# PE firms based in Canada (2026 list) > 498 PE firms based in Canada, 3% active in the last 12 months. Led by National Bank of Canada, Royal Bank of Canada, Cycle Capital. Ranked by what they funded. Source: https://millionrounds.com/lists/pe-firms-based-in-canada (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # PE firms based in Canada Updated 7 November 2026 PE firms headquartered in Canada. [See all 498 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fpe-firms-based-in-canada)The top 25 **498** investors on the list *+1* this week **61** cheques in 12 months *+69%* against the market **$15M** median round they joined *+88%* against the market median **3%** wrote a cheque in 12 months **4%** have led a round ## The Top 25 Ordered by cheques observed, never by anything anyone paid for Deploying now (5) - 1 [National Bank of Canada](https://millionrounds.com/fund/national-bank-of-canada) *Deploying now* Private equity · Canada **77** **$74M** median round **Sept 2026** last seen - 2 [Royal Bank of Canada](https://millionrounds.com/fund/royal-bank-of-canada) *Deploying now* Growth equity · Canada **46** **$100M** median round **Oct 2026** last seen - 3 [Cycle Capital](https://millionrounds.com/fund/cycle-capital) *Deploying now* Private equity · Canada **30** **$8.5M** median round **Aug 2026** last seen - 4 [GeneChem](https://millionrounds.com/fund/genechem) dormant Growth equity · Canada **21** **$20M** median round **May 2014** last seen - 5 [Banyan Capital Partners](https://millionrounds.com/fund/banyan-capital-partners) quiet Private equity · Canada **12** **$15M** median round **Jul 2015** last seen - 6 [Sectoral Asset Management](https://millionrounds.com/fund/sectoral-asset-management) quiet Private equity · Canada **12** **$40M** median round **Oct 2025** last seen - 7 [Tandem Expansion Fund](https://millionrounds.com/fund/tandem-expansion-fund) dormant Growth equity · Canada **12** **$17M** median round **Nov 2015** last seen - 8 [Relay](https://millionrounds.com/fund/relay) quiet Growth equity · Canada **10** **$22M** median round **Apr 2019** last seen - 9 [Beacon Securities](https://millionrounds.com/fund/beacon-securities) quiet Growth equity · Canada **8** **$10M** median round **Jun 2015** last seen - 10 [Beedie Capital](https://millionrounds.com/fund/beedie-capital) quiet Private equity · Canada **8** **$23M** median round **Jan 2019** last seen - 11 [Parkview Capital Partners Inc.](https://millionrounds.com/fund/parkview-capital-partners-inc) quiet Private equity · Canada **8** **$3.1M** median round **Jul 2012** last seen - 12 [Canada Pension Plan Investment Board](https://millionrounds.com/fund/canada-pension-plan-investment-board) *Deploying now* Growth equity · Canada **7** **$200M** median round **Oct 2026** last seen - 13 [Northleaf Capital Partners](https://millionrounds.com/fund/northleaf-capital-partners) quiet Private equity · Canada **7** **$222M** median round **Sept 2019** last seen - 14 [Quark Venture](https://millionrounds.com/fund/quark-venture) quiet Growth equity · Canada **7** **$16M** median round **Dec 2019** last seen - 15 [Wesley Clover](https://millionrounds.com/fund/wesley-clover-international) quiet Private equity · Canada **7** **$6.2M** median round **Aug 2018** last seen - 16 [Primaxis Technology Ventures Inc.](https://millionrounds.com/fund/primaxis-technology-ventures-inc) quiet Growth equity · Canada **7** **$12M** median round **Sept 2007** last seen - 17 [NORTHBRIDGE EQUITY](https://millionrounds.com/fund/northbridge) quiet Private equity · Canada **6** **$30M** median round **Feb 2019** last seen - 18 [Ag Capital Canada](https://millionrounds.com/fund/ag-capital-canada) quiet Private equity · Canada **5** **$4.4M** median round **Aug 2022** last seen - 19 [BoxOne Ventures](https://millionrounds.com/fund/boxone-ventures) quiet Private equity · Canada **5** **$3.5M** median round **Sept 2025** last seen - 20 [IGM Financial](https://millionrounds.com/fund/igm-financial) *Deploying now* Private equity · Canada **5** **$50M** median round **Oct 2026** last seen - 21 [Novacap](https://millionrounds.com/fund/novacap) quiet Private equity · Canada **5** **$7M** median round **Aug 2008** last seen - 22 [Onex](https://millionrounds.com/fund/onex) quiet Private equity · Canada **5** **$83M** median round **May 2015** last seen - 23 [TechnoCap](https://millionrounds.com/fund/technocap) dormant Growth equity · Canada **5** **$25M** median round **Mar 2004** last seen - 24 [3W Capital](https://millionrounds.com/fund/3w-capital) quiet