vc & pe quÉbec market overview // 2016 · 2017-06-09 · vc & pe quÉbec market overview...
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VC & PE QUÉBEC MARKET OVERVIEW
// 2016NOTE: THIS IS THE FIRST YEAR THAT THE RÉSEAU CAPITAL IS PARTNERING WITH CVCA
TO PRODUCE VC AND PE STATISTICS FOR QUÉBEC. THUS, DATA COMPARISONS AGAINST PREVIOUS YEARS MAY NOT BE CONSISTENT WITH RÉSEAU CAPITAL’S HISTORICAL REPORTS.
VENTURE CAPITAL & PRIVATE EQUITY QUÉBEC MARKET OVERVIEW // 2016 | 2
CONTENTS
FOREWORD ...................................................................................................................................... 3 VC & PE ACTIVITY .................................................................................................................................................................... 4 # VC & PE DEALS BY ADMINISTRATIVE CENTRE ........................................................................................... 5
VENTURE CAPITAL QUÉBEC MARKET OVERVIEW .........................................................6 QUÉBEC VENTURE CAPITAL HIGHLIGHTS ......................................................................................................... 7
VENTURE CAPITAL HEAT MAP ..................................................................................................................................... 8 QUARTER-OVER-QUARTER VC INVESTMENT IN QUÉBEC ................................................................... 9 VC ACTIVITY BY DEAL SIZE ........................................................................................................................................... 10 VC SECTOR BREAKDOWN ............................................................................................................................................... 11 VC STAGE BREAKDOWN ................................................................................................................................................. 12 TOP 10 QUÉBEC VC DEALS ............................................................................................................................................ 13 TOP VC EXITS ............................................................................................................................................................................ 14MOST ACTIVE FIRMS IN QUÉBEC ............................................................................................................................. 15
PRIVATE EQUITY QUÉBEC MARKET OVERVIEW ........................................................... 16 PRIVATE EQUITY HIGHLIGHTS .................................................................................................................................... 17
PRIVATE EQUITY HEAT MAP ......................................................................................................................................... 18 QUARTER-OVER-QUARTER PE INVESTMENT IN QUÉBEC .................................................................. 19 PE ACTIVITY BY DEAL SIZE ........................................................................................................................................... 20 PE SECTOR BREAKDOWN .............................................................................................................................................. 21 TOP 10 QUÉBEC PE DEALS ............................................................................................................................................ 22 TOP DISCLOSED QUÉBEC PE EXITS ....................................................................................................................... 23MOST ACTIVE PE INVESTORS IN QUÉBEC ........................................................................................................ 24 CVCA METHODOLOGY .............................................................................................................. 25 VENTURE CAPITAL ............................................................................................................................................................... 25 PRIVATE EQUITY ............................................................................................................................................................ 26, 27
CVCA/RÉSEAU CAPITAL ABOUT & CONTACT .............................................................. 28
VENTURE CAPITAL & PRIVATE EQUITY QUÉBEC MARKET OVERVIEW // 2016 | 3
FOREWORD
Québec sets new high-water marks for venture capital activity in 2016
The VC market in Québec was on fire in 2016. Just over a billion dollars in venture capital was invested in the province last year, including $250M dollars in Q4 alone.
In 2016, Québec was home to nearly one third (32 per cent) of Canada’s 530 venture capital transactions. Later-stage companies received the largest share of the province’s VC investments (57 per cent), while startups and early-stage growth companies captured 43 per cent of VC dollars. Montréal-based companies received a total of $835M over 119 investments, second only to Toronto.
“Venture capital is a good indicator of the level of trust in the economy,” says Réseau Capital CEO, Jack Chadirdjian. “The data from 2016 clearly shows that investors are interested in Québec companies.”
Over half of Québec investments ($501M across 90 deals) were disbursed to companies in the information and communications technology (ICT) sector. ICT was followed by life sciences, recording 38 investments totaling $313M.
On the private equity side, $3.8B was invested in buyouts and development capital (344 transactions). This represents 28 per cent of the year’s Canadian development capital. Nearly a third of the province’s investments, or $1.1B, went to clean technology companies. The major acquisition of Services Matrec Inc. for $800M was the largest deal in this sector.
