# Inovia Capital Secures $200 Million for Sixth Early-Stage VC Fund Montréal-based firm targets AI-native startups to reach a $325 million final close. - **Source:** [BetaKit](https://betakit.com) - **Published:** 2026-10-19 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/43134782-b59f-473e-9682-f9b84b9b674e ## Initial Capital Milestone Reached Inovia Capital has successfully completed a $200 million USD first close for its sixth early-stage venture capital fund. This achievement brings the firm more than halfway toward its ultimate $325 million target. The fundraising process for this milestone took approximately six months, reflecting sustained interest from established institutional limited partners. ## Strategic Focus on AI The new fund is explicitly positioned as Inovia’s first completely AI-native investment vehicle. Partner Karamdeep Nijjar stated that every portfolio company will integrate artificial intelligence from day one. The investment scope covers emerging frontier technologies, specifically targeting sectors like cybersecurity, infrastructure, developer operations, energy, compute, robotics, and quantum computing fields. ## Institutional Investor Support Returning limited partners provided the capital for this first close, demonstrating continued trust in the firm's platform. Key backers include the Business Development Bank of Canada, La Caisse de dépôt et placement du Québec, and CIBC. Other notable participants include Fondaction, Fonds de solidarité FTQ, Investissement Québec, and Teralys Capital. ## Performance and Market Positioning Nijjar attributed the successful fundraising to the firm's historical performance and platform strength. Inovia’s fifth venture fund reportedly achieved top-quartile performance metrics compared to Cambridge Associates and Carta benchmarks. This success was driven by early investments in high-growth companies such as Cohere, Flare, Gaia, and the legal-tech startup Spellbook. ## Investment Scope and Leadership Inovia plans to execute 15 to 20 core investments in seed to Series A startups across North America and Europe. The fund will be managed by a team of six partners, including Karamdeep Nijjar, Magaly Charbonneau, Shawn Abbott, Kory Jeffrey, Taha Mubashir, and Steve Woods, overseeing the deployment of these assets. ## Sourcing Through Discovery Programs The firm intends to source new opportunities through its established Discovery Program for emerging managers. Inovia is currently developing the next iteration of this platform in collaboration with Northleaf Capital Partners. This initiative follows a previous $25 million fund-of-funds effort, though specific details regarding the new version remain undisclosed. ## Broader Asset Management Context This latest fundraising milestone brings Inovia’s total assets under management to $2.7 billion USD. The firm maintains a multi-stage approach, with its growth equity team recently raising $365 million toward a $450 million target. Additionally, Inovia is co-launching a $100 million Venture Scientist Fund in partnership with the Mila AI institute. ## Timeline and Future Outlook Inovia aims to reach the final $325 million target for its sixth fund by the first quarter of 2027. The strategy remains consistent with its predecessor, focusing on long-term value creation. By bridging the gap between seed-stage venture capital and growth equity, the firm continues to scale its specialized investment ecosystem. ## Sources covering this story - https://betakit.com/inovia-secures-200-million-usd-first-close-for-sixth-early-stage-vc-fund/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._