🦊/Investors

Cycle Capital

Venture capital

Montreal · Seed–Late Stage · 8 people tracked

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Investment thesis

Operates proprietary climate-investing infrastructure across Montreal, Toronto, Qingdao, New York and Seattle, targets green-electron and circular-molecules tech, ties manager pay to SFDR Article 9 impact, partners with industrials.

Stage
Seed–Late Stage
HQ
Montreal, ON, CA
Leads rounds
Follows
Instruments
Equity
Founded
2009
Last 12 months
1 investment
AUM
$518M
Tracked investments
48

Team · 8 people

from curated

What they invest in

from 42 of 48 portfolio companies

Cleantech ×29New Materials ×16Hardware ×15Circular Economy ×12Energy ×11Climate Tech ×9Deep Tech ×8Advanced Manufacturing ×7

HQs:Canada×20United States×12Belgium×1Switzerland×1Germany×1European Union×1

Investments · 48 tracked

founders shown can be your intro path

By year:2026 · 12025 · 12024 · 12023 · 12022 · 22020 · 22019 · 19 dated

Airex Energyairex-energy.comin✓ verified

Airex Energy develops torrefaction and carbonization systems that convert biomass residues into biocoal and biocarbon for industrial applications requiring renewable fuel and heat sources.

Circular EconomyCleantechClimate TechEnergy

Guy Prud'homme(Co-Founder and Chief Technology Officer)Michel Gagnon(Chief Executive Officer)

Co-investorsFonds de solidarité FTQ

Eocycleeocycle.comin✓ verified

Eocycle develops distributed renewable energy solutions, including wind turbines and integrated wind-solar-storage systems for industrial and commercial customers.

CleantechClimate TechEnergyMontreal, CA

Richard Legault(President and CEO)in

Co-investorsAngels of Many

Powersidepowerside.comin✓ verified

Powerside develops power quality monitoring and correction solutions for industries including healthcare, semiconductors, and renewable energy.

CleantechCloud ComputingEnergyEnterprise SoftwareHardwareIoTAlameda, US

Ross E. Dueber(CEO)in

Co-investorsEnerTech CapitalBDC Venture Capital

Prevu3Dprevu3d.cominFeb 2023 · $10M✓ verified

Prevu3D develops digital twin software that turns 3D scan and reality-capture data (point clouds and meshes) into visual, as-built representations of facilities for engineering, maintenance, and operational use.

Advanced ManufacturingCloud ComputingConstruction TechDeep TechEnterprise SoftwareSaaSMontreal, CA

Nicolas Morency(Founder)in

Co-investorsMcRock CapitalDesjardins CapitalBrightspark Ventures

Agrisoma BioSciences Inc.agrisoma.com

Agrisoma develops engineered crop varieties, particularly oilseeds like carinata and canola, designed to increase yields and oil content for sustainable biofuel production.

AgTechCleantechClimate TechEnergy

Co-investorsBDC Fund Investments (Fund-of-Funds)BDC Venture CapitalRBC Capital

AON3Daon3d.comin𝕏Jan 2026

AON3D develops additive manufacturing hardware, software, and materials for industrial 3D printing applications.

Advanced ManufacturingAI & Machine LearningDeep TechHardwareRoboticsMontreal, CA

Kevin Han(Founder/CPO)inRandeep Singh(Founder)inAndrew Walker(Founder)in

Co-investorsAlleyCorpFlucas VenturesInnoStart CapitalIronGate Capital AdvisorsPanache VenturesPrototype Capital+9 more

Aplantexaplantex.cain

Aplantex operates a modular green biotechnology platform that uses proprietary photosynthetic "phytoreplicators" to locally produce plant biomass and extract active plant compounds such as polyphenols with antioxidant, anti-inflammatory, antimicrobial and anti-aging properties.

