Economic Impact of Companies Supported by the Venture Capital Action Plan – December 31, 2021

This page includes an analysis of the economic impact on a representative group of Canadian companies that received investment by venture capital funds supported by the Venture Capital Action Plan (VCAP) up to December 31, 2021. For 2021, data was reported for 128 out of 381 Canadian companies.

Please note that this data is unaudited and reflective of voluntary reporting from underlying funds; it may not be suitable for year to year comparisons.

Table 1: Key statistics of companies supported by VCAP
- Companies reportingFootnote 1 Total Average
Employees 128 25,336 198
Revenue 2021 128 $4,382,074,364 $34,234,956
Revenue growth (2020 to 2021) 128 5% 36%
Table 2: Distribution of companies supported by VCAP by annual revenue
Revenue range Number of companies within the rangeFootnote 1 Average revenue growth (from 2020 to 2021)
$0 4 0%
$0–250K 9 64%
$250K–1M 16 61%
$1M–10M 43 44%
$10–100M 47 42%
$100M+ 9 23%
Total 128 32%
Table 3: Number of employees of VCAP-backed companiesFootnote 2
Sector Number of employees
Number % of total
ICT 22,006 87%
Life sciences 1,888 8%
Energy and clean technology 1,381 6%
Other 61 0.2%
Total 25,336 100%
Table 4: Number of employees of VCAP-backed companiesFootnote 2, by province
Region Number of companies Number of employees
Number % of total
BC 17 1,513 6%
AB 11 2,007 8%
SK 2 266 1%
MB 1 398 2%
ON 67 11,038 44%
QC 27 9,912 39%
NB 2 176 0.7%
NS 1 26 0.1%
Total 128 25,336 100%