Ontario
State · Canada · Pop. 15.6M · #20 region by EV
Enterprise value
How much Ontario’s VC-backed companies are worth
Combined enterprise value of VC-backed companies headquartered in Ontario, founded since 1990 and still operating, at the end of each year. Companies stay in the total after they list or are acquired.
VC investment
How much venture capital flows into Ontario
VC investment into Ontario-headquartered, VC-backed companies, broken down by round size, company location, sector and funding stage.
Startup funnel
Ontario's startup funnel
Companies headquartered in Ontario at each stage today, by total VC raised. Hover a bar for the split.
Source: Dealroom.co
Quarterly report
Ontario's latest quarter in venture capital
VC raised by Ontario-headquartered companies in the quarter shown, against the quarter before and the same quarter a year earlier.
Latest complete quarter
Loading VC raised by Ontario-headquartered companies…
Largest rounds
Largest funding rounds in Ontario
A live treemap of the largest VC rounds. Each cell is one round into Ontario-headquartered companies, grouped by Dealroom sector.
Largest rounds in Ontario - 2026
Top sub-locations
Inside Ontario: top 6 metros
Metros inside Ontario ranked by combined enterprise value, paired with their 5-year growth multiplier.
Academia
Ontario's academic flywheel
Companies founded by university alumni or spun out of research, plus the institutions producing the most founders tied to Ontario.
Location comparison
How Ontario stacks up
Compare Ontario with peers from the same country (Canada) — switch between combined EV, EV growth, and a growth × size view. Expand the table for the full ranking.
Combined enterprise value of each ecosystem.
Top regions in Canada ranked by combined EV. Ontario's row is highlighted (#1).
| # | Ecosystem | Combined EV | EV growth | Unicorns | VC invested | Tracked startups |
|---|---|---|---|---|---|---|
| 1 | Ontario | $378B | 14.9× | 38 | $3.3B | 4,447 |
| 2 | British Columbia | $79.3B | 9.0× | 23 | $1.8B | 2,099 |
| 3 | Quebec | $65.9B | 3.6× | 18 | $926.1M | 1,408 |
| 4 | Alberta | $25.2B | 4.8× | 8 | $373.7M | 1,191 |
| 5 | Newfoundland and Labrador | $3.9B | 68.2× | 1 | $86.2M | 59 |
| 6 | Nova Scotia | $3B | 6.2× | 0 | $163.3M | 245 |
| 7 | New Brunswick | $1.5B | 3.3× | 0 | $12.9M | 97 |
| 8 | Saskatchewan | $1.5B | 13.9× | 0 | $4M | 76 |
| 9 | Manitoba | $1.4B | 4.2× | 0 | $107.7M | 81 |
| 10 | Prince Edward Island | $104.6M | — | 0 | $5.4M | 17 |
More data
Explore Dealroom data →Get the full Ontario ecosystem on Dealroom
Live company-by-company deal flow, full cap tables, founder pedigrees, hiring signals and revenue trajectories.