Venture capital firm
Inovia portfolio
inovia.vcInovia is a venture capital firm based in Montreal, Canada, founded in 2007. It has invested in 120 venture-backed companies across 159 funding rounds on VCMC, and led 60 of those rounds. 15 of them were in the last 12 months.
120
Venture-backed companies
in its portfolio on VCMC
159
Funding rounds
led 60
15
Last 12 months
rounds, Oct 2025 to Sep 2026
15
With a disclosed valuation
of 120 companies
$70.8B
Combined value of its private companies
the whole companies, not what Inovia owns
116 private companies Inovia has backed have a VCMC valuation; together they are worth $70.8B. That is the value of the whole companies, not what Inovia owns. Polymarket is 30% of the total. 4 companies it backed have since been acquired and are not included. How VCMC values companies.
Values cover private companies only; public companies are not included.
Portfolio
Inovia's most valuable portfolio companies
The 10 most valuable private companies Inovia has backed, by VCMC's valuation. Values cover private companies only; public companies are not included.
- 1 Polymarket Cryptocurrency, New York $21.4B range $18.3B – $26.6B Joined at Seed, 2020
- 2 Wealthsimple Investment Consultants & Financial Advisors, Toronto $8.5B range $6.2B – $9.8B Joined at Growth, 2021
- 3 Cohere Tech Companies, Toronto $8.4B range $6.1B – $9.7B Led at Series C, 2023
- 4 Neo Financial Financial Services, Calgary $3.8B range $1.8B – $5.8B Joined at Series B, 2021
- 5 AlayaCare Tech Companies $2.6B range $624M – $3.8B Led at Series B, 2018
- 6 Tech Companies, Coquitlam $1.9B range $1.3B – $3.3B Joined at Growth, 2023
- 7 Fractile Tech Companies, Thatcham $1.9B range $1.1B – $3.4B Joined at Seed, 2024
- 8 Payment Processing & Point of Sale, New York $1.8B range $1.2B – $3.0B Led at Series B, 2012
- 9 AppDirect Tech Companies, San Francisco $1.5B range $193M – $2.1B Led at Series A, 2012
- 10 Tech Companies, Ghent $1.5B range $869M – $2.0B Joined at Seed, 2023
Portfolio
Full Inovia portfolio (120 companies)
120 companies. Load more shows the rest.
| # | Last round | History | Range | Trend | Grade | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Polymarket Cryptocurrency · since Seed, 2020 | Growth Equity Aug 2026 $1.00B | $21.4B | $18.3B – $26.6B | $23.1B (+8%) | $2.1B | 0% | 342 | growing | A | |
| 2 | Cohere Tech Companies · led at Series C, 2023 | Growth Equity Sep 2025 $100M | $8.4B | $6.1B – $9.7B | $8.4B (0%) | $757M | 0% | 1,218 | growing | A | |
| 3 | Wealthsimple Investment Consultants & Financial Advisors · since Growth, 2021 | Growth Equity Oct 2025 $540M | $8.5B | $6.2B – $9.8B | $8.5B (0%) | $763M | 0% | 2,493 | growing | A | |
| 4 | Clearco Loans & Financing · led at Series B, 2019 | Debt Aug 2026 $100M | $336M | $113M – $1.4B | $231M (-31%) | $101M | 84% | 143 | down | D | |
| 5 | Hopper Travel Agencies · since Series F, 2021 | Growth Equity Nov 2022 $96M | $1.2B | $576M – $4.6B | $925M (-23%) | $466M | 89% | 1,061 | down | D | |
| 6 | Neo Financial Financial Services · since Series B, 2021 | Series D Nov 2024 $258M | $3.8B | $1.8B – $5.8B | $3.6B (-6%) | $460M | 19% | 998 | up | B | |
| 7 | AppDirect Tech Companies · led at Series A, 2012 | Debt Jan 2021 $43M | $1.5B | $193M – $2.1B | $1.5B (-5%) | $251M | 7% | 1,186 | up | D | |