AgTechBiotechNew Materials

Co-investorsCircular Innovation Fund

Aqua Membranesaquamembranes.comin𝕏

Aqua Membranes makes precision-printed elements for industrial reverse osmosis (RO) systems, designed to increase production, lower energy costs, reduce cleaning cycles, and improve recovery without retrofits.

Advanced ManufacturingCleantechHardwareNew MaterialsAlbuquerque, US

Rodney Herrington(Founder)inCraig Beckman(CEO)inChristopher Kurth(Chief Technology Officer)inRick Sanders(Director)Michael Reardon(Director)Stuart Schoenmann(Director)

Co-investorsBURNT ISLAND VENTURESClean Energy VentureClean Energy VenturesHelios Climate VenturesNovaCapitalMicron Ventures

Bioalertbioalert.ca

BioAlert Solutions develops qPCR-based monitoring systems for detecting Legionella in cooling towers and water systems across North America.

BiotechHardwareHealthtechIoTMedical DevicesToronto, CA

Etienne Lemieux(President - CEO - Founder)inDominic Carrier(Vice President - Founder)in

Co-investorsGreenSky Ventures

Bluefootmembranesbluefootmembranes.comin

Bluefootmembranes designs and manufactures packaged water treatment systems that enable rapid installation and operation with minimal site construction.

Advanced ManufacturingCleantechHardwareNew Materials

Co-investorsCircular Innovation Fund

Blumindblumind.aiin𝕏Apr 2025 · $20M

Blumind is a Canadian deep-tech startup developing all-analog AI neural network architectures for energy-efficient edge AI computing.

AI & Machine LearningDeep TechHardwareSemiconductors

Niraj Mathur(Founder)in

Co-investorsACME CapitalBDC Sustainability Venture FundCreative Destruction Lab (CDL)FusionTwo Small Fish VenturesBDC Capital Corporation+1 more

Concentricagconcentricag.comin𝕏

Concentric AG produces microbial biological crop inputs that enhance plant vigor, soil health, and harvest yield while helping plants resist environmental stress and disease.

AgTechBiotechClimate TechCentennial, US

Co-investorsAliment CapitalPontifax AgTech

dimporadimpora.com

dimpora develops PFAS-free, solvent-free textile membranes that make fabrics waterproof and breathable while being designed for recyclability and circularity.

Circular EconomyCleantechNew Materials

Co-investorsCircular Innovation FundGOLDWIN VENTURE PARTNERSSafer MadeClosed Loop Partners

Ecofiltertekecofiltertek.comin

Ecofilter Tek develops proprietary charge-switching polymer technology for filtration applications, addressing gaps in traditional filtration methods with more efficient and sustainable solutions.

CleantechDeep TechNew MaterialsSherbrooke, CA

Farhad Farnia(Chief Executive Officer & Co-Founder)Yue Zhao(Chief Scientific Officer & Co-Founder)

Enerkemenerkem.cominApr 2022 · $255M

Enerkem converts non-recyclable waste and biomass residues into biofuels and chemicals using gasification and syngas conditioning technology.

Circular EconomyCleantechClimate TechEnergyNew MaterialsMontreal, CA

Esteban Chornet(Founder, Professor Emeritus at Université de Sherbrooke)inVincent Chornet(Co-founder)

Co-investorsBraemar Energy VenturesRho VenturesFondactionFonds de solidarité FTQMonarch Alternative CapitalThe Westly Group

Essincessinc.comin𝕏

ESS Tech, Inc. builds iron flow battery systems for long-duration energy storage, offering up to 22 hours of storage to provide baseload power for grids, AI data centers, and communities.

CleantechEnergyHardware

Craig Evans(Founder)in

Co-investorsBreakthrough Energy VenturesSand Hill Angels

Evocoltdevocoltd.comin𝕏

Evoco develops plant-based technology platforms to produce high-performance bio-materials including bio-foams, bio-leathers, and bio-TPU, serving consumer and industrial product manufacturers aiming to reduce fossil fuel dependence.