Twelve mega deals exceeding $50M – totalling $2.3B – accounted for 61 per cent of all development capital investment in Quebec in 2016.
The largest exits include the sale of CGI Group Inc. shares, held by the Caisse de dépôt et placement du Québec, for $400M, and the sale of Fibre Noire Internet Inc. to Québecor by Novacap Investments Inc. for $125M.
“Data for 2016 confirms Québec is home to some of Canada’s most innovative technology companies, and investors are clearly taking note,” adds Chadirdjian. “This is a particularly exciting time for Québec’s private capital ecosystem.”
Province records a remarkable $1B in VC investments in 2016
VENTURE CAPITAL & PRIVATE EQUITY QUÉBEC MARKET OVERVIEW // 2016 | 4
VC & PE ACTIVITY // 2016
508 dealstotal #
344deals
164deals
$4.8btotalinvested
$3.8b
$1b
Venture Capital
Private Equity
Private Equity
Venture Capital
VENTURE CAPITAL & PRIVATE EQUITY QUÉBEC MARKET OVERVIEW // 2016 | 5
Laurentides
Outaouais
Nord-du-Québec /Abitibi-Témiscamingue
Laval
187
19
121
72
Montréal
102120
Montérégie
4616
Lanaudière
83
Mauricie
8
Estrie
173
Centre-du-Québec
161
Québec
3210Chaudière-Appalaches
13
Saguenay-Lac-St-Jean /Côte-Nord
331 Bas-Saint-Laurent
7
Gaspésie/Îles-de-la-Madeleine
6
# VC & PE DEALS BY ADMINISTRATIVE CENTRE // 2016
montréal
222 DEALSmost active region
total #
Private Equity
Venture Capital
VENTURE CAPITAL & PRIVATE EQUITY QUÉBEC MARKET OVERVIEW // 2016 | 6
VENTURE CAPITAL QUÉBEC MARKET OVERVIEW
// 2016NOTE: THIS IS THE FIRST YEAR THAT THE RÉSEAU CAPITAL IS PARTNERING WITH CVCA
TO PRODUCE VC AND PE STATISTICS FOR QUÉBEC. THUS, DATA COMPARISONS AGAINST PREVIOUS YEARS MAY NOT BE CONSISTENT WITH RÉSEAU CAPITAL’S HISTORICAL REPORTS.
VENTURE CAPITAL & PRIVATE EQUITY QUÉBEC MARKET OVERVIEW // 2016 | 7
QUÉBEC VENTURE CAPITAL HIGHLIGHTS // 2016
Key Findings:
Soaring to $1B, 2016 VC investment in Québec reached its highest level since CVCA started collecting data in 2013.
Québec captured a 31 per cent share (164) of all Canadian VC deals (530) and was a close second to Ontario.
There were five $50M+ deals totaling $429M, with the DalCor Pharmaceuticals $128M series B round in the top spot.
Half the $1B went to ICT (over 90 deals), followed by $313M in life sciences (over 38 deals), and $67M in agribusiness (over 12 deals).
VENTURE CAPITAL & PRIVATE EQUITY QUÉBEC MARKET OVERVIEW // 2016 | 8
164
200
71 226
29$431M
$68M
$90M $1b
$1.5bOntario
BCAlberta
ManitobaQuébec
Nova Scotia$64M
New Brunswick
Newfoundland& Labrador
$32M
$7M
$25MSaskatchewan
11
4
22
1Prince
Edward Island
$0.3M
$3.2btotal530 dealstotal #
VENTURE CAPITAL HEAT MAP // 2016
VENTURE CAPITAL & PRIVATE EQUITY QUÉBEC MARKET OVERVIEW // 2016 | 9
0
10
20
30
40
50
60
70
80
$0
$50
$100
$150
$200
$250
$300
$350
$400
$450
Q2Q1Q4Q3Q2Q1Q4Q3Q2Q1Q4Q3Q2Q1 Q3
$13
4
$8
5
$6
6 $30
$72
$16
8
$73
$6
1
$19
2
$22
7
$21
7
$13
6
$37
6
15
30
2118
28
27
34
22
3839
62
3329
55
$23
49
$26
5
Q4
$25
1
31
QUARTER-OVER-QUARTER VC INVESTMENT IN QUÉBEC
TOTAL:84 DEALS
$308M
TOTAL:111 DEALS
$344M
TOTAL:172 DEALS
$698M
TOTAL:164 DEALS
$1B
$ Millions Invested
# Deals
2013 2014 2015 2016
NOTE: THIS IS THE FIRST YEAR THAT THE RÉSEAU CAPITAL IS PARTNERING WITH CVCA TO PRODUCE VC AND PE STATISTICS FOR QUÉBEC. THUS, DATA COMPARISONS AGAINST PREVIOUS YEARS MAY NOT BE CONSISTENT WITH RÉSEAU CAPITAL’S HISTORICAL REPORTS.
