According to the Canadian Venture Capital Association, investments were spread over 142 deals—a 48 per cent bump from the same quarter in 2018, when $690 million was invested across 139 deals. Tech companies made up some of the largest deals this quarter, with Toronto-based financial software company Vena Solutions raising $115 million from U.S. investors in one of the notable “mega-deals,” which the organization defines as deals over $50 million. (BetaKit)

Talking point: The 48 per cent year-over-year growth is healthy, but the next few quarters should be bigger, thanks to a surge of new Canadian players and capital. Pension funds are becoming more involved in tech investing, with Ontario Teachers’ Pension Plan launching its own fund, and the Canada Pension Plan Investment Board intending to invest $1 billion in venture capital funds. The government’s Venture Capital Catalyst Initiative (VCCI)—which provided $350 million to five fund-of-funds—is bringing a new injection of capital to VC funds. And, in early February, iNovia Capital raised US$600 million for two new funds, a huge jump from its last fund close of $180 million in 2016. iNovia’s two new funds included limited partners Teralys Capital, Kensington Capital and Northleaf Capital, three recipients of VCCI funding.