We’ve been tracking every deal, every transition, every signal in Vancouver's tech ecosystem for the past year. What follows is our view from the ground, synthesizing hundreds of conversations, funding announcements, and quiet moves that don't always make headlines but tell the real story of where this ecosystem is headed.

Consider this your briefing. Twenty-six observations that matter, drawn from a year of relentless attention to the companies, capital, and people building Vancouver into something more than a regional tech hub. Some of this you'll know. Much of it you won't. All of it connects.

As we kick off 2026, here's what you need to know about the deals, people, and momentum that defined 2025 and will shape the year ahead.

-William

P.S. What do you think I should be watching for this year? Just hit reply and let me know.

1. Clio's billion-dollar ambitions: If you haven't been paying attention, you may not know that Clio raised a monster $500 million Series G at a $5 billion valuation, closed a $1 billion acquisition of vLex, and secured a $350 million debt facility led by Blackstone and Blue Owl Capital. The legal tech giant is now operating at a scale that few Canadian companies ever reach.

2. Jane Software joins the centaur club: The North Vancouver-based practice-management platform for healthcare professionals is valued at north of $1.8 billion, thanks to a $500 million secondary deal led by TCV, JMI Equity, and Tidemark. Jane also joined an elite group of B.C. private companies generating over $100 million in annual revenue last year, including Clio, Cymax, Fantuan, GeoComply, Global Relay, Koho, Redbrick Technologies, Trulioo, Visier, and many more (per Globe and Mail).

3. Deep tech raises big money: Aspect Biosystems, which bio-prints tissue that can replace, repair, or supplement biological function inside the body, closed a $115 million Series B led by Dimension, with participation from InBC, Pallasite Ventures, Pangaea Ventures, and Rhino Ventures. Meanwhile, Novarc, a full-stack AI robotics company specializing in automated welding, raised $50 million in Series B funding last year.

4. Last-mile delivery finds its champion: If you haven't been paying attention, you may not know that Richmond-based UniUni has raised three financing rounds in a single year, culminating in a $70 million round led by Bessemer Venture Partners and Sinovation Ventures. The company now has $202 million in total funding, generates $500 million in annual revenue, and delivers for Temu, Shein, and AliExpress across North America. UniUni ranked 17th on Deloitte's Fast 500 list with a staggering 6,829% growth.

5. AI and automation everywhere: 4AG Robotics raised $40 million to scale autonomous mushroom harvesting as demand surges for specialized agricultural robots. Quandri secured $12 million to expand its insurance automation platform and open a new 15,000-square-foot Vancouver headquarters. And Klue, an AI-powered competitive intelligence platform, acquired fellow Vancouver company Goldpan, which had been building AI tools in stealth for win-loss research. Klue also laid off 40% of it’s workforce mid-year, indicative of a shifting AI landscape.

6. Climate tech and critical minerals: pH7 Technologies raised $25.6 million in Series B funding led by Fine Structure Ventures, with BHP Ventures joining as a strategic investor, to scale its critical minerals extraction technology—a sector that's becoming increasingly strategic as supply chain concerns mount globally.

7. Local funds raised big: Vancouver-headquartered GTMfund closed $54 million for its second VC fund, surpassing its initial $50 million target. Yaletown Partners announced a $100 million first close for its $250 million growth fund, pushing the firm's active capital under management to $600 million. And Vistara Growth says its Fund V has topped $265 million in commitments with strong repeat LP support.

8. Government gets strategic: If you haven't been paying attention, you may not know that InBC—the province's $500 million investment fund—announced a $10 million investment into Vanedge Capital. The federal government also committed $50 million to Stemcell Technologies to support the construction of two new biomanufacturing facilities worth $222 million, keeping critical biotech jobs in Metro Vancouver.

9. Record-breaking crowdfunding: Vancouver-based Blossom, a social network for investors, closed a $3 million funding round that included the most successful equity crowdfunding campaign in Canadian history. In just six hours, over 1,100 users invested $1.86 million via FrontFundr, demonstrating retail appetite for local tech investments.

10. An acquisition frenzy: Last spring saw four companies—Pocketed, Hubly, Clio, and Apply Digital—involved in acquisitions. The momentum continued with three more deals: Speedsense (e-commerce web performance optimization) was acquired by Yottaa; Klue acquired Goldpan (as noted above); and UniUni acquired Toronto-based Shippie to strengthen its e-commerce logistics position.

11. Historic returns validate early bets: Pender Ventures won the 2025 VC Deal of the Year for its 2010 Series B investment in Vancouver's Copperleaf Technologies, which delivered a 42.9x return and 30.9% IRR following Copperleaf's $1 billion acquisition by IFS. It's a reminder that the seeds planted a decade ago are still producing extraordinary outcomes.

