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.