BC Business
The Canadian Venture Capital and Private Equity Association's year-end report for 2017 shows more of what we already know: the number and value of new financings in B.C. is down somewhat from recent years. The province accounted for 91 deals out of 592 nationally, worth $646 million (out of $3.5 billion countrywide).
The Canadian Venture Capital and Private Equity Association’s year-end report for 2017 shows more of what we already know: the number and value of new financings in B.C. is down somewhat from recent years. The province accounted for 91 deals out of 592 nationally, worth $646 million (out of $3.5 billion countrywide). Quebec’s tech sector, by contrast, had a banner year 2017 with 180 deals totalling $1.3 billion.
It’s not all bad news. West Coast companies figured prominently higher up the food chain, with some lucrative exits: the $301-million acquisition of Tio Networks by Paypal, Zymeworks’ $87-million IPO and Vision Critical’s secondary sale for $76 million. Let’s hope some of the founders who cashed out will help seed promising new startups with the proceeds.