Ontario
State · Canada · Pop. 15.6M · #19 region by EV
* C→Unicorn and Unicorn→Decacorn rates are derived from current counts (no founding-cohort data); the four mid-funnel rates use Dealroom's cohort tracking.
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 7 metros
Metros inside Ontario ranked by combined enterprise value, paired with their 5-year growth multiplier.
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.
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 | $383B | 15.0× | 38 | $3.1B | 4,311 |
| 2 | British Columbia | $79.1B | 9.3× | 23 | $1.8B | 2,044 |
| 3 | Quebec | $66.9B | 3.7× | 16 | $1B | 1,368 |
| 4 | Alberta | $24.9B | 4.7× | 8 | $373.7M | 1,181 |
| 5 | Newfoundland and Labrador | $3.9B | 68.4× | 1 | $86.2M | 58 |
| 6 | Nova Scotia | $3B | 6.3× | 0 | $163.3M | 240 |
| 7 | New Brunswick | $1.5B | 3.3× | 0 | $5.4M | 92 |
| 8 | Saskatchewan | $1.5B | 13.9× | 0 | $4M | 75 |
| 9 | Manitoba | $1.4B | 4.2× | 0 | $107.7M | 78 |
| 10 | Prince Edward Island | $104.6M | — | 0 | $5.4M | 17 |
Sector concentration
Where Ontario punches above its weight
Sectors in which Ontario's share of the global unicorn pool is bigger than its overall share. A 5× over-index means Ontario is 5× more represented in that sector than in the global average. Source: top-hub aggregation across the 18 simplified sectors.
Premium analytics
What we don't show on this page (yet)
Sector breakdowns, founder origins, AI-talent leaderboards and live deal flow are gated to logged-in Dealroom users. Book a demo to access the full Ontario dataset — or see a sample on the Dealroom app.
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.