Costa Mesa-based venture capital firm Sail Venture Partners LLC has established a joint venture in Canada with an aim to invest in early stage clean-tech companies.

Sail is the early-stage venture arm of Sail Capital Partners.

Sail has partnered with a Canadian subsidiary of St. Louis, Mo.-based Stifel Financial Corp. The new venture will be in Toronto.

“Canada is a world leader in fostering clean-tech innovation,” said Peter Polydor, vice president at Sail. “By establishing a joint venture with Stifel in Canada, we plan to grow those innovations into industry leaders.”

Sail focuses its investments on companies in the clean-tech niche, including technologies related to energy, gasoline alternatives and lighting.

Other investments are related to water, medicine and pollution control.

Sail counts Irvine-based FlexEnergy Inc. and Lake Forest-based M2 Renewables Inc. as part of its investment portfolio, which includes companies from throughout the U.S. and abroad.

FlexEnergy makes portable power plants that run on landfill gas. M2 Renewables develops and markets wastewater treatment systems.