PRELIMINARY LOOK: Q1 2020 VC & PE Canadian Market Overview
Canadian Venture Capital // Q1 2020.
According to preliminary data (final data is targeted to be published on June 3), Q1 VC investment hit $834M over 125 deals. Although this is a decline compared to three successive previous $1B+ quarters, it is almost at par with the first quarter last year when $897M was invested over 116 deals.
There were three $50M+ mega deals this quarter compared to six in the same period last year. Miovision Technologies Inc. was the sole disclosed mega deal closing its $120M Series C Round in January.
There were 3 VC-backed exits totaling $16M.
Canadian Private Equity // Q1 2020.
$4.5B was invested over 119 PE deals in Q1 which is twice the amount invested in the same quarter last year ($2B).
There were 5 PE-backed exits totaling $8.8B including the GFL Environmental IPO on TMX and NYSE.
Activity levels will likely be lower next quarter as firms reacted to Canada’s lock down in mid-March following World Health Organization’s March 11th official declaration that COVID-19 was a pandemic.