Venture Capital

BDC, Canada’s largest venture capital firm, concerned about declining company creation

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The Business Development Bank of Canada (BDC), the country’s largest early-stage tech investor and most active venture capital investor, says it is concerned about an apparent decline in the number of new startups founded in the country.

Data from Hockeystick, a Toronto-based research and software provider, lists 349 companies in its database of Canadian startups as being founded in 2016, the last full year for which data is available. The total is down 26 per cent from 472 companies founded in 2015, and is the lowest in the dataset since 2011.

Peter Misek, a partner at BDC’s IT Venture Fund—which manages more than $300 million in VC investments in the tech space—said data in the fund’s own larger proprietary database mirrors Hockeystick’s “very, very closely.”

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