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The Venture Codex

N49P

Toronto, Ontario, Canada

Overview

Venture capital firm investing in seed-stage Canadian tech startups.

Founded

2018

Deals · 12mo

7

Links

WebsiteLinkedInX (Twitter)

Stage focus

Seed

Geographic focus

Canada
United States

Sector focus

Business Development
Financial Services
Venture Capital

Investment portfolio

32rounds
NAMEDATESIZE
Thri5
Sep 2026Participated
$5 MSeed
Orbits
Sep 2026Participated
$2 MSeed
Floqer
Jun 2026Participated
$1 MSeed
Dessn
May 2026Participated
$6 MSeed
Slate
May 2026Led
$1 MSeed
Mave
Jan 2026Participated
$5 MSeed
The Intelligent Search Company
Nov 2025Led
$2 MSeed
Mave
Oct 2024Led
$1 MSeed
Baseline
May 2024Led
$2 MSeed
Spellbook
Jan 2024Participated
$20 MSeries A
Kento Health
Oct 2023Led
$3 MSeed
Deskree
Sep 2023Participated
$2 MSeed
Thri5
Sep 2026Participated
$5 MSeed
Orbits
Sep 2026Participated
$2 MSeed
Floqer
Jun 2026Participated
$1 MSeed
Dessn
May 2026Participated
$6 MSeed
Slate
May 2026Led
$1 MSeed
Mave
Jan 2026Participated
$5 MSeed
The Intelligent Search Company
Nov 2025Led
$2 MSeed
Mave
Oct 2024Led
$1 MSeed
Baseline
May 2024Led
$2 MSeed
Spellbook
Jan 2024Participated
$20 MSeries A
Kento Health
Oct 2023Led
$3 MSeed
Deskree
Sep 2023Participated
$2 MSeed
32
Items
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Insights

Time horizon

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Deal Distribution

N49P: 32 funding rounds are recorded in the selected participation categories.All available history.
N49P: 32 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed519
Series A04
Other Equity04

Monthly Deal Activity

N49P: 32 deals are recorded across 71 months.All available history.
N49P: 32 deals are recorded across 71 months. All available history
MonthDeals
Dec '201
Jan '210
Feb '211
Mar '211
Apr '210
May '211
Jun '212
Jul '211
Aug '210
Sep '210
Oct '210
Nov '210
Dec '210
Jan '221
Feb '220
Mar '221
Apr '220
May '223
Jun '220
Jul '221
Aug '220
Sep '220
Oct '222
Nov '220
Dec '221
Jan '230
Feb '230
Mar '231
Apr '231
May '231
Jun '231
Jul '230
Aug '230
Sep '231
Oct '231
Nov '230
Dec '230
Jan '241
Feb '240
Mar '240
Apr '240
May '241
Jun '240
Jul '240
Aug '240
Sep '240
Oct '241
Nov '240
Dec '240
Jan '250
Feb '250
Mar '250
Apr '250
May '250
Jun '250
Jul '250
Aug '250
Sep '250
Oct '250
Nov '251
Dec '250
Jan '261
Feb '260
Mar '260
Apr '260
May '262
Jun '261
Jul '260
Aug '260
Sep '262
Oct '260

Sector Breakdown

N49P: Enterprise Software is the largest displayed sector by deal count (10 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.

N49P: Enterprise Software is the largest displayed sector by deal count (10 deals). All available history
SectorDeals
Enterprise Software10
Fintech10
AI & Machine Learning9
Networks, Cloud & Communication7
Professional Services5
Developer Tools5
E-Commerce & Retail3
Consumer & Lifestyle3
Media & Entertainment3
Health & Life Sciences3
Data, Analytics & IT2
Real Estate & Construction2
Space & Frontier Tech2
Transportation & Logistics2
Education & Workforce1
Marketing & Advertising1
Manufacturing1
Food & Agriculture1
Social & Community Platforms1

Deal Size Distribution

N49P: 32 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.

N49P: 32 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M19
$5M-$10M7
$10M-$25M4
$25M-$50M0
$50M-$100M0
$100M-$250M2
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

N49P: Canada has the largest recorded deal count among the displayed regions (26 deals).All available history.

Top 4 of 4 regions; European countries are grouped as Europe.

N49P: Canada has the largest recorded deal count among the displayed regions (26 deals). All available history
RegionDeals
Canada26
United States4
London1
941031
N49P: 20 co-investors are shown, with Garage Capital sharing 6 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.

N49P: 20 co-investors are shown, with Garage Capital sharing 6 recorded deals. All available history
Co-investorShared deals
Garage Capital6
Good News Ventures4
Inovia Capital4
Mistral Venture Partners3
Panache Ventures3
Alate Partners2
Aviso Ventures2
Bling Capital2
Concrete Ventures2
Exit North Ventures2
FoundersX Ventures2
FUSE2
Gambit Partners2
KSK Group2
Liquid 2 Ventures2
Moxxie Ventures2
Outbound Ventures2
Relay Ventures2
StandUp Ventures2
Telegraph Hill Capital2

Investment Strategy

N49P: Led accounts for 16% and participating for 84% of round participation.All available history.
N49P: Led accounts for 16% and participating for 84% of round participation. All available history
CategoryDeals (count)Share (%)
Led516%
Participating2784%
N49P: Single-lead accounts for 20% and co-led for 80% of lead dynamics.All available history.
N49P: Single-lead accounts for 20% and co-led for 80% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead120%
Co-led480%

Team

Alex Norman

Founder