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AltAssets is the private equity news and research service from Almeida Capital
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PRINT THIS PAGE Canadian venture capital investment declines in second quarter15/08/2007. Source: AltAssets. 
A total of CAN$426m in venture capital was invested across Canada during the second quarter of 2007, representing a decline of approximately 30 per cent from the CAN$606m invested in the first quarter, and a 12 per cent drop from Q2 2006, according to a quarterly report released by Canada's Venture Capital & Private Equity Association and Thomson Financial.
However, due to the strong performance in the first quarter, total venture capital investment of just over CAN$1bn through the first half of 2007 was up 21 per cent over the CAN$853m invested during the same period last year.
Rick Nathan, CVCA president and managing director of Kensington Capital Partners said, 'While the totals show a reasonable level of investment activity nationwide, they mask a significant shift in our regional markets.
'Venture capital investment has declined dramatically in Ontario, which recorded its weakest quarterly period in recent memory,' Nathan continued.
During the second quarter, Quebec led all other provinces in the amount of venture capital investment received. Total venture capital investment in Ontario dropped more than 55 per cent below the levels of a relatively strong first quarter performance, against a backdrop of generally stable activity levels in the broader North American market.
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