Cycle Capital
Cycle Capital is a Montreal-based venture capital firm managing seven ClimateTech funds across North America and Europe. It provides growth-stage capital to clean energy, DeepTech, circular economy, and water technology companies, operating through Fund V, the Circular Innovation Fund, and Cycle H2O.
- Company typePrivate
- Founded2009
- HeadquartersMontréal, Canada
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Cycle Capital does
Cycle Capital is a Montreal-headquartered venture capital firm founded in 2009 by Andrée-Lise Méthot that manages a platform of seven impact-focused investment funds spanning North America and Europe. The firm invests growth-stage capital into companies commercializing climate technology solutions across four primary verticals: CleanTech (clean energy and decarbonization), DeepTech (microelectronics, photonics, IoT, and digitalization via Fund V), Circular Economy and new materials (via the Circular Innovation Fund jointly managed with Paris-based Demeter), and WaterTech (via Cycle H2O Fund, co-managed with H2O Innovation). Cycle Capital also operates the Cycle Momentum accelerator and the Origo matching seed program, providing deal-flow origination, mentorship, and early-stage co-investment support across the Canadian cleantech ecosystem.
The firm's core products are its fund vehicles rather than technology products. It deploys capital through direct investments and syndicated rounds alongside institutional LPs (Investissement Québec, Fonds de solidarité FTQ, Fondaction) and corporate strategic investors (Brookfield, Cascades, L'Oréal, Masonite, Honda, Desjardins Capital, H2O Innovation). A proprietary ESG and impact assessment methodology is applied across the investment lifecycle from diligence to exit, and the Circular Innovation Fund holds Article 9 classification under the EU SFDR. The platform is differentiated by a transcontinental distribution footprint (Canada, US, France, Germany, and Asia via CIF) and a deep expert advisor bench drawn from corporates including Intel, Infineon, Marvell, Alcoa, Dow, and Microsoft.
The business model is institutional fund management: revenue is generated from management fees on committed or invested capital across multiple vintage years, supplemented by carried interest from successful portfolio exits (most notably Rhombus Energy Solutions' 2022 acquisition by BorgWarner). Deal flow originates through industrial partner networks, the Cycle Momentum accelerator, the ClimateTech Innovation Forum (co-organized with Bloomberg New Energy Finance), and direct referrals. The firm has signaled continued expansion through the deployment of a $350 million Fund V, the June 2024 initial close of Cycle H2O Fund, the buildout of a new restructuring fund vehicle led by senior partners joining in January 2026, and an emerging Canadian semiconductor investment cluster.
Cycle Capital firmographics
Firmographics- Name
- Cycle Capital
- Legal name
- Cycle Capital Management (CCM) Inc.
- Website
- https://cyclecapital.com
- Company type
- Private
- Founded year
- 2009
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Cycle Capital is a Montreal-based venture capital firm managing seven ClimateTech funds across North America and Europe. It provides growth-stage capital to clean energy, DeepTech, circular economy, and water technology companies, operating through Fund V, the Circular Innovation Fund, and Cycle H2O.
- Ownership category
- akta.pro rank
Cycle Capital industry classification
Industry- Product category
- Venture Capital / Private Equity
- NAICS
- Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Late-Stage Venture Capital (Series C+) (FSANAAAC)
- akta.pro secondary industries
- Early-Stage Venture Capital (Series A/B) (FSANAAAB), Renewables & Energy Transition Funds (Solar, Wind, Hydrogen, CCUS) (FSANAEAD)
Keywords
Where Cycle Capital is headquartered
LocationHeadquarters
- HQ city
- Montréal
- HQ country
- Canada
- HQ region
- North America
Offices1 record
Markets served
Cycle Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Others
Revenue model
- Fund Management: Cycle Capital generates revenue through management fees charged on assets under management across its seven fund platform, as well as carried interest (performance fees) from successful portfolio company exits. The firm manages multiple fund vehicles including Cycle Capital Fund V (DeepTech focus), Circular Innovation Fund (circularity and new materials), and Cycle H2O Fund (WaterTech).
Go-to-market motion1 record
Distribution channels3 records
Marketing channels4 records
Cycle Capital product offering
Product offeringCore offering
Cycle Capital is a venture capital firm that provides fund management services, investing growth-stage equity capital in companies commercializing climate technology solutions across North America and Europe. The firm manages a platform of seven funds covering DeepTech, circularity/new materials, and WaterTech, supplemented by the Cycle Momentum accelerator and open innovation platform for seed and early-stage startups.
Product overview
Cycle Capital is a leading ClimateTech venture capital platform that manages a family of impact-focused investment funds. The platform consists of seven funds across North America and Europe, including two growth-stage funds (Cycle Capital Fund V for DeepTech and Circular Innovation Fund for circularity), a seed/early-stage WaterTech fund (Cycle H2O), and the Cycle Momentum accelerator initiative. The company deploys a proprietary ESG and impact assessment methodology integrated throughout its investment process.
Differentiator
Problem solved
Functional benefit
Products and services
- Cycle Capital Fund V Growth-stage venture capital fund for DeepTech companies developing microelectronics, photonics, IoT, digitalization, and energy efficiency solutions. Targets growth-stage companies across North America and Europe.