12. Databricks opened a Vancouver R&D centre: If you haven't been paying attention, you may not know that San Francisco-based Databricks, heading toward a Series K valuation above $100 billion, has launched a Vancouver R&D hub led by Ken Wong to build AI/BI, Unity Catalog Semantics, Databricks Apps, and petabyte-scale real-time analytics.

13. Global companies partner locally: Global companies like SHEIN are doing business with local Vancouver companies like Alibris, a global book marketplace, reflecting Vancouver's growing integration into international supply chains and e-commerce infrastructure.

14. Cabinet shuffle signals priorities: If you haven't been paying attention, you may not know that Premier David Eby unveiled his third cabinet with strategic moves designed to align government leadership with B.C.'s economic priorities. Ravi Kahlon was tapped to lead the jobs and economic growth file at a perilous time for the province and country. Brenda Bailey, a former innovation minister and tech entrepreneur, is now leading the finance ministry, holding the province's purse strings and overseeing Innovate BC, a key tech-focused crown agency closely involved in Web Summit Vancouver efforts.

15. AI gets a minister: Rick Glumac's appointment as Minister of State for AI and New Technologies suggested that the tech industry has a dedicated voice at the cabinet table—a recognition of both the sector's importance and the need for focused policy attention.

16. The 400,000 workforce goal: The province announced a plan to grow the tech workforce to 400,000 through its Look West initiative, an ambitious target that will require coordination across education, immigration, and economic development.

17. The growth leader board: If you haven't been paying attention, you may not know that B.C. companies lit up Canada's fastest growing company lists. Vancouver's Gearlay took the top spot in the Companies-to-Watch category with 86,394% growth. KOHO ranked second nationally in the Enterprise—Industry Leaders category. Veritree grew 6,565%. Apera AI grew 5,264%. Oxygen8 Solutions grew 1,566%.

18. Funding rounds galore: By mid-2025, more than 50 funding rounds had been reported across the Vancouver ecosystem—a pace that suggests the capital markets remain functional even as global venture conditions tighten.

19. General Fusion's persistence: The fusion energy company raised US$22 million and added key investors to its board, continuing its decades-long pursuit of commercial fusion power. It's a reminder that some of Vancouver's most ambitious bets are still very much in play.

20. New startup spaces emerge: The physical infrastructure continues to expand with new startup spaces including Althra, North House, and COAST Hub in Victoria. New projects like Game On (led by Chris Neumann) and The Syndicate are working to "bend gravity toward Vancouver."

21. The event calendar solidifies: The 7th Western Angel Investment Summit in Victoria is February 19-20, 2026. Vancouver Startup Week will take place April 27 to May 1, 2026. Web Summit Vancouver will be May 11 to 14, 2026. These anchors provide a rhythm to the year and concentrate global attention on the ecosystem.

22. Notable departures and new chapters: If you haven't been paying attention, you may not know that a cluster of known names have announced transitions: Cameron Uganec closed a four-year chapter at Thinkific. Leah Nguyen and Jill Earthy left InBC Investment Corp. after stewarding hundreds of millions into local companies and funds. Ka-Hay Law, a local partner with Telus Global Ventures, shared that she’s moving on. Sydney Redpath wrapped up her role at DIGITAL and is now at ICTC. Anastasia Hambali exited Boast and is now at Merchant Growth. Ada Slivinski completed a multi-year term as VP at Talk Shop PR and has landed at Swerve Strategic Marketing. Cameron Burke left Fort Capital to become a partner at EY-Parthenon.

23. New leadership emerging: These transitions create space for new voices and new energy. Watch for more announcements about where talent lands next—talent doesn't leave the ecosystem, it recirculates.

24. Vancouver is specializing: The ecosystem is developing clear strengths in legal tech, health tech, climate tech, robotics, AI, quantum, and last-mile logistics. This specialization makes the ecosystem more defensible and more attractive to both capital and talent.

25. The capital stack is complete: From equity crowdfunding to growth equity to debt financing to M&A exits, Vancouver companies now have access to capital at every stage. The question is no longer whether funding is available, but whether companies are building things people want. Some would argue this has been true for a while.

26. The stakes are higher: If you haven't been paying attention, you may not agree with me when I say that Vancouver is probably punching above its weight. With companies valued in the billions, funds in the hundreds of millions, and government backing at the cabinet level, the ecosystem has moved from potential to performance. The question for 2026 isn't whether Vancouver tech can succeed, but how far it can it continue to scale.