Research Report
Who Allocates Canada's Venture Capital?
An analysis of institutional participation and capital allocation across Canada's venture ecosystem.
Venture Canada works with leading academics to produce independent research on the institutions, capital flows, and market forces shaping Canadian venture capital. This research informs institutional decision-making, public policy, and the long-term development of the market.
An analysis of institutional participation and capital allocation across Canada's venture ecosystem.
Examining how Canadian venture funds are structured, capitalized, and scaled.
A data-driven analysis of sector and geographic allocation.
How capital moves, who allocates it, incentives, portfolio construction, institutional participation.
How Canadian venture funds are formed, structured, capitalized and governed.
Commercialization, talent, productivity, technology transfer and company formation.
Tax, regulation, government programs, pension capital, immigration, procurement, policy design.
M&A, IPOs, liquidity, recycling of capital and the ability to produce durable returns.
The Research Lab supports collaborative research by connecting university scholars, research fellows, and institutional partners around questions relevant to Canada's venture ecosystem.
| Project | Program | Status |
|---|---|---|
| The State of Canadian Venture Capital Allocation | Capital Allocation | In progress |
| Canadian Fund Formation 2026 | Fund Formation | In progress |
| University Commercialization Study | Innovation Economy | Upcoming |
The Venture Canada Research Institute is an independent, non-profit think tank dedicated to advancing understanding of Canada's venture capital ecosystem. By bringing together university scholars, institutional allocators, and policymakers, the Institute bridges academic rigor with market practice, delivering data-driven insights that shape capital allocation, fund design, public policy, and long-term economic growth.
To produce independent, non-partisan research that informs capital allocation, fund strategy, public policy, and the long-term development of Canadian venture capital.
The Institute combines academic research, empirical analysis, and industry knowledge to examine the institutions, incentives, capital flows, and market forces shaping Canada's venture ecosystem. Research is developed independently, grounded in evidence, and designed to contribute meaningful insight to researchers, institutions, policymakers, and market participants.
The Institute operates as a non-profit organization with independent governance and research oversight. Its governance framework is designed to protect research integrity, maintain transparency, and ensure that research and publications remain independent of commercial interests.
The Research Council brings together academic researchers and subject-matter experts across the five areas of the Canadian venture ecosystem: Capital Allocation, Fund Formation, Innovation Economy, Public Policy, and Exit Markets. Council members provide research guidance, academic perspective, and oversight of the Institute's research agenda.
Venture Canada works with leading academics to produce independent research on the institutions, capital flows, and market forces shaping Canadian venture capital, informing institutional decision-making, public policy, and the long-term development of the market.
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