Calgary led Alberta in venture capital investments in 2020, which also marked a record year of investment for the province.
According to the Canadian Venture Capital and Private Equity Association (CVCA), Alberta saw 51 deals completed, resulting in a total of $455 million in investment. Calgary had 33 of these deals, and $353 million of the total investments.
ICT (Information, Communications & Technology) and Life Sciences sectors had the most deals in 2020, receiving more than 80 per cent of all the investments made that year. These sectors were also the big winners in Alberta, with 28 and 8 deals, respectively. Clean Tech and Agribusiness were the two other sectors to receive VC funding in the province.
Alberta startups who raised equity financing were able to employ 2,542 Albertans, with 2,123 of those positions in Calgary.
Calgary’s Symend, which raised $73 million in Series B funding in 2020, was included on Canada’s top ten list of deals. Edmonton’s Jobber, which raised $76 million in venture capital investment was also on the list. When it comes to top Canadian cities to raise venture capital, Calgary secured the fourth position overall, while Edmonton took sixth.
To view the full report, visit the CVCA’s website.