Technology

2024 Canadian VC, 3rd best in history, Q4 crash points to uncertain 2025

Published

2 years ago

March 5, 2025

All dollar ($) figures in Canadian dollars unless otherwise noted.

TORONTO, March 5, 2025 /CNW/ – Canadian venture capital (VC) in 2024 totalled $8.89 billion* from 739 financings.

Summary

2024 disbursement $8.89 billion is the third best in Canadian VC history, behind 2021’s $14.2 billion and 2022’s $9.71 billion.Q3 2024 disbursement $3.57 billion is the second best behind Q2 2021’s $4.90 billion.Q4 2024 disbursement $1.19 billion is the second worst quarterly result since 2021 just ahead of Q3 2023’s $1.17 billion.

CPE Analytics tracks capital that flows directly into the companies and excludes known secondary portions of transaction rounds, in which no money went to the companies to help them grow and scale. CPE Analytics provides Canada’s only reliable benchmark on Canadian VC investment activities. With the inclusion of secondaries, substantially large sums in recent years, other providers’ data are of little use and relevance to truly and accurately measure and benchmark the state of Canadian VC ecosystem.

Key Observations

I. USA, South Korea China, UK top four funding sources
USA, South Korea, China and UK are top four funding sources for Canadian companies, together accounting for 62% of capital flowing into Canadian companies.

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* * * CPE Analytics’ dataset is distinguished by a rigorous application of proper methodological practice which, for instance, does not include M&A transactions completed by VC-backed portfolio companies or other secondaries transactions. For example, Clio itself did not receive US $900 million of the total funding. A substantial of the funding went to company’s management and employees, and to existing investors.

II. Asian investors led by South Korea, China, Japan increased their shares of funding sources
Investors from Asia invested $842 million or 9% in Canadian companies. Top five Asian investor were from South Korea, China, Japan, Taiwan and Hong Kong. There was no investment from Indian investors. Asian investors’ share could be higher if some of their investments made from the offshore locations had been disclosed. In comparison, Asian investors invested $343 million for 5% share of total Canadian disbursements in 2023.

III. Governments continue to out-invest Canadian private VCs
Canadian governments invested $941 million, our-investing Canadian private VC by $235 million. In comparison, governments and private VC invested $847 million and $496 million in 2023 respectively, for a differential of almost $351 million.

IV. Q4 crash points to an uncertain 2025
Canadian companies attracted $1.19 billion in Q4 2024, a precipitous fall of 67% from Q3 2024. Q3 being the second best quarterly Canadian results has made the matter even worse. Not considering of Q3, 2024, Q4 2024 reported the second lowest quarterly results since 2021, barely bettering Q3 2023 by $18 million. There is still plenty time to fully account the quarter, Q1, 2025 has yet to show any sight of turning round.

V. VC fund fundraising continues to lag
58 funds raised $2.64 billion, ahead the historic low of $1.72 billion in 2023, still far behind fundraising in 2022 in which 48 funds raised $4.74 billion.

” The 2024 data starkly reveal the dependence of Canada’s innovation industries on foreign VC investment, particularly that originating from the US which alone accounted for 53% of all VC investment dollars in Canada. At a time of hyper-nationalism in the US federal administration today and with fears of economic warfare across multiple fronts surging in Canada and elsewhere this over-reliance on US VC constitutes a strategic weakness of Canada in the competition for scarce investment dollars. The US federal government’s focus on securing American technological leadership will likely result in it actively promoting US VC investment into domestic firms while looking askance at foreign ventures. As a result, Canada will need to prepare for a material decline in US VC investment over the short to medium term and which will need to be met with increased VC supply from Canadian sources including private, corporate and government,” commented Richard Rémillard, President of Rémillard Consulting Group (RCG).

” The 2024 data show the increasing proportion of investment dollars going into ICT, driven largely by AI. As Marc Andreessen famously said, “Software is eating the world”, compared to 2017, the data starkly reveal how Biotech and Cleantech have reversed positions as Biotech has plummeted as a proportion of VC investments while Cleantech has reached new heights. Fintech investments, as a proportion overall, continue to stagnate,” added Rémillard,

2024 Highlights

Top 10 municipal cities
The top 10 cities collectively raised $8.13 billion, accounting for 91% of the total disbursements.

Municipal City

Province

# Fin’s

$ Millions

Toronto

Ontario

201

3,345

Montreal

Quebec

1,159

Vancouver

British Colombia

118

1080

Burnaby

British Columbia

906

Calgary

Alberta

765

Quebec City

Quebec

286

Kitchener

Ontario

197

Mississauga

Ontario

159

Ottawa

Ontario

128

Richmond

British Columbia

102

556

8,128

Top 10 foreign funding sources
Investors from the top 10 countries accounted 66% of total capital flow into Canadian companies.

Country

$ Millions

United States

4,693

South Korea

454

China

168

United Kingdom

164

Japan

123

Switzerland

100

Netherlands

Sweden

Germany

France

Top 10 Investor types
Top 10 types of investors accounted of 91% of the total disbursements into Canadian companies.

