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Canadian Venture Capital Investments Surpass $2 Billion Mark in Q3; Largest Quarter in History
Thursday, November 21, 2019
Q3 Venture Capital Surpasses CAD $2B Mark; Largest Quarter On Record
2019 YTD VC investment reaches CAD $4.7B driven by record-breaking number of mega-deals
Toronto, ON, November 21, 2019--(T-Net)--A stunning CAD $2.4 billion was invested in venture capital deals in Q3 — the highest amount since 2013 and almost 80% higher than the CAD $1.3B in the second quarter of 2019.
A record-breaking increase in mega-deals ($50M+) drove the investment performance so far in 2019.
There were 12 mega-deals in Q3, bringing the YTD total to 23, accounting for more than half of all dollars invested.
Of the 23 mega-deals, nine deals exceeded CAD $100M and three surpassed CAD $200M which included:
"In the past nine months, Canadian venture capital investment has surpassed all previous milestones," said Kim Furlong, Chief Executive Officer, Canadian Venture Capital and Private Equity Association. "The focus on growing Canadian companies has never been more evident than what we are currently seeing in the market."
So far this year, the top three sectors receiving VC dollars information and communications technology (ICT) taking 66% of total VC dollars invested (CAD $3.1B over 223 deals), followed by life sciences receiving a 19% share (CAD $886M over 77 deals) and cleantech companies taking a 6% portion (CAD $262M over 23 deals).
VC-backed exits are tracking towards exceeding 2018's performance (35 exits totalling CAD $978M).
So far in 2019, there have been 32 completed exits totalling CAD $3B which included two VC-backed Montreal-based companies:
DOWNLOAD THE Q3 2019 YTD CANADIAN VENTURE CAPITAL MARKET OVERVIEW REPORT HERE
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