Circular EconomyCleantechClimate TechNew MaterialsToronto, CA

Jason RobinsoninNatalie AshdowninAlexandros Vasileiou

Co-investorsCircular Innovation Fund

Fibracastfibracast.comin

Fibracast is a membrane technology company that designs and manufactures immersed membrane bioreactor (MBR) systems for municipal, industrial, and commercial wastewater treatment.

Advanced ManufacturingCleantechClimate TechHardwareHamilton, CA

GreenMantra Technologiesgreenmantra.comin𝕏

GreenMantra Technologies transforms plastic waste into high-performance materials through molecular recycling technology, breaking down post-consumer polypropylene and polyethylene for use in commercial applications and circular economy solutions.

Circular EconomyCleantechNew MaterialsToronto, CA

Co-investorsArcTern VenturesInnovative Solutions CanadaClosed Loop Partners

Lefebvre Allefebvre-al.com

Lefebvre Industri-AL provides services to the aluminum industry, specializing in the management of alloying elements and the recycling of residues from aluminum production.

Circular EconomyCleantechNew Materials

Joanne Lefebvre(CEO (PDG))

Co-investorsCircular Innovation Fund

Liveablecitiesliveablecities.comin𝕏

Liveable Cities provides smart city infrastructure including LED streetlights, wireless network controllers, and sensor systems paired with software to collect and analyze urban data.

CleantechGovTechHardwareIoTHalifax, CA

Local Logiclocallogic.coin𝕏Nov 2020 · $6.1M

Local Logic offers a platform that supports the home consumer journey for real estate, spanning attracting website traffic, closing deals, and driving renewals.

AI & Machine LearningData & InfrastructurePropTechSaaSMontréal, CA

Vincent-Charles Hodder(Co-Founder & CEO)inAlexandre Pagé(Founder)inGabriel Damant-Sirois(Co-Founder & CPO)inColin Stewart(Co-Founder)in

Co-investors500 GlobalGroundBreak VenturesShadow VenturesBDC Capital CorporationDesjardins CapitalSecond Century Ventures

Lufalufa.com

Lufa Farms operates a network of rooftop greenhouses across Quebec and Ottawa that grow and distribute fresh vegetables directly to consumers.

AgTechB2B MarketplacesE-commerceFoodTechMontreal, CA

Co-investorsAngels of ManyBoxOne Ventures

MacroCyclemacrocycle.techin

MacroCycle uses a proprietary chemical process called SolvoGenesis, based on solvent systems and macrocyclic chemistry, to convert textile waste into pure polyester resin at low cost.

Circular EconomyCleantechNew MaterialsCambridge, US

Stwart Peña Feliz(Executive Officer, Director)inJan-Georg Rosenboom(Executive Officer, Director)in

BoardCatia Cesari(Director)Temple Fennell(Director)in

Co-investorsCircular Innovation FundNeotribe VenturesVolta CircleClean Energy VentureClean Energy VenturesKdT Ventures

MineSenseminesense.comin𝕏Dec 2022 · $42M

MineSense builds sensor-based hardware and software for the mining industry, applying real-time ore-grade sensing and data analytics to mining and processing operations.

AI & Machine LearningCleantechHardwareVancouver, CA

Andrew Bamber(Executive Officer, Director)inJeff More(Executive Officer, Director)inFadi Kanafani(Executive Officer)inAlan Bradford(Executive Officer)inLisa Payne(Executive Officer)inJohn Slaven(Chief Executive Officer)in

Co-investorsChrysalixPrelude VenturesBDC Industrial Innovation Venture FundEvok InnovationsExport Development Canada (EDC)J.P. Morgan Asset Management+1 more

Mysa by Empowered Homesgetmysa.com𝕏

Mysa makes smart thermostats for high-voltage electric heating systems such as electric baseboard, fan-forced in-wall, hydronic baseboard, and in-ceiling radiant heaters, offered in energy-monitoring and lower-priced LITE models.