- Circular Innovation Fund Global venture capital fund jointly managed with Demeter, investing in growth-stage companies advancing circular economy, new materials, packaging, recycling, and eco-efficient processes across North America, Europe, and Asia.
- Cycle H2O Fund Seed and early-stage WaterTech venture capital fund jointly managed with H2O Innovation, targeting innovative water technology companies from Québec and Eastern Canada in sustainable agriculture, green chemistry, and water treatment digital technologies.
- Cycle Momentum
Quantifiable outcome
- Portfolio companies serve hundreds of businesses across 25+ countries
- +2 more outcomes
Companies that use Cycle Capital
Customer profileSegments5 records
Ideal customer profiles5 records
Cycle Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Cycle Capital partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- DemetercoreCo-managers of the Circular Innovation Fund (CIF), a global venture capital fund focused on circular innovation. Jointly manage fund deployment across North America, Europe, and Asia with €1.3 billion under management.
Scale indicators8 records
Recent moves6 records
Expansion highlights6 records
Cycle Capital competitors and assessment
Company assessmentDirect peers
- Demeter: Paris-based venture capital firm focused on energy and ecological transition, with €1.3B AUM. Co-manages the Circular Innovation Fund with Cycle Capital and shares direct overlap on cleantech/circular investing across Europe and North America.
- Energy Impact Partners: US-based ClimateTech VC firm investing across the energy value chain with a global LP base of utilities and corporates. Directly comparable to Cycle Capital on cleantech thesis, corporate LP structure, and growth-stage ClimateTech deployment.
- S2G Ventures: Chicago-based ClimateTech VC investing across food, agriculture, oceans, and energy. Comparable to Cycle Capital on climate-themed multi-fund strategy, corporate LP engagement, and growth-stage ClimateTech investing.
- Obvious Ventures: San Francisco-based VC investing in purpose-driven companies across climate, health, and sustainable systems. Similar multi-fund structure and ClimateTech/sustainability orientation to Cycle Capital.
- Clean Energy Ventures: Early-stage ClimateTech VC investing across energy, mobility, and carbon. Comparable to Cycle Capital's Fund V and Cycle H2O verticals on stage, climate focus, and corporate-backed co-investment model.
- Prelude Ventures: San Francisco-based early-stage industrial and ClimateTech VC with deep corporate LP engagement. Comparable to Cycle Capital on industrial-climate crossover thesis and corporate-partnered investing model.
- Lowercarbon Capital: Climate-focused VC firm investing across decarbonization, energy, and climate solutions globally. Directly comparable to Cycle Capital on climate-only mandate and growth-stage ClimateTech deployment.
Broad incumbents
- Breakthrough Energy Ventures: Bill Gates-backed ClimateTech fund with $2B+ AUM investing globally in climate solutions. Comparable in thematic focus but operates at materially larger scale and broader mandate than Cycle Capital's seven-fund platform.
- Khosla Ventures: Large US-based VC firm with a substantial cleantech franchise alongside broader tech investing. Has co-invested with Cycle Capital in Sonocharge Energy, signaling direct thematic overlap and indirect co-investment peer relationship.
Regional players
- BDC Capital: Canada's business development bank VC arm, co-led Blumind's C$20M Series A with Cycle Capital. Regional Canadian VC comparable on deployment stage, Canadian LP/government backing, and DeepTech investment focus.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Cycle Capital social profiles
Digital presenceCycle Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Cycle Capital leadership team
Management profileNumber of profiles
Profiles21 records
Cycle Capital funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Cycle Capital M&A and investment
M&A and investmentM&A
Investments89 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Cycle Capital
What does Cycle Capital do?
Cycle Capital is a venture capital firm that provides fund management services, investing growth-stage equity capital in companies commercializing climate technology solutions across North America and Europe. The firm manages a platform of seven funds covering DeepTech, circularity/new materials, and WaterTech, supplemented by the Cycle Momentum accelerator and open innovation platform for seed and early-stage startups.
Is Cycle Capital a public or private company?
Cycle Capital is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Cycle Capital founded?
Cycle Capital was founded in 2009. It employs 11 to 50 people.
Where is Cycle Capital based?
Cycle Capital is headquartered in Montréal, Canada, in the North America region.
How does Cycle Capital make money?
One revenue line is on record: fund Management.
Who are Cycle Capital's main competitors?
Direct peers on record are Demeter, Energy Impact Partners, S2G Ventures, Obvious Ventures, Clean Energy Ventures, Prelude Ventures and Lowercarbon Capital. Broad incumbents are Breakthrough Energy Ventures and Khosla Ventures. BDC Capital is listed as a regional player.
Does Cycle Capital have an API?
No public API is recorded for Cycle Capital.
What industry is Cycle Capital in?
Cycle Capital's product category is Venture Capital / Private Equity. Its primary akta.pro industry code is FSANAAAC, Late-Stage Venture Capital (Series C+), with a secondary code of FSANAAAB, Early-Stage Venture Capital (Series A/B). Its NAICS code is 523940 and its SIC code is 6282.