Canadian investment funds report $213B fundraising in 2023

CPE Analytics

2023 Investment Fund Fundraising - Equity, Ontario based funds and Ontario investors led overall fundraising; BlackRock Canada led $1 billion+ mega fundraising with 7 funds for $33.8B while Sun Life led with 9 mega fundraising for $13.95B.

2023 Canadian Exchange IPO drought, $202M, lowest since 2016

CPE Analytics

2023 Canadian exchange IPO amount became the new low since 2016, $597M lower than previous low of $799M recorded in 2016.

Canadian governments dramatically ramp up share of total funding

CPE Analytics

Government investors, primarily Canadian government investors,  invested $667M in the first nine months of 2023 for 14% share of total amount, compared to share of 8% ($778M) in 2023.

Where does the Canadian VC funding come from?

CPE Analytics

Out of the $4.63B Canadian VC funding in the first 9 months of 2023, $2.06B came from Canada, $1.80B from US investors and $771M from international investors.

Canadian VC results – first nine months of 2023

CPE Analytics

507 VC financings completed for $4.63B into Canadian companies for the first nine months of 2023, compared to 535 financings for $6.62B for the same period in 2022.

Canadian IPO almost dead so far in November

CPE Analytics

November 2023 Canadian IPO so far is almost dead with one CPC IPO, Jo-Jo Capital Canada Ltd., and a NYSE American IPO, Pineapple Financial Inc. (NYSE American: PAPL).

Canadian IPO market shows little sign of life

CPE Analytics

Canadian IPO market remains dormant with CSE as only bright highlight of first 9 months of 2023. Canadian IPO woe is not due to "jittery" investor demand but lack of financially strong company candidates. Canadian investors bought $610M worth US and International IPO shares.

Canadian SPACs blue

Ted Liu

Canadian special purpose acquisition corporations (SPACs) as investment vehicles approved to be waste of investors' time and money: 5 of 8 SPACs (since 2021) redeemed, 2 pending QAs, 1 completed QA performed extremely poor.

BDC Venture Capital Performance in Fiscal Year 2023: An Ocean of Red Ink

Richard Rémillard

BDC reported net loss $637.9M in FY 2023 for the VC program, compared to net income of $988M in FY 2022. One can look beyond BDC's own numbers for clues about the performance of Canadian venture capital.

US VC and US corporate VC propel Q2 2023 Canadian VC recovery

CPE Analytics

Canadian VC recovered in Q2 to report $3.25B in total disbursements for first half of 2023. US VC and US corporate VC propelled recovery with $1.06B invested, representing almost 1/3 of the total funding

2023 1st Half IPOs – 2023 projects to be the worst IPO year since 2016

CPE Analytics

Based on annualized results from first half results (34 IPOs for $172M), 2023 would be on its way to raise $344M AND become the worst IPO year in term of total amount raised, representing less than 50% of the $799M raised in previous worst IPO year in 2016.

The performance of Canadian issuers went public via SPAC/QA

CPE Analytics

Canadian companies, The Lion Electric Company, Li-Cycle Holdings Corp, TMC the metals Co Inc., D-Wave Quantum, Inc., Hammerhead Energy Inc., that went public on NASDAQ and NYSE by way of SPAC qualifying acquisition (QA) performed poorly

Governments life support cliff falling Q1, 2023 Canadian VC

CPE Analytics

Q1 2023 Canadian VC disbursements barely passed $1B with life support from governments and strong fundraising by Quebec companies. $146M raised by VC firms is of concern.

2022, 2nd best VC year at $9.4B

CPE Analytics

Though down substantially from Canada's best VC year 2021, 2022 managed to hold its place as the second best year since 2017. US and international invested $5.94B accounting for 63% of total disbursements.

Does LIFE make life easier for public company fundraising?

CPE Analytics

Canadian listed companies raised $121M in Q1 2023 by way of Listed Issuer Financing Exemption (LIFE), averaging $79K, far behind $579K per investor by accredited investor exemption.

Employee Ownership Trusts

Mark Borkowski

Mark Borkowski: Seemingly to be a great idea, current structure of Employee Ownership is a smoke screen.

A Venture Capital Nightmare

Richard Rémillard

Why every venture capital industry stakeholder in Canada should care about the performance of BDC venture capital program - apathy and usual ritual of burying head in sands will not do.

Q1 2023 – 21 Canadian IPOs raise $172.8M – Updated

CPE Analytics

21 Canadian IPOs completed on CSE, TSX-V, TSX and NASDAQ in Q1 2023. Lithium Royalty's $150M TSX IPO accounted for 87% of amount. CSE's 8 IPOs accounted for 80% of non-CPC IPOs. Lucy Scientific Discovery'S US $5.8M NASDAQ IPO was sole Canadian IPO on foreign exchange

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