Canadian VC activity increases in Q3

New industry statistics released November 10 suggest that the worst may be over for Canada’s beleaguered investment community. Data released by Macdonald & Associates and the recently re-named Canada’s Venture Capital & Private Equity Association (CVCA) show that venture capital activity rose to $361 million in Q3 2003, up from the $238 million disbursed in Q2. The numbers still fall short of 2002 activity when $563 million was invested in Q3. While the number of companies receiving financing in this year’s third quarter hasn’t changed significantly (191), the number of large deals has decreased, with investment rounds over $20 million accounting for only $28 million in investment compared to $128 million in last year’s corresponding quarter….