BCBusiness
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.
The BCBusiness editorial team lives for big ideas, bold entrepreneurs and the business stories that make B.C. tick.
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