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VC funding drops nearly two-thirds in third quarter, data shows

The life-sciences sector saw the second-most venture capital dollars year to date as of September 30, at 29 per cent, which CVCA CEO Kim Furlong said “is far above anything that we’ve ever seen.” Shutterstock
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VANCOUVER — Venture capital and private equity funding declined in Canada in the third quarter, with nearly two-thirds fewer VC dollars invested than in the same time last year, according to data from the Canadian Venture Capital & Private Equity Association (CVCA). 

“Last year, Q3 was extremely high,” Kim Furlong, CEO of the CVCA, told The Logic in an interview. The third quarter of 2019 saw $2.4 billion in venture capital funding across 130 deals—higher than any other quarter in years by more than $1 billion. “So we’re comparing ‘spectacular’ to this year, which addresses some of the drops.”

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