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

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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