EnergyHardwareIoT

Co-investorsClimate Innovation CapitalKillick Capital

Nanomoxnanomox.netin𝕏

Nanomox develops advanced materials and thin films, such as metal oxide particles ranging from nano to macro scale, using fine control of particle properties for a range of applications.

CleantechDeep TechNew MaterialsLondon, GB

Francisco Malaret(Founder)in

Co-investorsCircular Innovation FundTSP Ventures

Novobiomnovobiom.comin

Novobiom develops fungi-based biotechnology solutions for soil remediation, waste management, and sustainable production.

AI & Machine LearningBiotechCircular EconomyCleantechClimate TechWillebroek, BE

Jean-Michel ScheureninAurélie Espérandieuin

Co-investorsCircular Innovation Fund

P2 Science, Incp2science.cominOct 2019

P2 Science develops green chemistry platform technologies (including its PIOz ozonolysis and PICE polymerization processes) that convert renewable, plant-based oils into functional intermediates, specialty ingredients, and polymers.

BiotechCircular EconomyCleantechNew MaterialsWoodbridge, US

Paul Anastas(Co-founder)Patrick Foley(Co-founder & President)inNeil A. Burns(Executive Officer, Director)Oihana Elizalde(Chief Executive Officer)inBrian Chan(Chief Financial Officer)inKevin Gallagher(Director)

Co-investorsXeraya CapitalCircular Innovation FundConnecticut InnovationsEmerald Technology Ventures AgHG VenturesSafer Made+1 more

pH7 Technologiesph7technologies.comin

pH7 Technologies develops a proprietary electrochemical closed-loop process for extracting critical metals and minerals — including platinum group metals, gold, copper, and tin — from primary and secondary resources with lower energy, water, and environmental impact.

Circular EconomyCleantechClimate TechNew MaterialsVancouver, CA

Mohammad Doostmohammadi(Founder & CEO)in

Co-investorsPangaea VenturesTDK VenturesBreakwater VenturesCircular Innovation FundCollaborative FundEnergy & Environment Investment+6 more

Phycusphycusbio.com

Phycus Bio produces Purolic Acid™, a biobased glycolic acid made through fermentation using renewable, FSC-certified wood feedstock for cosmetic, personal care, adhesive, coating, and polymer applications.

BiotechCleantechNew Materials

Co-investorsCircular Innovation FundToronto Innovation Acceleration PartnersNatural Products Canada

Rhombus Energy Solutionsrhombusenergysolutions.comSep 2020

EnergySan Diego, US

Joseph Gottlieb(Executive Officer, Director)Raphael Diamond(Executive Officer, Director)Richard Sander(Executive Officer, Director)in

BoardBlair Anderson(Director)Lee Burrows(Director)Adam Goldstein(Director)

Co-investorsEmerald Technology Ventures AgGreenhouse Capital PartnersNabtesco Technology Ventures

Sonocharge Energysonochargeenergy.cominJun 2024

Sonocharge develops a piezoacoustic platform technology that improves lithium-ion batteries by enhancing lithium diffusion kinetics, enabling faster charging, longer lifespan, and reduced fire risk.

CleantechDeep TechEnergySan Diego, US

An Huang(Executive Officer, Director)in

Co-investorsHonda Innovations Silicon ValleyKhosla VenturesTemasek

SPARK Microsystemssparkmicro.comin𝕏

SPARK Microsystems develops ultra-wideband (UWB) wireless connectivity technology for applications including Physical AI, XR, audio, gaming, human interface, and IoT devices.

Deep TechHardwareIoTSemiconductors

Co-investors+ND CapitalSilicon Catalyst

Sparxellsparxell.comin𝕏

Sparxell designs, engineers, and manufactures plant-based colorants using cellulose, including biomimetic pigments, biodegradable glitter, powders, pearls, foils, and specialty shapes such as sequins.

