Key Takeaways
- • Montreal-based Inovia has closed a first close of US$200 million for its sixth venture capital fund, according to The Logic.
- • The firm's fifth venture fund topped out at US$325 million, and the new fund will be deployed over three years into 25 to 30 startups.
- • Inovia is targeting sectors where artificial intelligence is in early adoption but mature enough to generate economic impact.
- • Named investors include La Caisse, Business Development Bank of Canada (BDC), Investissement Québec, Teralys, Fonds de solidarité FTQ, CIBC and Fondaction.
- • The fund is denominated in U.S. dollars to attract global teams, and Inovia will write checks of US$1 million to US$10 million for pre-revenue companies.
Summary
Inovia, a Montreal venture capital firm, has raised US$200 million as a first close for its sixth venture capital fund, according to The Logic and La Presse. The fund will back companies both in Canada and abroad. The reported investor group includes La Caisse, the Business Development Bank of Canada (BDC), Investissement Québec, Teralys, the Fonds de solidarité FTQ, CIBC and Fondaction.
The first close is smaller than the firm's prior vehicle. Inovia's fifth venture fund reached a final size of US$325 million. Partner Magaly Charbonneau told La Presse that the firm plans to deploy the new capital over three years, targeting 25 to 30 startups.
Inovia is concentrating on sectors where artificial intelligence is in the early stages of adoption but has matured enough to produce measurable economic impact, a focus the firm frames as central to its strategy. The source notes that Canadian venture investment rose in the first half of 2026 on increased interest from foreign backers, although activity was concentrated in a small number of large transactions.
Charbonneau said Inovia structured the fund in U.S. dollars to appeal to global teams. The firm is also prepared to write smaller checks, between US$1 million and US$10 million, for pre-revenue companies.
The first close is smaller than the firm's prior vehicle. Inovia's fifth venture fund reached a final size of US$325 million. Partner Magaly Charbonneau told La Presse that the firm plans to deploy the new capital over three years, targeting 25 to 30 startups.
Inovia is concentrating on sectors where artificial intelligence is in the early stages of adoption but has matured enough to produce measurable economic impact, a focus the firm frames as central to its strategy. The source notes that Canadian venture investment rose in the first half of 2026 on increased interest from foreign backers, although activity was concentrated in a small number of large transactions.
Charbonneau said Inovia structured the fund in U.S. dollars to appeal to global teams. The firm is also prepared to write smaller checks, between US$1 million and US$10 million, for pre-revenue companies.
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