Specialist · Montreal, QC
Telegraph Ventures
Enterprise AI at pre-seed and seed in Quebec.
- Cheque
- $500k to $750k
- Role
- Can lead a round
- Pace
- Actively deploying
- Kind
- Specialist
- Based in
- Montreal, QC
- Vehicle size
- $35M
- Founded
- 2024
- Works in
- EN + FR
- Last deal seen
- July 2026
Their thesis, in full
Telegraph Ventures is a Montreal early-stage fund, spun off from European firm Telegraph Hill Capital and led by Heyday founder Etienne Merineau. It backs pre-seed and seed B2B software and applied-AI startups in Quebec, leading rounds from a $35M first close (target $40M).
What they bring past the cheque
- Heyday founder operating playbook
- Enterprise AI go-to-market support
- European Telegraph Hill network
- Lead investor capacity
- B2B software discipline
Questions they usually ask
Have an answer ready for each one before the first call.
- Which enterprise workflow do you automate, and how do you prove ROI to a buyer?
- What is your wedge against incumbent software vendors adding AI features?
- How repeatable is your sales motion beyond founder-led deals?
Follow-on
Telegraph Ventures keeps reserves for follow-on into its enterprise AI leaders and taps the Telegraph Hill network for cross-border Series A syndication. Follow-on hinges on enterprise revenue durability.
Who to talk to
- Etienne MerineauGeneral PartnerLinkedIn ↗
- Luis Gutierrez RoyVenture AdvisorLinkedIn ↗
Portfolio
Names they back, most notable first.
- JetScale AISeed · 2026
- WalawPre-seed · 2026
- GlowtifySeed · 2025
Often in the same rounds
Investors seen alongside them in past rounds.
- Accelia Capital
- Graphite Ventures
- Sprout Fund
- Developer Capital
- BDC Capital
- Diagram Ventures
- Fondaction
- Mavrik
- Cycle Momentum
- Spring Impact Capital
- Investissement Quebec
- Mistral Venture Partners
Similar investors
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