Toronto – the leading destination of venture funding in 2016

CPE Analytics

Updated on:

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.