Deals by Quarter. Page | 3. 84. 80. 10197. 111. 92. 109. 119. 135132. 143. 0. 20. 40. 60. 80. 100 .... Capital, Fonds de solidarité, Groupe W, Samsung Venture,.
Canada Venture Capital Market Overview First Nine Months of 2015
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Deals by Quarter # Deals
$ Millions Invested
160
135
140 120 100
101 84
80
111 97
109
132
143
700 600
119
500
92
80
648
601
613
609
615
Q2
Q3
543 411
411
400
405
360
336
300
60
200
40 20
100
0
0 Q1
Q2
Q3
2013
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Q4
Q1
Q2
Q3
2014
Q4
Q1
Q2
2015
Q3
Q1
Q2
Q3
2013
Q4
Q1
Q2
Q3
2014
Q4
Q1
2015
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Deals by Province – First 3Q 2015 # Share Atlantic 9%
AB 4%
$ Share
SK-MB 1%
AB 6%
Atlantic 3%
BC 18% ON 37%
BC 15%
QC 34%
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ON 43%
QC 30% Page | 4
Top VC Sectors – First 3Q 2015 # Deals
# Share 238
ICT
AgriBusiness 4%
Others 8%
86
Life Sciences
Clean Tech 9%
36
Clean Tech
33
Others
ICT 58% Life Sciences 21%
17
AgriBusiness 0
50
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100
150
200
250
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Top VC Sectors – First 3Q 2015 $ Millions
$ Share
ICT
Agri Business 1%
947
Life Sciences
Other 4%
Clean Tech 5%
511 86
Clean Tech
Others
Life Sciences 31%
64
Agri Business
20 0
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200
400
600
800
ICT 58%
1,000
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VC Stage Breakdown – First 3Q 2015 $ Millions
# Deals Others 34
Early Stage
843
Seed 132 Bridge 63
Later Stage
381
Other
241
Seed
99
Later Stage 50 Bridge
Early Stage 131
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65 0
200
400
600
800
1,000
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Top 10 Canadian VC Deals – First 3Q 2015 Company
Province
Lightspeed POS Inc.
Québec
Clementia Pharmaceuticals Inc.
Québec
Kik Interactive Inc
Disclosed VC Firm(s)
$ Millions
Caisse de dépôt et placement du Québec, Investissement Québec, Accel Partners, Teralys, iNovia Capital New Enterprise Associates (NEA), BDC Capital, EcoR1 Capital, Janus Capital Management, OrbiMed Advisors, RA Capital, Rock Springs Capital
79
Ontario
Tencent Holdings
66
Resverlogix Corp.
Alberta
Eastern Capital, Shenzhen Hepalink Pharmaceutical Co.
50
Telesta Therapeutics Inc.
Québec
Consonance Capital, Omega Fund Management, Tavistock Group
37
Influitive Corporation
Ontario
Georgian Partners, Atlas Venture, BDC Capital, CommonAngels Ventures, Docomo Capital, First Round Capital, Hummer Winblad Venture Partners, Illuminate Ventures, OurCrowd Management, Relay Ventures, Resolute Ventures
36
Scribble Technologies Inc.
Ontario
OpenText Enterprise Apps Fund, Emerillon Capital, Blue Cloud Ventures, Northleaf Venture Catalyst Fund, Rogers Ventures, Summerhill Venture Partners, Georgian Partners, EDC and Waterloo Innovation BDC Capital, Frind Holdings
35
Cymax Stores Inc.
BC
74
33
Highland Therapeutics Inc.
Ontario
Eastern Capital
31
Real Matters Inc.
Ontario
Whitecap Venture Partners, Radar Capital, Urbana Corporation
30
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Most Active VC Firms – First 3Q 2015 Private Independent Firms VC Firms
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# Total Deals
$ Millions*
Real Ventures
61
106
iNovia Capital Inc.
33
457
Relay Ventures
19
161
Cycle Capital Management (CCM) Inc.
14
33
Yaletown Venture Partners
9
42
Avrio Ventures Management Corp.
9
12
Lumira Capital Investment Management Inc.
8
144
Wellington Financial LP
8
48
Pangaea Ventures Ltd.
