Conexus Venture Capital is an early-stage venture capital firm based in Canada, focused on backing high-growth technology companies emerging from the Canadian prairies. The firm operates as the venture arm associated with Conexus Credit Union and plays an active role in developing Saskatchewan’s startup ecosystem. Conexus Venture Capital is known for leading rounds, setting terms, and working closely with founders from the earliest stages to help companies scale.
The firm invests in ambitious, technology-driven startups headquartered in Saskatchewan, with an emphasis on companies that can scale beyond the region.
Conexus Venture Capital targets businesses building defensible products, strong revenue foundations, and the potential to become category leaders, while remaining closely tied to local talent pipelines and innovation programs.
Conexus Venture Capital closed Fund II at $30 million after launching the vehicle in May 2024. The fund received an anchor commitment of $15 million from Conexus Credit Union and was subsequently supported by additional regional limited partners.
Fund II is dedicated exclusively to early-stage, Saskatchewan-based technology companies and is designed to deepen capital availability in a market that has historically been underserved by institutional venture funding.
The fund actively deploys into startups connected to high-performance incubators such as Cultivator powered by Conexus and Co.Labs, and leverages talent coming out of Saskatchewan’s post-secondary institutions.
Fund II also benefits from alignment with the Government of Saskatchewan’s Technology Startup Incentive, which provides a 45 percent tax credit to eligible local investors, improving the overall risk-return profile for both founders and LPs. With Fund II, Conexus Venture Capital continues its strategy of being a hands-on lead investor while building strong local syndicates.
Leadership
The firm is led by Jordan McFarlen, Managing Director. McFarlen oversees investment strategy, portfolio construction, and ecosystem partnerships. Under his leadership, Conexus Venture Capital manages approximately $60 million in assets across two funds and maintains an active, founder-facing investment approach.
Investment Strategy
Conexus Venture Capital focuses on early-stage investments where it can play a meaningful role from day one. The firm frequently leads rounds, structures financings, and helps syndicate follow-on capital. Beyond capital, Conexus Venture Capital supports founders with strategic guidance, hiring support, and access to local incubators, institutional partners, and government-backed incentive programs. The strategy is built around long-term company building rather than financial engineering.
Notable Investments
Notable investments include Alto, Offstreet, and LiORA by EMS Inc., all Saskatchewan-based technology companies backed through Fund II as the firm began deploying capital shortly after the fund’s launch.
Notable Exits
As a relatively young fund manager focused on early-stage investing, Conexus Venture Capital has not yet reported major exits publicly.
Other
Founders should know that Conexus Venture Capital is deeply embedded in the Saskatchewan startup ecosystem and prioritizes companies willing to build and scale from the region. The firm’s close relationship with Conexus Credit Union, local incubators, and provincial incentive programs can be a meaningful advantage for early-stage founders raising their first institutional round.
Canada