| 8 | Fractile Tech Companies · since Seed, 2024 | Series B May 2026 $220M | $1.9B | $1.1B – $3.4B | $2.4B (+31%) | $291M | 0% | 135 | growing | B | |
| 9 | AlayaCare Tech Companies · led at Series B, 2018 | Series D May 2024 $165M | $2.6B | $624M – $3.8B | $2.0B (-23%) | $297M | 8% | 630 | flat | C | |
| 10 | Spatial Tech Companies · led at Seed, 2018 | Series B Dec 2021 $25M | $128M | $12.5M – $299M | $120M (-6%) | $31.1M | 28% | 60 | flat | D | |
| 11 | Tech Companies · since Seed, 2018 | Series B Oct 2021 $22M | $112M | $10.6M – $222M | $107M (-4%) | $20.6M | 18% | 55 | up | D | |
| 12 | Tech Companies · since Series A, 2023 | Series B Jun 2024 $21M | $266M | $134M – $377M | $225M (-15%) | $29.2M | 0% | 86 | growing | B | |
| 13 | Tech Companies · since Series A, 2022 | Series A Apr 2022 $24M | $146M | $11.0M – $253M | $144M (-1%) | $25.5M | 0% | 37 | up | D | |
| 14 | Tech Companies · led at Series A, 2024 | Series A Nov 2024 $16M | $177M | $39.4M – $252M | $177M (0%) | $24.8M | 0% | 36 | flat | C | |
| 15 | Tech Companies · since Seed, 2021 | Series A Jul 2024 $13M | $43.3M | $20.2M – $90.7M | $32.9M (-24%) | $15.3M | 97% | 27 | shrinking | C | |
| 16 | Tech Companies · since Seed, 2023 | Series A Mar 2026 $13M | $88.4M | $52.5M – $139M | $90.3M (+2%) | $18.8M | 54% | 81 | up | B | |
| 17 | Tech Companies · led at Series A, 2021 | Series A Apr 2021 $18M | $111M | $4.06M – $266M | $111M (0%) | $24.5M | 0% | 2 | unknown | D | |
| 18 | Tech Companies · led at Series A, 2021 | Series A Apr 2021 $17M | $46.7M | $6.77M – $244M | $43.7M (-6%) | $26.0M | 68% | 47 | down | D | |
| 19 | Tech Companies · since Seed, 2019 | Other Oct 2021 $8.5M | $9.86M | $1.64M – $61.2M | $9.57M (-3%) | $9.00M | 70% | 95 | flat | D | |
| 20 | Public Relations Agencies · since Series B, 2014 | Series B Jun 2014 $17M | $47.2M | $5.18M – $154M | $47.2M (0%) | $20.0M | 29% | 10 | flat | D | |
| 21 | Tech Companies · led at Series A, 2026 | Series A Sep 2026 $15M | $90.2M | $56.2M – $234M | $154M (+71%) | $21.6M | 0% | 12 | flat | C | |
| 22 | Tech Companies · since Series A, 2022 | Series A Mar 2022 $15M | $20.8M | $6.43M – $173M | $19.2M (-7%) | $22.5M | 97% | 26 | down | D | |
| 23 | Tech Companies · since Series A, 2025 | Series A Sep 2025 $13M | $144M | $53.2M – $219M | $144M (0%) | $22.0M | 0% | 33 | growing | C | |
| 24 | Tech Companies · led at Seed, 2022 | Seed Dec 2022 $10M | $8.88M | $4.74M – $20.9M | $6.92M (-22%) | $14.9M | 97% | 8 | shrinking | C | |
| 25 | Tech Companies · since Pre-seed, 2019 | Seed Sep 2022 $6.4M | $4.55M | $2.23M – $13.5M | $3.11M (-32%) | $7.97M | 97% | 5 | shrinking | C | |
| 26 | Tech Companies · led at Seed, 2022 | Seed Apr 2022 $10.0M | $86.6M | $3.84M – $154M | $81.7M (-6%) | $20.0M | 0% | 36 | flat | D | |
| 27 | Tech Companies · led at Seed, 2026 | Seed Jul 2026 $4.1M | $33.0M | $18.8M – $86.9M | $57.1M (+73%) | $10.3M | 0% | 39 | up | C | |
| 28 | Tech Companies · led at Seed, 2017 | Series A Oct 2017 $8.7M | $68.8M | $2.69M – $118M | $68.8M (0%) | $11.6M | 0% | 5 | unknown | D | |
| 29 | Tech Companies · led at Seed, 2025 | Seed Mar 2025 $7.8M | $116M | $39.4M – $177M | $116M (0%) | $20.9M | 0% | 15 | growing | C | |
