The following data analysis and trends is preliminary and subject to change. Confidential survey submissions were not included in the analysis; final data report figures are expected to have a slight variation in comparison to the preliminary report.
The CVCA is targeting to publish the full analysis of Canadian Q3-2020 private capital markets on November 26.
Venture Capital Prelim Findings
According to preliminary data, Q3 VC investment was just slightly less than $1B invested over 111 deals, with 3 mega deals completed ($50M+). Although Q3-2020 is a 60% decrease compared to the $2.4B outlier Q3 in 2019, the quarter is on-par compared to the average from 2013 – 2018 ($976M). YTD Q3 activity remains strong, with $3.6B dollars invested, across 395 deals. FY 2020 is on track to be the second highest year on record, second only to 2019 ($6.2B).
There were 3 VC-backed exits in Q3; most notably, Quebec-Based Mobeewave which was acquired by Apple in August.
Private Equity Prelim Findings
According to preliminary data, $940M was invested over 95 PE deals in Q3 which was 52% lower than $1.9B than the same quarter last year. YTD Q3-2020 is higher than YTD Q3-2019, with $11.3B invested across 393 deals, compared with $7B across 519 deals. Mega deals ($500M+) continue to drive activity in YTD Q3-2020, representing 62% of all total dollars invested.
There were 5 PE-backed exits in Q3; among them was Quebec-Based Nuvei, which completed its IPO on the TSX valued at $4.6B CAD. CVCA members Novacap Management, Fonds de solidarité (FTQ), and Caisse de dépôt et placement du Québec were all investors in Nuvei.
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