Gavin Penny
Venture capital investment in Canadian technology companies continued at a robust pace in the first nine months of 2017, with $3.2 billion deployed to 377 financings, according to final data released by Thomson Reuters. In dollar terms, this represented a 26 percent increase from a year ago. Additionally, Q3 2017 marked the fourth consecutive quarter with more than $1 billion invested. A total of $1.16 billion went to 120 financings in this period, up 55 percent from the same time in 2016. Foreign investors have played a key role in 2017 market trends, with U.S venture capital firms accounting for 41 percent of all disbursements at the end of September.
Ideal, a Toronto-based company providing artificial intelligence solutions for recruiting, announced this week that it has raised $3 million in venture capital funding from a consortium of investors including MaRS Investment Accelerator Fund, with proceeds earmarked for supporting new and existing customers.
Upverter, a Toronto-based company providing web-based electronic design tools for engineers, announced this week that it has been acquired by, Australia-based Altium. Financial terms were not disclosed, but Upverter had been a portfolio company of Version One Ventures since 2013, securing over $3 million.
Rx Drug Mart said this week that it received a $10 million minority equity investment from BDC Capital to support its growth strategy and acquisition of 27 former Rexall pharmacies in Alberta, British Columbia, the Northwest Territories, Ontario and Saskatchewan. Co-investors included healthcare-focused Persistence Capital Partners. PRESS RELEASE BDC completes $10 million equity investment in Rx Drug Mart […]
Venture capital investment in Canadian startups continued at a very strong pace in Q1 2016 with a total of $869 million invested in 152 financings, according to data released by Thomson Reuters. Led by deal-making in information technology sectors, dollars invested in this period rose 61 percent from Q1 2015, reflecting the best quarterly result in the Canadian market in more than 14 years. Financing rounds, while down 4 percent year over year, nonetheless reflected the second-largest number for a first quarter since 2005. Fundraising in Canada’s venture capital industry also grew between January and March, accounting for $929 million, or 77 percent of total fund commitments during the whole of last year.