PRELIM: Q4 - 2020 - Canadian VC & PE
PRELIM: Q4 - 2020

Canadian VC & PE

Note:

The following data analysis and trends are 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 Q4-2020 private capital markets on March 242021.

Venture Capital Prelim Findings

  • 2020 saw the second-highest level of annual VC investment based on our existing records, with $4.5B across 510 deals, and is second only to 2019 — an outlier year marked by megadeals and $6.2B total investments. 
  • In Q42020 Canadian VCs invested just under $1B across 126 deals, including 4 mega deals ($50M+), which is a 35% decrease compared to $1.5B in Q4 — 2019 while exceeding the 5‑year average of $876M (from 2014 – 2019). 
  • There were 11 VC-backed exits in Q4 — 2020, with BC-based Abcellera being the largest exit, listing on the NASDAQ with a market cap of $6.7B, making it also the largest deal of the year. 
PRELIMINARY Q4 2020 VC INVESTMENT ACTIVITY

Private Equity Prelim Findings

  • 2020 had the third-lowest level of annual PE investment based on our existing records, with $14B invested across 635 deals, surpassing the lowest year on record in 2013 ($11.3B over 270 deals) and 2016 ($13.8B over 541 deals). 
  • A total of $2.2B was invested across 195 PE deals in Q42020, which was an 82% decline compared to the same period in 2019 ($12B)
  • There were 6 mega deals ($500M+) in 2020, representing half of all total PE dollars invested. 
  • 25 PE-backed exits took place in Q42020, the largest was Alberta-based Topaz Energy Corp, listing on the TSX with a market cap of $1.4B. The largest deal for the year was GFL Environmental, listing on the TSX in February with a market cap of $7.7B.
PRELIMINARY Q4 2020 PE INVESTMENT ACTIVITY
Participating Data Contributors - Prelim Q4 20
PRELIM: Q4 - 2020 - Canadian VC & PE

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