The federal budget is expected to include several measures aimed at improving the performance of the so-called innovation economy
The VC industry hopes the federal budget will preserve a program designed to boost investment, yet argues VC firms already up and running struggle to reach the next level due to lack of capital
There was $3.2 billion in total venture capital investments in 2016, up by 41% from 2015 and reaching their highest level since 2001, according to a new report from the CVCA
Canadian companies wait longer before they start raising funds, they raise less money less often and they raise less money, a new report finds
However, buyout and related private equity activity saw significant declines both in terms of deal volume and value last year
The government is hoping to attract 1.5 times its investment in the new, clean technology fund from other private sector investors
The total number of deals rose by 7% while total investments dropped by 0.3% in Canada while, globally, total deals dropped by 10% and total dollars invested dropped by 23%
Portag3 Ventures LP, another VC fund, is one of the backers in the project and Paul Desmarais III of Power Financial serves as both VC funds’ chairman
Thanks to the program’s success, the VC industry is calling on the federal government to include a second VCAP program in the 2017 federal budget
However, overall, global VC activity was challenged in 2016 with the number of deals declining by 24% funding decreasing by more than 9% year-over-year