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Cycle Capital is a venture capital firm founded in 2009 and headquartered in Montreal, Canada. The firm focuses on investing in innovative companies that develop clean technologies aimed at addressing significant environmental challenges. With a total fund size of $700 million, Cycle Capital operates a platform of seven investment funds, including the Cycle Capital V Fund, the Circular Innovation Fund, and the Cycle H2O Fund. These funds target various sectors such as climatetech, cleantech, deeptech, microelectronics, and watertech.
Over the years, Cycle Capital has established itself as a key player in the clean technology investment space, actively supporting companies that contribute to the net-zero transition. The firm has a diverse Limited Partner (LP) base and has achieved notable milestones, including the promotion of team members and the launch of new funds. Cycle Capital's commitment to sustainability is reflected in its investment strategy, which integrates ESG and impact assessments into its workflow.
Cycle Capital invests across multiple stages, including pre-seed, seed, seed-plus, series A, and growth equity. The firm targets companies that are commercializing technologies to address ecological challenges, with a strong emphasis on sectors such as clean energy, sustainable mobility, smart cities, green chemistry, and circular innovation. Their investment strategy encompasses a wide range of sectors, including climatetech, cleantech, deeptech, microelectronics, and watertech.
The firm seeks to partner with talented teams building high-growth companies that possess innovative intellectual property and cutting-edge technology for large markets. Cycle Capital integrates ESG and impact assessments into its investment workflow, ensuring that portfolio companies not only achieve financial success but also contribute positively to environmental and social outcomes. This focus on impactful innovation positions Cycle Capital as a leader in the clean technology investment landscape.
Cycle Capital's portfolio includes a diverse array of companies that are making significant strides in clean technology. Notable portfolio companies include:
These companies exemplify Cycle Capital's commitment to supporting high-performing firms that utilize fewer resources and generate significant efficiency gains. The firm actively seeks to invest in technologies that address major ecological challenges, further solidifying its position in the climatetech sector.
Andrée-Lise Méthot: Founder and Managing Partner. She has extensive experience in venture capital and has played a pivotal role in shaping Cycle Capital's investment strategy.
Claude Vachet: Managing Partner. Claude brings a wealth of knowledge in investment management and has been instrumental in the firm's growth.
Ariane Cloutier: Partner and Chief Financial Officer. Ariane oversees financial operations and has a strong background in finance and accounting.
Guillaume Ouimet: Director, Fundraising. He is responsible for raising capital and managing relationships with investors.
Kevin Cano: Director, Investments, Deep Tech. Kevin leads investments in deep technology sectors and has a strong technical background.
Maya Hassa: Director, Investments, Circularity/New Materials. Maya focuses on investments in circular innovation and new materials.
To pitch Cycle Capital, founders should use the preferred channel outlined on their official website. It is important to include a comprehensive deck that details the business model, technology, market opportunity, and team background. Cycle Capital appreciates well-structured pitches that clearly articulate the startup's value proposition.
While there is no specific application form, founders are encouraged to reach out through the website for initial inquiries. Response times may vary, but Cycle Capital aims to engage with potential investments promptly. Warm introductions are preferred, as they can facilitate a more favorable review process.
Cycle Capital operates several initiatives aimed at fostering innovation in clean technology. One of the key programs is the **Cycle H2O Fund**, which is dedicated to investing in innovative water technologies with a target fund size of $30 million.
Another significant initiative is the **ClimateTech Innovation Forum**, an annual event that gathers leaders from various sectors to discuss advancements in climate technology. This forum serves as a platform for networking and collaboration among industry stakeholders.
In recent months, Cycle Capital has been active in promoting its team and investments. Notably, Marius Thebault was promoted to principal in February 2026, reflecting the firm's commitment to developing its internal talent.
Additionally, Cycle Capital led a new investment round in AON3D in January 2026, supporting the deployment of high-temperature 3D printers. This investment aligns with the firm's focus on advanced manufacturing and hardware commercialization.
Cycle Capital also hosted the ClimateTech Innovation Forum on May 16, 2023, in Montreal, which gathered leaders from various sectors to discuss advancements in climate technology. Future editions of the forum are scheduled for April 11, 2024, and April 10, 2025.
What are Cycle Capital's investment criteria?
Cycle Capital invests in companies across various stages, including pre-seed, seed, seed-plus, series A, and growth equity. The firm focuses on sectors such as climatetech, cleantech, deeptech, microelectronics, and watertech, targeting companies that are commercializing technologies to address ecological challenges.
How can I apply or pitch to Cycle Capital?
Founders can pitch Cycle Capital through their official website. It is recommended to include a detailed business plan, information about the team, and the technology being developed. The firm values innovative IP and impactful solutions.
What makes Cycle Capital different from other investors?
Cycle Capital integrates ESG and impact assessments into its investment workflow, ensuring that portfolio companies contribute positively to environmental and social outcomes. This focus on sustainability sets them apart from traditional venture capital firms.
What is Cycle Capital's geographic scope?
Cycle Capital primarily invests in North America and Europe, with a specific focus on clean technology innovations that address ecological challenges in these regions.
What is the typical check size for investments?
While specific check sizes are not disclosed, Cycle Capital's partner, Demeter, indicates that investments typically range from EUR1 million to EUR30 million. Cycle-specific check sizes should be verified directly with the firm.
What kind of post-investment involvement does Cycle Capital have?
Cycle Capital provides not only capital but also strategic guidance and access to a network of industry experts. They actively support their portfolio companies in achieving both financial success and positive environmental impact.
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