# Luge Capital

Luge Capital is a Private Equity based in Montreal, Canada.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Montreal, Canada
- **Region:** North America
- **Address:** Montreal, QC, Canada
- **Founded:** 2017
- **Assets under management:** Undisclosed
- **Website:** www.luge.vc
- **LinkedIn:** https://www.linkedin.com/company/luge-capital

## Regulatory record

- **Reports private funds:** No

## About

Luge Capital is a fintech focused venture capital fund, investing in early-stage teams shaping the way the world experiences financial services. We are an experienced team with value added investors and a deep industry network to help founders build successful companies.

## Sectors

- FinTech
- InsurTech
- Enterprise Software
- AI/ML

## Offices

- Toronto, ON, Canada

## People

- David Nault — General Partner
- Karim Gillani — General Partner

## Questions

### Who runs investment decisions at Luge Capital?

David Nault and Karim Gillani serve as the firm's General Partners and make investment decisions jointly. Both were early architects of the firm's relationship with Canadian insurance LPs, and they oversee the portfolio as a two-person partnership with no external investment committee disclosed publicly.

### How does Luge Capital source proprietary deal flow?

Luge's sourcing is structurally tied to its limited partners — major Canadian insurers and banks — who surface startups that address internal operational pain points. The firm also co-invests regularly alongside Portage Ventures and Diagram, two Montreal-based peers that operate in overlapping fintech and insurtech corridors, creating a tight, referral-driven origination network.

### What is Luge Capital's known posture on co-investments alongside external GPs?

Luge actively co-invests with other Canadian early-stage specialists, particularly Portage Ventures and Diagram. The firm does not lead rounds at scale but positions itself as a strategic co-investor with deep insurance-industry expertise that can accelerate enterprise adoption for portfolio companies selling into carriers and banks.

### Where does Luge Capital's underlying capital come from?

The firm's first fund was raised from iA Financial Group, Industrial Alliance, Sun Life Financial, and other undisclosed Canadian institutional LPs. Its second fund, raised in 2022, drew from a similar base of Canadian insurance and banking institutions, reinforcing a concentrated LP base that functions as both capital source and go-to-market partner for portfolio companies.

### Does Luge Capital participate in fund commitments or only direct deals?

Luge makes direct equity investments into early-stage companies and does not operate as a fund-of-funds. The firm has not disclosed any commitments to external venture funds, keeping its capital deployment entirely in primary seed and Series A rounds alongside peer co-investors.

## Related profiles

- [Lufthansa Innovation Hub](https://altss.com/profile/lufthansa-innovation-hub-gmbh)
- [Lulu Financial Holdings](https://altss.com/profile/lulu-financial-holdings)

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Last updated: 2026-06-03T20:00:00.000Z

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