Participated · Equity · Apr 2026

Opalia cultivates mammary cells in bioreactors to produce complete milk—including proteins, fats, and sugars—intended as a drop-in replacement for conventional fluid or powdered milk. The company positions its approach as distinct from precision fermentation by producing whole milk rather than single milk proteins. Opalia targets the global dairy market through a B2B licensing and supply model rather than direct-to-consumer sales. It has signed paid commercial pilot agreements with established dairy players, including Hoogwegt and the Canadian division of a major dairy group, with partnerships across five countries on three continents. Opalia plans to scale a modular bioreactor system using proceeds from the CAD 3.2M seed round and aims for a commercial launch in 2028 while pursuing regulatory approvals in North America, Europe, and Asia.

Participated · Seed · Mar 2026

Founded in 2019, Canada-based Dispersa has developed BioEterna®, a synthetic-biology and precision-fermentation platform that feeds waste oils and sugars to microbes, producing PuraSurf®, the world’s first 100% waste-derived biosurfactant. The ingredient can slot into cleaners, detergents, shampoos, cosmetics and other formulations traditionally reliant on fossil or palm inputs. With facilities in Laval, Québec and biomanufacturing partners in Nova Scotia, the company is nearing 100-tonnes-per-year production capacity and is preparing to fulfill commercial orders across North America. Dispersa’s circular model simultaneously diverts food waste from landfills and lowers the carbon and biodiversity impacts tied to conventional surfactants. The startup has raised more than $13 million CAD to date, enabling its transition from lab proof-of-concept to commercial-scale manufacturing. Seed funding is being deployed to expand production, accelerate customer integrations and advance additional waste-to-chemical product lines.

Participated · Seed · Feb 2026

JetScale AI develops an artificial-intelligence platform that delivers instant diagnostics, prescriptive action plans, and automated remediations to cut cloud spending, improve reliability, and lessen the environmental footprint of over-provisioned resources. By replacing weeks of manual FinOps work with minutes of automated analysis, the product targets enterprises whose cloud bills are surging, especially as AI workloads grow. Initial customer adoption and an oversubscribed seed round validate market demand, and the company plans to accelerate innovation, expand its team, and scale deployment across North America and Europe. Co-founders Mehdi Merai and Gabriel De Lisi previously built and exited machine-learning company Dataperformers, bringing seasoned AI and go-to-market expertise. JetScale AI was co-created with Diagram’s venture studio and is headquartered in Montréal. Financially, the company has secured $5.4 million in seed capital to fund its near-term growth initiatives; no revenue or user metrics were disclosed in the article.

Participated · Equity · Aug 2024

Aplantex develops a proprietary photosynthetic phytoreplicator platform — a plant-based biotechnology process the company says enables high-value production with a lower environmental footprint. The company is moving from a research-focused stage toward scalable, production-oriented operations, including adding an industrial-grade pilot plant at its innovation center. Aplantex reports ongoing R&D projects are on track to meet the needs of its existing national and international clients and is pursuing initiatives to improve process efficiency and reduce selection time for phytoreplicator variants. The company secured a $5 million bridge financing round in 2025 to support that operational transition and scale-up. Investissement Québec has been a principal partner in Aplantex's development and participated in the bridge round through its Impulsion Fund, while François Ravenelle led the financing.

Participated · Equity · Jul 2024

ReliON provides integrated end-to-end O&M solutions for EV charging infrastructure, offering proactive monitoring and diagnostics from problem detection to resolution. Its platform addresses diverse causes of charger outages, including software and hardware faults, vandalism, communication issues, and interoperability problems. The company says 20% to 30% of chargers are inoperable at any given time, underscoring the need for more dependable operations. ReliON will use new capital to further develop its O&M platform and scale operations to meet growing demand for reliable charging solutions. The company positions itself as a trusted partner to optimize uptime and performance across a fragmented EV charging supply chain. ReliON emphasizes leveraging technology, expertise, and partnerships to empower the transition to electric mobility.