Economic Impact of Companies Supported by VCCI 2017 – 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 Catalyst Initiative (VCCI) up to December 31, 2021. For 2021, data was reported for 108 out of 302 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 VCCI
  Companies reportingFootnote 1 Total Average
Employees 108 13,289 123
Revenue 2021 108 $1,331,181,581 $12,325,755
Revenue growth (2020 to 2021) 108 14% 52%
Revenue outside of Canada 108 Not available 43%
Research and development expenditure 108 $287,338,544 $2,660,542
Table 2: Distribution of companies supported by VCCI by annual revenue
Revenue range Number of companies within the rangeFootnote 1 Average revenue growth
(from 2020 to 2021)
$0 9 0%
$0–250K 16 -35%
$250K–1M 20 64%
$1M–10M 35 75%
$10–100M 27 67%
$100M+ 1 -26%
Total 108 69%
Table 3: Number of employees of VCCI-backed companiesFootnote 2, by industry sector
Sector Number of companiesFootnote 1 Number of employees
Number % of total
ICT 83 11,244 85%
Life sciences 11 1,181 9%
Energy and clean technology 8 673 5%
Other 6 191 1%
Total 108 13,289 100%
Table 4: Number of employees of VCCI-backed companiesFootnote 2, by province
Region Number of
companies
Number of employees
Number % of total
BC 1 76 1%
AB 2 404 3%
SK 23 4,697 35%
MB 53 5,338 40%
ON 20 2,383 18%
QC 4 288 2%
NB 2 30 0.2%
NL 3 73 1%
Total 108 13,289 100%

Footnotes