VENTURE CAPITAL & PRIVATE EQUITY QUÉBEC MARKET OVERVIEW // 2016 | 10
Total Deals $ Millions
< $100K
$100 - $500K
$500K - $1M
$1M - $5M
$5M - $20M
$20M - $50M
$50M +
18
36
25
48
26
6
5
$1
$11
$19
$129
$249
$190
$429
VC ACTIVITY BY DEAL SIZE // 2016
propel 2016 vc investmentmega deals ($50M+)
VENTURE CAPITAL & PRIVATE EQUITY QUÉBEC MARKET OVERVIEW // 2016 | 11
ICT Life Sciences CleanTech Agri-Business Others
0
10
20
30
40
50
60
70
80
100
90
$0
$60
$120
$180
$240
$300
$360
$420
$480
$540
$600
2016201520142013 20142013 201320162015 20152014 201420132016 20162015 201520142013 2016
$11
9
$38
$18
8
$52
$31
8
$50
1
$31
3
$6
7
$8
6
$28
8
$48
$22
$29
$33
$6
1
$97
$6
2
$20
$30
$7
15
28
11111210
75
9
16
10
6
38
32
1911
90
86
64
51
VC SECTOR BREAKDOWN // 2013-2016 $ Millions Invested
# Deals
NOTE: THIS IS THE FIRST YEAR THAT THE RÉSEAU CAPITAL IS PARTNERING WITH CVCA TO PRODUCE VC AND PE STATISTICS FOR QUÉBEC. THUS, DATA COMPARISONS AGAINST
PREVIOUS YEARS MAY NOT BE CONSISTENT WITH RÉSEAU CAPITAL’S HISTORICAL REPORTS.
VENTURE CAPITAL & PRIVATE EQUITY QUÉBEC MARKET OVERVIEW // 2016 | 12
VC STAGE BREAKDOWN // 2013-2016
Seed Early Stage Later Stage Other
0
10
20
30
40
50
60
70
80
100
90
$0
$60
$120
$180
$240
$300
$360
$420
$480
$540
$600
2016201520142013 2016201520142013 2016201520142013 2016201520142013
$16
$10
8
$18
5
$41
$17
3
$12
9
$28
$35
8
$29
6
$39
$40
7
$58
3
29
36
47
35 31
48
73
97
22 27
49
32
2 04
0
$16
$ Millions Invested
# Deals
NOTE: THIS IS THE FIRST YEAR THAT THE RÉSEAU CAPITAL IS PARTNERING WITH CVCA TO PRODUCE VC AND PE STATISTICS FOR QUÉBEC. THUS, DATA COMPARISONS AGAINST
PREVIOUS YEARS MAY NOT BE CONSISTENT WITH RÉSEAU CAPITAL’S HISTORICAL REPORTS.
VENTURE CAPITAL & PRIVATE EQUITY QUÉBEC MARKET OVERVIEW // 2016 | 13
TOP 10 QUÉBEC VC DEALS // 2016
COMPANY NAME ADMIN. CENTRE SECTOR DISCLOSED INVESTORS $ MIL.
