B.C. dominates Canadian VC funding in Q1

By Staff | May 25, 2021 | Last updated on May 25, 2021
1 min read
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British Columbia received the lion’s share of Canadian venture capital (VC) financing in the first quarter, according to a report from CPE Analytics.

CPE reported that Canadians VC financings raised a total of $2.78 billion through 192 deals in Q1, led by companies in B.C., which raised a total of $1.2 billion through 57 deals.

Vancouver’s Dapper Labs completed the largest Canadian VC deal of all time, raising $304.4 million in the quarter.

B.C.-based information and communications technology companies raised a total of $453 million, while biotech and life sciences companies in the province raised $424 million.

The majority of VC investment in Canada came from the U.S., which contributed $1.5 billion (54%) of total funding in the quarter.

All regions raised more than half of their capital from the U.S. and foreign investors, with the exception of the Prairies, which raised 42% of its capital from outside Canada.

Vancouver was the only city that raised more than $1 billion in the quarter. The other top fundraising cities were Toronto, Montreal, Quebec City, Calgary, Burnaby, B.C., Halifax, Winnipeg, Kitchener, Ont., Surrey, B.C., and Victoria.

Advisor.ca staff

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.