1. Deals Analysis
June 3, 2021

Technology industry venture financing deals total $1.27bn in Canada in Q1 2021

By Carmen

Total technology industry venture financing deals worth $1.27bn were announced in the in Q1 2021, with $305m venture financing of Dapper Labs being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked an increase of 596.4% over the previous quarter and a rise of 245.9% when compared with the last four-quarter average of $367.19m.

Canada held a 1.69% share of the global technology industry venture financing deal value that totalled $75.02bn in Q1 2021.

In terms of deal activity, Canada recorded 79 deals during Q1 2021, marking an increase of 51.92% over the previous quarter and a a rise of 16.18% over the last four-quarter average.

Canada technology industry venture financing deals in Q1 2021: Top deals

The top five technology industry venture financing deals accounted for 64.3% of the overall value during Q1 2021.

The combined value of the top five venture financing deals stood at $814.21m, against the overall value of $1.27bn recorded for the quarter.

The top five technology industry deals of Q1 2021 tracked by GlobalData were:

1) Andreessen Horowitz, Coatue Management, The Chernin Group, Union Square Ventures, Venrock and Version One Ventures’ $305m venture financing of Dapper Labs

2) The $170m venture financing of Hopper by Capital One Financial, Citi Ventures, GS Growth, iNovia Capital and Westcap Group

3) Georgian Partners’ $130m venture financing of Tophatmonocle

4) The $124.51m venture financing of Prodigy Education by Canadian Business Growth Fund and TPG Growth

5) Acreway, Bee Partners, Full In Partners, iNovia Capital, Lion Capital, Telstra Ventures and Thayer Ventures’ venture financing of Snapcommerce Technologies for $84.71m.

Verdict deals analysis methodology

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.