The Canadian Venture Capital and Private Equity Association is the only body that publishes an annual, deal-level count of PE and VC activity in Canada. What it tracks well is deployment; fund-level fundraising totals are not published in a citable form.
Headline figure
$65.5B
Combined private equity and venture capital deployed in Canada in 2025, per CVCA's Year-End 2025 report: $57.5 billion across 592 private equity deals, plus $8.0 billion across 571 venture capital deals (down 12% year over year on deal count). A further $1.40 billion was deployed across 69 venture debt deals.
What the data says
This is a genuine gap in Canadian private capital data, not an oversight here: CVCA's quarterly and annual market overviews track capital going into portfolio companies, which is a deal-by-deal, verifiable count. Capital committed by LPs into a fund at first or final close is a private, GP-disclosed number with no equivalent aggregation. Treat any "Canadian PE fundraising hit $X billion in 2025" claim with the same scepticism this dataset applies to itself — ask what specifically was counted.
CVCA is the body best positioned to publish a Canadian norm for management fee, carried interest or preferred return, and it does not: its model legal documents describe mechanics (fee-base stepdown, European versus American waterfall, catch-up) without stating a rate. Any specific percentage used to illustrate fund economics in Canada is a drafting choice for the illustration, not a market benchmark.
CVCA’s H1 2026 report gives a fresher half-year picture that runs ahead of the full-year 2025 figures above on the venture side and behind on private equity. Venture capital: $2.69 billion across 250 deals in H1 2026, up 17% in dollars from $2.30 billion in H1 2025 despite a deal count down 8.8% from 274 — CVCA calls it “the first increase in first-half capital since 2021.” Private equity ran the other direction: $12.7 billion across 252 deals, with the deal count down 24% from 332 in H1 2025, and Q2 2026 recording the lowest quarterly transaction count on record at 106. Exit activity split unevenly too — PE exits totalled $10.8 billion across 33 transactions, including the $4.0 billion Apotex IPO, against $716 million across 18 VC exits with no IPOs at all in the period.
See how many Canadian businesses change hands yearly for how this institutional deployment figure compares to the much larger, uncounted broader market, and merger notifications and Competition Bureau outcomes for how many of these deals are large enough to trigger a notification.
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