Mistral Venture Partners

Headquartered in Ottawa, with offices in Montreal and California, Mistral focuses on seed and early stage investing across Canada with a particular focus on Ontario and Quebec.

Mistral was founded in 2012 and based on a thesis that exceptional Canadian innovators were struggling to find experienced early-stage capital providers, who were able to help with the earliest stages of company creation. Armed with decades of early stage venture investing experience by a team of former entrepreneurs, Mistral set out to build a firm dedicated to serving the best technology start-ups in Canada.

The Ritual team

After a first close in Fund I in early 2013, Mistral has gone on to raise $60 million across two funds and has invested in 27 companies to date (15 in Fund I and 12 in Fund II). Mistral invests primarily in Canadian technology companies, but also makes investments in US based start-ups when our network provides preferred access. The funds currently have investments in Ottawa, Toronto, Montreal, Calgary, Vancouver as well as New York, Ohio and California.

Our team is led by four general partners, all of whom have also been founders of at least two companies and have an average of 20 years investing experience. The four founding partners were all trained by prominent US-based venture capital firms, bring many years of technology investing experience and have exceptional track-records. In addition, Mistral benefits from having 30 executive fellows- LPs who have previous experience as founders and/or operators and who devote time to helping our portfolio companies.

We are typically the first institutional investor in our companies. We generally lead our rounds but sometimes join another trusted firm in filling out a round. In either scenario, our goal is to
help position our companies for the next stage of fundraising by helping them grow from early traction to predictable growth.

We invest in startups that solve critical business problems, regardless of the business model– enterprise software, B2B SaaS, marketplaces, etc. We partner with founders who value experience, commitment and the highest standards of integrity and respect. We look for clear value propositions that drive meaningful utility for end customers.