US investors lead funding in Canadian VC deals in Q1 2019


U.S. investors accounted for 52.8 per cent of funding in Canadian tech companies in the first quarter of 2019, according to a report from CPE Media, a private capital and public markets intelligence firm. Canadian investors contributed 39.2 per cent. (The Logic)

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Talking point: In January, venture capitalists told me U.S. funds were becoming more interested in Canadian companies, which are increasingly achieving a scale that requires larger cheques. Several Canadian VC firms have raised large funds recently—including iNovia’s $600-million close in February—but there’s still far more money in the U.S., where limited partners committed US$56 billion to 256 venture funds in 2018. This is another report confirming the growing trend of foreign participation in Canadian venture capital deals. U.S. investors were the second-largest group in Canadian deals in 2018, according to PwC and CB Insights’ quarterly MoneyTree report on venture capital.