|
Laxman Pai, Opalesque Asia: Canada's venture capital (VC) market crossed the US$1-billion threshold in the fourth quarter for the second time in a row to finish 2019 at an all-time record of US$4.6 billion.
Canadian VC investment totaled US$1.17 billion in the fourth quarter, up 30 percent from the year-earlier period and down 34 percent from a record high of US$1.77 billion in the third quarter, said KPMG Private Enterprise's quarterly Venture Pulse report.
The number of closed deals were lower at 109, compared to 151 in the previous quarter, but were bigger in size, it added.
"It is really a testament to the growing maturity of Canada's venture capital ecosystem," said Sunil Mistry, partner, KPMG in Canada. "The tech ecosystem in Canada is now more independent and self-sustaining than ever before. I don't anticipate deal activity slowing down anytime soon."
The fourth quarter was powered by sizeable deals from 1Password, a Toronto-based password manager, Coveo, a Quebec City-based artificial intelligence startup, and Nuvei, a Montreal-based payment processing company.
"The Coveo funding round highlights the strength of Canada's AI innovation ecosystem, which has spread well beyond its traditional innovation hubs of Toronto, Vancouver, Montreal, and Waterloo," said Mistry.
"At a sector level, fintech continues to be a dominant area of interest for investors - both from an investment perspectiv...................... To view our full article Click here
|
RSS
