Montreal is a top 5 game dev city in the world with 97 gaming startups and 22 funded. These 12 investors are actively writing checks into Montreal game studios and gaming tech right now.
Montreal's gaming scene is the largest in Canada and one of the most recognized globally. Ubisoft, EA, Warner Bros. Games, and Square Enix all have major studios here. That concentration of talent creates deal flow for investors who know how to evaluate gaming companies.
But gaming VC is more selective in 2026 than it was in 2021. Investors want gaming infrastructure, tools, and platform plays over pure game studios. If you're building the technology that helps games get made, distributed, or monetized - you'll get more meetings than if you're pitching a single game title.
For studios that do raise, Quebec's tax credit structure helps. Up to 37.5% of labor costs can be covered by provincial credits. Investissement Québec and Fonds FTQ both treat this as a structural advantage when evaluating Quebec gaming companies.
Before you pitch any of these 12 gaming investors, set up an Ellty data room with your pitch, financial model, and KPI dashboard. Send each investor a unique trackable link. You'll see who opens your revenue data vs. who just skims the game screenshots.
| Stage | Check size | Sector focus | Contact | |
|---|---|---|---|---|
| Triptyq Capital | Pre-seed, Seed | Up to $2M | Gaming, AR/VR, creator economy | triptyq.vc |
| Konvoy Ventures | Seed, Series A | $500K-$5M | Gaming infrastructure, tools | konvoy.vc |
| Ubisoft RADAR | Pre-seed, Seed | Up to $500K | Indie game studios, Quebec | montreal.ubisoft.com |
| Panache Ventures | Pre-seed, Seed | Up to $1.5M | Gaming tech, consumer tech, SaaS | panache.vc |
| Inovia Capital | Seed to late stage | $1M-$10M | Gaming tech, consumer, SaaS | inovia.vc |
| Real Ventures | Pre-seed, Seed | $250K-$2M | Gaming, consumer tech, enterprise | realventures.com |
| Investissement Québec | Seed to growth | $1M-$25M+ | Quebec gaming studios, tech | investquebec.com |
| Fonds de solidarité FTQ | Seed to growth | $500K-$5M | Quebec gaming, multimedia, tech | fondsftq.com |
| BDC Capital | Seed, Series A | $500K-$5M | Canadian gaming, tech | bdc.ca |
| Desjardins Capital | Seed to growth | $500K-$5M | Quebec gaming, multimedia | desjardins.com |
| Kli Capital | Pre-seed, Seed | Up to $1.5M | Gaming tech, consumer, SaaS | klicapital.vc |
| White Star Capital | Seed, Series A, B | $500K-$5M | Consumer, gaming tech, marketplace | whitestarcapital.com |
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Start free 14-day trialWhat is a Montreal gaming investor?
A Montreal gaming investor backs game studios, gaming infrastructure, and interactive entertainment companies operating in or from Quebec. Most are generalist VCs that evaluate gaming deals on consumer metrics or B2B SaaS metrics. The exception is Triptyq Capital - Montreal's only gaming-specialist fund.
What makes Montreal different is the density. Over 11,000 people work in Quebec's video game industry. Studios like Behaviour Interactive (Dead by Daylight) and Ludia raised institutional capital in Montreal. That track record makes the case to generalist investors easier than in cities without it.
Investors in 2026 are more selective than they were in 2021. Pure game titles rarely get VC funding. What gets funded is gaming infrastructure - tools that help studios develop, publish, or monetize games at lower cost. If you're building for the gaming industry rather than a specific game, your path to funding is clearer.
For broader context on Quebec investing, see Quebec investors. Read what investors look for in a data room before any gaming investor meeting.
Montreal is where gaming talent density and institutional investment infrastructure actually overlap. That combination is rare globally.
12 Montreal gaming investors
1. Triptyq Capital
Montreal's only dedicated entertainment and gaming fund. Triptyq invests in gaming, AR/VR/XR, creator economy, and interactive media companies at pre-seed and seed stage. Their portfolio includes LocusX (AI for game bug-fixing), Squido Studio, and Streamforge. For Montreal gaming founders, Triptyq should be your first call before any generalist VC - they understand gaming unit economics and don't need a 20-minute briefing on game monetization models.
