PricewaterhouseCoopers and CB Insights' Q4 2016 Canadian MoneyTree report highlights the latest trends in venture capital funding in Canada.

2016 Canada Venture Capital Report

Ontario, Quebec, and BC regions took the lion’s share of financing to VC-backed companies in Canada

The top five Canadian markets by deal value for 2016 were Toronto, Montreal, Waterloo, Vancouver, and Ottawa


Global deals value dropped 23% on a full year basis versus 2015

Global deals volume dropped 10% on a full-year basis versus 2015

Top Places

Canadian Trends

The top five deals of the year accounted for $419M in total dollars secured by companies based in Ontario or Quebec

The three most active investors of 2016 were BDC, Innovacorp, and Real Ventures

Canadian technology deals and dollars rose in Q4’16, amid global declines

Annual dollars also climbed from 2015 in top markets of Toronto and Montreal; Vancouver deals rose, but dollars fell

Internet retains the top sector spot; Mobile & Telecom bumped Healthcare for second place

Internet of Things and Fintech remain thematic areas across the Canadian landscape

Movers and Shakers

Top Sectors

Internet funding for 2016 rose slightly thanks to healthy deal growth

Mobile & Telecom funding was boosted by several $20M+ deals

Healthcare funding slipped to third place as deals cooled in 2016