Amiral Fact Sheet
Amiral Fact Sheet
Amiral Fact Sheet
Our firm in a nutshell
About: Amiral Ventures is a founder-led, founder-backed early-stage venture capital firm, created by three seasoned veterans of the venture capital and technology industries. We lead funding rounds with both capital and hands-on expertise, dedicated to empowering exceptional entrepreneurs to build Canada’s next generation of flagship technology companies.
Backed by a collective of 40+ seasoned technology founders and operators, Amiral Ventures was built to deliver more than capital. Our approach is hands-on and conviction-driven: we partner with entrepreneurs at critical inflection points, providing strategic guidance, deep domain expertise, and access to a powerful network of operators, customers, and international partners.
Our inaugural fund, Amiral Fund I Limited Partnership, is focused on fueling globally competitive companies developing technologies that drive enterprise productivity, resilience, and sustainability - the pillars of tomorrow’s economy.
HQ: Amiral is based in Montreal, with a pan-Canadian focus and global reach.
Our Mission goes beyond helping Canadian innovators build great companies. We aim to help them build category-defining leaders - businesses that scale globally and establish Canada’s next generation of flagship enterprises.
Values: We share deep values that are driving our daily decisions. 1) Respect for the founder’s journey. We went through the entire process of building great companies ourselves! We know what you are going through. 2) Radical transparency. We believe that trust is built on openness. That means no hidden agendas, clear communication, and candid (and rapid) feedback - even when it’s uncomfortable. 3) Good is no longer good enough. Excellence is the new standard, and we surround ourselves with the best people, ideas, and practices to build category-defining companies.
Investment thesis
At Amiral, we invest in enterprise AI solutions that sit at the heart of the next industrial and digital revolution. Our focus is on technologies that drive enterprise productivity, resilience, and sustainability. We believe the companies that will define the future are those that empower businesses to do more with less, adapt to disruption, and operate responsibly in a resource-constrained world. From intelligent automation and Industry 5.0 solutions to platforms that reduce emissions and optimize energy use, we back founders building the tools that enterprises need to thrive in a rapidly changing global economy.
Productivity
Resilience
Sustainability
Context:
As younger leadership takes the reins across traditional industries, companies face persistent labour shortages and productivity gaps. This is accelerating the adoption of digital platforms and applied AI.
Context:
In a world of higher interest rates, inflation, supply chain disruptions, and geopolitical tensions, enterprises are investing heavily in technologies that make their operations smarter, safer, and more adaptable.
Context:
Enterprises are now measured against two bottom lines: profitability and carbon impact. Meeting sustainability goals has become both a regulatory requirement and a strategic imperative.
We invest in:
Software platforms that digitalize traditional verticals (construction, real estate, manufacturing, logistics, etc.);
Applied AI solutions tailored to specific domains, unlocking efficiency and measurable performance gains.
We invest in:
Industry 4.0/5.0 solutions including industrial IoT, autonomous robotics, AI, edge computing, augmented reality, and cybersecurity;
Intelligent manufacturing and logistics platforms that enhance flexibility, reduce risk, and strengthen continuity.
We invest in:
Technologies that help enterprises achieve their sustainability objectives — from carbon reduction to circular economy solutions;
Software and AI platforms that optimize energy use and manage emissions across global operations.
Productivity
Resilience
Sustainability
Context:
As younger leadership takes the reins across traditional industries, companies face persistent labour shortages and productivity gaps. This is accelerating the adoption of digital platforms and applied AI.
Context:
In a world of higher interest rates, inflation, supply chain disruptions, and geopolitical tensions, enterprises are investing heavily in technologies that make their operations smarter, safer, and more adaptable.
Context:
Enterprises are now measured against two bottom lines: profitability and carbon impact. Meeting sustainability goals has become both a regulatory requirement and a strategic imperative.
We invest in:
Software platforms that digitalize traditional verticals (construction, real estate, manufacturing, logistics, etc.);
Applied AI solutions tailored to specific domains, unlocking efficiency and measurable performance gains.
We invest in:
Industry 4.0/5.0 solutions including industrial IoT, autonomous robotics, AI, edge computing, augmented reality, and cybersecurity;
Intelligent manufacturing and logistics platforms that enhance flexibility, reduce risk, and strengthen continuity.
We invest in:
Technologies that help enterprises achieve their sustainability objectives — from carbon reduction to circular economy solutions;
Software and AI platforms that optimize energy use and manage emissions across global operations.
Target geography: 50% Quebec / 50% Canada
Investment criteria
Our criteria are simple: great people, bold ideas, demonstrated traction and the determination to scale beyond borders.
Team Criteria:
Exceptional leaders drive exceptional outcomes.
Product vision and technical depth at the core.
Cohesion that turns a team into a winning unit.
Shared values and aligned interests from the start.
Global ambitions, no local limit.
Magnetism to attract and work with the very best.
Business criteria:
Clear product value proposition and proven market fit.
Ability to deliver superior, differentiated returns.
The right timing to capture market inflection points.
