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Intrepid Growth Partners is a venture capital firm founded to support growth-stage companies that leverage machine intelligence. Established with offices in Toronto, Canada, and London, United Kingdom, the firm focuses on partnering with founders who are driving significant changes in their industries through AI technologies. The organization has a fund size of $500 million, primarily targeting investments in North America and Europe, while also maintaining connections to the Middle East and Asia.
The firm has a strong emphasis on growth equity, specifically targeting private companies that demonstrate transformative potential and proven value creation. Intrepid Growth Partners has built a reputation for its deep ties to the Canadian pension capital ecosystem and academia, particularly through its association with the Creative Destruction Lab. This connection enhances its ability to provide strategic support and operational guidance to its portfolio companies.
Since its inception, Intrepid Growth Partners has focused on sectors such as AI, healthcare, legaltech, adtech, and SaaS. The firm employs a lead-investor model, ensuring active involvement in the strategic direction of its investments. This approach has allowed Intrepid to establish itself as a key player in the growth equity space, particularly in the AI sector.
Intrepid Growth Partners invests exclusively in growth-stage companies that leverage machine intelligence across various sectors, including AI, healthcare, legaltech, adtech, and SaaS. The firm targets companies that have demonstrated value creation and possess transformative potential. Investments are primarily made in North America and Europe, with additional connections to the Middle East and Asia.
The typical check size ranges from $30 million to $50 million per initial investment, focusing on companies with at least $10 million in annual recurring revenue (ARR) and a clear path to profitability. Intrepid Growth Partners emphasizes a lead-investor model, which allows them to take an active role in guiding the strategic direction and operational support of their portfolio companies. This model is particularly beneficial for firms in the growth stage, such as Series B and C rounds.
Intrepid's investment thesis centers on redefining industries through AI and machine intelligence, seeking to partner with pioneering companies that are driving significant changes in their respective fields. The firm looks for founders who are not only innovative but also capable of executing their vision effectively.
Intrepid Growth Partners has a diverse portfolio of companies that exemplify its focus on AI and machine intelligence. Notable portfolio companies include:
This portfolio reflects Intrepid's commitment to investing in companies that are not only innovative but also demonstrate a clear path to value creation and industry transformation.
Mark Machin: Co-founder & Managing Partner. Mark previously served as the CEO of the Canada Pension Plan Investment Board (CPPIB), bringing extensive experience in investment management and strategic leadership.
Mark Shulgan: Co-founder & Partner. Mark has a background as a senior pension executive, contributing valuable insights into investment strategies and portfolio management.
Ajay Agrawal: Co-founder & Partner. Ajay is the founder of the Creative Destruction Lab at the University of Toronto and a professor, specializing in machine intelligence and its applications in business.
Stephen Thorne: Partner. Stephen has a strong background in venture capital and technology investments, focusing on identifying high-potential startups.
Grant Wallace: Principal. Grant plays a key role in sourcing and evaluating investment opportunities, leveraging his expertise in growth equity.
To pitch to Intrepid Growth Partners, founders should reach out via email at info@intrepidgp.com. It is essential to include a comprehensive pitch deck that outlines the business model, market opportunity, and financial projections. The firm values clarity and detail in presentations.
Response times may vary, but founders can expect to hear back within a few weeks. Warm introductions are preferred, as they can facilitate a more favorable review process.
In November 2025, Intrepid Growth Partners led a $72 million Series C financing round for CoLab, an AI-powered engineering collaboration platform based in St. John's, NL.
In April 2025, the firm led a £15 million Series B investment in Skin Analytics, a UK-based company specializing in AI-powered skin cancer detection via smartphones.
Intrepid Growth Partners has also made prior investments in StackAdapt, a Canadian ad-tech platform, and Blue J, an AI-powered legal and tax research platform, although specific amounts for these investments have not been disclosed.
What are Intrepid Growth Partners' investment criteria?
Intrepid Growth Partners focuses on growth-stage companies leveraging machine intelligence. They typically invest in companies with at least $10 million in annual recurring revenue (ARR) and a clear path to profitability.
How can I apply or pitch to Intrepid Growth Partners?
Founders can pitch their ideas by reaching out via email at info@intrepidgp.com. It is advisable to include a detailed deck outlining the business model, market opportunity, and financial projections.
What makes Intrepid Growth Partners different from other venture capital firms?
Intrepid Growth Partners emphasizes a lead-investor model, allowing them to actively participate in the strategic direction and operational support of their portfolio companies. Their deep ties to the Canadian pension capital ecosystem and academia provide additional resources and insights.
What is the geographic scope of Intrepid Growth Partners' investments?
The firm primarily invests in North America and Europe, while also maintaining connections to the Middle East and Asia, allowing for a global investment perspective.
What is the typical fund size and check size for investments?
Intrepid Growth Partners has a fund size of $500 million, with typical check sizes ranging from $30 million to $50 million per initial investment.
What kind of post-investment involvement can portfolio companies expect?
Intrepid Growth Partners takes an active role in guiding the strategic direction of its portfolio companies, providing operational support and leveraging its network to enhance growth opportunities.
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