Roadmap Capital

What Roadmap Capital does

Roadmap Capital Inc. is a Toronto-based private deep tech investment firm founded in 2013 that deploys capital into companies developing tangible engineering innovations with high barriers-to-entry and strong intellectual property portfolios. The firm focuses on three primary verticals: Information and Communications Technology (wireless access, networking and cybersecurity, enterprise software), Sensors and Actuators (advanced sensing technologies, electronic components, control systems), and Medical Devices (diagnostic equipment, treatment solutions, health monitoring systems). The firm has invested over $200 million across its portfolio.

Roadmap serves early- and growth-stage deep technology companies, with a current portfolio of six disclosed holdings: GEO Semiconductor (automotive imaging, acquired by Indie), Peraso (mmWave semiconductors, Nasdaq: PRSO), CORSA (network security automation), Tornado Spectral Systems (Raman spectroscopy, acquired by Bruker), Perimeter Medical Imaging AI (medical imaging, TSXV: PINK), and Ubilite (wireless connectivity for AIoT). The firm does not develop its own technology products; its offering is capital paired with strategic support, sourced through direct, relationship-driven deal flow in narrow deep tech verticals.

The firm is staffed by five listed members, including co-founders Riadh Zine and Hugh Cleland as Principals, principal Imed Zine (PhD, PEng) covering advanced technologies, an Administration Officer, and a Controller. The team combines investment banking, portfolio management, advanced technologies, and business advisory experience at the 25-30+ year level. Revenue is generated through capital deployment and exits (management fees, carried interest, and capital gains on portfolio realizations), with no public pricing or fund terms disclosed. Operations are conducted from Toronto with disclosed activity in Canada and the United States.

Name

Roadmap Capital

Legal name

Roadmap Capital Inc.

Website

https://roadmapcapitalinc.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

1–10 employees

Short description

Roadmap Capital is a Toronto-based private deep tech investment firm founded in 2013 that has deployed $200M+ across ICT, Sensors and Actuators, and Medical Devices, backing engineering-innovative companies with strong IP portfolios through direct, relationship-driven investments.

Ownership category

akta.pro rank

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Investment Returns and Management Fees: Roadmap Capital generates returns through investment in deep tech companies, likely through a combination of management fees, carried interest, and capital gains from portfolio company exits. The firm has invested over $200M in breakthrough technologies across ICT, Sensors and Actuators, and Medical Devices sectors.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Roadmap Capital is a privately-held investment firm that deploys capital into deep technology companies with tangible engineering innovations, high barriers-to-entry, and strong intellectual property portfolios. The firm invests across three verticals: ICT (wireless access, networking, cybersecurity, enterprise software), Sensors and Actuators (advanced sensing technologies, electronic components, control systems), and Medical Devices (diagnostic equipment, treatment solutions, health monitoring systems). To date, the firm has invested over $200 million across a portfolio of six companies.

Product overview

Roadmap Capital is an investment firm operating as a single unified offering focused on deep tech investment. The firm invests $200M+ across three primary technology sectors: ICT (Information and Communications Technology including Wireless Access, Networking and Cybersecurity tools, Enterprise Software), Sensors and Actuators (Advanced sensing technologies, Electronic components, Control systems), and Medical Devices (Diagnostic equipment, Treatment solutions, Health monitoring systems). The investment strategy centers on tangible engineering innovation, high barriers-to-entry, and strong IP portfolios. The portfolio includes seven portfolio companies across various stages: GEO Semiconductor (automotive imaging, acquired by Indie), Peraso (mmWave semiconductors, Nasdaq: PRSO), CORSA (network security automation), Tornado Spectral Systems (Raman spectroscopy, acquired by Bruker), Perimeter Medical Imaging AI (medical imaging, TSXV: PINK), and Ubilite (wireless connectivity for AIoT).

Differentiator

Problem solved

Functional benefit

Products and services

• Deep Tech Venture Capital Investment Services An investment offering providing growth-stage equity and convertible debt financing to deep tech companies across ICT, Sensors and Actuators, and Medical Devices sectors. The firm targets companies with tangible engineering innovations, high barriers-to-entry, and strong IP portfolios. To date, over $200M has been deployed across six portfolio companies.

Quantifiable outcome

• Successfully exited multiple portfolio companies including GEO Semiconductor (acquired by Indie) and Tornado Spectral Systems (acquired by Bruker)

Named customers6 records

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• DCVC (Data Collective): US deep tech VC investing in computing, engineering, and life sciences; comparable to Roadmap's tangible-engineering, IP-rich deep tech investment mandate.
• TandemLaunch: Montreal-based deep tech accelerator and investor backing Canadian and international founders in AI, semiconductors, photonics, and sensing — directly comparable to Roadmap's ICT and Sensors verticals.
• Lux Capital: US deep tech VC backing founders in semiconductors, photonics, sensors, and healthcare — directly parallel to Roadmap's ICT, Sensors & Actuators, and Medical Devices verticals.
• Lumira Ventures: Canadian venture capital firm investing in healthtech, medical devices, and digital health — direct overlap with Roadmap's Medical Devices vertical.
• Whitecap Venture Partners: Toronto-based VC investing in Canadian technology companies with a focus on enterprise software, fintech, and healthtech — overlapping with Roadmap's ICT and Medical Devices verticals.
• Cycle Capital: Quebec-based cleantech and advanced materials VC; comparable in deploying patient capital into hardware-intensive deep tech with long horizons.
• Celtic House Venture Partners: Ottawa-based VC with a long track record investing in Canadian communications, semiconductor, and technology companies — closely aligned with Roadmap's ICT and Sensors focus.
• Yaletown Venture Partners: Vancouver-based VC focused on clean technology, ICT, and digital health; comparable thesis to Roadmap's three-vertical deep tech approach.
• Real Ventures: Canadian early- and growth-stage VC with a stated deep tech orientation across AI, robotics, and healthtech; competes for similar founder mindshare in the Toronto-Montreal corridor.

Broad incumbents

• BDC Capital: Investment arm of the Business Development Bank of Canada; deploys large-scale capital across multiple technology verticals including ICT, healthcare, and industrial tech, often co-investing with or alongside smaller Canadian VCs like Roadmap.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/roadmap-capital-limited

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments13 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Roadmap Capital