DALCOR PHARMACEUTICALS INC. MONTRÉAL LIFE SCIENCES CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC (CDPQ), CTI PARTNERS, FONDS DE SOLIDARITÉ FTQ, CDN PRIVATE INVESTORS $128
HOPPER INC. MONTRÉAL ICTACCOMPLICE, LLC, BDC CAPITAL INC., BRIGHTSPARK VENTURES, CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC (CDPQ), INVESTISSEMENT QUÉBEC, OMERS VENTURES MANAGEMENT INC.
$82
BLOCKSTREAM CORPORATION MONTRÉAL ICTAME CLOUD VENTURES, LLC, AXA STRATEGIC VENTURES, BLOCKCHAIN CAPITAL, LLC, DIGITAL GARAGE, INC, FUTURE/PERFECT VENTURES, HORIZONS VENTURES LIMITED, KHOSLA VENTURES, MV ADVISERS LLP, REAL VENTURES, SEVEN SEAS PARTNERS
$76
BREATHER PRODUCTS INC. MONTRÉAL ICT MENLO VENTURES, REAL VENTURES, RRE VENTURES, SLOW VENTURES, VALAR VENTURES MANAGEMENT LLC $53
MILESTONE PHARMACEUTIQUES INC. MONTRÉAL LIFE SCIENCES FONDS DE SOLIDARITÉ FTQ $30
UNDISCLOSED COMPANY MONTRÉAL ICT UNDISCLOSED INVESTORS UNDISCLOSED
UNDISCLOSED COMPANY QUÉBEC OTHERS UNDISCLOSED INVESTORS UNDISCLOSED
UNDISCLOSED COMPANY MONTÉRÉGIE LIFE SCIENCES UNDISCLOSED INVESTORS UNDISCLOSED
UNDISCLOSED COMPANY MONTRÉAL AGRIBUSINESS UNDISCLOSED INVESTORS UNDISCLOSED
UNDISCLOSED COMPANY MONTÉRÉGIE OTHERS UNDISCLOSED INVESTORS UNDISCLOSED
VENTURE CAPITAL & PRIVATE EQUITY QUÉBEC MARKET OVERVIEW // 2016 | 14
TOP VC EXITS // 2016
all are deemed confidential by investors
5 exits in 2016
VENTURE CAPITAL & PRIVATE EQUITY QUÉBEC MARKET OVERVIEW // 2016 | 15
MOST ACTIVE FIRMS IN QUÉBEC// 2016
* TOTAL DEAL VALUES – INCLUDES ALL PARTICIPATING INVESTORS
$232
$191
$70
$150
$259
$98
$218
$14
$27
$61
Total Deals $ Millions*
Real Ventures
Capital régional et coopératif Desjardins
Fonds de solidarité FTQ
BDC Capital Inc.
Fondaction CSN
Cycle Capital Management (CCM) Inc.
Investissement Québec
iNovia Capital Inc.
Caisse de dépôt et placement du Québec (CDPQ)
34
33
27
24
19
19
15
6
5
Réseau Anges Québec
Anges Québec Capital
41
12
$307
Real Venturesmost active private
québec FIRM 34 DEALS
VENTURE CAPITAL & PRIVATE EQUITY QUÉBEC MARKET OVERVIEW // 2016 | 16
PRIVATE EQUITY QUÉBEC MARKET OVERVIEW
// 2016NOTE: THIS IS THE FIRST YEAR THAT THE RÉSEAU CAPITAL IS PARTNERING WITH CVCA
TO PRODUCE VC AND PE STATISTICS FOR QUÉBEC. THUS, DATA COMPARISONS AGAINST PREVIOUS YEARS MAY NOT BE CONSISTENT WITH RÉSEAU CAPITAL’S HISTORICAL REPORTS.
VENTURE CAPITAL & PRIVATE EQUITY QUÉBEC MARKET OVERVIEW // 2016 | 17
PRIVATE EQUITY HIGHLIGHTS // 2016
Key Findings:
$3.8B was invested in over 344 Québec deals in 2016, a 28 per cent share of all Canadian PE dollars.
Twelve $50M+ mega deals accounted $2.3B or 61 per cent of Québec’s 2016 total, including the $800M acquisition of Services Matrec Inc.
