Toronto-based Graphite Ventures successfully concludes its Fund IV at $110 million.
The firm, expanding beyond Ontario, received a crucial $10-million contribution from Alberta Enterprise Corporation (AEC) in July, according to General Partner Aaron Bast. OMERS, MaRS, CIBC Innovation Banking, private equity funds, and undisclosed high-net worth individuals are backers.
Initially focusing on Ontario, Graphite’s mandate now spans Canada-wide. Graphite’s portfolio includes Calgary’s WaitWell and Montréal’s Maxa. The firm’s key sectors are B2B SaaS, FinTech, digital health, and AI-driven hardware.
Bast anticipates more investments across Canada by 2025. Early-stage companies receive $250,000 to $1 million, with follow-on cheques up to $3 million.
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