • Kento2023
  • Flojoy2023
  • Ditch2021
  • Eaigle2026
  • Pricepoint2026
  • SketchDeck2026
  • Paraito2025
  • Sami Agtech2025
  • Can-Explore2025
  • Trustii2024
  • Burai2023
  • Palisade2023
  • Haleo2022
  • Puzzle Medical Devices2021

Often in the same rounds

Investors seen alongside them in past rounds.

Similar investors

Overlapping sectors and stages. Useful to build a list of 10 to 20 names for one round.

See how they fit your round

Set your stage, sector and amount once. Fractal App tells you if Boreal Ventures can lead it, tracks every follow-up, and counts the days of silence. Free, no card.

Open in the app →

Checked October 2026 from public sources. source ↗ · Website ↗ · LinkedIn ↗