Vancouver and BC tech funding in 2026
British Columbia ranked third in Canadian venture funding in H1 2026, but its average deal was the largest of the top three provinces. Cleantech, hardware and AI companies led the province's biggest rounds.
British Columbia is Canada's third-largest venture market by dollars. CVCA data for the first half of 2026 shows a province with fewer deals than Ontario or Quebec but larger rounds. The BC Tech Association's 2026 TechMap adds the scale of the sector behind those deals.
BC venture funding in H1 2026
CVCA recorded $570.4 million invested across 41 deals in BC in the first half of 2026. Ontario led with $1.12 billion across 99 deals and Quebec followed with $758 million across 60. BC's average deal size was $14.6 million, the highest of the three, against $13.5 million in Quebec and $11.8 million in Ontario.
By city, CVCA ranked Vancouver third with $168.6 million across 29 deals, behind Toronto and Montreal. Victoria placed tenth with $15.4 million across 4 deals.
BC's largest rounds
Three BC companies appeared in CVCA's top ten Canadian deals for H1 2026:
- Mangrove Lithium: $118.0 million, backed by BMW i Ventures, Breakthrough Energy Ventures and the Canada Growth Fund. It was the largest cleantech round in Canada.
- Photonic: $95.0 million, with BDC Capital, Export Development Canada, Inovia Capital, Mubadala Capital, InBC and Bell Ventures among the investors.
- Jetson: $69.1 million, with Eclipse VC, Garage Capital and 8VC among the investors.
BC also recorded one venture debt facility of $74.9 million, located in Richmond according to CVCA.
Public capital in BC rounds
Provincial and federal investors appear often in BC's larger deals. CVCA's H1 2026 tables show InBC Investment Corporation in 4 deals worth $120.5 million in total round value. British Columbia Investment Management Corporation took part in 2 deals worth $160.0 million, including Ontario's Dominion Dynamics. Photonic's syndicate combined BDC Capital, Export Development Canada and InBC with international investors such as Mubadala Capital.
AI companies founded in Vancouver
In March 2026, Vancouver-founded Gumloop raised a $50 million Series B led by Benchmark, according to Vancouver Tech Journal. Its platform lets employees build AI agents and automations across workplace tools. The company says customers include Shopify, Ramp and Instacart. Y Combinator and Shopify Ventures also participated.
BC's tech sector by the numbers
The BC Tech Association's TechMap 2026 reports more than 12,000 tech companies in the province and 271,000 tech workers. It says tech represents 9.6% of BC's economy and $30 billion in annual investment in jobs.
A second data source
CPE Media & Data Company, which uses a different methodology from CVCA, reported that BC companies raised $877 million in the first nine months of 2026. It named Vancouver among the top five Canadian cities by VC raised. Figures from different trackers should not be combined.
What the data means for BC founders
BC's large average deal reflects capital-intensive companies in cleantech and hardware. These companies draw strategic and international investors. Software founders in BC compete for a smaller pool of local seed capital and often raise from Toronto, the US or Europe.
Founder takeaways
- Use BC's hardware strength. Investors active in the province know capital-intensive models.
- Raise beyond the province. Build relationships with Toronto and US investors before you need them.
- Engage public co-investors. BDC, EDC and InBC appeared in BC's largest rounds.
- Recruit locally. A tech workforce of 271,000 gives BC startups a deep hiring pool.
Sources
- Venture Capital Q2 2026
CVCA Intelligence · Aug 4, 2026 - BC TechMap 2026
BC Tech Association · Sep 2026 - Vancouver-founded Gumloop raises $50M Series B to scale enterprise AI automation
Vancouver Tech Journal · Mar 12, 2026 - Continuing headwinds facing Canadian VC in Q3, 2026
CPE Media & Data Company (via Newswire) · Oct 20, 2026
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