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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 in Q3 up on quarter and year14/11/2007. Source: AltAssets. 
The capital invested by funds into Canadian businesses increased in the third quarter of 2007 on both a year-on-year and quarter-on-quarter basis, according to the CVCA and Thomson Financial. A total of CAN$512m was disbursed across the country, up 17 per cent from the CAN$438m invested in the prior quarter, and up 47 per cent from the CAN$347m disbursed in Q3 2006.
The Q3 figures were significantly impacted by the CAN$100m financing of OANDA Corporation and the CAN$40m financing of Enobia Pharma.
'The growth in venture capital investment is being driven by an increasing focus on Canadian transactions by US venture firms,' noted Rick Nathan, CVCA president and managing director of Kensington Capital Partners, 'US investor interest in Canadian companies has grown dramatically in the past few years and is now at record levels, representing a majority of all venture funding in Ontario.'
To date in 2007, US and other foreign funds have invested CAN$640m in Canadian companies, representing 41 per cent of total capital invested. During Q3, US venture firms invested CAN$213m in Canada.
Copyright © 2007 AltAssets
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