GreenSky Ventures
GreenSky Ventures is a Toronto-based venture capital firm that backs early-stage Canadian deep-tech and enterprise-software startups. In water, GreenSky funds risk-monitoring technology, sensors that catch leaks and pathogens before they cause damage. As of 2026 it has backed 2 water companies across 4 deals, and in 2025 it closed its sixth fund at C$23.5M.
Compiled by Antoine Walter, (don't) Waste Water, from official filings and direct intelligence in Leviathan.
The take
GreenSky Ventures backs the kind of company most generalist funds skip: early-stage Canadian startups built on hard, patent-heavy science, in deep tech, enterprise software, and cleantech. Founded in Toronto in 2010 as GreenSky Capital and renamed in 2023, it has now raised six funds. In 2025 GreenSky closed its sixth, GreenSky Accelerator Fund VI, at C$23.5 million, bringing the firm to roughly C$78 million raised across all six vintages (a vintage is simply the year a fund starts investing).
GreenSky is not a water fund, and that is the honest way to read its two water bets: both are about catching water risk early rather than treating or moving water. Brickeye wires construction sites with sensors, water ropes, flow meters, and automatic shut-off valves that spot a leak in an elevator pit or a mechanical room and close the valve before a flood reaches the floors below. BioAlert Solutions builds an automated, on-site machine that runs lab-grade qPCR tests to detect Legionella in cooling towers and building water systems in hours rather than the days a lab takes. The common thread is monitoring, not treatment: GreenSky funds the sensors and software that tell an operator something is wrong with the water.
Across the two water companies I track in GreenSky's portfolio, the firm has joined four rounds, at seed, Series A, and Series B, often alongside Canadian cleantech and water specialists like Cycle Capital and Brightspark Ventures, with Export Development Canada frequently in the syndicate. GreenSky writes relatively large seed and Series A cheques and stays hands-on, which is why a compact partnership, led by founder Mike List with managing partners Marian Hoffmann and Jeff Brunet and the cleantech-focused principal Moien Giashi, can sit close to a small, technical portfolio. For a fund that would never call itself a water investor, GreenSky keeps showing up exactly where water meets sensors and software.
Water Commitment Score
Compiled from official filings, third-party records, and direct intelligence from investors and founders, in Leviathan · recomputed monthly · as of Jun 2026.
How they invest
Portfolio · 2 water companies
Invests alongside
Highlighted = profiled on (don't) Waste Water.
Frequently asked
- What does GreenSky Ventures invest in?
- GreenSky Ventures invests in early-stage Canadian B2B startups built on hard science, across deep tech, enterprise software, and cleantech. It writes seed and Series A cheques and stays hands-on. Its water exposure comes from risk-monitoring companies that detect leaks and waterborne pathogens rather than treat or supply water.
- Who runs GreenSky Ventures?
- GreenSky Ventures is led by founder and managing partner Mike List, alongside managing partners Marian Hoffmann and Jeff Brunet and investment-committee chair Greg Stewart. Cleantech principal Moien Giashi covers science-based deals. The Toronto firm runs a small, hands-on partnership rather than a large institutional team.
- Which water companies has GreenSky Ventures backed?
- GreenSky Ventures has backed two water companies tracked by (don't) Waste Water: Brickeye, whose IoT sensors catch leaks and water damage on construction sites, and BioAlert Solutions, whose automated qPCR machine detects Legionella in building water systems on-site within hours rather than days.
- How big is GreenSky Ventures' fund?
- GreenSky Ventures closed its sixth fund, GreenSky Accelerator Fund VI, at C$23.5 million in 2025, after a C$15 million first close in late 2024. Across all six funds since 2010, the Toronto firm has raised roughly C$78 million and backed more than 30 Canadian startups.
- Is GreenSky Ventures the same as GreenSky the lending company?
- No. GreenSky Ventures is a Toronto-based venture capital firm backing early-stage Canadian deep-tech startups. It is unrelated to GreenSky, the U.S. consumer-lending fintech once listed on Nasdaq and later owned by Goldman Sachs. The Ventures firm was founded in 2010 and manages roughly C$78 million.