2026 Private Capital Hot Topics: Key Takeaways

Davies partners recently presented on fund formation, fundraising, M&A and secondaries going into 2026 for the Canadian Venture Capital and Private Equity Association (CVCA).

Here are seven of their key takeaways:

Fund Formation and Fundraising: fundraising remains challenging. Canadian fundraising remains challenging and prolonged (18 to 24 month fundraising periods are common), with more traction for top-quartile performers and growing interest by sponsors for retail and insurance capital as sponsors look beyond traditional institutional investors. Macroeconomic uncertainty persists, but there is a renewed policy focus on Canadian investments in certain sectors (infrastructure, critical minerals).