About Panache Ventures
Panache Ventures is a venture capital firm founded in 2017. It is primarily based out of Montreal, Canada. As of Sep 2026, Panache Ventures is an active investor, having invested in 113 companies, with 10 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 Retail. Most recently it participated in the $***** Series A round of Daedal Systems Overall, Panache Ventures portfolio has seen 1 unicorn and 13 acquisitions including key companies like Tailscale, HyperComply and OnCall. A lot of funds co-invest with Panache Ventures, with names like Garage Capital sharing a substantial percentage of its portfolio. Panache Ventures has team of 16 people including 8 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 1 more
Portfolio Acquisitions
Portfolio Unicorns
Deals in last 12 months
Panache Ventures' List of Top Investments
Panache Ventures has a portfolio of 113 companies, one of which is a Unicorn. Their most notable investments are in SureBright and Beatdapp Software.Their portfolio spans across Canada, United States, United Kingdom and 3 more locations. They have invested in Enterprise Applications, High Tech, Retail and 30 other sectors, across stages such as Seed, Series A and 1 more. Here is the list of top investments by Panache Ventures:
1. Relay
Digital business banking platform that helps small businesses manage cash flow with multi-account structures. It lets businesses create multiple checking and savings accounts to organize cash flows by purpose—such as payroll, taxes, income, and operating expenses—giving owners clearer visibility and control over spending. It includes tools for issuing debit and credit cards, setting spending limits, automating expense categorization, managing payables and receivables, and integrating with accounting systems. It also offers savings features and cash management workflows intended to help businesses build reserves and improve financial discipline.
Key facts about Relay
- Founded Year: 2018
- Location: Toronto (Canada)
- Stage: Series C
- Total Funding till date: $102M
- Employee Count: 390 as on Aug 31, 2026
- Investors: Industry Ventures, Tribe Capital and 13 Others
- Latest Funding Round: Series C, May 19, 2026, $*****
- Highlight: Editors' Pick
2. Tailscale
VPN solutions based on wireguard protocol. The product uses multi-factor identification and single-sign-on technology for secure authentication. The features of the product include automatic key rotations, point-to-point connections, encryption, audit-compliant logging, etc. The product is available for Linux, iOS, Windows, Raspberry Pi and ARM.
Key facts about Tailscale
- Founded Year: 2019
- Location: Toronto (Canada)
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $275M
- Employee Count: 372 as on Aug 31, 2026
- Investors: Summit Partners, Uncork Capital and 11 Others
- Latest Funding Round: Series C, Apr 08, 2025, $*****
- Highlight: Editors' Pick
3. Certn
Provider of background screening and identity verification solutions for businesses. The company delivers criminal record checks, international background checks, and social media background checks. It offers employment verification, education verification, and credential verification. The business provides solutions for property management, healthcare, hospitality, transportation, staffing, and technology industries.
Key facts about Certn
- Founded Year: 2016
- Location: Victoria (Canada)
- Stage: Series B
- Total Funding till date: $125M
- Employee Count: 268 as on Aug 31, 2026
- Investors: Inovia Capital, BMO and 25 Others
- Latest Funding Round: Conventional Debt, Feb 18, 2025, $*****
- Highlight: Editors' Pick
4. ACTO
Provider of an AI and SaaS-based educational platform for the life science industry. The company has developed a digital platform with learning tools like SALESFitness which is a product that provides trading in clinical sales, MARKETINGFitness a centralized tool for life science marketing of new launches, MSLFitness provides engaging learning experiences and more. There are features for remote video coaching, user engagement tools, and AI-assisted tools for performance tracking.
Key facts about ACTO
- Founded Year: 2014
- Location: Toronto (Canada)
- Stage: Series B
- Total Funding till date: $39.5M
- Employee Count: 113 as on Aug 31, 2026
- Investors: Salesforce Ventures, Resolve Growth Partners and 10 Others
- Latest Funding Round: Series B, Sep 12, 2024, $*****
- Highlight: Editors' Pick
_1560141200156.png?format=webp&height=120&width=120){kind=logo}
5. Sanctuary AI
Developer of AI-powered general-purpose robots for industrial applications. The company focuses on creating robots with dexterity, tactile feedback, and fine manipulation capabilities. These robots are designed to mimic human movement and cognitive processes, enabling them to learn and interact with the world. The robots are built with strong torsos for industrial-grade tasks, completing tasks quickly and accurately.
