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Whitecap Venture Partners

Whitecap Venture Partners is a Toronto venture firm, founded in 1993, that leads seed and Series A rounds in Canadian B2B software and medtech. It closed a $140-million CAD fifth fund in December 2021, taking assets under management to about $365 million, and writes first cheques of $3 million to $10 million.

Venture capitalTorontoFounded 1993whitecapvp.com
$140M CADclosed for Fund V in December 2021, above a $125M targetBetaKit
$365M CADassets under management after Fund V closedBetaKit
$3M–$10Mtypical first cheque, targeting 7-10 core Series A deals per fundBetaKit

The people

What they build

Seed and Series A investment in Canadian B2B SaaS and medtech
Fund V ($140M CAD, closed December 2021)

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Working at Whitecap Venture Partners

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On the TechTO stage

Every talk is searchable — ask the archive about Whitecap Venture Partners

About

Whitecap Venture Partners has invested out of Toronto since 1993, making it one of the longer-running venture firms in Canada. It concentrates on early-stage B2B SaaS and medtech, targeting roughly seven to ten core Series A deals per fund with first cheques of $3 million to $10 million and reserves to reach $15 million to $20 million in a company over its life. Fund V closed at $140 million CAD in December 2021, above its $125-million target, and widened the firm's mandate from a two-and-a-half to three-hour flight radius of Toronto to all of Canada. Partner Shayn Diamond represented the firm on TechTO's Founders & Funding in April 2020, appearing with Wilfred Valenta of Silofit — a portfolio company Whitecap backed at seed — for the show's format of putting a founder and their investor on stage together. Diamond described the firm as primarily a fund investor with a small allocation held back for seed deals.

Backers

A venture fund rather than an operating company; its limited partners are not disclosed publicly.

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Quick answers

What does Whitecap Venture Partners invest in?

Early-stage B2B SaaS and medtech companies across Canada, at seed and Series A. Fund V expanded the firm's geography from a flight radius around Toronto to the whole country, including Western Canada.

How much does Whitecap invest per company?

First cheques of $3 million to $10 million, with the aim of investing $15 million to $20 million in a company over the life of the relationship, across roughly seven to ten core Series A deals per fund.

Who from Whitecap has spoken at TechTO?

Partner Shayn Diamond, on Founders & Funding on 2020-04-09, alongside Silofit founder Wilfred Valenta. He walked through how Whitecap came to lead Silofit's seed round after about six months of tracking the company.

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Maintained by TechTO · facts sourced and dated · last reviewed Aug 12, 2026