Growth equity · Canada **4** **$75M** median round **May 2018** last seen - 25 [Clairvest Group](https://millionrounds.com/fund/clairvest-group-inc) quiet Private equity · Canada **4** **$74M** median round **May 2017** last seen **473 more on this list** All 498 are in the app, with filters for stage, sector and market. A free account shows 10 per search, Pro up to 1,000. [See the whole list *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fpe-firms-based-in-canada) ## The Newest Cheques Rounds this list's investors joined most recently - **29** Oct **[Solink](https://millionrounds.com/company/solink)** Growth · $100M *Led by* [Vertu Capital](https://millionrounds.com/fund/vertu-capital) - **28** Oct **[Wealthsimple](https://millionrounds.com/company/wealthsimple)** Growth · $425M *With* [Canada Pension Plan Investment Board](https://millionrounds.com/fund/canada-pension-plan-investment-board) - **28** Oct **[Wealthsimple](https://millionrounds.com/company/wealthsimple)** $302M *With* [Canada Pension Plan Investment Board](https://millionrounds.com/fund/canada-pension-plan-investment-board) - **26** Oct **[North Vector Dynamics](https://millionrounds.com/company/north-vector-dynamics)** Series A · $20M *With* [One 9 Investments](https://millionrounds.com/fund/one9) - **23** Oct **[Deriva Energy](https://millionrounds.com/company/deriva-energy)** Debt · $540M *With* [Royal Bank of Canada](https://millionrounds.com/fund/royal-bank-of-canada) - **8** Oct **[Nuveen Real Estate](https://millionrounds.com/company/nuveen-real-estate)** Other · $694M *With* [Canada Pension Plan Investment Board](https://millionrounds.com/fund/canada-pension-plan-investment-board) ## Stages This Year 54 rounds - Debt **44%** - Series A **11%** - Growth **9%** - Other **7%** - Series B **7%** - Other **20%** ## What They Backed Sectors, last 12 months - AI **13** - Energy **10** - Construction **6** - Cleantech **6** - Fintech **5** - Climate Tech **4** ## Cheques by Quarter Led Joined 10 Q1 25 7 Q2 25 10 Q3 25 10 Q4 25 23 Q1 26 19 Q2 26 8 Q3 26 9 Q4 26 The last bar is the quarter still running. ## Lists Like This - [VC firms based in United States 25,936](https://millionrounds.com/lists/vc-firms-based-in-united-states) - [PE firms based in United States 19,904](https://millionrounds.com/lists/pe-firms-based-in-united-states) - [VC firms based in United Kingdom 2,451](https://millionrounds.com/lists/vc-firms-based-in-united-kingdom) - [VC firms based in China 1,473](https://millionrounds.com/lists/vc-firms-based-in-china) - [VC firms based in India 1,309](https://millionrounds.com/lists/vc-firms-based-in-india) - [VC firms based in Canada 1,211](https://millionrounds.com/lists/vc-firms-based-in-canada) - [VC firms based in Germany 1,186](https://millionrounds.com/lists/vc-firms-based-in-germany) - [PE firms based in United Kingdom 974](https://millionrounds.com/lists/pe-firms-based-in-united-kingdom) - [Incubators and accelerators based in United States 828](https://millionrounds.com/lists/incubators-accelerators-based-in-united-states) [All investor lists *→*](https://millionrounds.com/lists) ## Quick answers about PE firms based in Canada ### Who are the most active PE firms based in Canada? By cheques observed, the most active are National Bank of Canada, Royal Bank of Canada, Cycle Capital, GeneChem and Banyan Capital Partners. ### How many PE firms based in Canada are there? 498 are on record. 3% made an investment in the last 12 months and 4% have led a round. ### Which stages do PE firms based in Canada back? Of the rounds with a named stage in the last 12 months, mostly Debt (51%) and Series A (13%). ### How big are the rounds PE firms based in Canada join? The typical (median) round among the leading investors here is $22M. ### Which sectors do PE firms based in Canada back most? In the last 12 months, mostly AI, Energy and Construction. ### Which PE firms based in Canada lead the most rounds? Ag Capital Canada (4 led), Cycle Capital (2 led) and Sectoral Asset Management (2 led). ### What have PE firms based in Canada invested in recently? Recent rounds include Solink (Growth, Oct 2026, with Vertu Capital), Wealthsimple (Oct 2026, with Canada Pension Plan Investment Board) and North Vector Dynamics (Series A, Oct 2026, with One 9 Investments). ### How is this list of PE firms based in Canada ranked? By cheques observed, from the rounds and filings we watched, and never by anything anyone paid for. It is rebuilt every night. Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)