Global scalability baked into the business.
The Amiral value creation formula can be a catalyst or game-changer.
Creation of sustainable economic surplus, not just short-term wins.
Financial criteria:
High double-digit growth, consistently.
Reliable traction proven through clear and extensive data.
A scalable business model ready for expansion.
CAD 0.5M to 2.0 million in revenues at entry - what we call the inflection point.
Strong and profitable unit economics that stand the test of scale.
Investment criteria
Between CAD 1.0 and 2.0 million initial investment per company (in a round of CAD 2.0 to 4.0 million), up to a total investment of CAD 6.0 - 7.0 million per company.
Minority stakes with meaningful influence (10-20%).
Valuations grounded in real market comparables.
Active and constructive governance with board participation.
Potential for Amiral team engagement to unlock growth.
Partnership terms designed for upside, protection, and constructive exits.
Capital strategy
Targeted fund size: CAD 75 million with a first closing of CAD 40 million completed in Q4 2025.
Stage: We invest at the inflection point - the most exciting and critical moment in a company’s journey. Specifically, we focus on late-seed and Series A rounds, where founders have proven their concept and technology and are ready to transform early wins into lasting scale. At this stage, startups are no longer chasing validation - they are chasing growth, market leadership, and global ambition. They are building customer traction, expanding their teams, and defining their categories. This is where we come in. We typically lead the first major round, bringing not only capital but also conviction, expertise, and hands-on partnership. Our role is to help founders turn traction into momentum, and momentum into the foundations of a category-defining company.
Number of Portfolio Companies: About 15 carefully selected investments, balancing concentration and diversification.
Initial Check Size: CAD 1.0 to 2.0 million per company, typically within total equity rounds of CAD 2.0 to 5.0 million. We prefer to lead or co-lead financings and leverage our extensive network of local and global co-investors to complete the rounds we initiate.
Total Investment per Company: Up to CAD 6.0 - 7.0 million over the life of the fund, including follow-ons.
Ownership: Targeting 10–20% influential stakes, with board participation and active involvement.
Capital Reserve: 50–60% of the fund is earmarked for follow-on investments to double down on top performers.
Investment process
Our investment process combines strategic insight with disciplined analysis through a two-phase approach that balances conviction with verification.
Phase I: Strategic, Business, Product, and Technology Due Diligence
The first phase focuses on developing a deep understanding of the company’s business fundamentals and growth potential. We assess the market opportunity, competitive dynamics, and scalability of the business model, as well as the capabilities, alignment, and vision of the founding team. A key emphasis is placed on the product and technology - evaluating the clarity of the problem being solved, the uniqueness and defensibility of the solution, and the maturity of the technology stack.
We also assess product-market fit, analyzing customer adoption, value proposition, retention metrics, and the company’s ability to convert early traction into sustainable growth. This phase allows us to build conviction in the strategic positioning, long-term potential, and partnership quality of the opportunity.
Phase II: Confirmatory Due Diligence
Following initial conviction, we enter a confirmatory phase focused on financial, legal, and operational validation. This may include a detailed quality of earnings (QofE) review, verification of financial performance and accounting practices, assessment of legal documentation, and evaluation of corporate governance and risk factors. External advisors are typically engaged to support this phase and ensure a comprehensive, independent review.
Together, these two phases ensure that our investment decisions are grounded in both strategic conviction and empirical validation - aligning with our disciplined, partnership-driven investment philosophy.
Amiral value proposition
At Amiral, we bring more than capital - we bring decades of experience as investors, operators, financial architects, and global business leaders. Collectively, we’ve built, scaled, and exited technology companies across continents, while mentoring dozens of founders through their toughest inflection points. Our value proposition is simple: we know what it takes to transform early traction into global scale, and we stand ready to help founders do just that.
Successful investors:
Invested in nearly 50 different companies as angels or VCs, generating over $5 billion in enterprise value.
Hands-on mentoring and board of directors experience with 100+ companies.
Successfully architected multiple exits to strategics, PE acquirers and IPOs.
Experienced operators with deep product and technical expertise:
Built software companies at the cutting edge of technology including AI, IoT & smart industry.
Navigated through company pivots and the entire journey pre and post product-market-fit.
Scaled high-velocity engineering teams, managed product roadmaps and $100 million+ R&D budgets.
Financial engineers:
Managed dozens of M&A transactions (buy side & sell side).
Raised over $150 million in venture capital as founders and general partners.
Engineered every possible strategic financing situation - from restructuring to VC, PE and IPOs.
Battle-tested business leaders:
We hired, fired and trained dozens of C-level executives.
Recruited, developed, and mentored leadership teams that delivered exceptional results.
Fostered cultures of excellence and sound governance in fast-paced environments.
Global growth playbook:
Lived and operated in Asia, Europe and North America. Travelled for business in 80+ countries.
Built high-performing global sales teams across four continents, generating 90% of sales internationally
Successfully scaled both product-led and sales-led strategies to penetrate new markets and increase revenue.