May 19, 2020

Q1 2018 sees record high venture capital funding in Canada

CB Insights
venture capital
zaymalz malz
2 min
Q1 2018 sees record high venture capital funding in Canada

According to the latest MoneyTree report from PwC Canada and CB Insights, venture capital investments in Canadian firms increased 52% to more than $1bn across 105 deals in Q1 2018, reaching a new record high.

The $1.28bn recorded is the highest level of investment in Canada for any quarter since the MoneyTree report began in 2012, ahead of the second highest quarter, Q3 2015, that saw $997mn raised across 64 deals.

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“With a record $1 billion in VC financing, Q1 sets a high bar and shows that 2018 is off to a great start,” said Chris Dulny, National Technology Industry Leader, PwC Canada. “Canada continues to be an innovative and attractive market when it comes to financing and it is set to continue.”

Investments in Canadian AI companies rose as much as 88% to $83mn across eight deals for the three-month period ended 31 March, whilst funding to healthcare companies rose 66% to $126mn.

“Canadian AI and digital health companies keep drawing attention as they received significant investment, helping contribute to this record quarter,” said Anand Sanwal, Co-Founder and CEO of CB Insights. “It'll be interesting to see if this quarter's momentum in those noteworthy sectors continues.”

Meanwhile, funding to fintech companies declined 60%, with $88mn having been invested across eight deals.

For more information, see the full PwC/ CB Insights Moneytree report.

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