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.
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 | $3B | 4,303 |
| 2 | British Columbia | $78.4B | 9.2× | 23 | $1.8B | 2,046 |
| 3 | Quebec | $66.7B | 3.6× | 16 | $1B | 1,365 |
| 4 | Alberta | $24.9B | 4.8× | 8 | $369.5M | 1,182 |
| 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 | 77 |
| 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.