Key facts about Sanctuary AI
- Founded Year: 2018
- Location: Vancouver (Canada)
- Stage: Series A
- Total Funding till date: $140M
- Employee Count: 159 as on Aug 31, 2026
- Investors: Workday Ventures, Conconi Growth Partners and 19 Others
- Latest Funding Round: Series A, May 26, 2026, $*****
- Highlight: Editors' Pick
Panache Ventures' Year-on-Year Investment Trends
Panache Ventures has invested in 114 companies over the last 8 years, with an average of 7 new investments annually in the last 5 years. In 2025, it made 6 investments, while as of Sep 2026, it has made 8 investments in this year. Its most recent first time investment was in Daedal Systems and most recent follow-on round was in Featherless.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 7 | 1 | 8 |
2025 | 6 | 0 | 6 |
2024 | 5 | 2 | 7 |
2023 | 3 | 2 | 5 |
2022 | 10 | 4 | 14 |
2021 | 12 | 6 | 18 |
2020 | 9 | 7 | 16 |
2019 | 11 | 1 | 12 |
2018 | 12 | 0 | 12 |
Panache Ventures' Investments by Stage
Panache Ventures has made 62 investments in Seed stage with an average round size of $2.95M, 12 investments in Series A stage with an average round size of $23.7M and 1 investment in Series D stage with an average round size of $227M.Stage of entry | No. of Investments |
|---|---|
Seed | 62 |
Series A | 12 |
Series D | 1 |
Note: We have considered here, only first round of investments
Panache Ventures' Investments by Sector
Panache Ventures has a diverse portfolio, with companies operating in the Enterprise Applications, Vertical SaaS, Consumer, High Tech and FinTech. Notably, it has invested in 100 Tech companies, 78 Enterprise (B2B) companies, 76 Software companies and at least 50 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Enterprise Applications | 50 |
Vertical SaaS | 16 |
Consumer | 15 |
High Tech | 13 |
FinTech | 12 |
Others | 84 |
Note: We have considered here, only first round of investments
Panache Ventures' Investments by Geography
Panache Ventures has made most investments in Canada (61), followed by United States where it has made 14 investments.Country | No. of Investments |
|---|---|
Canada | 61 |
United States | 14 |
Israel | 1 |
United Kingdom | 1 |
Note: We have considered here, only first round of investments
Panache Ventures' recent investments
Panache Ventures has made 8 investments in 2026 so far. Daedal Systems and Biossil are the latest among them.Here are the most recent investments by Panache Ventures:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Sep 28, 2026 | Canada | Series A | 8494 | [+3] | |
Sep 28, 2026 | Canada | Series A | 6775 | [+6] | |
May 18, 2026 | Canada | Series A | 1154 | [+5] | |
May 05, 2026 | United States | Seed | 7432 | [+2] | |
Apr 30, 2026 | United States | Series A | 1706 | [+4] |
Unicorns in Panache Ventures' Portfolio
Panache Ventures has 1 unicorn in its portfolio - Tailscale. The most recent unicorn in their portfolio is Tailscale which became a unicorn in 2022, 4 years before Panache Ventures first invested in it.Here is a list of unicorns in Panache Ventures' portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
72 | VPN solutions based on wireguard protocol | 2019 | Toronto | Series C | xcazdax |
Acquired companies in Panache Ventures' Portfolio
13 companies from Panache Ventures' portfolio have been acquired. The most recent acquisition was PurposeMed in Sep 2026 by Grindr for $*****.Here are Panache Ventures' portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Sep 30, 2026 | Mar 04, 2025 | Seed | 3871 | |
Sep 15, 2025 | - | - | 7467 | |
Aug 08, 2025 | Oct 14, 2021 | Seed | 6141 | |
Jan 06, 2025 | - | - | 3344 | |
Oct 08, 2024 | - | - | 2029 |
_1576665571229.png?devicePixelRatio=2&height=20&width=20){kind=logo}
Team profile of Panache Ventures
Panache Ventures has a team of 16 members including 8 Partners, 2 Venture Partners and 3 Principals located in Canada, India and 1 more location. Panache Ventures' team does not sit on the board of any company as of now.Here is a list of top team members in Panache Ventures:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Canada | - | ||
Partner | Canada | - | ||
Partner | Ottawa | - | ||
Partner | Montreal | - | ||
Partner | Bengaluru | - | ||
Partner | Montreal | - | ||
Partner | Toronto | - | ||
Partner | Montreal | - | ||
Venture Partner | Montreal | - | ||
Venture Partner | Chicago | - |
Co-investors of Panache Ventures
Over the past 8 years, 424 investors have co-invested in Panache Ventures's portfolio companies. This includes funds and angels.
- Invested before Panache Ventures: Techstars, Y Combinator and 27 others have invested in rounds before Panache Ventures. There are 4 companies where Techstars has invested before Panache Ventures and 3 companies where Y Combinator has invested before Panache Ventures.
- Top Co-investors of Panache Ventures: 229 investors entered a company along with Panache Ventures. These include investors like Garage Capital (7 companies).
- Invested after Panache Ventures: A total of 166 investors have invested in Panache Ventures's portfolio after their investments. Top Investors include Y Combinator (3 companies), Basement Fund (2 companies) and BDC (2 companies).
Recent News related to Panache Ventures
•
Nord Quantique Raises $30M in Funding, Valued at $1.4 BillionFinSMEs•May 18, 2026•Quantacet, Quantonation, BDC, Panache Ventures and 2 others
•
Ranger AI Raises $8.4M in Seed FundingFinSMEs•May 14, 2026•25madison, Panache Ventures, Bonfire Ventures, Inovia Capital
•
Instaswitch Secures $4.7 Million in Seed Funding for Business Banking Activation InfrastructureGlobal Fintech Series•May 06, 2026•Chicago Ventures, , 8-Bit Capital, Better Tomorrow Ventures and 1 other
•
Soma Energy Raises $7M in Pre-Seed and Seed FundingFinSMEs•Apr 03, 2026•TO VC, Haystack, Panache Ventures, Uncork Capital and 4 others
•
The Intelligent Search Company Raises US$2.1M in Pre-Seed FundingFinSMEs•Nov 26, 2025•N49P, Panache Ventures, OVO Fund, Tisc
•
AI impact measurement startup, Parable, raises $16.5 millionPR Newswire•Nov 05, 2025•Triple Impact Capital, SuperCharger Ventures, InMotion Ventures, Panache Ventures and 3 others
•
Parable Raises $11M in Seed FundingFinSMEs•Nov 04, 2025•HOF Capital, Triple Impact Capital, Supercharge Capital, InMotion Ventures and 3 others
•
Stablecoin Payment Provider Cybrid Completes $10 Million Series A FundingChainCatcher•Oct 22, 2025•Cybrid, Luge Capital, Golden Ventures, BDC and 3 others
•
Featherless.ai Raises $5M in Seed FundingFinSMEs•Mar 18, 2025•Featherless, Airbus Ventures, Kickstart Ventures, 500 Global and 6 others
•