$1B, representing almost a third of all dollars invested, went to clean tech companies.
The largest exit in the province was the $400M sale of CGI Group Inc., followed by the $125M sale of Fibre Noire Internet Inc. to Quebecor Inc.
VENTURE CAPITAL & PRIVATE EQUITY QUÉBEC MARKET OVERVIEW // 2016 | 18
3445039
8 4
5$3.3B
$366m
$3.8B$5B
Ontario
BCAlberta
Saskatchewan
Québec
$1b
$30mManitoba
$202MNova Scotia
New Brunswick
85 1
$13.7btotal536 dealstotal #
PRIVATE EQUITY HEAT MAP // 2016
VENTURE CAPITAL & PRIVATE EQUITY QUÉBEC MARKET OVERVIEW // 2016 | 19
$0
$500
$1,000
$1,500
$2,000
$2,500
0
20
40
60
80
100
Q2Q1Q4Q3Q2Q1Q4Q3Q2Q1Q4Q3Q2Q1
$42
$1,
457
$8
4 $15
4
$1,
141
$1,
917
$1,
843
$9
01
$1,
729 $
267
$2,
555
$9
05
$1,
231
$9
13
12
24
8
21 20 25
28
2530
49
4451
8691
Q3
85
$6
05
$1,
040
82
Q4
TOTAL:65 DEALS
$1.7B
TOTAL:98 DEALS
$5.8B
TOTAL:174 DEALS
$5.5B
TOTAL:344 DEALS
$3.8B
$ Millions Invested
# Deals
2013 2014 2015 2016
QUARTER-OVER-QUARTER PE INVESTMENT IN QUÉBEC
NOTE: THIS IS THE FIRST YEAR THAT THE RÉSEAU CAPITAL IS PARTNERING WITH CVCA TO PRODUCE VC AND PE STATISTICS FOR QUÉBEC. THUS, DATA COMPARISONS AGAINST PREVIOUS YEARS MAY NOT BE CONSISTENT WITH RÉSEAU CAPITAL’S HISTORICAL REPORTS.
VENTURE CAPITAL & PRIVATE EQUITY QUÉBEC MARKET OVERVIEW // 2016 | 20
PE ACTIVITY BY DEAL SIZE // 2016Overall Downward
Pressure Sustained by
mid-market deal activity
Total Deals $ Millions
< $100K
$100 - $500K
$500K - $1M
$1M - $5M
$5M - $20M
$20M - $50M
$50M +
33
83
60
95
39
22
12
$1
$27
$46
$259
$379
$774
$2,302
VENTURE CAPITAL & PRIVATE EQUITY QUÉBEC MARKET OVERVIEW // 2016 | 21
PE SECTOR BREAKDOWN // 2016
12
89
12
33
45
37
22
39
26
7
18
2
2
# Deals $ Millions
CleanTech
Industrial & Manufacturing
Others
ICT
Mining & Resources
Agri-Forestry
Automotive & Transportation
Consumer & Retail
Business Products & Services
Oil & Gas, Power
Life Sciences
Financial
Real Estate
$1,050
$706
$429
$340
$318
$312
$185
$173
$147
$63
$45
$19
$3
most active sector $1.1bcleantech
VENTURE CAPITAL & PRIVATE EQUITY QUÉBEC MARKET OVERVIEW // 2016 | 22
TOP 10 QUÉBEC PE DEALS // 2016
COMPANY NAME CENTRE DISCLOSED INVESTORS INVOLVED IN TRANSACTION SECTOR $ MIL.
