Venture Capital Investments Down, Even Before Covid-19 Crisis
Venture capital investment in Atlantic Canada was already weakening before the Covid-19 crisis sent shockwaves through the economy, new data from the Canadian Venture Capital and Private Equity Association shows.
In fact, if you consider the funding announcements of the past two months, it’s a safe bet that Atlantic Canadian VC funding will be larger in the second quarter – when the shutdown was in full force – than the first.
The CVCA released its first-quarter funding data on Wednesday, showing that Atlantic Canadian startups raised a mere $6-million on 14 rounds of funding in the three months ended March 31. By contrast, the region’s startups raised $22.4-million in the first quarter of 2019.
The national association for VC and private equity investment said that Canada overall reported $831 million in funding over 117 deals –7 percent lower than the $897-million invested in the first quarter of 2019.
Read the rest of this story at Entrevestor.