- Recent Deals: LocusX (2025); Streamforge follow-on (2025); Squido Studio (portfolio); 13 total investments; 2 investments in 2025; active Quebec gaming deal flow
- LinkedIn: Triptyq Capital LinkedIn
- Sector Focus: Gaming, AR/VR/XR, creator economy, web3, sports tech, animation
- Stage Focus: Pre-seed, Seed
- Location: Montreal, QC
- Website: triptyq.vc
2. Konvoy Ventures
US-based gaming infrastructure fund with $258M AUM that actively reviews Canadian gaming tech deals. Konvoy backed Mino Games and focuses exclusively on gaming platforms, tools, and infrastructure - not individual game titles. For Montreal founders building dev tools, gaming analytics, or distribution infrastructure, Konvoy is worth approaching regardless of geography.
- Recent Deals: GoSats (March 2026); 3 investments in 2026 so far; Ready Player Me acquisition (December 2025); $258M AUM; Mino Games portfolio; active Canadian gaming infrastructure deal flow
- LinkedIn: Konvoy Ventures LinkedIn
- Sector Focus: Gaming infrastructure, dev tools, gaming platforms, esports tech
- Stage Focus: Seed, Series A
- Location: Denver, CO (Canadian deals active)
- Website: konvoy.vc
3. Ubisoft RADAR
Ubisoft Montreal's $10M dedicated indie fund for Quebec game studios. RADAR finds, finances, and promotes games developed by indie studios in Quebec. If you're building an indie game in Montreal with a Quebec team, this is the most accessible first check available - and a Ubisoft co-sign carries meaningful weight in subsequent fundraises.
- Recent Deals: Active $10M fund for Quebec indie studios; Ubisoft Montreal launched program to support local indie ecosystem; ongoing cohort applications open
- LinkedIn: Ubisoft Montreal LinkedIn
- Sector Focus: Indie game studios, Quebec-based game development
- Stage Focus: Pre-seed, Seed
- Location: Montreal, QC
- Website: montreal.ubisoft.com
4. Panache Ventures
Canada's most active pre-seed fund occasionally backs gaming tech and consumer entertainment companies. Panache has a Montreal partner and writes checks up to $1.5M before revenue. For gaming tech founders - not pure studios - building software that serves game developers or players, Panache is worth approaching at pre-revenue stage.
- Recent Deals: Nord Quantique (Q1 2026); Soma Energy (April 2026); 5 investments in 2026; active Montreal consumer tech and gaming tech deal flow
- LinkedIn: Panache Ventures LinkedIn
- Sector Focus: Gaming tech, consumer tech, enterprise SaaS, fintech, AI
- Stage Focus: Pre-seed, Seed
- Location: Montreal, QC (offices in 4 cities)
- Website: panache.vc
5. Inovia Capital
Montreal's leading VC has backed consumer and gaming tech companies from seed through late stage. Inovia has Tracxn-confirmed status as one of the top investors in Montreal gaming tech by number of investments. For Montreal gaming tech founders at $300K+ ARR with a clear B2B or platform model, Inovia is worth approaching given their deep Montreal presence and follow-on track record.
- Recent Deals: Toyo (2026); Flare follow-on (2026); 15 investments in 2025; US$2.2B+ AUM; active Montreal gaming and consumer tech portfolio
- LinkedIn: Inovia Capital LinkedIn
- Sector Focus: Gaming tech, consumer, SaaS, AI, fintech
- Stage Focus: Seed to late stage
- Location: Montreal, QC (global offices)
- Website: inovia.vc
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Start free 14-day trial6. Real Ventures
Montreal's foundational VC has invested in consumer and entertainment tech companies for over a decade. Real runs FounderFuel with Panache and Inovia and has 100+ portfolio companies. For gaming tech founders coming out of Montreal's university system - Concordia, McGill, and UQAM all have game design programs - Real is worth approaching via FounderFuel.
- Recent Deals: Active FounderFuel cohorts 2025-2026; 100+ portfolio companies; $600M+ raised since inception; active Montreal consumer and gaming tech deal flow
- LinkedIn: Real Ventures LinkedIn
- Sector Focus: Gaming tech, consumer, enterprise, deep tech
- Stage Focus: Pre-seed, Seed
- Location: Montreal, QC
- Website: realventures.com
7. Investissement Québec
Quebec's provincial investment arm backed Ludia and has a specific multimedia and video game mandate. IQ co-invests with private VCs and writes $1M to $25M+ checks in Quebec gaming and multimedia companies. For Montreal gaming founders with Quebec incorporation and local jobs created, IQ is the most reliable public co-investor to approach after a private VC commits.
