Nearly 90 per cent of Canadian VC investment deals since 2014 went to companies founded exclusively by men

Nearly 90 per cent of investment deals publicly disclosed by Canadian venture capital funds over the past five years went to companies founded exclusively by men.

An analysis by The Logic of Canadian VCs with the most investment deals recorded globally over the past five years, according to the Canadian Venture Capital and Private Equity Association (CVCA), found that 103 of the 884 publicly announced investment deals went to companies with at least one woman founder or co-founder. That amounts to just 11.7 per cent of investments.

Of the 18 firms identified, just one—BDC Capital—confirmed it tracks the number of investments that go to companies founded by women.

Cycle Capital Management invested in the highest number of companies with at least one woman founder, at 24.3 per cent. Two VCs had not invested in woman-founded companies at all, according to publicly available data.

The Logic’s analysis is broken down by each firm below.

    Subscribe now to start reading premium, award-winning journalism.

    By entering your e-mail you consent to receiving commercial electronic messages from The Logic Inc. containing news, updates, offers or promotions about The Logic Inc.’s products and services. You can withdraw your consent at anytime. Please refer to our privacy policy or contact us for more details.

    In-depth, agenda-setting reporting

    Great journalism delivered straight to your inbox.


    Brookfield Asset Management partners with renewable energy fund on joint venture

    Swedish battery startup Northvolt to spend at least $7B on new Quebec gigafactory

    At All In conference, Canadian executives address angst over AI replacing jobs

    Best business newsletter in Canada

    Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.

    Exclusive events

    See the bigger picture with reporters and industry experts in subscriber-exclusive events.

    Membership in The Logic Council

    Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.

    Canada's most influential executives and policymakers are reading The Logic

    • CPP Investments
    • Sun Life Financial
    • C100
    • Amazon
    • Telus
    • Mastercard
    • bdc
    • Shopify
    • Rogers
    • RBC
    • General Motors
    • MaRS
    • Government of Canada
    • Uber
    • Loblaw Companies Limited