| 30 | Investment Consultants & Financial Advisors · led at Pre-seed, 2023 | Seed May 2024 $5.0M | $63.9M | $9.45M – $90.7M | $63.9M (0%) | $11.5M | 0% | 1 | unknown | D | |
| 31 | Tech Companies · since Seed, 2020 | Seed Nov 2020 $7.5M | $82.8M | $2.72M – $152M | $82.8M (0%) | $18.0M | 0% | 29 | unknown | D | |
| 32 | Tech Companies · since Pre-seed, 2024 | Seed Mar 2025 $5.4M | $55.2M | $13.7M – $78.3M | $55.2M (0%) | $10.8M | 0% | 32 | flat | C | |
| 33 | Tech Companies · since Seed, 2021 | Seed Sep 2021 $7.0M | $46.2M | $3.66M – $100M | $45.8M (-1%) | $14.0M | 20% | 43 | up | D | |
| 34 | Tech Companies · since Seed, 2022 | Series A Jun 2024 $3.5M | $36.5M | $6.68M – $53.0M | $34.9M (-4%) | $5.26M | 3% | 39 | flat | D | |
| 35 | Tech Companies · since Seed, 2024 | Seed Jun 2024 $5.0M | $0.29M | $0 – $0.29M | $0.29M (0%) | – | 100% | 14 | shrinking | dead | |
| 36 | Tech Companies · since Seed, 2023 | Seed Oct 2023 $4.4M | $14.8M | $4.21M – $48.4M | $11.8M (-21%) | $9.47M | 70% | 14 | unknown | D | |
| 37 | Tech Companies · led at Seed, 2025 | Seed Apr 2025 $4.0M | $53.3M | $12.7M – $81.2M | $53.3M (0%) | $9.60M | 0% | 28 | unknown | C | |
| 38 | Tech Companies · since Seed, 2026 | Seed Apr 2026 $3.6M | $34.0M | $17.4M – $80.8M | $53.1M (+56%) | $10.4M | 0% | 9 | unknown | C | |
| 39 | Tech Companies · since Seed, 2025 | Seed Apr 2025 $2.5M | $29.8M | $10.7M – $47.1M | $28.3M (-5%) | $6.45M | 11% | 43 | growing | C | |
| 40 | Tech Companies · since Pre-seed, 2025 | Pre-Seed Jul 2025 $2.2M | $39.1M | $13.0M – $59.5M | $39.1M (0%) | $7.67M | 0% | 16 | growing | C | |
| 41 | Video and Audio Production · since Seed, 2018 | Seed Jan 2018 $1.7M | $6.09M | $0.74M – $30.4M | $5.96M (-2%) | $4.08M | 59% | 9 | down | D | |
| 42 | Tech Companies · led at Growth, 2024 | Growth Equity Jul 2024 | $734M | $217M – $2.0B | $542M (-26%) | $93.9M | 58% | 19 | flat | D | |
| 43 | Tech Companies · since Series F, 2024 | Series F Apr 2024 $130M | $1.3B | $335M – $1.5B | $1.0B (-20%) | $139M | 0% | 816 | flat | C | |
| 44 | Tech Companies · since Series B, 2014 | Acquisition Feb 2026 | $500M acquired 2026 | $328M – $762M | – | – | 97% | 235 | down | B | |
| 45 | Tech Companies · since Growth, 2023 | Series D Aug 2026 $131M | $1.9B | $1.3B – $3.3B | $2.3B (+24%) | $256M | 0% | 206 | up | B | |
| 46 | Clothing Stores · led at Series B, 2021 | Series D Jul 2026 $65M | $1.3B | $1.0B – $1.9B | $1.6B (+23%) | $194M | 0% | 1,261 | growing | A | |
| 47 | Tech Companies · led at Series A, 2012 | Series E Feb 2021 $130M | $424M | $40.3M – $582M | $419M (-1%) | $71.2M | 6% | 472 | flat | D | |
| 48 | Payment Processing & Point of Sale · led at Series C, 2026 | Series C Jun 2026 $60M | $423M | $335M – $583M | $507M (+20%) | $55.7M | 0% | 201 | up | A | |
| 49 | Payment Processing & Point of Sale · led at Series B, 2012 | Growth Equity Jul 2026 $160M | $1.8B | $1.2B – $3.0B | $2.0B (+8%) | $176M | 0% | 86 | unknown | B | |
| 50 | Tech Companies · led at Series B, 2020 | Series D May 2023 $70M | $198M | $103M – $577M | $146M (-26%) | $89.9M | 97% | 196 | shrinking | C |
Valuation: VCMC's valuation with its range, from a low to a high scenario; a company with no valuation shows a dash, one acquired after its last round its last value as a private company.
