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Laxman Pai, Opalesque Asia: Canadian venture capital (VC) disbursements reached a historical high in 2019, completing 642 financings totaled $7.263 billion, up 28% and 48% respectively, said a study.
According to CPE Analytics, 26 large deals with a deal value of $50 million or more attracted $3,418 million or 47% of the total disbursements.
Ontario and Quebec led all provinces with $2,812 million (39%) and $2,116 million (29%) respectively, it said.
"These 2017-19 results clearly indicate that venture capital was full-throttle on the upswing of its regular business cycle with fundraising and disbursements both growing strongly across most categories, notably the US and foreign investment," said Richard Rémillard, President of Remillard Consulting Group (RCG).
"The strong 2017 - 2019 numbers should position VC-funded companies and VC funds themselves in good stead to withstand the ravages of COVID-19, particularly those firms that entered the pandemic crisis with substantial dry-powder remaining and who most likely raised considerable sums in the latter half of 2019," he added.
According to CPE study, three billion-dollar cities: Toronto - $2,027 million (28%), Montreal - $1,588 milion (22%), Vancouver - $1,475 million (20%).
ICT and biotech companies raised $4,020 million (55%) and $1,594 million (22%) respectively. Small-sized companies with the number of employees under 50 were dominating recipients of VC disbursements for the past three years...................... To view our full article Click here
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