Amiral Ventures
Amiral Ventures is a Montreal-based, founder-led early-stage venture capital firm investing at late-seed and Series A in Canadian enterprise AI, productivity, resilience, and sustainability startups with CAD 1-2M initial checks from its CAD 75M target Fund I.
- Company typePrivate
- Founded2025
- HeadquartersMontréal, Canada
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Amiral Ventures does
Amiral Ventures is a Montreal-headquartered, founder-led venture capital firm that invests at the late-seed and Series A stages in Canadian technology companies. The firm launched its inaugural fund (Amiral Fund I Limited Partnership) in December 2025 with a CAD 40 million first close toward a CAD 75 million target, anchored by a CAD 25 million commitment from the Government of Quebec through Investissement Québec and additional backing from Desjardins Capital and 40+ founder-operators serving as both LPs and mentors. Amiral's stated investment thesis ("Prosperity Decoded") is organized around three pillars: Productivity (software digitizing traditional verticals), Resilience (supply chain, cybersecurity, smart industry), and Sustainability (energy optimization, circular economy), with explicit emphasis on applied AI, industrial IoT, autonomous robotics, edge computing, and intelligent manufacturing.
The firm employs a lead-or-co-lead investment model with CAD 1.0-2.0 million initial checks, up to CAD 6.0-7.0 million per company over fund life, and a target of roughly 15 portfolio companies. Ownership targets of 10-20% with board participation and 50-60% of capital reserved for follow-on indicate meaningful governance involvement. Portfolio companies disclosed to date are Maxa (AI analytics for ERP/FP&A), Maket (generative AI for architectural design), and Boost Security (AI-native SDLC defense). Distribution and deal flow are sourced through direct founder relationships, a curated operator-LP network, ecosystem events including North Star conferences (700+ attendees in 2025), AI Salon events at Mila, and The Flagship Podcast.
Economically, Amiral operates a traditional VC revenue model: management fees on committed capital during fund life plus carried interest on successful exits. The three managing partners (Frédéric Bastien, Dominic Becotte) and partner (Nectarios Economakis) anchor the firm with prior exits (Mnubo to Aspen Technology/Emerson, earlier venture to Tekelec/Oracle), board experience across 100+ companies, and $150M+ raised as founders and GPs. The firm positions itself as a deliberate counter to the Canadian "Death Valley" capital gap, seeking to keep founder-led Canadian companies domestically financed and globally scaled rather than ceding them to US lead investors.
Amiral Ventures firmographics
Firmographics- Name
- Amiral Ventures
- Legal name
- Amiral Fund I Limited Partnership
- Website
- https://amiral.vc
- Company type
- Private
- Founded year
- 2025
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Amiral Ventures is a Montreal-based, founder-led early-stage venture capital firm investing at late-seed and Series A in Canadian enterprise AI, productivity, resilience, and sustainability startups with CAD 1-2M initial checks from its CAD 75M target Fund I.
- Ownership category
- akta.pro rank
Amiral Ventures industry classification
Industry- Product category
- Venture Capital
- NAICS
- Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)
- akta.pro secondary industries
- SDG / Thematic Sustainable Investment Funds (FSANAJAN), Micro-VC & Angel Funds (FSANAAAI)
Keywords
Where Amiral Ventures is headquartered
LocationHeadquarters
- HQ city
- Montréal
- HQ country
- Canada
- HQ region
- North America
Offices2 records
Markets served
Amiral Ventures business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others
Revenue model
- Fund Management Fees: Traditional VC management fee structure on committed capital during fund life
- Carried Interest (Carry): Performance-based carried interest from successful portfolio company exits, representing the primary economic upside for the fund management
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Seed to Series A Investment Stage |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
Amiral Ventures product offering
Product offeringCore offering
Amiral Ventures is a founder-led, founder-backed early-stage venture capital firm that invests CAD 1.0-2.0 million initial checks (up to CAD 6.0-7.0 million total per company) in late-seed and Series A technology companies. The firm manages the Amiral Fund I Limited Partnership (CAD 75M target, CAD 40M first close in Q4 2025) and provides capital alongside hands-on operational support, board participation, and access to a network of 40+ operator-investors. Investments focus on enterprise AI, productivity software, industrial IoT, autonomous robotics, cybersecurity, intelligent manufacturing, and sustainability technologies aligned with the firm's Prosperity Decoded thesis.
Product overview
Amiral Ventures is a founder-led, founder-backed early-stage venture capital firm based in Montreal, Quebec, Canada. The firm does not develop or sell technology products or services in the traditional sense. Rather, Amiral Ventures provides venture capital investment, operational expertise, strategic guidance, and network access to early-stage technology companies. The firm manages a CAD $75 million fund (with CAD $40 million initial close in Q4 2025) focused on enterprise AI, productivity, sustainability, and resilience technologies. Amiral's portfolio includes investments in Maxa, Maket, and Boost Security, among others. The firm's offering consists of capital deployment (CAD 1-2 million initial investment per company, up to CAD 6-7 million total), hands-on operational support, board participation, and access to a network of 40+ experienced operator investors. Amiral also operates The Flagship Podcast and hosts ecosystem events such as North Star.
Differentiator
Problem solved
Functional benefit
Brands
- The Flagship Podcast: Weekly podcast connecting with founders and innovators in the Quebec tech ecosystem
- Amiral Fund I Limited Partnership
Products and services
- Amiral Fund I Limited Partnership Early-stage venture capital fund targeting late-seed and Series A enterprise technology companies with CAD 1.0-2.0 million initial investments per company (up to CAD 6.0-7.0 million total) across productivity, resilience, and sustainability themes. Limited partners include Investissement Québec, Desjardins Capital, and 40+ founder-operators.
