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Mistral Venture Partners

854 Bank St, 201, Ottawa, Ontario, K1S 3W3, Canada

Overview

Seed-stage venture capital firm investing in early-stage tech startups.

Founded

2013

Deals · 12mo

5

Links

WebsiteLinkedInX (Twitter)

Stage focus

Seed
Series A

Geographic focus

Canada
United States

Sector focus

Venture Capital

Investment portfolio

41rounds
NAMEDATESIZE
Thri5
Sep 2026Led
$5 MSeed
Ultimarii
Sep 2026Participated
$9 MSeries A
Walaw
Aug 2026Participated
$1 MSeed
Frugal
Nov 2025Participated
$5 MSeed
Ready Plan Go
Oct 2025Led
$0.75 MSeed
Trusty
Jul 2025Participated
$1 MSeed
runQL
Nov 2024Led
$2 MSeed
Bloks, Inc.
Sep 2024Led
$2 MSeed
Loop
Sep 2024Participated
$5 MOther Equity
Axle Automation
Jul 2024Participated
$3 MSeed
Gamercraft
Jul 2023Participated
$5 MSeed
Expeto
Dec 2022Participated
$12 MSeries B
Thri5
Sep 2026Led
$5 MSeed
Ultimarii
Sep 2026Participated
$9 MSeries A
Walaw
Aug 2026Participated
$1 MSeed
Frugal
Nov 2025Participated
$5 MSeed
Ready Plan Go
Oct 2025Led
$0.75 MSeed
Trusty
Jul 2025Participated
$1 MSeed
runQL
Nov 2024Led
$2 MSeed
Bloks, Inc.
Sep 2024Led
$2 MSeed
Loop
Sep 2024Participated
$5 MOther Equity
Axle Automation
Jul 2024Participated
$3 MSeed
Gamercraft
Jul 2023Participated
$5 MSeed
Expeto
Dec 2022Participated
$12 MSeries B
41
Items
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Insights

Time horizon

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Deal Distribution

Mistral Venture Partners: 41 funding rounds are recorded in the selected participation categories.All available history.
Mistral Venture Partners: 41 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed611
Series A19
Series B05
Series C+02
Other Equity16

Monthly Deal Activity

Mistral Venture Partners: 41 deals are recorded across 153 months.All available history.
Mistral Venture Partners: 41 deals are recorded across 153 months. All available history
MonthDeals
Feb '141
Mar '140
Apr '140
May '140
Jun '141
Jul '140
Aug '140
Sep '140
Oct '140
Nov '140
Dec '140
Jan '150
Feb '151
Mar '150
Apr '150
May '150
Jun '150
Jul '150
Aug '151
Sep '150
Oct '150
Nov '151
Dec '150
Jan '160
Feb '160
Mar '160
Apr '160
May '160
Jun '160
Jul '160
Aug '160
Sep '161
Oct '160
Nov '160
Dec '160
Jan '171
Feb '170
Mar '171
Apr '170
May '170
Jun '170
Jul '170
Aug '170
Sep '170
Oct '170
Nov '170
Dec '170
Jan '180
Feb '180
Mar '180
Apr '180
May '180
Jun '181
Jul '180
Aug '182
Sep '181
Oct '180
Nov '181
Dec '180
Jan '190
Feb '190
Mar '190
Apr '192
May '190
Jun '190
Jul '190
Aug '190
Sep '190
Oct '191
Nov '190
Dec '190
Jan '201
Feb '200
Mar '200
Apr '200
May '201
Jun '200
Jul '200
Aug '200
Sep '200
Oct '200
Nov '200
Dec '200
Jan '211
Feb '210
Mar '211
Apr '210
May '210
Jun '210
Jul '211
Aug '211
Sep '210
Oct '210
Nov '211
Dec '210
Jan '221
Feb '220
Mar '220
Apr '220
May '220
Jun '221
Jul '220
Aug '220
Sep '220
Oct '222
Nov '221
Dec '222
Jan '230
Feb '230
Mar '230
Apr '230
May '230
Jun '230
Jul '231
Aug '230
Sep '230
Oct '230
Nov '230
Dec '230
Jan '240
Feb '240
Mar '240
Apr '240
May '240
Jun '240
Jul '241
Aug '240
Sep '242
Oct '240
Nov '241
Dec '240
Jan '250
Feb '250
Mar '250
Apr '250
May '250
Jun '250
Jul '251
Aug '250
Sep '250
Oct '251
Nov '251
Dec '250
Jan '260
Feb '260
Mar '260
Apr '260
May '260
Jun '260
Jul '260
Aug '261
Sep '262
Oct '260

