About Top Aces
Top Aces is a company based in Dorval (Canada) founded in 2005. It operates as a provider of contracted adversary air and close air support training. Top Aces has raised $100 million across 5 funding rounds from investors including Morgan Stanley, Clairvest and Caisse de depot et placement du Quebec. Top Aces has completed 1 acquisition, including Blue Air Training. Its chief executive is Paul Bouchard. Its website topaces.com draws about 21 thousand monthly visits. Top Aces offers products and services including Adversary Air Services and Joint Terminal Attack Controller Training. Its legal entity is Top Aces Inc.
Company details
Top Aces was founded in 2005 and is headquartered in Dorval, Canada. Operations focus on the defense sector, where live-fly training services are delivered to military clients. Scenarios covered include air-to-air, air-to-ground, and navalair defense simulations, supported by a fleet of fighter jets. Joint terminal attack controller training is also offered to support pilot skill development and military readiness.
- Total Equity Funding$100M (USD)
in 5 rounds
- Latest Funding Round$138.63K (USD), Debt – Conventional
Mar 2025
- InvestorsMorgan Stanley
& 2 more
- Investments & Acquisitions
Products & Services of Top Aces
Top Aces offers a comprehensive portfolio of products and services, including Adversary Air Services and Joint Terminal Attack Controller Training.
Contracted adversary air services are delivered for military exercises and simulations
Joint terminal attack controller training is offered for day and night operations in military contexts
Apps and channels of Top Aces
its YouTube channel Top Aces has 1.07K subscribers and 15 videos.
Videos from Top Aces
The most watched videos on Top Aces's YouTube channel, Top Aces (1.07K subscribers). Click a video to play it here.
More on Top Aces.
Funding Insights of Top Aces
Top Aces has successfully raised a total of $100M across 5 strategic funding rounds. The most recent funding activity was a Debt – Conventional round of $138.63 thousand completed in March 2025. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $100M
- Total Rounds 5
- Last Round Debt – Conventional — $138,626
- Investors Count 3
All 5 funding rounds of Top Aces with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
3 investors in total: 3 institutional.
Investors in Top Aces
Top Aces has secured backing from 3 investors, including institutional and venture fund investors. Prominent investors backing the company include Morgan Stanley, Clairvest and Caisse de depot et placement du Quebec.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Private equity investment management firm | 1987 | clairvest.com | Toronto, Canada | |
Investment strategies are provided across diverse asset classes and markets. | 1965 | cdpq.com | Quebec City, Canada | |
Wealth management, investment advisory, and financial services are provided. | 1935 | morganstanley.com | New York, United States |
Investor details for Top Aces
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
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Verified entity values are shown only after access is granted.
People of Top Aces
60 people are tracked at Top Aces (29 in leadership, 31 in team).
| Name | Role | Group |
|---|---|---|
Paul Bouchard | CEO & President | Leadership |
Dennis Lopes | Chief Strategy And Business Officer | Leadership |
Steve Haase | US Group President | Leadership |
Gabriel Frumusanu | US Group Vice President, Finance | Leadership |
Colin M. | Director Of Quality Assurance / PRM | Leadership |
Tim Pound | Vice President Supply Chain | Leadership |
Aaron Steffens | Senior Director Enterprise Technology / F-16 Aggressor Pilot | Leadership |
Chantal Tessier | Chief Human Resources Officer | Leadership |
Daniel Gibeau | Chief Technology Officer | Leadership |
Didier Toussaint | Group President | Leadership |
Vincent Morello | Chief Financial Officer | Leadership |
T. Lindsay Oliekan | VP Of Human Resources & Facilities Management | Leadership |
Kimberley Betsalel | Human Resources Director | Leadership |
Eric Leblanc | VP Technical Services / PRM | Leadership |
Yves R. | Vp, Information Technology | Leadership |
Kevin Wilson | Vice President Of Program Operations | Leadership |
Jean-Francois Paradis | A4 Production Supply Chain Director | Leadership |
Jason Cox | Director Of Operations | Leadership |
Abhi Vaishnav | Director Of Strategic Planning & Corporate Projects | Leadership |
Roukieta Sawadogo | Director Corporate Development | Leadership |
40 more people are available in the full profile.
Complete people profiles for Top Aces
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
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Investments & Acquisitions by Top Aces
Top Aces has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Blue Air Training.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Close air support training is provided for JTACs and warfighters. | blueairtraining.com | Las Vegas, United States | 2011 | Mar 2022 | •••• |
Complete acquisition details for Top Aces
Acquired stakes, deal sources and the complete acquisition history require an active premium plan.
- Acquired stakes
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- Exports
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Timeline of Top Aces
4 dated milestones of Top Aces across 20 years, from founding to its latest funding, stage changes and deals.
- Founded Top Aces is founded.
- Funding First funding round.
- Acquisition Acquires Blue Air Training.
- Funding Latest funding round, Debt – Conventional, of $139K.
Web traffic of Top Aces
The website of Top Aces (topaces.com) receives about 21.3K visits a month.
- Monthly visits21.3K
▲ 38% vs previous month
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Related news about Top Aces
Complete news archive for Top Aces
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Frequently Asked Questions about Top Aces
Top Aces was founded in 2005 and raised its 1st funding round 6 years after it was founded.
Top Aces is headquartered in Dorval, Canada. It is registered at Dorval, Quebec, Canada.
Paul Bouchard is the current CEO of Top Aces.
Top Aces is a funded company, having raised a total of $100M across 5 funding rounds to date.
Top Aces was founded in 2005 and is headquartered in Dorval, Canada. Operations focus on the defense sector, where live-fly training services are delivered to military clients. Scenarios covered include air-to-air, air-to-ground, and navalair defense simulations, supported by a fleet of fighter jets. Joint terminal attack controller training is also offered to support pilot skill development and military readiness.
Top Aces offers Adversary Air Services and Joint Terminal Attack Controller Training.
Top Aces has made 1 acquisition, including Blue Air Training.
Top Aces has 3 investors. Key investors include Morgan Stanley, Clairvest, and Caisse de depot et placement du Quebec.
Top Aces operates through Top Aces Inc.