About Panache Ventures
Panache Ventures is a venture capital firm founded in 2017. It is primarily based out of Montreal, Canada. As of May 2026, Panache Ventures is an active investor, having invested in 111 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 Retail. Most recently it participated in the $***** Series A round of Nord Quantique Overall, Panache Ventures portfolio has seen 1 unicorn and 12 acquisitions including key companies like Tailscale, Pathway and Flinks. A lot of funds co-invest with Panache Ventures, with names like BDC sharing a substantial percentage of its portfolio. Panache Ventures has team of 17 people including 7 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 111 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 29 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: 355 as on Apr 30, 2026
- Investors: General Catalyst, Industry Ventures and 12 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: 318 as on Apr 30, 2026
- Investors: Insight Partners, Summit Partners and 11 Others
- Latest Funding Round: Series C, Apr 08, 2025, $*****
- Highlight: Editors' Pick
3. 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: 111 as on Apr 30, 2026
- Investors: Resolve Growth Partners, Government of Canada and 10 Others
- Latest Funding Round: Series B, Sep 12, 2024, $*****
- Highlight: Editors' Pick
4. 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: 291 as on Apr 30, 2026
- Investors: Inovia Capital, Owl Capital Group and 25 Others
- Latest Funding Round: Conventional Debt, Feb 18, 2025, $*****
- Highlight: Editors' Pick
5. AON 3D
Manufacturer of industrial 3D printers based on stereolithography technology. It has designed and developed an industrial 3D printer for professional print bureaus, manufacturing companies, and research labs. The printer has two independent tool heads, which can either work in tandem or work independently to print dual coloured objects. It also comes with a copy of 3D slicing software and Raspberry Pi loaded with a customised version of Octoprint for full printer control over Wi-fi.
Key facts about AON 3D
- Founded Year: 2015
- Location: Montreal (Canada)
- Stage: Series A
- Total Funding till date: $14.2M
- Employee Count: 86 as on Apr 30, 2026
- Investors: Flucas Ventures, Ambridge Capital and 17 Others
- Latest Funding Round: Series A, Jan 29, 2026, $*****
Panache Ventures' Year-on-Year Investment Trends
Panache Ventures has invested in 112 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 May 2026, it has made 6 investments in this year. Its most recent first time investment was in Nord Quantique and most recent follow-on round was in Featherless.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 5 | 1 | 6 |
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 $3.31M, 10 investments in Series A stage with an average round size of $12.7M and 1 investment in Series D stage with an average round size of $227M.Stage of entry | No. of Investments |
|---|---|
Seed | 62 |
Series A | 10 |
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, Consumer, Vertical SaaS, FinTech and High Tech. Notably, it has invested in 99 Tech companies, 77 Enterprise (B2B) companies, 75 Software companies and at least 49 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Enterprise Applications | 48 |
Consumer | 17 |
Vertical SaaS | 15 |
FinTech | 12 |
High Tech | 11 |
Others | 78 |
Note: We have considered here, only first round of investments
Panache Ventures' Investments by Geography
Panache Ventures has made most investments in Canada (59), followed by United States where it has made 14 investments.Country | No. of Investments |
|---|---|
Canada | 59 |
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 6 investments in 2026 so far. Nord Quantique and InstaSwitch 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 |
|---|---|---|---|---|---|
May 18, 2026 | Canada | Series A | 7295 | [+5] | |
May 05, 2026 | United States | Seed | 2715 | [+2] | |
Apr 30, 2026 | United States | Series A | 6093 | [+4] | |
Apr 03, 2026 | Canada | Seed | 7881 | [+5] | |
Mar 18, 2026 | United States | Seed | 3057 | [+2] |
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 |
|---|---|---|---|---|---|---|---|
73 | VPN solutions based on wireguard protocol | 2019 | Toronto | Series C | ymtjlnh |
Acquired companies in Panache Ventures' Portfolio
12 companies from Panache Ventures' portfolio have been acquired. The most recent acquisition was HyperComply in Sep 2025 by SecurityScorecard 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 15, 2025 | - | - | 5759 | |
Aug 08, 2025 | Oct 14, 2021 | Seed | 8729 | |
Jan 06, 2025 | - | - | 4715 | |
Oct 08, 2024 | - | - | 1915 | |
Jul 18, 2024 | Apr 16, 2019 | Seed | 3957 |
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Team profile of Panache Ventures
Panache Ventures has a team of 17 members including 7 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 | Toronto | - | ||
Partner | Montreal | - | - | |
Partner | Bengaluru | - | - | |
Partner | Montreal | - | - | |
Partner | Montreal | - | - | |
Venture Partner | Montreal | - | ||
Venture Partner | Chicago | - | ||
Principal | Montreal | - |
Co-investors of Panache Ventures
Over the past 8 years, 416 investors have co-invested in Panache Ventures's portfolio companies. This includes funds and angels.
- Invested before Panache Ventures: Techstars, Y Combinator and 26 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: 223 investors entered a company along with Panache Ventures. These include investors like BDC (7 companies).
- Invested after Panache Ventures: A total of 165 investors have invested in Panache Ventures's portfolio after their investments. Top Investors include Y Combinator (3 companies), Graphite Ventures (2 companies) and Basement Fund (2 companies).
Recent News related to Panache Ventures
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Nord Quantique Raises $30M in Funding, Valued at $1.4 BillionFinSMEs•May 18, 2026•Quantacet, Quantonation, BDC, Panache Ventures and 2 others
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Ranger AI Raises $8.4M in Seed FundingFinSMEs•May 14, 2026•25madison, Panache Ventures, Bonfire Ventures, Inovia Capital
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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
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Soma Energy Raises $7M in Pre-Seed and Seed FundingFinSMEs•Apr 03, 2026•TO VC, Haystack, Panache Ventures, Uncork Capital and 4 others
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The Intelligent Search Company Raises US$2.1M in Pre-Seed FundingFinSMEs•Nov 26, 2025•N49P, Panache Ventures, OVO Fund, Tisc
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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
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Parable Raises $11M in Seed FundingFinSMEs•Nov 04, 2025•HOF Capital, Triple Impact Capital, Supercharge Capital, InMotion Ventures and 3 others
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Stablecoin Payment Provider Cybrid Completes $10 Million Series A FundingChainCatcher•Oct 22, 2025•Cybrid, Luge Capital, Golden Ventures, BDC and 3 others
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Featherless.ai Raises $5M in Seed FundingFinSMEs•Mar 18, 2025•Featherless, Airbus Ventures, Kickstart Ventures, 500 Global and 6 others
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