Quantifiable outcome
- Fund I target: CAD 75 million with first close of CAD 40 million completed Q4 2025
- +3 more outcomes
Companies that use Amiral Ventures
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles2 records
Amiral Ventures technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Amiral Ventures partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered flagship and core.
- Mila (Quebec Artificial Intelligence Institute)flagshipMila is a cornerstone of Canada's AI ecosystem and global reference for responsible AI research. Amiral hosts events at Mila including 'The Rise of the Venture Scientist' and AI Salon, building bridges between researchers, founders, and investors. The partnership supports commercialization of world-class AI research into global companies.
- North Star Event PartnershipcoreNorth Star is a flagship event co-organized by Amiral Ventures celebrating Montreal's entrepreneurial ecosystem. The event brings together hundreds of founders, investors, operators, and students. The 2025 edition featured Shopify President Harley Finkelstein and generated positive ecosystem coverage including BetaKit reporting.
Scale indicators12 records
Recent moves7 records
Expansion highlights6 records
Amiral Ventures competitors and assessment
Company assessmentBroad incumbents
- BDC Capital: Canada's business development bank with a sizable venture arm investing across stages and sectors. Broad incumbent — much larger and more diversified than Amiral, but shares the mandate of supporting Canadian venture-scale companies.
Direct peers
- Inovia Capital: Montreal-headquartered early-to-growth stage venture firm investing across software, AI, and consumer. Direct peer — both are sector-aware Canadian VCs with overlapping AI theses and co-participation in the Mila AI Salon ecosystem.
- Brightspark: Canadian early-to-growth VC investing in software, AI, and consumer. Direct peer — co-participated in Mila AI Salon events with Amiral and shares the broader Canadian venture ecosystem and stage orientation.
- Golden Ventures: Toronto-based early-stage VC backing technical founders across Canada, including in AI and enterprise software. Direct peer — similar fund size, similar stage, and overlapping mandate to fund Canadian founders at seed/Series A.
- Version One Ventures: Vancouver-based seed-stage investor in mission-driven technology companies including AI and enterprise software. Direct peer — comparable fund size, Canadian-headquartered, similar founder-led, thesis-driven approach.
- Panache Ventures: Montreal-based seed VC investing across Canada in B2B SaaS, AI, and enterprise software. Direct peer — same city, comparable check size, and overlapping thesis on Canadian-led software companies.
- Real Ventures: Montreal-based seed and early-stage VC focused on founder-led, science- and AI-driven startups. Direct peer — same geography, similar stage, and overlapping thesis on AI and deep-tech commercialization out of Quebec's research ecosystem.
- White Star Capital: Montreal- and London-based early-stage VC investing in enterprise software, fintech, and digital media. Direct peer — co-invested with Amiral in Boost Security's $4M round and participated in the same Mila AI Salon events.
Others
- XPND Capital: Montreal-based growth equity firm that previously employed Amiral's Managing Partner Dominic Becotte. Adjacent — overlapping talent and Quebec ecosystem footprint, but operates at a different (growth) stage than Amiral.
Regional players
- Anges Québec: Quebec-based angel investor network with a Quebec-focused investment mandate. Regional peer — smaller, earlier-stage, and Quebec-anchored, with direct overlap given that Amiral's Managing Partner Frédéric Bastien serves as Chairman of the Board.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Amiral Ventures social profiles
Digital presenceAmiral Ventures financial estimates
Financial estimateRevenue estimate
Valuation estimate
Amiral Ventures leadership team
Management profileNumber of profiles
Profiles5 records
Amiral Ventures funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Amiral Ventures M&A and investment
M&A and investmentM&A
Investments4 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Amiral Ventures
What does Amiral Ventures do?
Amiral Ventures is a founder-led, founder-backed early-stage venture capital firm that invests CAD 1.0-2.0 million initial checks (up to CAD 6.0-7.0 million total per company) in late-seed and Series A technology companies. The firm manages the Amiral Fund I Limited Partnership (CAD 75M target, CAD 40M first close in Q4 2025) and provides capital alongside hands-on operational support, board participation, and access to a network of 40+ operator-investors. Investments focus on enterprise AI, productivity software, industrial IoT, autonomous robotics, cybersecurity, intelligent manufacturing, and sustainability technologies aligned with the firm's Prosperity Decoded thesis.
Is Amiral Ventures a public or private company?
Amiral Ventures is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Amiral Ventures founded?
Amiral Ventures was founded in 2025. It employs 1 to 10 people.
Where is Amiral Ventures based?
Amiral Ventures is headquartered in Montréal, Canada, in the North America region.
How does Amiral Ventures make money?
Two revenue lines are on record. Fund Management Fees are the primary driver. The others are carried Interest (Carry).
Who are Amiral Ventures's main competitors?
BDC Capital is listed as a broad incumbent. Direct peers are Inovia Capital, Brightspark, Golden Ventures, Version One Ventures, Panache Ventures, Real Ventures and White Star Capital. XPND Capital is listed as an others. Anges Québec is listed as a regional player.
Does Amiral Ventures have an API?
No public API is recorded for Amiral Ventures.
What industry is Amiral Ventures in?
Amiral Ventures's product category is Venture Capital. Its primary akta.pro industry code is FSANAAAD, Sector-Focused Venture Capital (Vertical Specialists), with a secondary code of FSANAJAN, SDG / Thematic Sustainable Investment Funds. Its NAICS code is 523940 and its SIC code is 6282.