Confirmed by the firmOntario

N49P

N49P is a generalist firm based in Ontario that leads Pre-Seed and Seed rounds with checks ranging from $250k to $1m, backing companies like EvenUp and Caribou.

Website LinkedIn Portfolio Pitch page

Entry stagePre-seed, Seed

Check size$250K to $1M

Leads roundsYes

FocusGeneralist

Latest fundn/a

Investing team3 peopleNo activity since Sep

Who you would pitch at N49P

3 people on the investing team, 3 of them partners who can make the call. Partners are listed first.

Alex NormanPartnerHe co-founded TechTO and launched AngelList Ventures in Canada, holding degrees from McGill and Wharton.

Doug PenickPartnerHe holds a B.Comm from McGill University and serves on the Andover Development Board.

Omar DhallaPartnerHe holds a B.Comm from UBC and an MBA from Ivey.

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Writes $250K to $1M checks. Its smallest check is larger than 33% of firms in the atlas.

Bars: how many firms in the atlas report each band. Highlighted: this firm.

No recent activity since September 2026. Quiet does not mean closed.

Weekly count of activity updates. Activity is not a confirmed deal.

Before you pitch

Ownership target5-7%, 7-10%

Does not invest inCapital intensive models that are more science experiments than potential businesses.

Notable investments

EvenUpCaribouBloomActualAltrioAppetronixAssistIQBettermodeCoRecruitBackboard

In their words

Powering Canada’s Top Founders | N49P Venture CapitalPartnering with visionary Canadian founders to build community, accelerate growth, and transform markets through hands-on support and powerful network access.www.n49p.com

Founders and investors at a Mode VC gathering

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Raising a pre-seed or seed round? We write $1M to $5M first checks and help founders with distribution. A partner reads every deck.

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Firms like N49P

Alate Partners$250K to $1M

Radical Ventures$250K to $10M · active Sep 30

Blue Collective$250K to $1M · active Sep 28

Golden Ventures$500K to $3M · active Sep 22

Flyover Capital$250K to $3M · active Oct 13

Magnify Ventures$250K to $3M · active Sep 22

On these lists

Seed investors in Canada811 Pre-seed investors in Canada139 Seed investors in Ontario16 Pre-seed investors in Ontario9 Seed investors3020 Pre-seed investors1696

Questions

What stage does N49P invest in?

N49P reports entry at pre-seed, seed.

How much does N49P invest?

N49P reports checks of $250K to $1M.

Does N49P lead rounds?

Yes. N49P says it can lead.

Who are the partners at N49P?

Alex Norman (Partner), Doug Penick (Partner), Omar Dhalla (Partner).

Is N49P active right now?

No recent activity since September 2026.

Work at N49P? Claim or correct this profile.