Toronto is the leading destination of venture capital funding in 2016, according to a study released today by CPE Media Inc., Canada’s leading provider of private capital news and intelligence.
Toronto received $965 million in venture capital funding, almost as much as Vancouver and Montreal, the second and third place, combined.
Canada continues to be top-heavy in attracting venture capital funding, with the top 5 destinations, Toronto, Vancouver, Montreal, Kitchener, and Ottawa combined, attracting as much as 80% of all venture funding in 2016.
The following table ranks all 44 cities that have received venture funding in 2016.
| City | # Financings | $ Millions | Rank (#) | Rank ($) |
| Toronto | 73 | 965 | 1 | 1 |
| Vancouver | 67 | 519 | 2 | 2 |
| Montreal | 47 | 511 | 3 | 3 |
| Kitchener | 9 | 255 | 7 | 5 |
| Ottawa | 18 | 155 | 4 | 8 |
| Markham | 5 | 82 | 10 | 10 |
| Winnipeg | 6 | 81 | 9 | 4 |
| Waterloo | 11 | 63 | 5 | 12 |
| Quebec City | 5 | 60 | 11 | 7 |
| Halifax | 10 | 52 | 6 | 6 |
| Whitby | 2 | 40 | 19 | 9 |
| Calgary | 7 | 37 | 8 | 14 |
| Cambridge | 1 | 27 | 27 | 15 |
| Fredericton | 4 | 16 | 12 | 19 |
| Kelowna | 4 | 16 | 13 | 28 |
| Lévis | 1 | 14 | 28 | 18 |
| Hamilton | 1 | 13 | 29 | 20 |
| Surrey | 3 | 12 | 16 | 21 |
| Victoria | 4 | 11 | 14 | 11 |
| Burnaby | 3 | 11 | 17 | 22 |
| Mississauga | 3 | 10 | 18 | 23 |
| Saskatoon | 2 | 10 | 20 | 31 |
| Irricana | 1 | 6 | 30 | 32 |
| Laval | 2 | 6 | 21 | 33 |
| Brantford | 1 | 6 | 31 | 36 |
| London | 1 | 5 | 32 | 39 |
| North Vancouver | 1 | 5 | 33 | 13 |
| Kingston | 1 | 5 | 34 | 16 |
| St. John’s | 4 | 4 | 15 | 17 |
| Charlottetown | 1 | 3 | 35 | 24 |
| Richmond | 1 | 3 | 36 | 25 |
| Moncton | 2 | 3 | 22 | 26 |
| Newmarket | 2 | 3 | 23 | 27 |
| Edmonton | 2 | 3 | 24 | 29 |
| King City | 1 | 1 | 37 | 30 |
| Kamloops | 2 | 1 | 25 | 34 |
| Concord | 1 | 1 | 38 | 35 |
| Langley | 1 | 1 | 39 | 37 |
| Sherbrooke | 1 | 1 | 40 | 38 |
| Little Current | 1 | 1 | 41 | 40 |
| Montague | 1 | 0 | 42 | 41 |
| Richmond Hill | 2 | – | 26 | 42 |
| Brossard | 1 | – | 43 | 43 |
| Sydney | 1 | – | 44 | 44 |
Methodology
Data is complied from Private Capital Dealbase, CPE Media’s all new private capital deal database. Information is collected and cross-verified from numerous public sources.
Venture Capital deals include equity and quasi-equity investments led by professionally managed funds, family offices, private investment firms/merchant banks, corporate strategic investment units, and mutual and hedge fund mangers.
Excluded
- angel deals or angel deals in between venture rounds;
- subordinate debt investments by federal/provincial governments or retail funds as ways of economic and business support with no equity components;
- grants by federal/provincial economic development agencies or quasi-government agencies such as Sustainable Development Technology Canada (SDTC);
- pure pharmaceutical development deals;
- growth equity with significant minority equity positions.
CPE Media Analytics
We are Canada’s only data provider that specifically tracks and provides metrics on venture capital investments by investor type, by source of funding, and fundraising activities.
We provide trusted, unbiased (without undue industry influence), and verified private and public market news and intelligence to all industry stakeholders
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