
The Canadian venture capital sector soared to new heights in 2019, with a record $6.2 billion invested over 539 deals. The sector experienced its biggest year since 2000 (adjusted for inflation), with an average deal size of nearly $11.6 million, nearly doubling from the year prior. According to the Canadian Venture Capital and Private Equity Association (CVCA), venture capital investment increased by 69% year-over-year, up from $3.7 billion in 2018. The technology sector continues to lead this growth, with Canadian information and communication technology companies receiving 66% of total venture capital dollars (representing $4.1 billion) invested in 2019, almost double the amount invested in 2018.
The bulk of deal flow (39%) occurred in Ontario, with $2.4 billion invested over 199 deals. Of that, $1.8 billion was invested in Toronto. The CVCA also reported that 2019 saw 40 exits of venture capital-backed companies, including IPOs, worth a combined $3 billion.
“The performance of venture capital investment in 2019 is beyond positive and an indication of sustained confidence in the Canadian ecosystem,” said Kim Furlong, Chief Executive Officer, CVCA. “Canadian entrepreneurs have continued to aggressively grow their companies and Canadian VCs are helping push Canadian innovation forward.”
Author: Dani Palter
Image by https://unsplash.com/@adeolueletu
Authors
Expertise
Insights
-
Technology
Dominion Dynamics and Arctic Training Centre Announce Strategic Partnership
Dominion Dynamics, an Ottawa-based defense technology company, has partnered with Arctic Training Centre, a training and testing facility based in the Yukon, to develop and test its technologies. This… -
Technology
Nothing Raises US$200 Million Series C to Power an AI-First Future
Smartphone startup Nothing has closed a US$200 million Series C round, led by Tiger Global, bringing its valuation to US$1.3 billion. Other investors in the round included returning investors GV… -
Technology
OpenWav Streaming Platform Hopes to Remix the Music Industry
OpenWav, an audio streaming app that launched over the summer, continues to build momentum on its mission to return the power in the music industry to the artists at its centre.The app -- its name a… -
Technology
Precision Wellness: How Molecular You is Scaling Personalized Blood Testing
Founded in 2014, Vancouver-based healthcare startup Molecular You provides greater visibility into individual health through its direct-to-consumer blood testing platform. Using advanced quantitative… -
Technology
NASA Rover Discovers More Compelling Indicators of Ancient Life on Mars
NASA recently announced that its Perseverance rover has uncovered the clearest evidence yet of ancient life on Mars. The discovery concerns a reddish rock sample named Sapphire Canyon collected in… -
Technology
Neuralink Trial Implantations Underway at Toronto Hospital
Doctors at the University Health Network’s Toronto Western Hospital recently performed the first-ever implantations of the Neuralink brain-computer interface (BCI) outside of the United States. These…