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Gary Berdowski

Associate

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At a glance

Full Name
Gary Berdowski, CFA, MBA
Title
Associate (Cycle Capital); most recently Principal at Blue Vision Capital
Firm
Cycle Capital Management
Firm Type
Cleantech / Climate-tech Venture Capital (impact investor) — the stub's "Angel Investors" label understates this; his investing work has been at institutional VC funds
Investment Stage
Seed through Series B (Cycle Capital: early-to-growth; Blue Vision Capital: seed–Series A)
Check Size
At Blue Vision Capital, seed-stage rounds averaged ~$1.3M; the fund ran a ~$40M CAD (first close, targeting $60M) vehicle. Cycle Capital participates from co-investment stakes up to leading rounds of $20M+ and joining $150M+ rounds.
Target Company Profile
Capital-efficient, asset-light climate-tech startups in underfunded sectors "ripe for disruption" with measurable, meaningful emissions/impact outcomes
Sector Focus
Cleantech / climate tech — clean energy, energy efficiency, smart buildings, mobility, agtech, circular economy, industrial decarbonization
Geographic Focus
Canada-centric (Montreal); North America primary, with Europe and opportunistic Asia/Latin America exposure at Blue Vision
Location
Montreal, Québec, Canada

Background

Gary Berdowski is a Montreal-based finance and strategy professional whose venture-investing career sits within Canada's cleantech ecosystem. He trained as an engineer, earning a Bachelor of Engineering from McGill University, and later completed an MBA with full CFA integration at Concordia University's John Molson / Goodman Institute of Investment Management (2015–2018). He is a CFA charterholder. Before entering venture capital he spent roughly seven years at Velan Inc., a Montreal-headquartered industrial valve manufacturer.

He joined Cycle Capital — described as Canada's leading cleantech private VC firm, with more than $0.5B AUM and offices in Montreal, Toronto and Qingdao (China) plus a presence in New York and Seattle — as an Analyst in 2019. In September 2021 the firm promoted him to Associate alongside Dan Pinault's elevation to Partner; founder and managing partner Andrée-Lise Méthot noted the promotions recognized "excellent work." As an Associate his responsibilities centered on risk and market analysis and on performing asset and business valuations for the firm's growth-stage cleantech deals.

In 2022 he moved to Blue Vision Capital, a Québec-based climate-tech seed fund founded by Meir Rabkin (with Lylan Masterman), joining as Principal. Blue Vision reached a first close of roughly $40M CAD in August 2022 (targeting $60M), planning a portfolio of 25–30 companies with a mandate weighted ~60% North America, ~35% Europe, and the remainder opportunistic in Asia/Latin America.

More recently Berdowski has stepped out of investing into an operating role, serving as Director of Strategic Planning at XNRGY Climate Systems, a Montreal-area manufacturer of energy-efficient HVAC/climate systems. (Note: the stub contact data reflects his Cycle Capital tenure; founders should verify he is still actively deploying capital before treating him as a live check-writer.)

Investment Thesis & Focus

  • Invests through institutional cleantech/climate VC funds rather than as a classic solo angel; the "Angel Investors / Seed Round" stub label reflects his seed-stage focus more than his firm type.
  • Stage: seed through early growth (Series A/B), with the seed emphasis strongest during his Blue Vision Capital tenure.
  • Sector conviction is squarely climate/cleantech: clean and renewable energy, energy efficiency and low-carbon technologies, smart building systems, mobility, agtech, circular economy, and industrial decarbonization.
  • Blue Vision Capital's stated thesis — the fund he helped run — is to back "capital-efficient climate tech startups in asset-light, underfunded sectors that are ripe for disruption and/or at an inflection point," seeking "measurable and meaningful positive impact" while generating "outsized venture scale returns."
  • Cycle Capital frames its mandate as "impactful innovation" focused on GHG reduction, resource optimization, and process efficiency across North America and China.
  • His engineering-plus-CFA background points to diligence strengths in valuation, risk/market analysis, and technical assessment of hard-tech and industrial climate solutions.

Notable Investments

  • GaN Systems — gallium-nitride power semiconductor company; participated in a ~$150M round (2021) led by Fidelity, Vitesco and BDC. (Later acquired by Infineon in 2023.)
  • Mysa — smart thermostat maker; Cycle Capital led a $20.3M Series B (2021) with Round13, EDC and BDC.
  • ESS Inc. (NYSE: GWH) — iron-flow long-duration energy storage; portfolio exit via SPAC IPO on the NYSE (2021).
  • Laboratoire M2 — biodegradable antimicrobial products; portfolio exit (2021).
  • FTEX — EV powertrain / motor-control software.
  • Adaptis — building decarbonization / retrofit software.
  • Carbon Neutral Club — climate/carbon consumer platform.
  • Additional fund portfolio names include Vibrant Planet, Mammoth Climate, AMI Labs and Decart.

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