Of the almost $1.4 billion in private capital invested in Canadian companies in the first three months of 2024, 74 per cent came from sources outside Canada, according to a report from data and analytics firm CPE. That’s up from 55 per cent a year earlier. (The Logic)

Talking point: U.S. investors made up the vast majority of venture capital sources in the first quarter. The result is “disturbing,” said Richard Rémillard, president of Rémillard Consulting Group, who helped draft the report. “This is a historically low contribution of VC from Canadian sources and may be a sign of structural weakness in the industry,” he said. Another concerning finding, said Rémillard, is the relatively small amount of money that VC funds themselves raised in Q1. According to the report, 17 VC funds raised $745 million, which Rémillard said doesn’t come close to meeting companies’ demand for capital.