About Graphite Ventures
Graphite Ventures is a venture capital firm founded in 2008. It is primarily based out of Toronto, Canada. As of Jul 2026, Graphite Ventures is an active investor, having invested in 163 companies, with 9 new investments in the last 12 months. It primarily invests in Seed round in Canada based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to High Tech and FinTech. Most recently it participated in the $***** Series A round of InsideDesk Overall, Graphite Ventures portfolio has seen 2 unicorns, 5 IPOs and 26 acquisitions including key companies like Instacart, Whoop and Varicent. A lot of funds co-invest with Graphite Ventures, with names like MaRS IAF sharing a substantial percentage of its portfolio. Graphite Ventures has team of 10 people including 2 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 1 more
Portfolio Unicorns
Portfolio Soonicorns
Deals in last 12 months
Graphite Ventures' List of Top Investments
Graphite Ventures has a portfolio of 163 companies, including 2 unicorns. Their most notable investments are in InfinitySPM and Loop Financial.Their portfolio spans across Canada, United States, United Kingdom and 3 more locations. They have invested in Enterprise Applications, High Tech, FinTech and 30 other sectors, across stages such as Seed, Series A and 1 more. Here is the list of top investments by Graphite Ventures:1. Instacart
Operator of an online marketplace providing grocery and delivery services. The platform connects customers with personal shoppers who fulfill orders from various retailers. Customers can select items, chat with shoppers, and schedule delivery or pickup. The marketplace offers a range of grocery, household, and other retail products. It also provides options for membership and business accounts.
Key facts about Instacart
- Founded Year: 2012
- Location: San Francisco (United States)
- Annual Revenue: $1B+ as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $2.93B
- Employee Count: 24,771 as on May 31, 2026
- Investors: TCV, TrueBridge and 85 Others
- Latest Funding Round: Series F, Oct 15, 2021, $*****
- Highlight: Public
2. Whoop
Provider of wearable trackers to monitor fitness data. The devices track sleep patterns, strain levels, recovery metrics, and stress indicators. The data collected helps users make informed decisions regarding their fitness, health, and lifestyle choices. The fitness trackers offer insights into sleep optimization, activity tracking, and personalized guidance based on individual cycles.
Key facts about Whoop
- Founded Year: 2012
- Location: Boston (United States)
- Valuation: $*****
- Stage: Series G
- Total Funding till date: $979M
- Employee Count: 1,481 as on May 31, 2026
- Investors: Trinity Capital, Mubadala and 69 Others
- Latest Funding Round: Series G, Mar 31, 2026, $*****
- Highlight: Editors' Pick
3. Top Hat
Provider of interactive learning software for higher education course management. This platform facilitates student engagement through digital tools including polling, quizzes, and interactive textbooks. It integrates with learning management systems to track attendance, monitor student performance, and deliver course content. The software includes artificial intelligence features to assist with assessment creation and study support. Educators use these tools to manage classroom activities and identify learning gaps through data analytics.
Key facts about Top Hat
- Founded Year: 2009
- Location: Toronto (Canada)
- Stage: Series E
- Total Funding till date: $200M
- Employee Count: 469 as on May 31, 2026
- Investors: Western Technology Investment, Teralys Capital and 19 Others
- Latest Funding Round: Series E, Feb 04, 2021, $*****
- Highlight: Editors' Pick
4. Varicent
Provider of incentive compensation management solutions for enterprises. It provides incentive compensation management and sales performance management solutions for finance, sales, human resources, and IT departments. The solutions include incentive management, performance management, and others. The enterprises can set territories and quotas for sales teams and design complex compensation plans based on various factors. It offers embedded AI and GenAI assistants that help analyze data, optimize plans, and uncover revenue opportunities.