7
40
EnerTech Capital
6
47
Vanedge Capital Partners Ltd
6
29
Rho Canada Ventures
6
27
iGan Partners Inc.
6
24
*Total deal values – includes all participating investors.
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Most Active VC Firms – First 3Q 2015 Pension, Retail, Corporate & Other Public Funds VC Firms
Government Funds
# Total Deals
$ Millions*
Fonds de solidarité FTQ
20
94
BDC Capital Inc.
75
453
OMERS Ventures Management Inc.
8
80
Investissement Québec
30
112
Fondaction CSN
7
6
Innovacorp
17
23
Difference Capital Financial Inc.
5
32
MaRS IAF
15
19
TELUS Ventures
5
22
New Brunswick Innovation Foundation (NBIF)
12
6
Desjardins Venture Capital
5
9
EDC Equity
8
62
VC Firms
# Total Deals $ Millions*
*Total deal values – includes all participating investors.
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Most Active Foreign Firms – First 3Q 2015 # Total Deals
$ Millions*
SR One
8
87
Bessemer Venture Partners
6
78
ff Asset Management LLC
6
69
Domain Associates, L.L.C.
4
72
Nexus Venture Partners
4
40
White Star Capital Inc.
4
18
Atlas Venture
3
51
VC Firms
*Total deal values – includes all participating investors.
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Most Active Legal Firms – First 3Q 2015 Legal Firms
# Total Deals
$ Millions*
LaBarge Weinstein LLP
19
168
Gowling Lafleur Henderson LLP
10
162
Borden Ladner Gervais LLP
9
28
Osler, Hoskin and Harcourt LLP
7
112
Cox & Palmer
4
1
McCarthy Tétrault LLP
4
25
Fasken Martineau DuMoulin LLP
3
95
Blake, Cassels & Graydon LLP
2
6
McInnes Cooper
2
3
blue HF legal services inc.
2
3
*Total deal values – includes all participating investors.
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Top Disclosed VC Exits – First 3Q 2015 VC Backers
Type
Company
$ Millions
Insight Venture Partners, Bessemer Venture Partners, FirstMark Capital, Georgian Partners, Felicis Ventures, OMERS Ventures
IPO
Shopify Inc.
1,604
Vivo Capital, Frazier Healthcare Ventures, OrbiMed Advisors, Adams Street Partners, RA Capital Management
IPO
ProNAi Therapeutics, Inc
634
Highland Capital Partners
IPO
Davids Tea Inc.
537
Caisse de dépôt et placement du Québec, EDC Equity, EnerTech Capital, Fonds de solidarité, Groupe W, Samsung Venture, Technovator
M&A
Distech Controls, Inc.
318
McLean Watson Capital, Desjardins Venture Capital, GTI Capital
M&A
SkyWave Mobile Communications Inc.
204
Extreme Venture Partners, iNovia Capital, Rho Canada Ventures, Metamorphic Ventures , Mantella Venture Partners, Metamorphic Ventures
M&A
Chango Inc.
155
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VC Fundraising – First 3Q 2015 Source of VC Fundraising ($ Millions) Individuals/Family Offices
Fund Type
430
Governments
255
Pension Funds
230
Fund of Funds
221
Corporations
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$50
$100
$150
$200
$250
Median ($M)
Private Funds
14
19
909
Retail Funds
5
13
267
Government Funds**
2
2
162
Total
21
34
1,338
**Includes BDC Capital internal allocation to a newly capped IT fund.
Median ($ Millions, private funds)
202 $0
# Funds Raised ($M)
$300
$350
$400
$450
$500
Fund Size
Closing
Initial Close (9 funds, 9 closings)
71
30
Subsequent Close (7 funds, 10 closings)
89
22
All Funds (14 funds, 19 closings)
78
29
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CVCA Methodology •
Dataset includes verified completed equity or quasi-equity venture capital deals only.
•
Not included are non-equity based government funding such as grants from FedDev, project financing from the SD Tech Fund of the Sustainable Development Technology Canada (SDTC), pharmaceutical product development deals, senior debt as part of overall financing package, venture capital-backed acquisitions, and angel financing.
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