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Cycle Capital

Montreal, QCCYCLE-CAPITAL
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Classification
Slugcycle-capital
HQMontreal, QC
Stage FocusSeries A to growth stage cleantech companies, with partic…
Intel StatusAccepting submissions
🔥 BERNIE'S HOT TAKE

Cycle Capital is the real deal in Canadian cleantech — they've been doing this since before it was cool and have the exits to prove it. Méthot is incredibly well-connected in government circles, which matters a lot for cleantech companies navigating subsidies and regulations. They're genuinely helpful post-investment and understand the long development cycles in this space. The downside? They can be slow to move and very focused on the Canadian market, which might limit global ambitions. Also, their fund sizes are relatively modest, so don't expect massive follow-on rounds.

KEY TAKEAWAYS
  • Best for: Canadian cleantech companies needing government relations expertise
  • Watch out for: Slower decision-making and Canada-centric network
  • Known for: Deep sector expertise and strong exit track record in climate tech
Investment Thesis

Cycle Capital focuses on cleantech and sustainability investments, particularly in energy transition, circular economy, and climate solutions. They target companies developing technologies to reduce carbon emissions and create more sustainable industrial processes.

Stage & Sector Focus

Series A to growth stage cleantech companies, with particular strength in energy storage, renewable energy infrastructure, waste-to-value technologies, and industrial decarbonization solutions. Portfolio skews heavily toward B2B hardware and software in the climate space.

Notable Portfolio
EnerkemHatchMorgan SolarAxine Water TechnologiesCarbicreteLi-CycleNouveau Monde GraphiteRanovus
Key Partners
Andrée-Lise Méthot
Managing Partner

Former venture capitalist at Technocap and entrepreneur. Known as one of Canada's most prominent cleantech investors with strong government and corporate connections. Founders appreciate her deep sector knowledge but note she can be very hands-on.

Jean-François Rioux
Partner

Engineering background with previous experience in cleantech operations and business development. Less visible publicly but respected for technical diligence. Works closely with portfolio companies on operational scaling.

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