Canadian Venture Studio landscape

October 2023

A total of 24 studios spread across 7 provinces in Canada


The number of studios in Canada varies depending on the data sources used, but we have identified 24 of them, with 7 located in Quebec.

Alongside well-established studios like Diagram Ventures and TandemLaunch, there are four newcomers: Innovobot Studio, Momentum Ventures, QV Studio, and recently Pre-Amp.

Additionally, there’s Highline Beta, a pan-Canadian organization headquartered in Toronto with a strong connection to the Quebec ecosystem.

Recently, two organisations in Quebec, Centech (in 2022) and McGill (in 2023), entered into a partnership agreement with BXVentures Canada, a venture studio dedicated to the creation and expansion of CleanTech solutions[1].

Below is an overview of the currently active venture studios with a presence in Canada:

Sources : Enhance Innovation,Studio Hub, Pitchbook, Crunchbase, Réseau Capital



While the number of studios is relatively small compared to the broader landscape of the Canadian investment ecosystem, their impact remains significant across various dimensions.

Here is an overview of high-profile startups originating from studios:

Sources : Narwal List 2023, Pitchbook, Crunchbase, LinkedIn, Réseau Capital



Based on the data we’ve gathered, Quebec stands out favorably in comparison to other provinces. Specifically, Quebec is home to 29% of the currently operational studios in Canada.

Sources : Pitchbook, Crunchbase, Réseau Capital


With substantial contributions from Diagram Ventures and TandemLaunch, Quebec is home to 34 % of startups originating from Canadian studios currently in their portfolio. Furthermore, Quebec accounts for a substantial 53% of the total exits.

Sources : Pitchbook, Crunchbase, Réseau Capital





Why did we decide to create a dossier on venture studios?

The concept of venture studio, also known as a startup studio, startup foundry, or venture builder, is rapidly gaining traction in the world of venture capital, and Quebec is no exception. While discussing this concept with members of Réseau Capital, we recognized that this unique model, which combines both startup creation and funding, can contribute as a complementary force to strengthen critical elements within the financing value chain. These elements include deal flow, talent acquisition, the involvement of corporations in venture capital, talent circulation, and research commercialization. All of which currently significant challenges to Quebec’s funding ecosystem.

Through some research, we discovered that Quebec has a thriving community of studios, many of which, in our humble opinion, are well-kept secrets. Thus, we decided to shed light on these homegrown Québec studios. Over a series of articles, we will delve into the landscape of these organizations, explore the opportunities inherent in this model, and introduce the individuals and entities that have embraced it.

We would like to thank Gilles Duruflé and Sébastian Boisjoly from Station FinTech for their collaboration on this series of articles.