- Recent Deals: Ludia co-investor; Vention $150M CAD Series D lead (2025); active Quebec multimedia and gaming equity programs; "I Adopt Quebec's Tech" initiative
- LinkedIn: Investissement Québec LinkedIn
- Sector Focus: Quebec gaming, multimedia, all sectors
- Stage Focus: Seed to growth
- Location: Montreal, QC
- Website: investquebec.com
8. Fonds de solidarité FTQ
Quebec's $23B+ labor-sponsored fund backed Ludia and co-invests in Quebec multimedia companies. Fonds FTQ deployed $241M in 172 Quebec businesses in 2025-2026. They co-invest on similar terms once a private VC commits. For gaming founders with Quebec operations, add Fonds FTQ to your co-investor list after your private lead is confirmed.
- Recent Deals: Ludia co-investor; $241M deployed in 172 Quebec businesses (2025-2026); $23B+ net assets (November 2025); active Quebec gaming and multimedia co-investment
- LinkedIn: Fonds de solidarité FTQ LinkedIn
- Sector Focus: Quebec gaming, multimedia, all sectors
- Stage Focus: Seed to growth
- Location: Montreal, QC
- Website: fondsftq.com
9. BDC Capital
Canada's national co-investor backed Ludia alongside Fonds FTQ and Investissement Québec. BDC has 384+ total investments and co-invests across Canadian gaming and consumer tech companies. They don't lead rounds, but they follow private VCs quickly. Use Ellty to send them a data room link alongside your private lead.
- Recent Deals: Ludia co-investor; $150M Life Sciences fund launch (April 2026); 384+ total investments; active Canadian gaming and consumer tech co-investment mandate
- LinkedIn: BDC Capital LinkedIn
- Sector Focus: Canadian gaming, tech, all sectors
- Stage Focus: Seed, Series A
- Location: Montreal, QC (national mandate)
- Website: bdc.ca
10. Desjardins Capital
Quebec's cooperative financial institution has direct gaming investments on its books. Desjardins backed Behaviour Interactive - Montreal's most successful independent game studio and creator of Dead by Daylight. For Montreal gaming founders with Quebec operations and a clear path to profitability, Desjardins adds strategic value through its industry network.
- Recent Deals: Behaviour Interactive co-investor; Vention $150M CAD co-investor (2025); new investment model launched January 2026; Quebec gaming and multimedia network
- LinkedIn: Desjardins Capital LinkedIn
- Sector Focus: Quebec gaming, multimedia, all industries
- Stage Focus: Seed to growth
- Location: Montreal, QC
- Website: desjardins.com
11. Kli Capital
Montreal-New York VC with a $50M Fund III that covers gaming tech, consumer, and SaaS. Kli writes checks up to $1.5M and leads at pre-seed and seed. Latest investments were Brickroad and Result Flow AI (February 2026). For Montreal gaming tech founders with early traction, Kli moves faster than most funds and is worth approaching.
- Recent Deals: Result Flow AI (seed, February 2026); Brickroad (seed, February 2026); Pattern exit (May 2025); 52+ total investments; $50M Fund III active
- LinkedIn: Kli Capital LinkedIn
- Sector Focus: Gaming tech, consumer, SaaS, fintech, healthtech
- Stage Focus: Pre-seed, Seed
- Location: Montreal, QC / New York, NY
- Website: klicapital.vc
12. White Star Capital
Montreal-headquartered global VC with consumer and marketplace portfolio that includes gaming-adjacent companies. White Star's North American Seed Fund ($25M first close, September 2025) covers consumer and gaming platforms. For Montreal gaming platform founders with $300K+ ARR and a marketplace or consumer network model, White Star is worth approaching.
- Recent Deals: Trayd (2026); Kulipa follow-on (2026); North American Seed Fund $25M first close (September 2025); 15 investments in 2025; consumer and marketplace portfolio
- LinkedIn: White Star Capital LinkedIn
- Sector Focus: Consumer, gaming platforms, marketplace, fintech, enterprise
- Stage Focus: Seed, Series A, B
- Location: Montreal, QC (global offices)
- Website: whitestarcapital.com
How to pitch a gaming company to Montreal VCs
Most Montreal VCs don't fund game titles. They fund the infrastructure, tools, and platform plays that serve the gaming industry. If you're pitching a single game, you need exceptional traction - DAU, retention, ARPU - before any institutional investor will engage.
