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Venture financing report 2026

Authors

  • Torys’ Emerging Companies and VC Group

The 2025 Canadian venture capital market was defined by a contraction in both deal volume and total capital deployed. In a difficult exit environment, secondary transactions emerged as an increasingly vital source of liquidity for investors. Despite tightened fundraising conditions across the ecosystem, AI focused startups remained a notable bright spot in a maturing Canadian market—drawing significant investor interest in their respective rounds.
 

Torys LLP - 2026 Deal Study - Venture financing report - PDF cover

Hear from prominent industry leaders on the state of play within the Canadian startup ecosystem in our feature Q&As from Rob Khazzam, Co-Founder and CEO of Float, and Jamie Greenberg, General Counsel and Corporate Secretary at Solink.

To discuss these issues, please contact the author(s).

This publication is a general discussion of certain legal and related developments and should not be relied upon as legal advice. If you require legal advice, we would be pleased to discuss the issues in this publication with you, in the context of your particular circumstances.

For permission to republish this or any other publication, contact Richard Coombs.

© 2026 by Torys LLP.

All rights reserved.
 

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