About True North Fund
True North Fund is a venture capital firm founded in 2023. It is primarily based out of Waterloo, Canada. As of Nov 2025, True North Fund is an active investor, having invested in 5 companies, with 1 new investment 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 Consumer and Retail. Most recently it participated in the $***** Series I round of Faire Overall, True North Fund portfolio has seen 1 unicorn and 2 acquisitions, namely Arctic Wolf, Humi HR and PurposeMed. A lot of funds co-invest with True North Fund, with names like Panache Ventures sharing a substantial percentage of its portfolio. True North Fund has team of 4 people including 3 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed & Series I
Portfolio Acquisitions
Portfolio Unicorns
Portfolio Soonicorns
Deals in last 12 months
True North Fund's List of All Investments
True North Fund has a portfolio of 5 companies, one of which is a Unicorn. Their most notable investmentis in PurposeMedTheir portfolio spans across Canada and United States. They have invested in Enterprise Applications, Consumer, Retail and 5 other sectors, across stages such as Seed, Series I stages. Here is the list of all investments by True North Fund:1. Faire
Online wholesale marketplace connecting retailers with brands to facilitate direct purchases. It is an online wholesale marketplace that connects retailers with brands, allowing them to discover new products and streamline their purchase process through a user-friendly platform. The company facilitates wholesale buying and ordering across various product categories, serving both retailers and brands.
Key facts about Faire
- Founded Year: 2017
- Location: San Francisco (United States)
- Valuation: $*****
- Stage: Series I
- Total Funding till date: $1.7B
- Employee Count: 5,161 as on Aug 31, 2026
- Investors: equitywestsecurities.com, Baillie Gifford and 27 Others
- Latest Funding Round: Series I, Nov 17, 2025, $*****
- Highlight: Editors' Pick
2. Arctic Wolf
Provider of managed detection, incident response, and security awareness solutions. The company offers risk management, endpoint security, and cloud security posture management. It delivers security operations through its platform and concierge delivery model. The company provides cyber insurance, security operations warranty, and cyber jumpstart programs.
Key facts about Arctic Wolf
- Founded Year: 2012
- Location: Eden Prairie (United States)
- Valuation: $*****
- Stage: Series G
- Total Funding till date: $879M
- Employee Count: 3,292 as on Sep 30, 2026
- Investors: Adams Street Partners, Owl Rock and 33 Others
- Latest Funding Round: Series G, Oct 06, 2022, $*****
- Highlight: Editors' Pick
3. Clutch
Online-first dealer of used cars. It buys cars from private owners, reconditions, and sells online after verification and testing. It also allows individuals to list cars for sale or to browse and purchase cars from other sellers. It also offer guranatee and return program.
Key facts about Clutch
- Founded Year: 2016
- Location: Toronto (Canada)
- Stage: Series D
- Total Funding till date: $167M
- Employee Count: 485 as on Aug 31, 2026
- Investors: Canaan, Neuberger Berman and 16 Others
- Latest Funding Round: Series D, Jan 03, 2025, $*****
- Highlight: Editors' Pick
4. Humi HR
Provider of human resources, payroll, benefits, and hiring software solutions. The platform offers automated payroll calculations, compliance assistance, and managed payroll services. It centralizes employee data, streamlines onboarding, and provides tools for time and attendance tracking. The company also facilitates employee benefits management and offers HR advisory services.
Key facts about Humi HR
- Founded Year: 2016
- Location: Toronto (Canada)
- Stage: Acquired
- Total Funding till date: $33.2M
- Employee Count: 118 as on Sep 30, 2026
- Investors: Decheng Capital, MaRS Discovery District and 23 Others
- Latest Funding Round: Series B, Dec 26, 2022, $*****
- Highlight: Acquired
5. PurposeMed
Key facts about PurposeMed
- Founded Year: 2019
- Location: Calgary (Canada)
- Stage: Acquired
- Employee Count: 150 as on Aug 31, 2026
- Investors: Azure Capital Partners, Panache Ventures and 2 Others
- Latest Funding Round: Seed, Mar 04, 2025, $*****
- Highlight: Acquired
True North Fund's Year-on-Year Investment Trends
In 2025, it made 2 investments. Its most recent first time investment was in Faire.True North Fund's Investments by Stage
True North Fund has made 1 investment in Seed stage and 1 investment in Series I stage with an average round size of $100M.True North Fund's Investments by Sector
True North Fund has a diverse portfolio, with companies operating in the Consumer, HealthTech and Retail. Notably, it has invested in 5 Tech companies, 3 Enterprise (B2B) companies, 2 Consumer (B2C) companies and at least 2 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Consumer | 1 |
HealthTech | 1 |
Retail | 1 |
Note: We have considered here, only first round of investments
True North Fund's Investments by Geography
True North Fund has made most investments in Canada (1), followed by United States where it has made 1 investment.True North Fund's recent investments
True North Fund has not made any investment in 2026 so far.Here are the most recent investments by True North Fund:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Nov 17, 2025 | United States | Series I | 4760 | - | |
Mar 04, 2025 | Canada | Seed | 4213 | [+1] |
Unicorns in True North Fund's Portfolio
True North Fund has 1 unicorn in its portfolio - Arctic Wolf. The most recent unicorn in their portfolio is Arctic Wolf which became a unicorn in 2022, 4 years before True North Fund first invested in it.Here is a list of unicorns in True North Fund's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
64 | Provider of managed detection, incident response, and security awareness solutions | 2012 | Eden Prairie | Series G | woafvfh |
Acquired companies in True North Fund's Portfolio
2 companies from True North Fund's portfolio have been acquired. The most recent acquisition was PurposeMed in Sep 2026 by Grindr for $*****.Here are True North Fund's 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 | |
Jan 08, 2025 | - | - | 6913 |
Team profile of True North Fund
True North Fund has a team of 4 members including 3 Partners located in Canada and United States. True North Fund's team sits on the board of 2 companies.Here is a list of all team members in True North Fund:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Canada | |||
Partner | San Francisco | |||
Partner | Ottawa | - |
Co-investors of True North Fund
Over the past year, 19 investors have co-invested in True North Fund's portfolio companies. This includes funds and angels.
- Invested before True North Fund: Kirsten Green, Forerunner Ventures and 15 others have invested in rounds before True North Fund. There is 1 company where Kirsten Green has invested before True North Fund and 1 company where Forerunner Ventures has invested before True North Fund.
- Top Co-investors of True North Fund: 2 investors entered a company along with True North Fund. These include investors like Panache Ventures (1 company).
Recent News related to True North Fund
•
B2B marketplace Faire reaches $5.2 billion valuationDigitalCommerce360•Dec 05, 2025•Faire, WCM Investment Management, Baillie Gifford, True North Fund
•
True North Fund Completes Fourth Investment in Canada's Second Fastest Growing Technology Company, PurposeMedFinancial Post•Mar 04, 2025•True North Fund, Panache Ventures
•
True North Fund Completes Second Close; Chris Albinson to Become Full-Time Managing PartnerFinancial Post•Oct 29, 2024•True North Fund
•
True North Fund Completes Second Close; Chris Albinson to Become Full-Time Managing PartnerBusiness Wire•Oct 29, 2024•True North Fund