SERVICES MATREC INC. MONTÉRÉGIE GFL ENVIRONMENTAL INC., HAWTHORN EQUITY PARTNERS, HIGHBRIDGE PRINCIPAL STRATEGIES, LLC, MACQUARIE INFRASTRUCTURE AND REAL ASSETS (MIRA) CLEANTECH $800
MCINNIS CEMENT INC. MONTÉRÉGIE BLACKROCK INC., CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC (CDPQ), CDN PRIVATE INVESTORS
INDUSTRIAL & MANUFACTURING $282
TATA STEEL MINERALS CANADA LTD. MONTRÉAL INVESTISSEMENT QUÉBEC MINING & RESOURCES $125
TRIOTECH AMUSEMENT INC. LANAUDIÈRE CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC (CDPQ), FONDS DE SOLIDARITÉ FTQ, UNDISCLOSED INSTITUTIONAL INVESTOR CONSUMER & RETAIL $80
PLACEMENTS LE BELVEDÈRE INC. MAURICIE CAPITAL RÉGIONAL ET COOPÉRATIF DESJARDINS (CRCD), CDN PRIVATE INVESTORS BUSINESS PRODUCTS & SERVICES $62
GARDA WORLD SECURITY GROUP MONTRÉAL APAXPARTNERS LLP, RHONE GROUP LLC, UNDISCLOSED INSTITUTIONAL INVESTOR OTHERS UNDISCLOSED
UNDISCLOSED COMPANY MONTRÉAL UNDISCLOSED INVESTORS CLEANTECH UNDISCLOSED
UNDISCLOSED COMPANY SAGUENAY-LAC-ST-JEAN/ CÔTE-NORD UNDISCLOSED INVESTORS ICT UNDISCLOSED
UNDISCLOSED COMPANY CENTRE-DU-QUÉBEC UNDISCLOSED INVESTORS INDUSTRIAL & MANUFACTURING UNDISCLOSED
VERDANT ENVIRONMENTAL TECHNOLOGIES MONTRÉAL FULCRUM CAPITAL PARTNERS INC., UNDISCLOSED INSTITUTIONAL INVESTOR ICT UNDISCLOSED
VENTURE CAPITAL & PRIVATE EQUITY QUÉBEC MARKET OVERVIEW // 2016 | 23
TOP DISCLOSED QUÉBEC PE EXITS // 2016
#1$400M NA (Sale of shares)
buyer
Company seller
CGI Group Inc. Caisse de dépôt et placement du Québec
(CDPQ)
#2$125M
Québecor Inc.
buyer
Company sellerFibre Noire
Internet Inc.Novacap
Investments Inc.
#3$31M
Not Disclosed
buyer
Company sellerCanadian
Malartic GPCaisse de dépôt et
placement du Québec (CDPQ)
VENTURE CAPITAL & PRIVATE EQUITY QUÉBEC MARKET OVERVIEW // 2016 | 24
MOST ACTIVE PE INVESTORS IN QUÉBEC // 2016
* TOTAL DEAL VALUES – INCLUDES ALL PARTICIPATING INVESTORS
91
87
69
52
30
8
8
7
2
2
# Deals $ Millions*
Capital régional et coopératif Desjardins
Fonds régionaux de solidarité FTQ
Investissement Québec
Fonds de solidarité FTQ
Caisse de dépôt et placement du Québec (CDPQ)
Fondaction CSN
XPND Capital
BDC Capital Inc.
SIDEX Limited Partnership
Persistence Capital Partners
$661
$342
$452
$600
$912
$147
$41
$5
$8
$5
most active PE investor
91 DEALSCapital Régional et
Coopératif Desjardins (CRCD)
VENTURE CAPITAL & PRIVATE EQUITY QUÉBEC MARKET OVERVIEW // 2016 | 25
CVCA METHODOLOGY // VENTURE CAPITAL
Venture Capital Data:
Verified completed equity or quasi-equity venture capital deals only (non-equity or project-based government funding, pharmaceutical development deals, senior debt, venture capital-backed acquisitions, and angel financing are not included)
VC DEVELOPMENT STAGES
SEED STAGE COMPANY HAS A CONCEPT OR PRODUCT UNDER DEVELOPMENT, BUT IS PROBABLY NOT FULLY OPERATIONAL.
EARLY STAGE COMPANY HAS A PRODUCT OR SERVICE IN TESTING OR PILOT PRODUCTION. IN SOME CASES, THE PRODUCT MAY BE COMMERCIALLY AVAILABLE.
LATER STAGE PRODUCT OR SERVICE IN PRODUCTION AND COMMERCIALLY AVAILABLE. COMPANY IS GENERATING ON-GOING REVENUE, BUT NOT NECESSARILY, PROFITABLE.