Gaming infrastructure is a different conversation. If you're building dev tools, analytics, monetization platforms, or distribution infrastructure for game studios, you're pitching a B2B SaaS company that happens to serve gaming. That's a story every generalist VC on this list can evaluate.
Set up an Ellty data room before your first pitch with your financials, KPI dashboard, and customer evidence. Upload to Ellty and send trackable links. If a Konvoy partner opens your DAU and retention charts three times, follow up on those specific metrics. Read how to build a data room for VC fundraising before any gaming investor meeting.
Quebec tax credits and why gaming investors care
Quebec's video game tax credit covers up to 37.5% of labor costs for game studios. Federal SR&ED credits add another layer. For investors, this directly affects your effective burn rate and cash needs.
Montreal gaming investors factor credits into your financial model. A studio burning $100K/month gross may be burning $62K/month net after credits. That changes your runway calculation and makes your capital needs look smaller - which affects round size and dilution.
Before any Series A meeting, build a clear model showing gross burn vs. net burn after tax credits. Upload to your Ellty data room and make it the first financial document investors see. Read what investors look for in a data room to understand exactly what gaming VCs review before writing checks.
How to find active gaming investors in Montreal
Not every investor on this list is writing checks into gaming right now. Triptyq Capital is the easiest to verify - they post gaming deal announcements regularly. For generalist VCs, check their portfolio for at least one gaming or consumer entertainment investment in the last 12 months before investing time in an outreach.
Dead portfolio companies are a red flag. If a fund's gaming portfolio companies all went quiet in 2022-2023, the fund may have lost appetite for the sector. Look for active portfolio companies with recent product updates or announcements.
Upload your pitch to Ellty and send trackable links to your target list. An investor who opens your retention data multiple times in a week is actively evaluating you. One who never opens your link after two follow-ups has moved on. Read due diligence for investors to understand what gaming VCs look for before writing checks.
How to pitch a Montreal gaming investor
Five steps for Quebec gaming founders raising capital in 2026.
- 1.Lead with DAU, retention, and ARPU - not your game conceptMontreal gaming investors evaluate metrics first. Show DAU, Day 30 retention, and ARPU before any game narrative.
- 2.Know whether you're pitching a studio or infrastructure playGame titles need exceptional traction before VCs engage. Gaming infrastructure plays get meetings at earlier stages.
- 3.Show your tax credit model clearlyBuild gross vs. net burn showing Quebec labor credits. Investors factor this into your cash needs and runway.
- 4.Approach Ubisoft RADAR before institutional VCsIf you're an indie Quebec studio, RADAR is the first check available. A Ubisoft co-sign strengthens subsequent pitches.
- 5.Build a data room before your first emailUpload your pitch, KPI dashboard, and financials to Ellty. Track which investors open your metrics before you follow up.
How Ellty helps you land a Montreal gaming investor
You know the 12 investors. Here's how to share your game metrics and financial model without losing control of your data.
- 1.Create a data room and upload filesCreate an Ellty data room and upload your pitch, retention data, and financial model. Gaming investors ask for KPIs within 48 hours of any promising first call.
- 2.Create and configure a link ...Require email verification before investors access your player metrics and revenue model. Screenshot protection keeps your monetization strategy confidential.
- 3.Get instant notifications ...Know which gaming VCs open your data room and how long they spend on metrics. If Triptyq reads your Day 30 retention data twice, follow up on that specifically.
Questions gaming founders ask before raising
- Most fund gaming tech - tools, infrastructure, and platform plays. Pure game titles need exceptional DAU, retention, and ARPU data before any institutional investor will lead a round.
- RADAR is Ubisoft Montreal's $10M fund for Quebec indie studios. Applications are open to Quebec-based indie game developers. A RADAR investment also brings access to Ubisoft's distribution and publishing network.
- Show both. Build a clear model showing gross burn vs. net burn after Quebec labor tax credits. Investors calculate your effective runway from the net number.
- Before you send your first pitch email. Upload your KPI dashboard, financial model, and retention data to Ellty. Investors who open your metrics multiple times before a call are genuinely interested.
- Triptyq, Konvoy, Panache, and Inovia don't require Quebec incorporation. Investissement Québec, Fonds FTQ, and Ubisoft RADAR specifically require Quebec-based studios and operations.
- Start with 6-8 investors from this list. Use Ellty to send separate trackable links and monitor who reviews your KPI data. Double down on investors who open your retention and monetization metrics.
