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Top Canadian VC deals draw $522 mln in Q2 as focus shifts to early-stageCanada’s venture capital market sustained robust levels of activity in Q2, despite somewhat fewer dollars going into the largest financings. The top 10 second-quarter rounds secured $522 million from VC funds. That’s down 4 percent from the $542 million raised by the top 10 deals a year earlier, and down 16 percent from the $625 million that went to the top deals in Q2 2017. The estimate is based on PE Hub Canada’s list of the largest financings announced from April through June, supplemented by preliminary data from Refinitiv. It indicates some moderation in the influence of big late-stage rounds, which dominated Canadian VC trends last year.
Fund Performance: Summit, NEA and Oak HC/FT lead portfolio of LA PensionSummit Partners stands atop the venture portfolio with an IRR of 34.6 percent.
- NEA backs Magenta Medical
Magenta Medical, an Israeli developer of heart failure solutions, has raised an undisclosed amount of funding. New Enterprise Associates led the round.
- NEA backs Magenta Medical
Magenta Medical, an Israeli developer of heart failure solutions, has raised an undisclosed amount of funding. New Enterprise Associates led the round.
Side Letter: Houlihan veterans depart, CPPIB eyes TPG stakes, 17Capital targets €1.8bn for prefHoulihan Lokey and Blackstone departures; CPPIB targets TPG Growth II; and CalSTRS' "rollercoaster year". Here’s today's brief, for our valued subscribers only.
SCERS approves $20m commitmentThe US public pension has backed a North America and Asia focused fund.