BiotechCircular EconomyCleantechNew Materials

Benjamin Droguet(Founder)in

Co-investorsCircular Innovation FundEarth Venture CapitalGranatus VenturesHigher Ground LabsSWEN Capital Partners

UpSolvpolystyvert.comin

UpSolv (Polystyvert) develops a plastics recycling technology based on dissolution and purification to produce custom purified resins from thermoplastics such as polystyrene, HIPS, ABS, and polyolefins (PE, PP, PC), removing contaminants while retaining additives.

Circular EconomyCleantechNew MaterialsQuébec, CA

Rune Gjessing, CFA(Chef de la direction intérimaire)in

Co-investorsEarth FoundryEnergy Foundry

Vartegavartega.comin𝕏

Advanced ManufacturingCleantechGolden, US

Andrew Maxey(Executive Officer, Director)inAaron Parker(Executive Officer)inDaniel Flagg(Executive Officer)inSean Kline(Executive Officer)inShari Kennett(Director)J. Scott Pusey(Executive Officer)

Co-investorsAutodesk FoundationBeyond CapitalCircular Innovation FundDiamond Edge VenturesHG VenturesNew Climate Ventures+6 more

Vuerealvuereal.comin𝕏

VueReal develops MicroSolid Printing technology for fabricating microLED and micro semiconductor devices, along with a partner ecosystem of tool vendors, material suppliers, and fabrication partners.

Deep TechHardwareSemiconductors

Vutilitivutiliti.comin

Vutility provides hardware devices that monitor energy consumption across commercial and industrial operations, delivering real-time data to help businesses measure, allocate, and optimize power usage.

CleantechEnergyEnterprise SoftwareHardwareIoT

Co-investorsSQN Venture Partners, LLCChevron Technology VenturesConstellation Technology VenturesDamgaard CompanyDawn CapitalSeed Capital Limited

Vutilityvutility.coin

Vutility builds engineered energy monitoring devices that give businesses real-time visibility into power usage across single or multi-tenant sites.

CleantechEnergyHardwareIoTWest Jordan, US

James Archuleta(Executive Officer)inStephen Prince(Executive Officer, Director)Claude Vachet(Director)inCurtis lschickner(Director)Tracy Greenwood(Director)William Benz(Director)

watttron GmbHwatttron.dein

Watttron develops digital heating technologies for industrial packaging and semiconductor manufacturing processes.

Advanced ManufacturingCleantechSemiconductorsDresden, DE

Ronald Claus von Nordheimin

Co-investorsCircular Innovation FundEuropean Circular Bioeconomy FundSIB Innovations- und BeteiligungsgesellschaftSKion

Wespringwespring.comin

SPRiNG is a consumer brand selling perfumed, plant-conscious home cleaning products such as laundry detergent, dishwasher tablets, and bathroom sprays, plus a body-care range, sold direct to households via subscription-style kits.

ConsumerDirect to ConsumerE-commerce

Co-investorsCircular Innovation Fund

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

AirexAmerican AerogelEnergateincGaN SystemsLizeeNovocycle

Portfolio news

latest coverage across their companies

Frequently asked questions

How many investments has Cycle Capital made?
Cycle Capital has 48 tracked investments, including 2 dated in the last 24 months.
What stage does Cycle Capital invest at?
Cycle Capital invests at the Seed, Series A, Series B, Series C, Growth, Late Stage stages.
What sectors does Cycle Capital focus on?
Cycle Capital focuses on AgTech, Cleantech, SaaS.
Where is Cycle Capital located?
Cycle Capital is headquartered in Montreal, CA.
Does Cycle Capital lead rounds?
Cycle Capital typically participates in rounds rather than leading them.

Media · Podcasts & interviews

featuring the team

EVERYTHING about Montreal’s Cleantech Innovation Ecosystem with Catherine Bérubé of Cycle Capital.

TheFutureEconomy.ca · Catherine Bérubé

Andrée-Lise Méthot pitches Cycle Capital Management

Ecosummit · Andrée-Lise Méthot

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