VC SECTORS
ICT COMPUTER HARDWARE AND SOFTWARE AND SERVICES, INTERNET SOFTWARE OR SERVICES, ECOMMERCE, ELECTRONIC & SEMICONDUCTOR, MOBILE AND TELECOM TECHNOLOGIES AND SERVICES
LIFE SCIENCES BIOTECH, MEDICAL DEVICES, PHARMACEUTICALS, EHEALTH, HEALTHCARE PRODUCTS AND SERVICES, AND OTHER MEDICAL RELATED PRODUCTS AND SERVICES
CLEANTECH ENERGY AND FUEL TECHNOLOGIES, EFFICIENCY AND CONSERVATION, RENEWAL ENERGY, ENVIRONMENTAL TECHNOLOGIES AND OTHER ENERGY AND ENVIRONMENTAL PRODUCTS AND SERVICES
AGRIBUSINESS TRADITIONAL AND ADVANCED AGRICULTURAL TECHNOLOGIES AND SERVICES
QUÉBEC ADMINISTRATIVE REGIONS
NORD-DU-QUÉBEC / ABITIBI-TÉMISCAMINGUE
OUTAOUAIS
LAURENTIDES
LAVAL
MONTRÉAL
MONTÉRÉGIE
LANAUDIÈRE
MAURICIE
ESTRIE
CENTRE-DU-QUÉBEC
QUÉBEC
CHAUDIÈRE-APPALACHES
SAGUENAY-LAC-ST-JEAN/ CÔTE-NORD
BAS-SAINT-LAURENT
GASPÉSIE/ÎLES-DE-LA-MADELEINE
VENTURE CAPITAL & PRIVATE EQUITY QUÉBEC MARKET OVERVIEW // 2016 | 26
CVCA METHODOLOGY // PRIVATE EQUITY
Private Equity Data:
Dataset includes only completed private equity deals (announced but yet to be completed deals are not included)
PE DEAL TYPE
BUYOUT INVESTMENT FOR THE CONTROL OF A PORTFOLIO COMPANY, INCLUDING PLATFORM CREATION, SECONDARY BUYOUT
GROWTH SIGNIFICANT MINORITY INVESTMENT INTO A PORTFOLIO COMPANY, THROUGH NEW CAPITAL INFUSION AND RECAPITALIZATION
ADD-ON CORPORATE ACQUISITIONS BY MAJORITY CONTROLLED PE BACKED PORTFOLIO COMPANIES
DEBT DEBT INVESTMENT INTO PORTFOLIO COMPANIES
INFRASTRUCTURE INVESTMENTS INTO DEVELOPMENT AND MANAGEMENT OF INFRASTRUCTURE ASSETS BUT PE DOES NOT OWN THE UNDERLYING ASSETS
continued
QUÉBEC ADMINISTRATIVE REGIONS
NORD-DU-QUÉBEC / ABITIBI-TÉMISCAMINGUE
OUTAOUAIS
LAURENTIDES
LAVAL
MONTRÉAL
MONTÉRÉGIE
LANAUDIÈRE
MAURICIE
ESTRIE
CENTRE-DU-QUÉBEC
QUÉBEC
CHAUDIÈRE-APPALACHES
SAGUENAY-LAC-ST-JEAN/ CÔTE-NORD
BAS-SAINT-LAURENT
GASPÉSIE/ÎLES-DE-LA-MADELEINE
VENTURE CAPITAL & PRIVATE EQUITY QUÉBEC MARKET OVERVIEW // 2016 | 27
CVCA METHODOLOGY // PRIVATE EQUITY
PE SECTORS
AGRI-FORESTRY AGRICULTURE, FOODS AND FORESTRY
AUTOMOTIVE & TRANSPORTATION TRANSPORTATION, LOGISTICS AND RELATED SERVICES
BUSINESS PRODUCTS & SERVICES BUSINESS PRODUCTS AND SERVICES
CLEANTECH ENERGY AND FUEL TECHNOLOGIES, EFFICIENCY AND CONSERVATION, RENEWAL ENERGY, ENVIRONMENTAL TECHNOLOGIES AND OTHER ENERGY AND ENVIRONMENTAL PRODUCTS AND SERVICES
CONSUMER & RETAIL CONSUMER PRODUCTS AND SERVICES, BRICK AND MORTAR RETAIL
FINANCIAL FINANCIAL SERVICES
ICT COMPUTER HARDWARE/SOFTWARE & SERVICES, INTERNET SOFTWARE & SERVICES, ECOMMERCE, ELECTRONIC & SEMICONDUCTOR, MOBILE & TELECOM AND SERVICES
INDUSTRIAL & MANUFACTURING EQUIPMENT AND MATERIAL MANUFACTURING
LIFE SCIENCES BIOTECH, MEDICAL DEVICES, PHARMACEUTICALS, EHEALTH, HEALTHCARE PRODUCTS AND SERVICES, AND OTHER MEDICAL RELATED PRODUCTS AND SERVICES
MINING & RESOURCES NON OIL AND GAS NATURAL RESOURCES
OIL & GAS, POWER OIL & GAS, POWER AND UTILITIES
REAL ESTATE PROPERTY DEVELOPMENT AND MANAGEMENT
continued
VENTURE CAPITAL & PRIVATE EQUITY QUÉBEC MARKET OVERVIEW // 2016 | 28
CVCA/RÉSEAU CAPITAL ABOUT & CONTACT
