Tech-active · Toronto, ON

N49P

Toronto pre-seed and seed, community-led.

← Investors in Ontario
Cheque
$680k to $1M
Role
Can lead a round
Pace
Deploying heavily
Kind
Tech-active
Based in
Toronto, ON
Vehicle size
$34M
Founded
2018
Works in
EN
Last deal seen
May 2026
Stages
Pre-seed, Seed
Sectors
SaaS, AI and machine learning, Fintech and insurtech, Health and biotech, Developer tools and infrastructure, Cybersecurity, Marketplaces and consumer

Their thesis, in full

N49P is a Toronto-based venture capital firm founded in 2018 that partners with Canadian founders at pre-seed and seed stages. Typical cheque is $500K to $750K USD. More than 90 companies backed to date, all at the pre-seed stage. Fund IV held a US$25 million first close in May 2026 toward a US$70 million target. Three partners and one venture partner, with Northleaf Capital Partners and Inovia's Discovery Fund among the backers. Sector-broad across enterprise applications, high tech, fintech and consumer.

What they bring past the cheque

  • Portfolio depth of 90-plus companies
  • Pre-seed conviction
  • Northleaf and Inovia Discovery Fund backing
  • Toronto founder community access
  • Multi-sector mandate

Questions they usually ask

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

  1. Why are you raising a pre-seed in Canada rather than going straight to a US fund?
  2. How does your business plug into N49P's existing 90-plus company community?
  3. What does a $500K to $750K USD check unlock specifically over the next 18 months?

Follow-on

N49P holds reserves for selective pro-rata and reinvests in its own winners, as it did in Mave's $5M round alongside Staircase Ventures, Relay Ventures and Alate Partners, and in Dessn's $6M round led by Connect Ventures. Expect continued support and warm introductions to institutional leads, not lead follow-on cheques.

Who to talk to

Portfolio

Names they back, most notable first.

  • MavePre-seed · 2026
  • BackboardPre-seed · 2026
  • RemitianPre-seed · 2026
  • HyperComplyPre-seed
  • ManevaPre-seed
  • EvenUpPre-seed
  • SpellbookPre-seed
  • QuandriPre-seed

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 N49P can lead it, tracks every follow-up, and counts the days of silence. Free, no card.

Open in the app →

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