Canada's Venture Capital Landscape 2024
Canada's venture capital (VC) investors remained cautious in 2023 in the face of a global market correction in the industry. The number of VC-backed deals was down 13% year-over-year, while dollars invested dropped 34%. Canadian VC 10-year internal rate of return (IRR) decreased to 11.7% in 2023, observing a similar downward trajectory as U.S. VC returns and continuing to close the gap against it.
Nevertheless, venture capital activity could stabilize in the coming years, thanks in part to an estimated $10.4 billion of dry powder being held by Canadian investors, which could have an impact on the ecosystem once the macroeconomic sentiment changes.
Venture capital investment remains high compared to recent years. There were 660 transactions for a total of $6.9 billion invested, which is 0.36% of the Canadian GDP.
The report’s 2024 edition highlights key metrics from last year, significant progress that has been made over the past 10 years and the work that remains to be done to return to sustainable growth for the ecosystem.
You will discover
- Canadian national and regional VC market evolution compared with global trends.
- Deal volume, average deal value and capital deployment within the sector.
- An overview of venture capital funds active in Canada by sector, investment activity and region.
