Osler is proud to have advised on $7.82 billion in venture capital financings in 2021, a staggering 238% increase from our total deal value in 2020, despite the continuing effects of the COVID-19 pandemic on the fundraising landscape. Osler advised on 272 deals last year, representing 3% more deal volume than the previous year.
A recent report from Silicon Valley Bank shows that venture capital-backed Canadian companies raised more than $16 billion in publicly announced deals in 2021. The report notes that though the largest shares of venture investment went to companies based in Ontario, British Columbia and Québec, Alberta saw 71% more deals in 2021 than 2020, an encouraging sign given recent investment in the province’s technology sector. The median valuation, meanwhile, more than doubled from $11.7 million to $26 million.
Fourteen Canadian companies, primarily in enterprise software, also achieved unicorn status in 2021 with valuations above US$1 billion. These include Osler clients like crypto technology leader Blockstream, e-commerce investor Clearco, legal technology company Clio and mobile travel app Hopper.
Osler also acted on six of the top 10 disclosed venture capital deals identified in a new Canadian Venture Capital & Private Equity Association report for 2021, involving Wealthsimple, Applyboard, Dapper Labs (on behalf of investor Coatue), Clearco, Blockstream and Loopio.
Osler’s leading Emerging and High Growth Companies and Venture Capital teams help clients recognize, develop and realize significant and innovative venture capital opportunities. We advise both emerging and high growth companies and investors nationwide on the unique issues involved in venture capital deals.