Investor Type

$ Millions

Private VC – US

2,091

Mutual/Hedge Fund – US

1,327

Corporate – Foreign

962

Government – CDN

941

Corporate – US

836

Private VC – CDN

706

Private VC – Foreign

352

Corporate – CDN

301

Private Investors – CDN

261

Family Office – CDN

249

Top 10 VC law firms
48 law firms were tracked or reported to participate in Canadian VC financings in the first nine months of 2024.

Law Firm

# Companies

# Financings

$ Millions

Osler, Hoskin & Harcourt LLP

2,201

Fasken Martineau DuMoulin LLP

450

LaBarge Weinstein LLP

196

Blake, Cassels & Graydon LLP

475

Dentons Canada LLP

McCarthy Tétrault LLP

107

Mintz LLP

McInnes Cooper

Borden Ladner Gervais LLP

Norton Rose Fulbright Canada LLP

Summary report
Summary report can be downloaded from financings.ca website: https://www.financings.ca/reports/

Methodology
Included

Equity and quasi-equity investments in companies directly.

Excluded

Secondary transactions (investor/shareholder exit events) in which companies received no money.Acquisition for expansions (M&As)PE transactionsFinancing by foreign headquartered/domiciled companies with Canadian subsidiaries.

Rémillard Consulting Group (RCG)
Rémillard Consulting Group (RCG) is a unique, Ottawa-based, bilingual consulting firm specializing in providing private sector, government & trade association clients with creative, research-grounded solutions to business issues and public policies involving the Canadian financial services industry. For more information: rremillard@bellnet.ca

CPE Analytics
With 108,900 financing transactions, and growing continuously and rapidly to its all Canadian Financings database, CPE Analytics is Canada’s undisputed leader in financing intelligence. We provide comprehensive, verified, unbiased and unmatched insights and intelligence on private and public financings, initial public offerings (IPOs), M&As, professional investment firm fundraising activities.

We cover all aspects of VC information, not limited to but including Canada’s only information on VC firm fundraising, VC funding sources (where all the VC came from and from which types of investors).

CPE Analytics is the data analytics division of CPE Media & Data Company. More Info: https://cpeanalytics.ca, https://financings.ca

CPE Media & Data Company
Founded by Canada’s the most experienced private capital and financing research experts, CPE Media & Data Company is Canada’s leading all financing news and intelligence provider. More information: https://cpecompany.ca/

SOURCE CPE Media & Data Company

Technology

MiniTool ShadowMaker 5.0 Introduces Cloud Sync for Google Drive and OneDrive

Published

56 minutes ago

October 23, 2026

VANCOUVER, BC, Oct. 22, 2026 /PRNewswire/ — MiniTool® Software Limited has announced the release of MiniTool ShadowMaker 5.0, the latest version of its Windows backup and file sync software. The update introduces a new Cloud Sync feature for Google Drive and OneDrive, along with enhancements to the registration and purchase experience, interface refinements, and compatibility fixes.

New Features and Improvements in MiniTool ShadowMaker 5.0

1. Cloud Sync to Google Drive and OneDrive

MiniTool ShadowMaker 5.0 introduces Cloud Sync, allowing users to synchronize files and folders from a Windows computer to Google Drive or OneDrive. Users can choose the files and folders they want to sync and select their preferred cloud storage service as the destination.

The new feature supports one-way synchronization from a local Windows PC to cloud storage, providing an additional way to save copies of important files outside of your computer. Together with MiniTool ShadowMaker’s existing local file sync function, Cloud Sync expands the available destinations for file sync.

2. Streamlined License & Plan Management

The latest update introduces an enhanced register interface that remains easily accessible even after activation. Registered users can now effortlessly review their current plan, explore upgrade options, or update their license key anytime for a smoother user experience.

These refinements are intended to improve usability when users manage their software registration and licensing.

3. Interface Refinements and Compatibility Fixes

MiniTool ShadowMaker 5.0 includes interface improvements and fixes for certain display issues. One notable fix addresses a blurry display issue that could occur on some systems equipped with AMD GPUs.

These changes focus on resolving specific issues and improving the user experience on affected systems.

4. Additional Improvements

Beyond Cloud Sync and the changes outlined above, MiniTool ShadowMaker 5.0 includes additional interface and functionality refinements. Together, these updates further improve the software’s usability while expanding its file synchronization options.

With support for Google Drive and OneDrive, MiniTool ShadowMaker 5.0 provides Windows users with another approach to manage file copies across local and cloud storage. Users who want to synchronize files to cloud storage can download the Free Edition and explore the new capabilities.

About MiniTool ShadowMaker

MiniTool ShadowMaker is a Windows backup and file sync solution designed to help users protect their operating systems and important data. It supports backing up Windows systems, disks, partitions, files, and folders to local drives, external hard drives, shared folders, and other supported locations. Users can select specific items to back up according to their needs.

