PRINT THIS PAGE Canadian Q2 venture investment activity up 48 per cent on year18/08/2004. Source: AltAssets. 
 Canadian venture capital investment activity rose 48 per cent in the second quarter compared with the same period of 2003 signalling a continuation to the recovery first evidenced in the first quarter, according to the Canadian Venture Capital Association.
The CVCA said CA$375m was invested in the second quarter of this year compared with CA$274m in the same period of 2003.
'This continued upturn in investment activity is encouraging. These second quarter numbers build upon the positive results of the first quarter and provide grounds for optimism for the remainder of 2004,' said Dr Robin Louis, president of the CVCA.
The IT sector accounted for 54 per cent of all investment, compared with 40 per cent in the first quarter. There was also an increase in non-tech investment tp 29 per cent from 18 per cent in the whole of 2003.
There was an increase in the amount of capital raised by venture funds in the second quarter to CA$317m from CA$162m in the same period of 2003. The CVCA cautioned, however, that the total was below the level of investment, which could be a threat to long-term investment activity.
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