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Cycle Capital

North America, Quebec, Canada, Montréal

Description

Cycle Capital Management (CCM) is a leading Canadian venture capital firm dedicated to investing in and nurturing companies that are at the forefront of the cleantech and sustainability sectors. Based in Montréal, the firm has established itself as a key player in accelerating the development and commercialization of innovative clean technologies. With a primary geographic focus on North America, including both Canada and the United States, Cycle Capital is also expanding its reach into European markets, seeking out promising ventures that align with its mission to drive environmental and economic impact.

The firm's investment strategy centers on growth-stage companies, providing capital to businesses that have demonstrated significant potential and are ready to scale their solutions. Cycle Capital targets a diverse range of sub-sectors within cleantech, including energy transition, circular economy, sustainable agriculture, and smart cities. Beyond financial investment, CCM is known for offering strategic guidance, operational support, and access to its extensive network of industry experts and partners, aiming to foster the long-term success of its portfolio companies. Their commitment extends to integrating robust ESG (Environmental, Social, and Governance) principles into their investment decisions and portfolio management.

Cycle Capital typically deploys initial investments ranging from CAD $5 million to CAD $20 million per company, which translates to approximately USD $3.65 million to USD $14.6 million based on recent exchange rates. This strategic capital injection is designed to support companies through critical development and commercialization phases. Since its inception, Cycle Capital has built an impressive portfolio, having invested in more than 50 companies across various cleantech domains. The firm currently manages over $400 million in assets, underscoring its significant presence and influence in the global clean technology investment landscape.

Investor Profile

Cycle Capital has backed more than 37 startups, with 6 new investments in the last 12 months alone. The firm has led 11 rounds, about 30% of its total and boasts 4 exits across its portfolio.

Investment Focus Highlights

  • Concentrates on Series B, Series Unknown, Series C rounds (top funding stages).
  • Majority of deals are located in Canada, United States, Germany.
  • Strong thematic focus on Waste Management, Renewable Energy, Energy.
  • Led 4 rounds in the past year.
  • Typical check size: $3.6M – $14.6M.

Stage Focus

  • Series B (19%)
  • Series Unknown (16%)
  • Series C (14%)
  • Series A (14%)
  • Private Equity (11%)
  • Seed (11%)
  • Series D (5%)
  • Corporate Round (5%)
  • Convertible Note (3%)
  • Grant (3%)

Country Focus

  • Canada (78%)
  • United States (19%)
  • Germany (3%)

Industry Focus

  • Waste Management
  • Renewable Energy
  • Energy
  • Recycling
  • Cleantech
  • Electronics
  • Analytics
  • Manufacturing
  • Biofuel
  • Marketing
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FAQ

Frequently Asked Questions

Learn who this investor regularly partners with—both firms and angels—and explore their latest activity.

Who does Cycle Capital frequently co-invest with?

Prelude Ventures
North America, California, United States, San Francisco
Co-Investments: 5
BDC Capital Corporation
North America, Massachusetts, United States, Wakefield
Co-Investments: 4
Fondaction
North America, Quebec, Canada, Clarke City
Co-Investments: 5
Chrysalix Venture Capital
North America, British Columbia, Canada, Vancouver
Co-Investments: 5
BDC Venture Capital
North America, Alberta, Canada, Calgary
Co-Investments: 4
Braemar Energy Ventures
North America, New York, United States, New York
Co-Investments: 5
Waste Management
North America, Texas, United States, Houston
Co-Investments: 5
Export Development Canada
North America, Ontario, Canada, Ottawa
Co-Investments: 6
The Westly Group
North America, California, United States, Menlo Park
Co-Investments: 4
Investissement Quebec
North America, Quebec, Canada, Quebec
Co-Investments: 6

Which angels does Cycle Capital often collaborate with?

Shared Deals: 1
Shared Deals: 1
Mohamed Hage
North America, Quebec, Canada, Montréal
Shared Deals: 1

What are some of recent deals done by Cycle Capital?

RegenEAU

Lévis, Quebec, Canada

RegenEAU manufactures systems that recover heat from wastewater to reduce hot water energy use in multi-unit and commercial buildings.

CommercialEnergyManufacturing
SeedJun 3, 2025
Amount Raised: $2,257,024
Blumind

Ottawa, Ontario, Canada

Blumind provides analog machine learning inferencing engines for edge smart sensors and smart devices.

Artificial Intelligence (AI)Machine LearningSemiconductor
Series AApr 8, 2025
Amount Raised: $14,031,740
BioAlert Solutions

Sherbrooke, Quebec, Canada

BioAlert Solutions is a continuous monitoring device used to detect legionella pneumophila.

IndustrialManufacturingWater Purification
SeedMar 26, 2025
Amount Raised: $1,748,687
VueReal

Waterloo, Ontario, Canada

VueReal provides micro-LED displays to deliver display, sensor, and micro device solutions for various applications.

Consumer ElectronicsElectronicsManufacturing
Series CJan 30, 2025
Amount Raised: $40,504,924
Sonocharge Energy

San Diego, California, United States

Sonocharge Energy develops a technology that enables batteries to charge.

BatteryClean EnergyEnergy
Series UnknownJan 22, 2025
Amount Raised: $23,500,000
Mysa

St. John's, Newfoundland, Canada

Mysa is a smart thermostat for baseboard heaters for home.

Consumer ElectronicsInternetSmart HomeTelecommunications
Series BOct 2, 2024
Amount Raised: $8,142,750
Airex Energy

Laval, Quebec, Canada

Airex Energy has successfully developed an exciting new technology for biomass torrefaction.

Energy EfficiencyWaste Management
Series DJun 18, 2024
Cycle Momentum

Montréal, Quebec, Canada

Cycle Momentum offers acceleration and open innovation programs dedicated to the clean technology ecosystem.

Advanced MaterialsCleanTechElectric VehicleGreen BuildingGreenTechRenewable EnergySmart BuildingSmart CitiesSmart HomeWater
GrantOct 16, 2023
Amount Raised: $22,250,000
Local Logic

Montréal, Quebec, Canada

Local Logic quantifies everything outside the four walls of any asset to help build more sustainable and livable cities.

AnalyticsArtificial Intelligence (AI)Big DataCommercial Real EstateInformation ServicesInformation TechnologyPredictive AnalyticsReal EstateReal Estate InvestmentSustainability
Series BAug 2, 2023
Amount Raised: $13,113,722
Encycle Corporation

Toronto, Ontario, Canada

Encycle provides unique benefits to a number of Fortune 500 companies .

ElectronicsRenewable EnergyWireless
Series UnknownMay 11, 2021
Amount Raised: $7,500,000