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Atlantic Canada Tech Sector Attracts $125M Investment

  //business-finance.news-articles.net/content/202 .. canada-tech-sector-attracts-125m-investment.html
  Published in Business and Finance on Monday, January 26th 2026 at 12:54 GMT by The Globe and Mail
      Locale: Newfoundland and Labrador, CANADA

St. John's, Newfoundland - January 26th, 2026 - A burgeoning technology sector in Atlantic Canada is attracting significant investment, with St. John's-based venture capital firm Pelorus leading the charge. The firm announced today the successful closure of its second fund, exceeding its initial target and signaling a strong vote of confidence in the region's growing tech ecosystem. The fund has raised $125 million, a substantial increase from the originally projected $100 million.

A Region on the Rise

For years, Atlantic Canada was often overlooked in the broader Canadian tech landscape. However, a confluence of factors - including the increased adoption of remote work, a desire for a more affordable lifestyle, and the region's stunning natural beauty - has spurred a remarkable technological renaissance. Talented developers, engineers, and entrepreneurs are increasingly choosing to establish themselves and their companies in Newfoundland, Nova Scotia, New Brunswick, and Prince Edward Island. This influx of skilled professionals is creating a vibrant and innovative environment for tech startups to flourish.

Pelorus: Investing in Homegrown Talent

Pelorus, founded in 2018, has been instrumental in nurturing this growth. The firm's core mission is to provide capital and support to early-stage technology companies located primarily within Atlantic Canada. The success of their first fund, which invested in companies such as ExactMetrics and Coalesce, demonstrated the potential for Atlantic Canadian technology to thrive. The firm's commitment hasn't wavered; instead, it has been amplified by the demonstrated success and growing opportunities within the region.

ExactMetrics: A Global Success Story

ExactMetrics, a growth marketing platform, serves as a compelling case study for the viability of Atlantic Canadian tech companies. The platform has experienced significant global expansion, securing prominent clients like Shopify and Mailchimp. This achievement, according to Pelorus founding partner Simon Chiu, serves as "proof that these companies can compete and win on the world stage." The firm views ExactMetrics's trajectory as a validation of their investment strategy and a testament to the untapped potential within the region.

More Than Just Capital: A Hands-On Approach

Pelorus differentiates itself from many other venture capital firms through its deeply collaborative and hands-on approach. The firm's partners don't just provide financial backing; they actively mentor and guide portfolio companies, assisting with everything from refining business models and building high-performing teams to navigating the inevitable challenges of early-stage growth.

"We're not just providing capital; we're providing expertise and guidance," explains Victoria Fu, a partner at Pelorus. "We want to be a true partner to our companies and help them achieve their full potential." This commitment extends beyond financial support, encompassing strategic advice and operational assistance - creating a true partnership for growth.

Focusing on Key Sectors

The second fund will maintain a focus on early-stage companies operating in key sectors that are experiencing significant innovation, including software development, artificial intelligence (AI), and health technology. Pelorus has already begun deploying capital from the fund and anticipates several new investments in the near future. While the primary geographic focus remains Atlantic Canada, the firm's vision extends beyond regional boundaries.

A Global Outlook

Pelorus recognizes that many Atlantic Canadian tech companies possess the potential to achieve global scale. While prioritizing regional investment, the firm is actively seeking out companies with ambitions and capabilities to expand beyond Canada's borders. As Simon Chiu notes, "We want to back companies that are building the next generation of global technology." This forward-looking approach positions Pelorus as a key enabler of Atlantic Canada's continued technological advancement and its contribution to the global innovation landscape.

The successful fundraising for Pelorus's second fund underscores the growing recognition of Atlantic Canada as a vibrant and promising hub for technology innovation.