Inovia Capital Secures $200M First Close for AI-Focused Sixth Venture Fund
aiinsider ·
Montreal-based Inovia Capital has secured a $200 million first close for its sixth venture capital fund, which is specifically focused on artificial intelligence. The firm plans to deploy this capital over a three-year period by investing in between 25 and 30 startups located across North America and Europe. Investments will target sectors where AI adoption is emerging but capable of delivering significant economic impact, such as cybersecurity, health technology, and computing infrastructure. Inovia is prepared to write checks ranging from $1 million to $10 million, including opportunities for pre-revenue companies. Major backers supporting this fund include La Caisse, the Business Development Bank of Canada, Investissement Québec, Teralys, the Fonds de solidarité FTQ, CIBC, and Fondaction. This strategic move reflects a broader shift in investor attention toward AI, with data showing that AI-native startups accounted for 40% of software deal value in Canada in 2025. Although Fund VI is smaller than the previous $325 million fund closed in 2022, it distinguishes itself by backing younger companies rather than providing growth-stage capital.
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