1. Deals Analysis
June 28, 2021

Technology industry venture financing deals total $616.8m in Canada in May 2021

By Carmen

Total technology industry venture financing deals worth $616.8m were announced in Canada in May 2021, led by $130m venture financing of Ada Support, according to GlobalData’s deals database.

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The value marked an increase of 17.2% over the previous month of $526.47m and a rise of 169.1% when compared with the last 12-month average of $229.24m.

Canada held a 3.05% share of the global technology industry venture financing deal value that totalled $20.25bn in May 2021.

In terms of venture financing deal activity, Canada recorded 26 deals during May 2021, marking an increase of 8.33% over the previous month and a rise of 13.04% over the 12-month average.

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

The top five technology industry venture financing deals accounted for 73.3% of the overall value during May 2021.

The combined value of the top five technology venture financing deals stood at $451.85m, against the overall value of $616.8m recorded for the month.

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

1) Accel, Bessemer Venture Partners, Burst Capital, FirstMark Capital, Spark Capital, Tiger Global Management and Version One Ventures’ $130m venture financing of Ada Support

2) The $100m venture financing of Xanadu Quantum Technologies by BDC Capital, Bessemer Venture Partners, Capricorn Venture Partners, Georgian Partners Growth, In-Q-Tel, Ontario Municipal Employees Retirement System, Tiger Global Management and Tim Draper

3) Lugard Road Capital and Nicola Wealth Management’s $98.85m venture financing of VendAsta Technologies

4) The $80m venture financing of Dooly.ai by Boldstart Ventures, BoxGroup, GreenSpring Ventures, Lachy Groom, Spark Capital and Tiger Global Management

5) David Northington, Delta-v Capital, Gary DiOrio, Jeff Rich and Salesforce Ventures’ venture financing of OSF Global Services for $43m.

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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