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Canadian Tech in 100 Words

Top Down Ventures Defines Managed AI as New Asset Class

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Vancouver-based venture capital firm Top Down Ventures has released The State of MSP Capital in the Age of AI, a 67-page report prepared for its Top Down Horizons MSP Investor Summit. The study analyzes how artificial intelligence, governance, and capital efficiency are transforming the global managed services market, forecast to reach US$950 billion by 2030.

“AI is transforming providers from maintenance partners into intelligence partners,” said Managing Partner Joel Abramson. The report identifies a new “Next-Gen MSP” era driven by automation, operational intelligence, and data transparency. It positions Managed AI as a new asset class for investors.

Want to know more? Check out the source code on Techcouver.

Canadian Private Equity Hits $56.5B Record on Megadeal Boom

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Private equity investment in Canada has surged to record levels, with $56.5 billion deployed so far in 2025—nearly double the previous full-year record set in 2014, according to the Canadian Venture Capital & Private Equity Association. The third quarter alone saw $25.4 billion invested across 151 deals, compared to $3.6 billion a year earlier.

A wave of billion-dollar buyouts and other megadeals accounted for 91 percent of all capital deployed. Analysts say the rebound reflects pent-up demand following two slow years amid rising interest rates. Venture capital also saw larger transactions, with nine VC megadeals recorded in the third quarter.

Want to know more? Check out the source code on The Logic.

Study Finds Young Canadians Most Vulnerable to iGaming Harm

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A new report warns that online gambling is driving a sharp rise in addiction risk among young Canadians. The study, based on nearly 8,000 survey responses, found that 41 per cent of online gamblers met the criteria for problem gambling—compared with less than one per cent of lottery players.

Nearly one in five reported serious financial, emotional, or relationship harm. Among adults aged 18 to 29, one-third said they gamble online, and nearly 70 per cent of them met problem-gambling thresholds. Researchers link the trend to expanded access following legalized single-event sports betting and rising exposure to iGaming advertising.

Want to know more? Check out the source code on The Logic.

Intel Study Shows Canadian Firms Racing Toward AI Computing

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Canada’s persistent productivity problem may have found a turning point as a new Intel-commissioned study shows businesses rapidly shifting toward AI-powered computing. Of 150 surveyed Canadian decision-makers, 85 percent are upgrading or planning to upgrade to AI PCs, while 3 percent already rely on them exclusively.

Respondents overwhelmingly expect output gains, citing performance, operational efficiency, and cost savings. But barriers remain, including upfront expenses, security concerns, and a significant AI skills gap. With Windows 10 support ending, analysts say modernization is unavoidable. Researchers believe AI PCs could help close Canada’s long-standing productivity gap and reshape digital-era workplace performance.

Want to know more? Check out the source code on Techcouver.

Vistara Growth Raises US$450M Fund to Back Tech Firms

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Vancouver-based Vistara Growth has closed its fifth structured-capital fund at US$450 million (C$700 million), marking a decade of flexible financing for technology companies across North America. The new fund, a 66% increase from Fund IV, reflects investor confidence in non-dilutive growth capital.

Founded by Randy Garg, Vistara bridges the gap between bank debt and venture equity, offering tailored debt and convertible financing for B2B software and tech-enabled service firms. Fund V has already backed eight companies, including Clariti Cloud and Kore.ai. Since inception, Vistara has made 42 investments and 23 exits—all without a single loss.

Want to know more? Check out the source code on Techcouver.

CoLab Raises $72M USD to Lead AI-Driven Engineering Revolution

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St. John’s-based CoLab has secured $72 million USD in Series C funding led by Intrepid Growth Partners, reaffirming its leadership in artificial intelligence for engineering collaboration. Existing investors Insight Partners, Y Combinator, Pelorus VC, Killick Capital, and Spider Capital also participated, with Insight increasing its position.

CoLab’s EngineeringOS platform is used by Ford, Lockheed Martin, and Schneider Electric to streamline design reviews and improve decision-making. Since unveiling its AI peer-checker AutoReview in June, the company has added over 47,000 engineers to its waitlist and is on pace to triple revenue in 2025.

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Clio Completes US$1B vLex Acquisition, Hits US$5B Valuation

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Vancouver’s Clio has finalized its US$1 billion acquisition of vLex, marking one of the largest transactions in legal technology history. The deal coincides with Clio’s US$500 million Series G round led by NEA, valuing the company at US$5 billion, alongside a US$350 million debt facility.

Together, they establish Clio as an AI-first leader uniting legal business and practice through its new Intelligent Legal Work Platform, integrating vLex’s global data and Vincent AI. “This is a defining moment for Clio and the legal industry,” said CEO Jack Newton. The milestone expands Clio’s reach into enterprise legal services worldwide.

Want to know more? Check out the source code on LegalTech.ca.

Canadian Science at the Heart of Nike’s Comeback

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Nike’s latest sneaker innovation has roots in Canada. The concept behind its new performance shoe line began over 20 years ago at the University of Calgary, where researcher Matthew Nurse studied how foot sensations influence athletic movement.

Now leading the Nike Sport Research Lab, Nurse and a team of Canadian scientists are driving the company’s renewed focus on innovation under returning CEO Elliott Hill. After years of slowing growth, Nike is betting on research-led design to reclaim its market dominance. Recent launches—from AI-informed sneakers to calming footwear—mark a science-fueled reset for the sportswear giant.

Want to know more? Check out the source code on The Logic.

Toronto’s OneVest Modernizes Wealth Tech with Modular Design

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Toronto-based fintech company OneVest has unveiled a refreshed brand identity following its $27-million Series B financing earlier this year from investors including Salesforce Ventures and Luge Capital. The firm’s modular wealth management platform enables banks, RIAs, and asset managers to deploy customizable, no-code digital solutions.

“We’re scaling to meet demand as legacy vendors struggle to modernize,” said CEO Amar Ahluwalia. OneVest’s unified tools—One View, One Flow, and One Hub—create a seamless client-advisor experience. Its new slogan, Tomorrow’s Technology, Today’s Wealth, reflects the company’s mission to unify data and workflows for financial institutions worldwide.

Want to know more? Check out the source code on Fintech.ca.

1Password Tops $400M Revenue, Eyes AI-Driven Future

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Toronto-based cybersecurity company 1Password has surpassed $400 million USD in annual recurring revenue, up from $250 million last year, while remaining free cash flow-positive. CEO David Faugno said the company is profitable and “could be public today,” though it will wait for greater predictability in the AI market before pursuing an IPO.

The 1,400-person firm serves 180,000 businesses, including nearly one-third of the Fortune 100. Recent leadership hires include president Michael Hughes and chief business officer John Torrey. Founded in 2005, 1Password continues expanding its AI-driven access management platform as it moves toward $1 billion in annual revenue.

Want to know more? Check out the source code on BetaKit.