For users who need to migrate data to another drive, MiniTool ShadowMaker offers a disk cloning feature. The software also supports restoring backed-up data and creating bootable media for system recovery.

By combining backup, file synchronization, disk cloning, and restore capabilities, MiniTool ShadowMaker offers Windows users a set of tools for data protection and system recovery.

About MiniTool® Software Limited

MiniTool Software Limited is a professional software company that develops computer applications. It provides software for partition management, data recovery, data backup and sync, video editing, multimedia conversion, and screen recording for home and business users. The company is committed to developing innovative, reliable, and easy-to-use software that simplifies everyday digital tasks.

View original content to download multimedia:https://www.prnewswire.com/news-releases/minitool-shadowmaker-5-0-introduces-cloud-sync-for-google-drive-and-onedrive-302916663.html

SOURCE MiniTool® Software Limited

Technology

Rocket Companies to Announce Third Quarter 2026 Results on October 29, 2026

Published

2 hours ago

October 22, 2026

DETROIT, Oct. 22, 2026 /PRNewswire/ — Rocket Companies, Inc. (NYSE: RKT) (“Rocket Companies” or “the Company”), the Detroit-based homeownership platform, today announced that the Company will issue its third quarter 2026 earnings on October 29, 2026. Leadership will host a conference call to discuss results at 4:30 p.m. ET on that date. A press release detailing the Company’s results will be issued prior to the call.

A live webcast of the event will be available on the “Events & Presentations” section of the Company’s Investor Relations website at ir.rocketcompanies.com. A replay of the webcast will be available on the Investor Relations website following the event.

About Rocket Companies

Founded in 1985, Rocket Companies (NYSE: RKT) is a Detroit-based homeownership platform including mortgage, real estate and personal finance businesses: Rocket Mortgage, Redfin, Rocket Close, Rocket Money and Rocket Loans.

With insights from more than 160 million calls with clients each year, more than 30 petabytes of data and a mission to Help Everyone Home, Rocket Companies is well positioned to be the destination for AI-fueled homeownership.

For more information, please visit the Company’s Corporate website or Investor Relations website.

View original content to download multimedia:https://www.prnewswire.com/news-releases/rocket-companies-to-announce-third-quarter-2026-results-on-october-29-2026-302917496.html

SOURCE Rocket Companies, Inc.

Technology

Lunai Bioworks Announces Receipt of Nasdaq Determination and Intention to Voluntarily Delist and Deregister

Published

2 hours ago

October 22, 2026

SACRAMENTO, Calif., Oct. 22, 2026 /PRNewswire/ — Lunai Bioworks Inc. (Nasdaq: LNAI) (the “Company”) announced that on October 21, 2026, it received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company no longer complies with Nasdaq Listing Rule 5550(b)(1), which requires minimum stockholders’ equity of $2,500,000. The Company reported a stockholders’ deficit of $(9,024,946) in its Annual Report on Form 10-K for the fiscal year ended June 30, 2026, and does not meet the alternative market value of listed securities or net income standards. Because the Company is subject to a mandatory Hearings Panel Monitor under Nasdaq Listing Rule 5815(d)(4)(B), Nasdaq staff determined to delist the Company’s securities. Trading in the Company’s common stock on Nasdaq is expected to be suspended at the opening of business on October 30, 2026.

The Company will not request a hearing. Rather than contest the staff determination, the Company’s Board of Directors approved on October 22, 2026 the voluntary withdrawal of the Company’s common stock from listing on Nasdaq under Rule 12d2-2(c) under the Securities Exchange Act of 1934, as amended. The Board took this action because of the staff determination and the Company’s financial condition, and concluded that the cost of continued listing and SEC reporting is not justified.

The Company notified Nasdaq of its intention on October 22, 2026. The Company intends to file a Form 25 with the Securities and Exchange Commission (the “SEC”) on or about November 2, 2026, and expects the delisting to become effective on or about November 12, 2026. The Company then intends to file a Form 15 to suspend its SEC reporting obligations, to the extent it is eligible to do so. The Company’s SEC reporting obligations will continue unless and until they are terminated or suspended in accordance with the SEC’s rules.

The Company does not intend to arrange for quotation of its common stock on any over-the-counter market and cannot assure that any trading market for its common stock will exist after trading on Nasdaq is suspended.

Forward-Looking Statements
This press release contains forward-looking statements, including statements regarding the expected suspension of trading, the expected timing of the Form 25 and Form 15 filings, and the expected timing of delisting and deregistration. Actual results may differ materially due to risks and uncertainties, including Nasdaq and SEC procedures and the Company’s financial condition. The Company undertakes no obligation to update these statements, except as required by law.

View original content to download multimedia:https://www.prnewswire.com/news-releases/lunai-bioworks-announces-receipt-of-nasdaq-determination-and-intention-to-voluntarily-delist-and-deregister-302917510.html

SOURCE Lunai Bioworks Inc.