Private equity investors poured a record $30.9 billion into Canadian companies in the first six months of the year, up 258 per cent from the same period last year and more than the $27.2 billion invested in all of 2024, according to the Canadian Venture Capital & Private Equity Association. Companies raised just $2.9 billion in venture capital, down 26 per cent from the first half of 2024, and the lowest amount for the period since 2020. (The Logic)

Talking point: VC activity was up slightly in the second quarter of 2025 compared to the first three months of the year, but down significantly from last year’s already depressed Q2. The average deal size in the first half held steady at $11.4 million, as investors opted for fewer but bigger deals. In the private equity space, mid-market companies drove activity, with 86 per cent of deals valued under $25 million. A few megadeals, however, sent the average PE transaction to $95.8 million, up 279 per cent from the same period last year. Exit activity remained quiet for both private equity and venture-backed companies, with few mergers and acquisitions and no initial public offerings.