• RBCx data shows Canada’s early-stage startups raised 40% less venture capital in Q1 2026 versus Q1 2025.
• Fewer founders raised capital, down 40% year over year, while average seed round sizes held near $3 million.
• Emerging VC managers raised $2.8 billion in 2025, about 36% below expected levels based on historical patterns.
• Market concentration intensified, with five established funds taking nearly 80% of 2025 capital raised.
• Fundraising outside the top five fell roughly 90% since 2021, tightening funding options for first-time founders.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. RBC - Royal Bank of Canada published the original content used to generate this news brief on June 24, 2026, and is solely responsible for the information contained therein.