Fund profile / Canada

Alphi Capital I

Geography: Canada
Stage: Series A
Fund size: C$295M
Focus: SaaS
Signals: Published

N°01 / About

About Alphi Capital I

Alphi Capital I is a venture capital firm based in Canada, focusing on Series A stage investments. The fund actively supports founders building innovative solutions in SaaS, providing strategic guidance and capital to help startups scale.

N°02 / Thesis

Investment Focus

Location / RegionCanada

Funding StageSeries A

Industry Focus

SaaS

Investor Signals Profile

active

Sweet Spot

Canadian SMB owner in services or distribution seeking PE partner

Canadian lower mid-market

business services

value-added distribution

buy & build

culture-led PE

Bullish Signals

Fund I closed $295M, beat $200M targetexternal

4 portfolio cos: RedBlue, Eastbay, K2, Tenomwebsite

Debut fund closed Jan 2025external

RedBlue deal: HVAC/plumbing/electrical, BCwebsite

Eastbay: IT managed services, Torontowebsite

ATP playbook: proprietary value-creation systemwebsite

RedBlue founded 2013, residential + commercialwebsite

Eastbay founded 1999, SMB IT serviceswebsite

K2 Fasteners: value-added distribution addwebsite

RedBlue: Jordan Owen & Marshal Mason founderswebsite

Eastbay: Jeff Ridout founder, since 1999website

Toronto HQ, active dealflow Jul 2025website

Tenom Technologies: IT managed services partnerwebsite

Culture-first approach embedded in ATPwebsite

Programmatic sustainable growth transformation modelwebsite

Alphi Timeless Principles (ATP) foundationwebsite

RedBlue HeatPumps & Refrigeration added Jul 2025website

Best-in-class businesses start here taglinewebsite

Strong investor interest, oversubscribed debut fundwebsite

Contrarian Signals

Canada-only, no tech focusexternal

PE, not VC — no equity-free capitalexternal

Founder Do's

Partner with families/owner-operators

Show organic + inorganic growth plan

Operate in services or distribution

Emphasize culture & employee experience

Be Canadian SMB

Founder Don'ts

Expect VC-style tech investment

Ignore culture fit in pitch

Be outside Canada

29 signals on Alphi Capital I

19 bullish · 2 contrarian · 5 pitch do's · 3 don'ts, each with its source. From €9/month, cancel anytime.

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Facts

Fund Overview

Fund SizeC$295M

Saves0

Website

People

Key People

Thecla Sweeney, Andrew Fortier

N°04 / See also

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