1. Deals Analysis
April 5, 2021updated 15 Apr 2021 10:58am

Technology industry venture financing deals total $534.86m in Canada in February 2021

By Carmen

Total technology industry venture financing deals worth $534.86m were announced in Canada in February 2021, led by $250m venture financing of Dapper Labs, according to GlobalData’s deals database.

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The value marked an increase of 98.8% over the previous month of $269.07m and a rise of 318% when compared with the last 12-month average of $127.96m.

Canada held a 3.19% share of the global technology industry venture financing deal value that totalled $16.77bn in February 2021.

In terms of venture financing deal activity, Canada recorded 27 deals during February 2021, marking an increase of 17.39% over the previous month and a rise of 22.73% over the 12-month average.

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

The top five technology industry venture financing deals accounted for 84.7% of the overall value during February 2021.

The combined value of the top five technology venture financing deals stood at $452.83m, against the overall value of $534.86m recorded for the month.

The top five technology industry venture financing deals of February 2021 tracked by GlobalData were:

1) Coatue Management’s $250m venture financing of Dapper Labs

2) The $130m venture financing of Tophatmonocle by Georgian Partners

3) iNovia Capital’s $43m venture financing of Symend

4) The $16m venture financing of HYAS Infosec by 205 Capital, Cyber Mentor Fund, Dcode Capital, M12, S3 Ventures, Startup Capital Ventures, Tightline and Uncorrelated Ventures

5) Cycle Capital Management, Export Development Canada, NanoDimension Capital, Paul Jacobs, Real Ventures and Sanjay K. Jha’s venture financing of SPARK Microsystems International for $13.83m.

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.

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