People Mentioned
Partner, Emerging and High Growth Companies, Toronto
Partner, Emerging and High Growth Companies, Calgary
Osler’s Emerging and High Growth (EHG) Companies Group is pleased to announce the release of the Osler 2024 Deal Points Report: Venture Capital Financings, a definitive resource for stakeholders in the Canadian venture capital ecosystem. This year’s report provides an in-depth analysis of preferred share financings in Canada from 2020 through to 2024, offering unparalleled insight into market trends and deal structures.
In the report, the EHG team has analyzed 646 preferred share financings, representing a total transaction value exceeding US$11.4 billion. For financings completed in 2024, the report covers 160 preferred share financings, with a combined value of approximately US$3.73 billion.
“On each deal, Osler tracks a broad range of data points, allowing us to keep clients up to date on market trends, as they happen,” says Ryan Unruch, Osler EHG partner and co-author of the Deal Points Report. “There’s nothing else that makes this kind of data available for Canadian companies. It’s our way of giving back to the ecosystem, allowing all market participants to gain a view into what’s actually happening on the ground. Every year we try and provide access to new data points that would be helpful to the market. For example, this year, we are publishing data on pre-money valuations, post-money valuations, round dilution and option pool sizes.”
The 2024 report focuses on preferred share financings, covering Seed financings through Series D and beyond. Osler acted as company counsel on approximately 70% of the deals featured, underscoring the firm’s leading role in the Canadian venture capital landscape.
A defining feature of 2024 was the prevalence of “mega-deals” — with round sizes in excess of US$50 million. In 2024, the report tracked 13 such deals, accounting for roughly 65% of the year’s total transaction value. Notable companies involved in these landmark financings included Clio, Cohere, Waabi, Nesto, Neo Financial, and Aspect Biosystems. We invite you to view our video podcasts showcasing the success stories of some of these clients, produced as part of the report.
What sets the Osler Deal Points Report apart is the uniqueness and depth of its data. The report draws on Osler’s direct involvement in the market, encompassing deals where the firm represented either the investor or the issuing company. This approach ensures a comprehensive and accurate reflection of the Canadian emerging and high-growth company ecosystem, far beyond what is available from public data sources.
Osler is proud to provide this report as a valuable tool for investors, founders, and all ecosystem stakeholders, reaffirming its commitment to supporting the growth and success of Canada’s innovation economy.
People Mentioned
Partner, Emerging and High Growth Companies, Toronto
Partner, Emerging and High Growth Companies, Calgary
