The document provides an overview of the Canadian venture capital market in 2014. Some key points:
- Total deals and dollars invested peaked in Q3 2014, with 638 deals for $638 million.
- Ontario received the most deals (49% of total) and dollars invested (41% of total).
- Information and communication technologies (ICT) dominated both by number of deals (63%) and dollars (66%) invested. Life sciences was second largest sector.
- The top five venture capital deals by dollars invested were in ICT, life sciences and cleantech companies, with individual deals ranging from $38 million to $91 million.
- BDC Capital and Real Ventures led by number of deals,
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Top VC Sectors
ICT
66%
Life Sciences
22%
Cleantech
7%
Agri Business
2%
Other
3%
$ Share
1273.58
422.52
132.66
38.34
49.96
0 200 400 600 800 1000 1200 1400
ICT
Life Sciences
Cleantech
AgriBusiness
Others
$ Millions
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Top VC Deals
Canadian Companies
Company Province $ Millions Disclosed Investors
D2L Inc. Ontario 91.3
Columbus Nova Technology Partners, Graham Holdings, Four Rivers Group, Aurion
Capital, NEA, OMERS Ventures, Silicon Valley Bank
HootSuite Media Inc. BC 66.5 Accel, Insight Venture Partners, OMERS Ventures, Difference Capital
D-Wave Systems Inc. BC 61.8
Fidelity, PSP, bcIMC, BDC Capital, Goldman Sachs, Explore Holdings, Astrolink, DFJ,
Discovery Capital, GrowthWorks, Kensington Capital Partners
Aurinia Pharmaceuticals Inc. BC 57.1
venBio, NEA, Lumira Capital, ILJIN Life Science, Apple Tree Partners, Great Point
Partners, RA Capital, Redmile Group, Difference Capital
WP Technology Inc. dba Wattpad Ontario 51.5
OMERS Ventures, August Capital, Raine Group, Northleaf Capital Partners, Union
Square Ventures, Khosla Ventures, AME Cloud Ventures, Golden Venture Partners,
Version One Ventures
LightSpeed Retail Inc. Québec 38.3 iNovia Capital, Accel Partners
Kik Interactive Inc Ontario 38.3
Valiant Capital, Foundation Capital, RRE Ventures, Spark Capital, Union Square
Ventures, Millennium TVP Management, SV Angel
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Most Active Canadian VC Firms
Private Independent
Firm # Deals
Deal Values ($ millions)
(total deal values – includes all participating
investors)
Real Ventures 42 123.6
iNovia Capital 14 131.6
Yaletown Venture Partners 10 52.6
Version One Ventures 8 127.5
Chrysalix Energy Venture Capital 8 35.1
Georgian Partners Inc. 7 85.6
Rho Canada Ventures 7 34.5
EnerTech Capital 7 42.0
Relay Ventures 6 37.0
Kensington Capital Partners Limited 5 68.5
Golden Venture Partners 5 76.9
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Most Active Canadian VC Firms
Government & Other Fund Types
Firm # Deals
Deal Values ($ millions)
(total deal values – includes all
participating investors)
BDC Capital Inc. 102 426.1
MaRS IAF 28 92.6
New Brunswick Innovation Foundation (NBIF) 18 8.4
Innovacorp 14 14.4
EDC Equity 10 108.3
Ontario Capital Growth Corporation (OCGC) 5 32.1
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Most Active Canadian VC Firms
Pension, Retail, Corporate & Other Public Funds
Firm # Deals
Deal Values ($ millions)
(total deal values – includes all
participating investors)
Fonds de solidarité FTQ 17 87.4
Difference Capital Financial Inc. 11 250.7
OMERS Ventures Management Inc. 9 310.5
Fondaction CSN 9 51.2
GrowthWorks Capital Ltd. 6 36.4
Westcap Mgt. Ltd. 5 21.2
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Top 5 Disclosed VC Exits
VC Backers Type Company $ Millions
TechnoCap, HarbourVest IPO Kinaxis 100.6
W2 Group and Fonds de solidarité FTQ
investissements croissance
IPO Lumenpulse Inc. 100.0
Avrio Capital M&A Wolf Trax Inc. 95.0
Ventures West, B.C. Advantage Fund, Baker
Brothers, Augment Investments, Johnson &
Johnson Development, Pfizer
IPO
Aquinox
Pharmaceuticals Inc.
51.2
MX Associates, Lipoterx, InterWest Partners,
FMR, INVESCO Private Capital, JPMorgan
Partners, Novo A/S, Pfizer, Royal Bank Capital
Partners, Working Opportunity Fund, Ventures
West, Takeda, Novartis Pharma
IPO
Xenon
Pharmaceuticals Inc.
47.1
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2014 VC Fundraising
Individuals
42%
Government
22%
Corporation/Financial
Insitutions/Insurance
10%
Pension
6%
Fund of Funds
15%
Undisclosed
5%
Source of VC Fundraising
492.56
259.5
171.95
116.44
65
61
0 100 200 300 400 500 600
Individuals
Government
Fund of Funds
Corporation/Financial Insitutions/Insurance
Pension
Undisclosed
Source of VC Fundraising
13. 1201 – 372 Bay Street. Toronto, Ontario, M5H 2W9, Canada
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Tel. (416) 487-0519 | Fax. (416) 487-5899 | Web. www.cvca.ca