# Mistral Venture Partners

Mistral Venture Partners is a Venture Capital based in Ottawa, Canada.

## Overview

- **Organization type:** Venture Capital
- **Headquarters:** Ottawa, Canada
- **Region:** North America
- **Address:** Ottawa, ON, Canada
- **Founded:** 2013
- **Assets under management:** Undisclosed
- **Website:** mistral.vc
- **LinkedIn:** https://www.linkedin.com/company/mistralvc

## Regulatory record

- **Reports private funds:** No

## About

Mistral Venture Partners invests in founders building great companies, with a focus on helping them reach Product-Market Fit. The firm invests at Pre-Seed and Seed stages in Enterprise AI across Canada and the United States. Everyone on the team has been a founder of at least two startups.

## Sectors

- AI/ML
- FinTech
- FitTech

## Offices

- Toronto
- Vancouver
- Calgary
- California

## People

- Bernie Zeisig — Managing Partner
- Code Cubitt — Managing Director
- Pablo Srugo — Partner
- Raif Barbaros — Partner
- Mike Scanlin — Venture Partner
- Julien Kathiresan — Head of Finance

## Questions

### Who runs investment decisions at Mistral Venture Partners?

Managing Partner Bernie Zeisig leads the decision process, supported by Managing Director Code Cubitt and Partners Pablo Srugo and Raif Barbaros. All four have founder backgrounds, and the firm emphasizes consensus rooted in direct operating experience rather than a top-down IC model. Venture Partner Mike Scanlin contributes deal flow and due-diligence capacity from a prior track record at Battery Ventures and Sierra Ventures.

### How does Mistral source proprietary deal flow?

Mistral relies on a content-to-conversion pipeline centered on the Product Market Fit Show, a podcast that interviews founders about crossing the zero-to-PMF threshold. The show builds a founder-facing brand that doubles as an inbound sourcing channel. The partnership’s collective network across Canadian startup hubs — Ottawa, Toronto, Vancouver, Calgary — and the Bay Area provides a second thread of warm introductions.

### What investment stages does Mistral typically target?

Mistral targets pre-seed and seed rounds, explicitly positioning itself as the first institutional capital for founders searching for product-market fit. The firm’s public language draws a sharp line between PMF-hunting (where it invests) and post-PMF growth (where it does not seek lead roles). No later-stage or series-A-plus activity is advertised.

### What is Mistral’s known posture on co-investments alongside external GPs?

Mistral’s public materials do not describe a formal co-investment program or syndicate framework. The firm’s single-entity structure and small partnership headcount suggest that when it leads or participates in rounds, it does so as a direct investor rather than through a sidecar vehicle. External co-investors are not named on the site, leaving the matter unconfirmed.

## Related profiles

- [Mistral Equity Partners](https://altss.com/profile/mistral-equity-partners)
- [Mist Ventures](https://altss.com/profile/mist-ventures)

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Updated: 2026-08-11T15:07:26.757Z

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