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Canadian VC climbs to 18-year high in 2018 as top deals raise $1.4 blnCanada’s venture capital market broke records in 2018, its ninth straight year of growth. The milestones included the most financings sized $100 million or more – ever. That made the market’s top 10 VC financings especially cash-intensive. In all, they drew $1.4 billion from investors, up 17 percent from the $1.2 billion raised by the top 10 deals in 2017. The number is based on PE Hub Canada’s list of the largest financings announced in 2018, supplemented by preliminary data from Refinitiv. It points to the considerable influence of late-stage rounds in technology investment activity, which reached a total of $4.3 billion last year, a nearly two-decade high.
Freshly funded Clearbanc lands $67 mln more from Upper90Clearbanc, a Toronto-based provider of marketing capital for e-commerce brands, has raised about $67 million (US$50 million) in follow-on financing. The investment was made by Upper90, the fund of Grubhub Co-founder Jason Finger. It comes on the heels of Clearbanc's initial financing /canada/2018/11/e-commerce-marketing-funder-clearbanc-raises-92-mln-in-vc/ of about $94 million (US$70 million) last month, backed by 12 Canadian and U.S. venture capital firms. Founded in 2015 by CEO Andrew D’Souza and President Michele Romanow, Clearbanc reports more than 1,000 companies have approached it in the past four weeks, representing capital demand of up to $1 billion. Deploying over $100 million this year, Clearbanc plans to launch new products, secure new partnerships, and expand globally in 2019.