Key facts about Varicent
- Founded Year: 2003
- Location: Toronto (Canada)
- Stage: Acquired
- Total Funding till date: $49M
- Employee Count: 666 as on May 31, 2026
- Investors: Royal Bank of Canada, Industry Ventures and 7 Others
- Latest Funding Round: PE, Jul 16, 2024, $*****
- Highlight: Acquired
Developer of image guided prostate ablation system for cancer treatment. The company uses proprietary technology and provide TULSA-PRO is an AI-powered, MRI-guided, incision-free robotic ablation system for the ablation of prostate tissue.
Key facts about Profound Medical
- Founded Year: 2008
- Location: Toronto (Canada)
- Annual Revenue: $10M - $50M as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $37.7M
- Employee Count: 189 as on May 31, 2026
- Investors: Stifel, FedDev Ontario and 11 Others
- Latest Funding Round: Post IPO, Dec 19, 2025, $*****
- Highlight: Public
Graphite Ventures' Year-on-Year Investment Trends
Graphite Ventures has invested in 163 companies over the last 4 years, with an average of 7 new investments annually in the last 3 years. In 2025, it made 5 investments, while as of Jul 2026, it has made 6 investments in this year. Its most recent first time investment was in TimeSmart.AI and most recent follow-on round was in InsideDesk.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 4 | 2 | 6 |
2025 | 5 | 0 | 5 |
2024 | 6 | 1 | 7 |
2023 | 9 | 1 | 10 |
2022 | 9 | 0 | 9 |
Graphite Ventures' Investments by Stage
Graphite Ventures has made 24 investments in Seed stage with an average round size of $2.3M, 7 investments in Series A stage with an average round size of $11.2M and 2 investments in Series B stage with an average round size of $8.83M.Stage of entry | No. of Investments |
|---|---|
Seed | 24 |
Series A | 7 |
Series B | 2 |
Note: We have considered here, only first round of investments
Graphite Ventures' Investments by Sector
Graphite Ventures has a diverse portfolio, with companies operating in the Enterprise Applications, HealthTech, Vertical SaaS, FinTech and High Tech. Notably, it has invested in 142 Tech companies, 126 Enterprise (B2B) companies, 96 Software companies and at least 65 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Enterprise Applications | 21 |
HealthTech | 8 |
Vertical SaaS | 8 |
FinTech | 6 |
High Tech | 6 |
Others | 32 |
Note: We have considered here, only first round of investments
Graphite Ventures' Investments by Geography
Graphite Ventures has made most investments in Canada (31), followed by United States where it has made 2 investments.Country | No. of Investments |
|---|---|
Canada | 31 |
United States | 2 |
Note: We have considered here, only first round of investments
Graphite Ventures' recent investments
Graphite Ventures has made 6 investments in 2026 so far. InsideDesk and TimeSmart.AI are the latest among them.Here are the most recent investments by Graphite Ventures:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Jul 15, 2026 | Canada | Series A | 4713 | [+1] | |
Apr 01, 2026 | Canada | Seed | 1263 | [+2] | |
Mar 31, 2026 | Canada | Seed | 1186 | ||
Feb 09, 2026 | Canada | Seed | 3646 | ||
Jan 27, 2026 | United States | Seed | 2887 |
Unicorns in Graphite Ventures' Portfolio
Graphite Ventures has 2 unicorns in its portfolio - StackAdapt and Whoop. The most recent unicorn in their portfolio is StackAdapt. It became a unicorn in 2025, 1 years before Graphite Ventures first invested in it.Here is a list of unicorns in Graphite Ventures' portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
70 | Provider of an AI-powered platform for digital advertising campaign management | 2014 | Toronto | Series B | {{jlffz | ||
78 | Provider of wearable trackers to monitor fitness data | 2012 | Boston | Series G | ygazypl |
IPOs and Publicly Listed companies in Graphite Ventures' Portfolio
5 of Graphite Ventures' portfolio companies have become public. Conavi got listed on the Toronto Stock Exchange - Venture Exchange (TSX-V), in Oct 2024 and Instacart got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ) at marketcap of $8.3B.Here are Graphite Ventures' portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Oct 16, 2024 | - | - | 2336 | |
