Cycle Capital

Cycle Capital Management Inc., established in 2009, is a Montreal-based venture capital firm specializing in late-stage investments in clean technology and renewable energy sectors. It focuses on companies in the development and commercialization phases, with a particular interest in biomass, green transportation, green buildings, and smart grid technologies. The firm invests primarily in North America, with a focus on Canada, and typically allocates between CAD $0.1 million and CAD $8 million per portfolio company. Cycle Capital takes minority stakes and provides advisory services to its investees, aiming to hold investments for five to seven years. It manages multiple funds totaling CAD $230 million in assets under management.

Kevin Cano

Principal and Investment Director

Louis Carbonneau

Venture Partner

Ariane Cloutier

CFO

Pascal Drouin

Partner

Ricardo Jordan

Senior Associate

Minalou Kunze-Roelens

Analyst

Roland Liu

Venture Partner

Andrée-Lise Méthot

Founder and Managing Partner

Simon Olivier

Senior Partner and Head of BleuImpact Water Fund

Gabriel Samson

Associate

Shirley Speakman

Partner

Past deals in LED

VueReal

Series C in 2025
VueReal Inc. is a technology company based in Waterloo, Canada, founded in 2016, specializing in micro-LED displays. Its core innovation, the microSolid printing platform, facilitates the integration of millions of semiconductor devices onto large-area substrates, enabling the creation of advanced smart systems. This technology is particularly beneficial for applications in automotive, aerospace, and consumer electronics, including smartphones, laptops, TVs, and augmented reality systems. VueReal collaborates directly with original equipment manufacturers (OEMs) to develop customized solutions, addressing challenges in the transition to electric vehicles and autonomy. The company's displays are characterized by high transparency, brightness, reliability, and low power consumption. To broaden accessibility, VueReal is developing a turnkey solution for its printing technology, partnering with tool vendors, semiconductor fabs, and material companies. By licensing its technology and providing production printers along with semiconductor cartridges, VueReal aims to support both large corporations and smaller teams in creating innovative products tailored to specific customer needs.

VueReal

Series B in 2022
VueReal Inc. is a technology company based in Waterloo, Canada, founded in 2016, specializing in micro-LED displays. Its core innovation, the microSolid printing platform, facilitates the integration of millions of semiconductor devices onto large-area substrates, enabling the creation of advanced smart systems. This technology is particularly beneficial for applications in automotive, aerospace, and consumer electronics, including smartphones, laptops, TVs, and augmented reality systems. VueReal collaborates directly with original equipment manufacturers (OEMs) to develop customized solutions, addressing challenges in the transition to electric vehicles and autonomy. The company's displays are characterized by high transparency, brightness, reliability, and low power consumption. To broaden accessibility, VueReal is developing a turnkey solution for its printing technology, partnering with tool vendors, semiconductor fabs, and material companies. By licensing its technology and providing production printers along with semiconductor cartridges, VueReal aims to support both large corporations and smaller teams in creating innovative products tailored to specific customer needs.

YWire Technologies

Seed Round in 2015
YWire Technologies, based in Montreal, specializes in the design, manufacture, and sale of lighting control devices aimed at the commercial buildings market. Founded in 2009 by veterans of the building automation industry, the company focuses on reducing the installed costs of integrated systems. YWire's innovative FiveSeries Lighting Control System is notable for being the first to utilize Broadband over Power Line technology for device networking, facilitating integration with Building Automation Systems. This approach not only lowers installation expenses but also enhances energy efficiency by optimizing lighting and other systems within commercial buildings.

YWire Technologies

Venture Round in 2015
YWire Technologies, based in Montreal, specializes in the design, manufacture, and sale of lighting control devices aimed at the commercial buildings market. Founded in 2009 by veterans of the building automation industry, the company focuses on reducing the installed costs of integrated systems. YWire's innovative FiveSeries Lighting Control System is notable for being the first to utilize Broadband over Power Line technology for device networking, facilitating integration with Building Automation Systems. This approach not only lowers installation expenses but also enhances energy efficiency by optimizing lighting and other systems within commercial buildings.

YWire Technologies

Venture Round in 2014
YWire Technologies, based in Montreal, specializes in the design, manufacture, and sale of lighting control devices aimed at the commercial buildings market. Founded in 2009 by veterans of the building automation industry, the company focuses on reducing the installed costs of integrated systems. YWire's innovative FiveSeries Lighting Control System is notable for being the first to utilize Broadband over Power Line technology for device networking, facilitating integration with Building Automation Systems. This approach not only lowers installation expenses but also enhances energy efficiency by optimizing lighting and other systems within commercial buildings.

YWire Technologies

Venture Round in 2013
YWire Technologies, based in Montreal, specializes in the design, manufacture, and sale of lighting control devices aimed at the commercial buildings market. Founded in 2009 by veterans of the building automation industry, the company focuses on reducing the installed costs of integrated systems. YWire's innovative FiveSeries Lighting Control System is notable for being the first to utilize Broadband over Power Line technology for device networking, facilitating integration with Building Automation Systems. This approach not only lowers installation expenses but also enhances energy efficiency by optimizing lighting and other systems within commercial buildings.

LED Roadway Lighting

Venture Round in 2011
LED Roadway Lighting Ltd. specializes in the design and manufacture of light-emitting diode (LED) street lighting and associated control systems. Established in 2002 and headquartered in Halifax, Canada, the company operates additional design and manufacturing facilities in locations including Victoria, Canada; South Wales, United Kingdom; the United States; Brazil; and Australia. The firm provides a range of lighting solutions for outdoor applications such as streets, pathways, parking areas, and security perimeters, catering to municipal, commercial, and utility markets. Their offerings include LED streetlights, network technology, sensors, and management software, which enable enhanced lighting control and monitoring capabilities. Through a network of factory representatives and distributors, LED Roadway Lighting serves clients both in Canada and internationally, addressing the growing demand for energy-efficient and intelligent lighting solutions.
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