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AI Drives Canada’s VC Growth in 2025

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Canadian venture investment rebounded in 2025, driven largely by artificial intelligence. According to analysis by Inovia Capital using PitchBook data, Canadian companies raised US$5.6 billion, a 29 per cent increase year over year. AI-native firms captured 40 per cent of all venture dollars, up sharply from 2024 and double their share in 2015.

Canada outpaced peer economies including the U.K., France, Australia, and Germany. Inovia partner Kory Jeffrey cited global investor interest. Major contributors included Toronto-based Waabi and Cohere, which raised US$750 million and US$600 million respectively.

Want to know more? Check out the source code on The Logic.

Mila, Inovia Launch $100M AI Venture Fund

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Montréal-based AI institute Mila has partnered with venture firm Inovia Capital to launch the Venture Scientist Fund, a $100-million USD early-stage initiative aimed at commercializing Canadian AI research. Announced at Mila headquarters, the fund will back promising research from Mila, Alberta’s Amii, and Toronto’s Vector Institute, supporting scientists at the earliest stages of startup formation.

Mila CEO Valérie Pisano said the effort aligns with federal priorities to accelerate AI commercialization under Prime Minister Mark Carney. Inovia will co-manage the fund, which formally began fundraising this week. Mila managing director Stéphane Marceau will oversee operations, supported by a team of experienced venture advisors.

Want to know more? Check out the source code on Betakit.

Inovia Launches $34 Million Discovery Fund to Boost Early-Stage VC

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Montreal-based Inovia Capital has unveiled its inaugural Discovery Fund, securing $34 million for investments in North American pre-seed and seed-stage startups.

The fund aims to aid emerging VC managers, already backing numerous firms and reserving capital for direct investments. Notable limited partners include Deloitte Ventures and Roller Labs Ventures. This move supports Inovia’s broader mission of assisting founders throughout their growth journey.

While the economic downturn challenges emerging managers, Inovia’s institutional investor base provides stability. The Discovery Fund plays a pivotal role in a volatile market, fostering innovation in the tech sector.

Want to know more? Check out the source code on BetaKit.