Northleaf and Inovia Join Forces to Accelerate Canadian Venture Ecosystem

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Discovery by Inovia x Northleaf will back Canada’s next generation of emerging managers and founders

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TORONTO & MONTREAL — Inovia Capital (“Inovia”), a global multi-stage tech investor, and Northleaf Capital Partners (“Northleaf”), a global private markets investment firm, today announced the launch of Discovery (“Discovery”) by Inovia x Northleaf, a platform designed to accelerate the next generation of Canadian emerging venture firms and founders with support from both organizations.

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The partnership brings together Northleaf’s disciplined fund investing and leadership in the market with Inovia’s direct investing experience and early-stage venture expertise to support high-conviction pre-seed and seed opportunities, primarily in Canada. With more than 350 professionals across both organizations, the platform supports emerging managers with capital, firm-building guidance, portfolio construction expertise, and access to global networks of founders, operators, and co-investors.

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“Our partnership with Inovia brings together two highly complementary capabilities,” said Ian Carew, Managing Director and Venture Partner, Northleaf. “Northleaf has deep experience investing in venture funds with institutional discipline and scale, while Inovia brings differentiated early-stage insight, founder relationships, and direct investing expertise.”

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Northleaf is one of Canada’s most active venture capital fund investors, with more than US$1 billion in capital commitments across 65+ Canadian venture and growth fund manager investments. Inovia is a leading multi-stage technology investor, with more than US$2.5 billion of assets under management across its discovery, venture and growth strategies, and a strong track record of supporting pre-seed and seed-stage entrepreneurs and investors in North America and Europe.

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“Inovia has always believed that backing exceptional founders and emerging managers is key to building enduring venture ecosystems,” said Karamdeep Nijjar, Partner at Inovia. “Partnering with Northleaf allows us to extend the reach and impact of our Discovery program alongside a like-minded partner.”

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Since 2016, Northleaf and Inovia have collaborated on 13 primary, direct, and secondary investments totaling approximately C$177 million, reflecting a long-standing partnership and shared investment focus for Canadian tech that underpins the launch of Discovery.

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For more information, please visit: www.discoveryprogram.vcAbout Northleaf Capital Partners
Northleaf Capital Partners is a global private markets investment firm with more than US$31 billion in private equity & venture capital, private credit and infrastructure commitments raised to date from more than 375 institutional and family office investors and a growing number of wealth, asset management and insurance partners. Northleaf sources, evaluates and manages private markets investments, with a focus on mid-market companies and assets. Northleaf’s 300-person team is located in Toronto, Chicago, London, Los Angeles, Melbourne, Menlo Park, Montreal, New York, Seoul and Tokyo. For more information, please visit www.northleafcapital.com.

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About Inovia Capital

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Inovia Capital is a leading multi-stage tech investor, partnering with founders to build impactful and enduring global companies. With three investment strategies—Discovery, Venture, and Growth—the team leverages an operator-led mindset to provide founders with multi-stage support, mentorship, and access to a worldwide network. Inovia manages over US$2.5 billion with operations in Montreal, Toronto, Waterloo, Calgary, the Bay Area, London and Abu Dhabi. For more information, visit

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This press release is provided for informational purposes only and does not constitute a general solicitation, offer or invitation to buy any security or investment product in any jurisdiction, and has not been prepared in connection with any such offer.

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