Toronto-based Northside Ventures, a Pre-Seed investor in Canadian tech founders, has launched its second venture capital fund. The firm plans to raise US$30 million for Fund II by early 2027 and has already secured US$17 million in commitments. CIBC Innovation Banking and Intact Private Capital co-anchor the fund.
Fund details
Fund II plans to deploy an average of US$500,000 into each startup’s first round. That is more than twice the US$225,000 average from Fund I. Northside will double follow-on reserves to 20% and target 40 companies.
Investor base
CIBC Innovation Banking is a first-time Northside limited partner. Returning investor Intact Private Capital also co-anchors Fund II. TD Innovation Partners, Bain Capital Ventures, family offices, high-net-worth individuals, and Canadian tech entrepreneurs also contributed.
Investment focus
Northside invests in Pre-Seed Canadian tech startups at or near inception. The firm often backs founders before they have built products. With Fund II, it is especially interested in AI applications, AI infrastructure, and frontier tech such as robotics and defense.
The firm has already made 12 investments from Fund II since the start of 2026. It has backed PolarGrid, Space, Aron AI, Solderable, Windkey, and Vernius Systems. Northside also added former intern Naomi Welch to its investment team.
Read more: betakit.com