TLDR:
- Resilience and renewal characterized the Canadian venture capital ecosystem in 2023.
- A Deal Points Report analyzed 486 venture capital and growth equity preferred share financings completed by Osler from 2020 to 2023, totaling over $7.7 billion.
Amid economic flux and technological disruption, Canada’s emerging and high growth companies ecosystem embraced resilience and renewal in 2023. The ecosystem demonstrated resilience as investments in artificial intelligence and cleantech increased. Ontario, British Columbia, and Québec continued as major engines of the Canadian venture space.
In 2023, there were more down rounds and flat rounds than in prior years, as cash conservation and bridge financing strategies were exhausted. However, early-stage financings accounted for 78% of all such financings, indicating investor and founder confidence in the future of the ecosystem. Key venture financing terms largely remained consistent with prior years.
In 2024, Osler’s team aims to monitor the growth in markets such as the Prairies and Atlantic Canada, as well as industries like Artificial Intelligence, Agtech, and CleanTech. The report provides valuable insights and information for companies looking to navigate the venture capital landscape in Canada.