Sep 19, 2023 | - | - | 5149 | |
Nov 21, 2022 | - | - | 3005 | |
May 17, 2017 | - | - | 9390 | |
Jan 07, 2000 | - | - | 9711 |
Acquired companies in Graphite Ventures' Portfolio
26 companies from Graphite Ventures' portfolio have been acquired. The most recent acquisition was VXG in May 2026 by Octave for $*****.Here are Graphite Ventures' portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
May 05, 2026 | - | - | 1682 | |
Apr 03, 2026 | - | - | 5340 | |
Mar 25, 2026 | - | - | 6318 | |
Oct 28, 2025 | Sep 14, 2022 | Series B | 4077 | |
Aug 18, 2025 | Sep 14, 2023 | Seed | 5276 |
Team profile of Graphite Ventures
Graphite Ventures has a team of 10 members including 2 Partners and 3 Principals located in Canada and United States. Graphite Ventures' team sits on the board of 2 companies.Here is a list of all team members in Graphite Ventures:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Ottawa | - | ||
Partner | Ottawa | - | ||
Principal | Calgary | - | ||
Principal | Waterloo | |||
Principal | Toronto | - |
Co-investors of Graphite Ventures
Over the past 4 years, 145 investors have co-invested in Graphite Ventures's portfolio companies. This includes funds and angels.
- Invested before Graphite Ventures: MaRS IAF, BDC and 53 others have invested in rounds before Graphite Ventures. There are 7 companies where MaRS IAF has invested before Graphite Ventures and 4 companies where BDC has invested before Graphite Ventures.
- Top Co-investors of Graphite Ventures: 72 investors entered a company along with Graphite Ventures. These include investors like MaRS IAF (5 companies).
- Invested after Graphite Ventures: A total of 18 investors have invested in Graphite Ventures's portfolio after their investments. Top Investors include Canadian Imperial Bank of Commerce (3 companies), Beauchampco (1 company) and Threshold (1 company).
Recent News related to Graphite Ventures
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InsideDesk Secures $12.6 Million Growth Financing Led by Pender VenturesPR Newswire•Jul 15, 2026•MB2 Dental Solutions, InsideDesk, Pender Ventures, Graphite Ventures and 1 other
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TimeSmartAI Closes Additional FundingFinSMEs•Apr 01, 2026•Time Champ, Graphite Ventures, Mars Investment
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Cyder Secures $3M Seed Round to Fuel Growth of Credit Union Loyalty PlatformFintech.ca•Jan 27, 2026•Sprout Fund, Cyder, Graphite Ventures, Conexus Venture Capital and 1 other
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Brickeye Raises $10M Series B FundingFinSMEs•Jan 20, 2026•Beauchampco, GreenSky, Graphite Ventures, Brickeye and 2 others
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Tracktile Secures $1.25M Seed Funding Led by BDC Seed Venture Fund and Island Capital PartnersRetail Technology Innovation Hub•Dec 08, 2025•Orchid Island Capital, Tracktile, Graphite Ventures, BDC and 2 others
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Mycroft launches with $3.5M to bring agentic AI to security and complianceSiliconAngle•Sep 22, 2025•superwhisper, Los Angeles Unified School District, Wise Docs Tech, US Department of Labor and 11 others
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CIBC Innovation Banking Provides Growth Capital Financing to MedMe HealthBusiness Wire•Aug 20, 2025•MedMe Health, Canadian Imperial Bank of Commerce, Graphite Ventures, M12 and 2 others
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Trusty Secures $1M to Revolutionize Estate Planning Through AIFintech.ca•Jul 15, 2025•Graphite Ventures, Relay Ventures, Mistral, Trusty
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Loop Raises $4.7 Million for Small Business Money Movement ServicePYMNTS.com•Sep 17, 2024•Loop Financial, Luge Capital, Graphite Ventures, Conconi Growth Partners and 3 others
