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Luge Capital is a venture capital firm founded in 2018, focusing on the fintech sector. The firm operates from offices in Montreal and Toronto, investing primarily in early-stage companies in Canada and the United States. Luge Capital is backed by prominent financial institutions, including CDPQ, Desjardins, BDC Capital, and Sun Life, which enhances its ability to support innovative financial technologies.
Since its inception, Luge Capital has raised two funds: the first fund, initially set at CA$75 million, later grew to CA$85 million. The second fund, Luge Capital Fund II, announced a first close of CA$71 million in September 2023 and aims for a total of CA$100 million, with a final close expected in September 2024. This growth reflects Luge's commitment to investing in fintech startups that are reshaping the financial services landscape.
As of now, Luge Capital manages over CA$180 million in assets across its two funds, focusing on sectors such as payments, insurtech, and financial data infrastructure. The firm has built a portfolio of 25 companies, demonstrating its active role in the fintech investment space.
Luge Capital specializes in early-stage investments in the fintech sector, particularly in companies leveraging artificial intelligence. The firm targets pre-seed, seed, and Series A funding rounds, with check sizes typically ranging from CA$250,000 to CA$2 million. Luge Capital collaborates closely with large financial institutions to enhance the growth and market reach of its portfolio companies.
The firm’s investment strategy emphasizes startups that improve customer experiences and apply AI to financial decision-making. Luge Capital is particularly interested in verticalized fintech solutions and ESG-oriented companies, expanding its focus to include sectors such as logistics and embedded finance. This approach allows Luge to back innovative teams that challenge the status quo in financial services.
Luge Capital has built a diverse portfolio of 25 companies, focusing on various aspects of fintech. Notable investments include:
These companies represent Luge Capital's commitment to supporting innovative solutions that reshape financial services.
David Nault: General Partner. David co-founded Luge Capital and has a background as an investor with iNovia Capital. He previously served as president of Callio Technologies, bringing experience in cybersecurity and enterprise software.
Karim Gillani: General Partner. Karim co-founded Luge Capital and has a history in corporate development, having led efforts at Xoom before its acquisition by PayPal. His expertise includes mobile payments and commerce strategy from his time at BlackBerry.
Laviva Mazhar: Principal. Laviva plays a key role in sourcing and supporting portfolio companies, although specific details about her background are limited.
Ha Duong: VP Finance & Operations. Ha oversees fund operations and finance, ensuring smooth management of Luge Capital's financial activities.
Khrystyna Penyk: Investment Associate. Khrystyna is involved in sourcing and evaluating potential investments for the firm.
Rohan Monga: Investment Associate. Rohan co-authored the investment announcement for Velix, indicating his active role in the firm's investment activities.
Anne-Sophie Gauvin: Communications & Office Manager. Anne-Sophie manages communications and office operations, supporting the firm's outreach and internal processes.
To pitch Luge Capital, founders should visit their website at luge.vc. It is advisable to include a comprehensive pitch deck that outlines the business model, market analysis, and team qualifications. Luge Capital prefers pitches that clearly articulate the startup's value proposition and how it fits within the fintech landscape.
While the firm does not specify a formal application portal, a well-structured email to communications@luge.vc with the pitch deck attached is recommended. Founders can expect a response within a few weeks, depending on the volume of inquiries.
Warm introductions are beneficial but not mandatory. Luge Capital values direct communication and encourages founders to reach out if they believe their startup aligns with the firm's investment thesis.
Luge Capital has launched multiple funds to support early-stage fintech startups. The first fund, Luge Capital Fund I, raised $75 million, while the recently announced Luge Capital Fund II aims for a total of $100 million, with a first close of $71 million. This fund focuses on verticalized fintech startups and ESG-oriented companies.
These funds are designed to provide the necessary capital and resources for startups to scale and succeed in the competitive fintech market.
In September 2024, Luge Capital announced the final close of its second fund, Luge Capital Fund II, at CA$96 million. This fund aims to support early-stage fintech startups with a focus on verticalized fintech and ESG-oriented companies.
In February 2026, Luge Capital led a CA$2 million pre-seed investment in Velix, a financial operating system for logistics and 3PL financial workflows. This investment aligns with Luge's strategy of backing innovative fintech solutions.
In October 2025, Luge participated in a US$10 million Series A round for Cybrid, a stablecoin and fiat payment-rails platform, further demonstrating its commitment to investing in next-generation financial infrastructure.
Additionally, Luge Capital announced the acquisition of ProNavigator by Guidewire in November 2025, marking a significant exit for the firm.
What are Luge Capital's investment criteria?
Luge Capital invests in early-stage fintech companies, particularly those utilizing artificial intelligence. The firm focuses on pre-seed, seed, and Series A rounds, with check sizes typically ranging from CA$250,000 to CA$2 million.
How can I pitch to Luge Capital?
Founders can pitch Luge Capital through their website at luge.vc. It is recommended to include a clear business model, market analysis, and team background in the pitch deck.
What makes Luge Capital different from other VCs?
Luge Capital differentiates itself by its exclusive focus on fintech and its strong backing from major financial institutions, which provides portfolio companies with valuable resources and networking opportunities.
What is Luge Capital's geographic focus?
The firm primarily invests in companies based in Canada and the United States, targeting the North American fintech market.
What is Luge Capital's post-investment involvement?
Luge Capital actively supports its portfolio companies by leveraging its extensive network of financial institutions, providing strategic guidance, and facilitating partnerships that enhance growth and market reach.
What is the size of Luge Capital's funds?
Luge Capital's first fund was initially raised at CA$75 million and later grew to CA$85 million. The second fund, Luge Capital Fund II, aims for a total of CA$100 million, with a first close of CA$71 million announced in September 2023.
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