Key Findings: Year-End 2023

VC: CAD 6.9B raised across 660 deals overall in 2023.

Investment activity slowed down y-o-y against the continued backdrop of high interest rates and looming recession fears.

PE: 2023 saw a total of 625 deals and CAD 9.7B raised.

However, there were 68 exits totaling CAD 581M, with the first PE-backed IPO since 2021.

VC: US VC activity continues to follow similar trend of decline.

US VC in 2023 had the least dollars invested since Q4 2019 and the lowest deal count since Q4 2017.

PE: 84% of all deals with disclosed values were under CAD 25M.

SMEs, central to the Canadian economy, benefit from PE investment, driving 85% of new job creation.

Canadian VC: Demonstrated Measured Steadiness and Cautious Optimism