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Canadian VC flows hit $804 mln in Q1, second strongest in 16 yearsVenture capital investment in Canadian technology startups continued at a strong pace in the first quarter, with a total of $804 million invested in 115 financing rounds, according to final data released by Thomson Reuters. While in dollar terms these results mark a year-over-year decline of 10 percent, Q1 2017 was the second most active first quarter in the domestic market since 2001. The number of deals done was reduced more considerably, or 27 percent below the volume reported in Q1 2016. Fundraising activity was also slower between January and March, as seven Canadian venture capital funds accounted for only $169 million in commitments.
Accolade raises $235 mln for sixth fundWashington, DC-based Accolade Partners, a growth equity and venture firm, has closed its oversubscribed sixth fund at $235 million. Accolade VI's investors include endowments, foundations and families. The fund will focus on technology and healthcare.
- Blazek rejoins Cambridge Associates
Cambridge Associates has rehired Jeff Blazek as a managing director. Blazek will also serve as a chief investment officer in the pension practice. Blazek previously worked as a managing director in the firm's Dallas office from 2008 to 2014. Currently, he is based in New York City.
- BGV exits Grid Dynamics and Zentri
Benhamou Global Ventures has sold Grid Dynamics to Teamsun via its Hong Kong subsidiary Automated Systems Limited. Also, the early-stage venture firm has sold Zentri to Silicon Labs. No financial terms were disclosed for either transaction. Grid Dynamics is a provider of cloud solutions for the retail, finance and technology sectors while Zentri is a provider of cloud-connected Wi-Fi technologies for the internet of things.
- Prepare for a soft landing
Private equity fundraising can only go in one direction – down – but don’t expect it to drop off a cliff.
- Canadian VC market gets a boost in 2016
It reached new records in terms of funds raised and money invested that were not seen since the dot-com era.
Canadian PE deal-making slows in 2016 with $18 bln investedCanadian private equity deal-making declined for a second year in a row in 2016, with 303 deals (announced and closed) capturing $18 billion in total disclosed values, according to final data released by Thomson Reuters. Deal values were reduced by 19 percent from 2015, while volumes fell by 28 percent. Oil and gas and manufacturing industries accounted for most of the dollar flows last year, securing $5.2 billion and $3.7 billion, respectively. At the same time, Canadian buyout, private equity, infrastructure and other funds raised a substantial $45.4 billion in 2016, much of which went to funds managed by Brookfield Asset Management.
Canadian VC hits 15-year high in 2016 with $3.7 bln investedVenture capital investment in Canadian startups set an exceptionally strong pace in 2016, with a total of $3.7 billion invested in 571 financings, according to final data released by Thomson Reuters. Led by large-cap deals, including the US$225 million financing /canada/2016/12/bayer-versant-invest-225-mln-in-biotech-venture-reuters/ of BlueRock Therapeutics, dollars invested rose 36 percent from 2015 and reached a 15-year high. In contrast with dollar flows, the number of Canadian financing rounds in 2016 declined slightly (3 percent) year over year. Canadian venture capital fundraising also saw significant gains last year, with 26 funds raising $2.2 billion in total, representing an 81 percent increase over 2015 and a 13-year high.