Sector Breakdown

Mistral Venture Partners: Enterprise Software is the largest displayed sector by deal count (21 deals).All available history.

A deal can appear in multiple sectors, so sector totals may overlap. Capital represents disclosed total round sizes, not fund cheque sizes.

Mistral Venture Partners: Enterprise Software is the largest displayed sector by deal count (21 deals). All available history
SectorDeals
Enterprise Software21
Data, Analytics & IT13
Networks, Cloud & Communication13
AI & Machine Learning11
Fintech8
Professional Services7
E-Commerce & Retail5
Hardware & Robotics3
Health & Life Sciences3
Real Estate & Construction2
Space & Frontier Tech2
Cybersecurity & Privacy1
Crypto & Blockchain1
Marketing & Advertising1
Food & Agriculture1
Gaming & eSports1

Deal Size Distribution

Mistral Venture Partners: 41 rounds have a disclosed size in the displayed size bands.All available history.

Undisclosed round sizes are excluded. Capital represents total round sizes, not fund cheque sizes.

Mistral Venture Partners: 41 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M18
$5M-$10M10
$10M-$25M10
$25M-$50M1
$50M-$100M2
$100M-$250M0
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

Mistral Venture Partners: Canada has the largest recorded deal count among the displayed regions (35 deals).All available history.

Top 2 of 2 regions; European countries are grouped as Europe.

Mistral Venture Partners: Canada has the largest recorded deal count among the displayed regions (35 deals). All available history
RegionDeals
Canada35
United States6
Mistral Venture Partners: 20 co-investors are shown, with BDC Capital sharing 8 recorded deals.All available history.

Co-Investors

Bubble size = shared deals

Click a bubble to open that fund in a new tab.

Shows up to 20 co-investors ranked by shared deals. Deals may be shared with multiple funds, so rows overlap. Capital is total round size, not fund cheque size.

Mistral Venture Partners: 20 co-investors are shown, with BDC Capital sharing 8 recorded deals. All available history
Co-investorShared deals
BDC Capital8
Bessemer Venture Partners5
Fundfire4
Inovia Capital4
Relay Ventures4
Acadia Woods3
Boldstart Ventures3
Converge3
Impression Ventures3
Investissement Québec3
N49P3
Real Ventures3
Graphite Ventures2
LDV Partners2
Luge Capital2
MaRS2
OMERS Ventures2
Panache Ventures2
Primera Capital2
Resolve Growth Partners2

Investment Strategy

Mistral Venture Partners: Led accounts for 20% and participating for 80% of round participation.All available history.
Mistral Venture Partners: Led accounts for 20% and participating for 80% of round participation. All available history
CategoryDeals (count)Share (%)
Led820%
Participating3380%
Mistral Venture Partners: Single-lead accounts for 50% and co-led for 50% of lead dynamics.All available history.
Mistral Venture Partners: Single-lead accounts for 50% and co-led for 50% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead450%
Co-led450%

Team

Aaron Newman

Executive Fellow

Bernie Zeisig

Managing Partner

Code Cubitt

Managing Partner

Gordon Smythe

Venture Partner

Mike Scanlin

Venture Partner

Pablo Srugo

Partner

Peter Griffiths

Executive Fellow

Raif Barbaros

Partner