Topic: Venture Capital

Reports: Q1 2018 records strong VC interest, but PE growth ‘slow’

Investments in innovative companies were up in the first quarter of 2018 (Q1/18) across several sectors with venture capital funds leading the way, according to two new reports on Canadian activity. However, when it comes to private equity investments, one report indicates that investments were relatively slow but still bigger in value.

Ontario Budget 2018 puts more support for scale-ups, startups and promising sectors

With elections just around the corner, Ontario Liberals released earlier than usual its 2018 budget, which includes at least $1.5 billion for R&D and innovation. The $158.5-billion spending plan focuses largely on enhanced social, education and healthcare initiatives but also commits millions to businesses as well as R&D, innovation and competitiveness.

Alberta corporation to invest in VC to seed startups

Alberta Enterprise Corporation, the provincial government’s independent fund of funds manager, has invested $5 million in Panache Ventures’ new Canadian seed fund. This investment comes after Panache Ventures recently closed up to $25 million in deals, and the company is keen to support more seed-stage startups across Canada. Panache Ventures is led by former startup…

Ontario creates VC fund initiative for life sciences sector

Ontario has announced a life sciences venture capital initiative to provide provincial firms with much-needed capital to grow their business. The Ontario Capital Growth Corporation (OCGC), the agency managing the province’s VC interests, is seeking fund managers who can leverage the province’s $50-million investment.

Funding from VCs up in 2017 – PwC/CB Insights report

Canadian venture capital investment, measured in US$, reached an all time high last year, according to the latest report by PwC Canada and CB Insights. Artificial intelligence and fintech firms were the most attractive for VC investors, who poured up to US$2.7 billion into 333 deals in 2017, up 7% from 2016. Average VC funding…

Mike Pedersen

The board of directors of the Business Development Bank of Canada (BDC) has a new chair, financial industry executive Mike Pedersen. Pedersen will succeed former chair Samuel Duboc and will hold a term of four years starting March 5, 2018. Robert Pitfield, a member of the board since May 2014, will be the interim chair…

VCs ink MOU with Bioindustrial Innovation Canada on co-investment prospects

Five venture capital firms have signed a Memorandum of Understanding (MOU) with Bioindustrial Innovation Canada (BIC) to explore investment opportunities. The five — ArcTern Ventures, Cycle Capital Management, Fraser Mackenzie Merchant Capital, GreenSky Capital of Canada, and Paris-based Sofinnova Partners – are looking into investments in the bioeconomy and clean technology. The MOU allows the…

Canadian VC investment strategy hurting VCs and Canadian innovation: Report

Innovation in Canada will be seriously compromised unless domestic venture capitalists start throwing  big bucks into Canadian firms, suggests a new report. Big funding is one of the secrets of success of US firms, whether in Silicon Valley, or in other technology hubs in the rest of the US. In contrast, it is a challenge to get large funding tranches from Canadian VCs.