Canadian venture capital investment hits record level in first quarter

, Bitcoin Tips

The value of venture capital investments in Canada made in Q1 surged to $838 million, nearly double the amount recorded during the same period last year.

Venture capital surged to a new record in the first quarter while private equity investment contracted modestly on the back of declining oil and gas activity, a new report from the Canadian Venture Capital and Private Equity Association says.

The value of venture capital investments made in Q1 surged to $838 million, nearly double the amount recorded during the same period last year. Growth was driven by large deals in British Columbia and Ontario, plus the $58 million investment made in Manitoba firm, Farmer’s Edge. That deal involved a group of companies led by Japan’s Mitsui & Co.

The CVCA said that it expects the frenzied pace of the first quarter to continue this year.

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