Ferst Capital Partners

Ferst Capital Partners targets seed and start-up rounds, typically being the first or second institutional check into a company. The firm focuses on rounds sized between roughly $500,000 and $2 million, positioning itself before a portfolio company raises a formal Series A. This stage bridges the gap between angel syndicates and larger Canadian or US venture funds.

The firm concentrates on enterprise software, financial technology, and applied artificial intelligence and machine learning tooling. Its investment thesis emphasizes B2B technology companies with early commercial traction, rather than consumer-facing applications or capital-intensive hardware plays.

Ferst is anchored in the Montreal technology ecosystem and prioritizes Quebec-founded companies. While its mandate may extend to other Canadian provinces opportunistically, the firm's sourcing network and partner presence are concentrated in Montreal, making out-of-province investments the exception rather than the rule.

The firm relies on a network of exited Montreal founders, technical executives, and local operators rather than formal accelerator demo days or banker-led auctions. This operator-first, geographically concentrated sourcing model means many of Ferst's portfolio companies are not broadly shopped before receiving the firm's term sheet.

Ferst typically leads or co-leads the rounds it participates in and takes an active board role post-investment. The firm does not operate as a passive co-investor alongside larger funds, preferring to structure and price the rounds it enters.