According to PE Hub Canada, which provides regular updates on the funding environment in Canada, Q2’s top Canadian VC deals raked in $446 million from investors.
The $446 million is up 60 percent from the $279 million that went into the top 10 deals a year ago. In October last year, Reuters reported that VC investment for the first three quarters of 2015 was at a 14-year high.
The top ten list includes:
1) DalCor Pharma (Montréal): $127 million Series B in April
The round was backed by DalCor’s founding investors, André Desmarais and Sanderling Ventures, and joined by Caisse de dépôt et placement du Québec, Fonds de solidarité FTQ and CTI Life Sciences Fund.
2) Real Matters (Toronto): $100 million in April
This round valued the cloud-based real estate technology platform at $653 million. More than 20 public-market investors committed to the deal, with participating from Whitecap Venture Partners. Using the funding, Real Matters acquired Linear Title & Closing.
3) Flipp (Toronto): $61 million in April
Flipp secured a $61 million strategic investment from General Atlantic, which reportedly valued the company at about $400 million.
4) League (Toronto): $32 million in June
League pulled in about $32 million (US$25 million) in a Series A financing. OMERS Ventures, which led League’s seed funding in 2014, also led the Series A round. The round was joined by Infinite Potential Technologies, Real Ventures and BDC Capital, as well as strategic investors RBC, Manulife and Power Financial Corp.
5) PrecisionHawk (Toronto): $23 million in April
PrecisionHawk, which provides data collection and safety platforms for drones, raised nearly $23 million (US$18 million). Verizon Ventures, a USAA subsidiary, NTT Docomo Ventures, Yamaha Motor, Intel Capital, Millennium Technology Value Partners and Innovate Indiana Fund invested in the round. PrecisionHawk, which was founded in Toronto, operates in the city but has its headquarters in Raleigh, North Carolina.
6) Q4 (Toronto): $22 million in May
Q4 closed $22 million in Series B funding. Investors included OpenText Enterprise Apps Fund, Information Venture Partners, HarbourVest Partners, Emerillon Capital, and Kensington Capital Partners. Plaza Ventures and Accomplice, which backed the company’s Series A, also participated in the round.
7) Titan Medical (Toronto): $21 million in June
Titan Medical, a publicly listed robotic surgical technology company, obtained funding of about $21 million (US$16 million). The financing will be provided in two tranches by Shanghai Jugu Equity Investment Fund.
8) Bench (Vancouver): $20 million in May
Online bookkeeping service Bench received a little more than $20 million (US$16 million) in Series B financing led by Bain Capital Ventures. Bain was joined by Altos Ventures and Contour Venture Partners, which also invested in the company’s Series A round in 2015.
9) Assent Compliance (Ottawa): $20 million in May
Assent Compliance took $20 million in a first-time funding deal. The deal was led by Volition Capital and included participation from OpenText Enterprise Application Fund, BDC Capital, National Research Council of Canada, Royal Bank of Canada and other investors. Assent helps businesses to manage their supply chains and product compliance.
10) Peraso Technologies (Toronto): $20 million in April
Fabless semiconductor company Peraso Technologies also secured a $20 million Series C. The Series C financing was co-led by Integrated Device Technology and existing investor Roadmap Capital, and was joined by another existing investor, iNovia Capital. Peraso, which develops a USB stick solution for backwards compatibility of legacy devices, is also backed by Celtic House Venture Partners.
