Today's News |
BC Tech Companies Raise Over $1.0 Billion in Financing in 2018, 10 Largest Deals Bring Home Over $840 Million
Wednesday, January 2, 2019
Long time tech anchor company and fuel cell pioneer Ballard Power Systems brings home the largest financing and 'Deal of the Year" in 2018 - closing a major $163 million strategic investment by Weichai Power
Vancouver, BC, January 2, 2019--(T-Net)--2018 was another big year for financings in the BC tech industry (both private equity investments and larger public financings).
According to our records, T-Net alone reported on over 230 financing deals representing over $1.0 billion in capital raised in fiscal 2018.
A number of tech companies did not include the actual amount of their financing raised (so are not included in these totals), and we are sure there are also (many) other BC tech related companies out there that may have closed new financing rounds in 2018 that we are just not aware of (or which have not been reported or submitted to us), so the total number of funding deals, and the amounts raised in the BC tech industry may actually be much higher than this.
2018 continued to be among the busiest financing years we've seen in recent BC tech industry history (following on very strong financing environments in 2016 and 2017).
Below is our (quick and dirty NYE version) of the "unofficial" list of the top 10 largest financings for BC tech companies that we reported on in 2018.
(if we have missed anyone in this list, please email us at technews@bctechnology.com and we will update)
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1. DEAL OF THE YEAR: Ballard Signs Historic $163 Million Strategic Collaboration and Investment Deal With Weichai Power, Advancing China Strategy Randall MacEwen, President and Chief Executive Officer |
Burnaby, BC, August 30, 2018--Ballard Power Systems announced it entered into a strategic collaboration with Weichai Power Co., which included a substantial equity investment by Weichai in Ballard of approximately $163M, establishment of a joint venture to support China's burgeoning Fuel Cell Electric Vehicle market, a $90 million technology transfer program, and a commitment by Weichai to build and supply at least 2,000 fuel cell modules for commercial vehicles in China. |
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2. Vancouver-based Zymeworks Closes (US) $97.8 Million Public Offering ($133 Million CDN) Ali Tehrani, Ali Tehrani, President & Chief Executive Officer, Zymeworks (Credit: UBC Microbiology) |
Vancouver, BC, June 12, 2018--Zymeworks Inc. (NYSE/TSX: ZYME), a clinical-stage biopharmaceutical company dedicated to the discovery, development and commercialization of next-generation multifunctional biotherapeutics, announced that it has closed its previously announced underwritten public offering of approximately $133 million CDN. |
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Olivier Roussy Newton, Founder, Director and Interim President | ||||||||||||
Vancouver, BC, January 5, 2018--HIVE Blockchain Technologies Ltd.(TSX.V:HIVE), a Vancouver, BC-based publicly listed blockchain infrastructure company, announced that it has closed the final C$65 million tranche of its previously announced private placement of up to C$115 million. -------------------------------------------------------------------------------------------
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About T-Net
Our purpose is to provide information and business services to technology companies, industry suppliers and individuals within the BC technology industry which helps them achieve their full potential and strengthens the overall technology community.
T-Net operates the leading "portal" web site for the high tech industry in BC. T-Net currently receives over 14.0 million "hits" and over 450,000 website visitors each month.
Our customer base includes over 500 of BC's largest and fastest growing technology companies and many of BC's leading industry suppliers.
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