Overall funding increased 16 per cent, marking the third consecutive annual increase and the highest number since at least 2014, according to a report by PwC Canada and CB Insights. (The Logic)
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Overall funding increased 16 per cent, marking the third consecutive annual increase and the highest number since at least 2014, according to a report by PwC Canada and CB Insights. (The Logic)
Talking point: There’s more money overall, but fewer firms are making investments. The number of deals decreased 11 per cent, but deal size jumped 13 per cent. Vancouver is emblematic of the trend. The city hit a six-year high, with US$924 million raised across 72 deals, compared with US$395 million raised across 109 deals the year previous. Waterloo also had a strong year, with an 81 per cent increase in terms of money raised. Toronto and Montreal took first and second place in funds raised, with US$1.3 billion and US$931 million, respectively, but neither moved much compared to previous years. Cleantech firms had a mixed year, with funding dropping 33 per cent, though the number of deals jumped 50 per cent. Fintechs, by contrast, had a banner year, with funding more than doubling to US$776 million.
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