New Brunswick Startups Raise Nearly $70-Million In Funding In 2018
Any time an economic metric more than quadruples in one year, you have to figure it was a pretty good year. So, 2018 was definitely a good period for funding by New Brunswick startups.
Though all the funding from last year has yet to be announced, the deals that are already public amount to about $69 million in 2018. This compares with the Canadian Venture Capital and Private Equity Association’s finding that New Brunswick companies raised $16 million in 2017.
Admittedly, 2017 was a weak year for funding in the province, but the amount of equity capital raised in 2018 was off the charts. Maybe this puts it in perspective: the whole Atlantic Canadian startup community raised about $72 million in 2016, and that was a record year for funding across the whole region at the time.
The big reason for last year’s boom in New Brunswick funding was the three big deals that accounted for about four-fifths of the total funding.
Read more about this story in Entrevestor.