Activity
How Inovia invests: stages, industries and countries
Most of its rounds are seed (31%). Its companies span 25 industries, most in Tech Companies, Software Development Services and Payment Processing & Point of Sale, across 15 countries.
Rounds by stage
- Pre-seed 8
- Seed 50
- Series A 36
- Series B 35
- Series C and later 30
Investments by industry
- Tech Companies 79
- Software Development Services 8
- Payment Processing & Point of Sale 4
- Accounting & Bookkeeping Services 3
- Biotechnology 2
- Industrial Machinery & Supplies 2
- Investment Consultants & Financial Advisors 2
- Loans & Financing 2
Investments by country
- Canada 54
- United States 42
- United Kingdom 6
- France 4
- Germany 3
- Belgium 2
Recent rounds
Inovia's latest investments
Inovia's most recent funding rounds, newest first. 15 rounds in the last 12 months.
- Series A, led $15M 21 Sep 2026
- Series B $33M 15 Sep 2026
- Seed, led $4.1M 22 Jul 2026
- Pre-seed, led $1.9M 7 Jul 2026
- Seed $11M 6 Jul 2026
- Seed $4.5M 25 Jun 2026
- Series C, led $60M 24 Jun 2026
- Seed $2.3M 28 May 2026
- Series B $40M 12 May 2026
- Seed $3.6M 28 Apr 2026
Co-investors
Inovia's top co-investors
The investors that most often join the same rounds as Inovia. Golden Ventures leads, with 15 rounds together.
- 15 rounds together
- 8 rounds together
- 6 rounds together
- Y Combinator 6 rounds together
- 6 rounds together
- 6 rounds together
- Felicis 6 rounds together
- 6 rounds together
- 5 rounds together
- 5 rounds together
About
About Inovia
inovia capital Inc. is a Canadian venture capital firm that provides capital, mentorship, and operational support to founders in emerging technologies, with a focus on generative AI. The company operates in multiple locations, including Montreal, Toronto, Waterloo, Calgary, and London, and maintains a presence in the EU and the UAE. Inovia also manages the Venture Scientist Fund with Mila and is involved in sustainability and social responsibility initiatives.
Description from Veridion's company data.
- Founded
- 2007
- Based in
- Montreal, Canada
- Team
- 105 people, -1% in a year
- Type
- Venture capital firm
Focus markets
- Technology
What Inovia offers
- Venture Capital Investment Services
- Generative AI Sector Investment Services
- Startup Seed Stage Investment Services
- Early-Stage Technology Company Investment Services
- Mentorship and Advisory Services
- Portfolio Company Growth Support Services
- Operator-Led Portfolio Management Services
- Sustainable Technology Investment Services
Questions
Inovia: frequently asked questions
How many companies has Inovia invested in?
120 venture-backed companies on VCMC, across 159 funding rounds.
What are Inovia's most valuable private companies?
Polymarket ($21.4B), Wealthsimple ($8.5B), Cohere ($8.4B), by VCMC's valuation.
What was Inovia's latest investment?
Feldera, a Series A round in Sep 2026 of $15M, which Inovia led.
Which stages does Inovia invest in?
Inovia invests most often at seed (50 rounds), followed by Series A (36) and Series B (35). It has also joined 30 Series C and later and 8 pre-seed rounds.
What is Inovia's portfolio worth?
Its private companies with a VCMC valuation are worth $70.8B together. That is the sum of the companies' values, not what Inovia owns.
Who does Inovia invest alongside?
Golden Ventures (15 rounds), Uncork Capital (8 rounds), Investissement Québec (6 rounds).