1. Deals Analysis
March 22, 2022

Technology industry venture financing deals total $1.4bn in Canada in February 2022

By Carmen

Total technology industry venture financing deals worth $1.4bn were announced in Canada in February 2022, led by $325m venture financing of eSentire, according to GlobalData’s deals database.

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The value marked an increase of 52.9% over the previous month of $922.36m and a rise of 111% when compared with the last 12-month average of $668.29m.

Canada held a 5.84% share of the global technology industry venture financing deal value that totalled $24.14bn in February 2022.

In terms of venture financing deal activity, Canada recorded 42 deals during February 2022, marking an increase of 31.25% over the previous month and a rise of 31.25% over the 12-month average.

Canada technology industry venture financing deals in February 2022: Top deals

The top five technology industry venture financing deals accounted for 66.1% of the overall value during February 2022.

The combined value of the top five technology venture financing deals stood at $931m, against the overall value of $1.4bn recorded for the month.

The top five technology industry venture financing deals of February 2022 tracked by GlobalData were:

1) Caisse de depot et placement du Quebec,Georgian Partners and Warburg Pincus $325m venture financing deal with eSentire

2) The $270m venture financing of Paper EducationInc by BDC Capital,Bullpen Capital,Framework Venture Partners ,IVP,Reach Capital,Red House Education,Salesforce Ventures,Sapphire Ventures and SoftBank Vision Fund II

3) Fei-Fei Liu,Geoffrey Hinton,Index Ventures,Pieter Abbeel,Radical Ventures,Raquel Urtasun,Section 32 and Tiger Global Management $125m venture financing deal with Cohere

4) The $116m venture financing of LeddarTech by ams OSRAM,BDC Venture Capital,Cowen Investment II,DESJARDINS CAPITAL,Export Development Canada,Fidelity Investments Canada,Fonds de solidarite FTQ,FS Investors,Go Capital ,Investissement Quebec and UI Investissement

5) TDM Growth Partners and Workday Ventures $95m venture financing deal with League

Verdict deals analysis methodology

This analysis considers only announced and completed big data 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.

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