Canada Venture Capital Market Overview First Nine Months of 2015

Transcription

1 Canada Venture Capital Market Overview First Nine Months of 2015

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3 Deals by Quarter # Deals $ Millions Invested Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q Page 3

4 Deals by Province First 3Q 2015 # Share $ Share Atlantic 9% AB 4% SK-MB 1% AB 6% Atlantic 3% BC 15% ON 37% BC 18% ON 43% QC 34% QC 30% Page 4

5 Top VC Sectors First 3Q 2015 # Deals # Share ICT Life Sciences Clean Tech AgriBusiness 4% Clean Tech 9% Others 8% Others AgriBusiness Life Sciences 21% ICT 58% Page 5

6 Top VC Sectors First 3Q 2015 $ Millions $ Share ICT Life Sciences Clean Tech 5% Agri Business 1% Other 4% Clean Tech 86 Others Agri Business Life Sciences 31% ICT 58% ,000 Page 6

7 VC Stage Breakdown First 3Q 2015 # Deals $ Millions Bridge 63 Others 34 Seed 132 Early Stage Later Stage Other 241 Later Stage 50 Seed Bridge Early Stage ,000 Page 7

8 Top 10 Canadian VC Deals First 3Q 2015 Company Province Disclosed VC Firm(s) $ Millions Lightspeed POS Inc. Québec Caisse de dépôt et placement du Québec, Investissement Québec, Accel Partners, Teralys, inovia Capital Clementia Pharmaceuticals Québec New Enterprise Associates (NEA), BDC Capital, EcoR1 Capital, Janus Capital Management, Inc. OrbiMed Advisors, RA Capital, Rock Springs Capital Kik Interactive Inc 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 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 35 Catalyst Fund, Rogers Ventures, Summerhill Venture Partners, Georgian Partners, EDC and Waterloo Innovation Cymax Stores Inc. BC BDC Capital, Frind Holdings 33 Highland Therapeutics Inc. Ontario Eastern Capital 31 Real Matters Inc. Ontario Whitecap Venture Partners, Radar Capital, Urbana Corporation 30 Page 8

9 Most Active VC Firms First 3Q 2015 Private Independent Firms VC Firms # Total Deals $ Millions* Real Ventures inovia Capital Inc Relay Ventures Cycle Capital Management (CCM) Inc Yaletown Venture Partners 9 42 Avrio Ventures Management Corp Lumira Capital Investment Management Inc Wellington Financial LP 8 48 Pangaea Ventures Ltd EnerTech Capital 6 47 Vanedge Capital Partners Ltd 6 29 Rho Canada Ventures 6 27 igan Partners Inc *Total deal values includes all participating investors. Page 9

10 Most Active VC Firms First 3Q 2015 Pension, Retail, Corporate & Other Public Funds VC Firms # Total Deals $ Millions* Fonds de solidarité FTQ OMERS Ventures Management Inc Fondaction CSN 7 6 Difference Capital Financial Inc TELUS Ventures 5 22 Desjardins Venture Capital 5 9 Government Funds VC Firms # Total Deals $ Millions* BDC Capital Inc Investissement Québec Innovacorp MaRS IAF New Brunswick Innovation Foundation (NBIF) 12 6 EDC Equity 8 62 *Total deal values includes all participating investors. Page 10

11 Most Active Foreign Firms First 3Q 2015 VC Firms # Total Deals $ Millions* SR One 8 87 Bessemer Venture Partners 6 78 ff Asset Management LLC 6 69 Domain Associates, L.L.C Nexus Venture Partners 4 40 White Star Capital Inc Atlas Venture 3 51 *Total deal values includes all participating investors. Page 11

12 Most Active Legal Firms First 3Q 2015 Legal Firms # Total Deals $ Millions* LaBarge Weinstein LLP Gowling Lafleur Henderson LLP Borden Ladner Gervais LLP 9 28 Osler, Hoskin and Harcourt LLP 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. Page 12

13 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 Page 13

14 VC Fundraising First 3Q 2015 Individuals/Family Offices Governments Pension Funds Source of VC Fundraising ($ Millions) Fund Type # Funds Raised ($M) Median ($M) Private Funds Retail Funds Government Funds** Total ,338 Fund of Funds Corporations $0 $50 $100 $150 $200 $250 $300 $350 $400 $450 $500 **Includes BDC Capital internal allocation to a newly capped IT fund. Median ($ Millions, private funds) Fund Size Closing Initial Close (9 funds, 9 closings) Subsequent Close (7 funds, 10 closings) All Funds (14 funds, 19 closings) Page 14

15 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. Page 15

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