AuthorsDarrell oversees all data related to Canadian private capital investments, exit and fundraising activities for the CVCA. Darrell has held senior positions at several global organizations including the Toronto Stock Exchange, Institutional Limited Partners Association, Thomson Reuters, Glaxosmithkline and the Interac Association. In between these, he also started his own successful management consulting company. He has worked in New York, London and Shanghai, but Toronto remains his favourite working city. He brings to the CVCA a passion for telling compelling stories with data. Darrell is currently on the board of a non-profit social housing in Peel, a member of Volunteer Toronto as well as an active volunteer with Woodgreen Community Services. He holds a BA in Philosophy/History from the University of Western Ontario and an MBA from the Rotman School of Management.
dpinto@cvca.ca | 416-487-0519 ext. 208
Amy executes research on venture capital and private equity deals to oversee the Canadian private capital markets. Amy is responsible for entering the data, including investment and exit deals and fundraising activities, and is keen on providing the most accurate and up-to-date information through the CVCA’s Infobase. Amy holds a Bachelor of Mathematics, Co-op with concentrations in finance and accounting from University of Waterloo.
akim@cvca.ca | 416-487-0519 ext. 202
DARRELL PINTOResearch Director
AMY KIMResearch Associate
About CVCAThe Canadian Venture Capital and Private Equity Association is the voice of Canada’s venture capital and private equity industry. We are focused on improving the private capital ecosystem by broadening industry awareness and providing market research, networking, and professional development opportunities.
We also advocate on behalf of the industry to ensure sound public policy that encourages a favourable investment environment. The CVCA works alongside its members, who represent the vast majority of private capital firms in Canada, to improve the industry and drive innovation and growth.
For more information, visit cvca.ca
@CVCACanada /CVCACanada
CVCA - Canadian Venture Capital and Private Equity Association
372 Bay St., Suite 1201 Toronto, ON M5H 2W9
About Réseau CapitalRéseau Capital, the Québec Venture Capital and Private Equity Association, is the only private equity association that brings together all stakeholders involved in the Québec investment chain. The mission of Réseau Capital is to contribute to the development and efficient operation of the private equity industry, which plays a major role in the development and financing of businesses in Québec.
Founded in 1989, Réseau Capital represents private equity, tax-advantaged and public investment companies as well as banks, accounting and law firms, along with many professionals working in the field.
To arrange for an interview, please contact:Catherine Berbery | 514-880-2372 | catherine@reseaucapital.com
For more information, visit reseaucapital.com
@reseaucapital Réseau Capital
Espace CDPQ – 3 Place Ville-Marie, suite 12350, Level L, Montréal, QC H3B 0E7
To obtain estimates for additional custom InfoBase data reports please contact dpinto@cvca.ca
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