Canada’s venture capital firms posted strong growth in small business financing in 2011, with 34% more money going to 24% more firms than the year before, the Canadian Venture Capital & Private Equity Association said Tuesday.
According to data compiled by Thomson Reuters, Canada’s venture capital firms invested $1.5-billion in 444 companies last year, the association said.
But Canada’s VC spending boom also faces an abrupt conclusion. The amount of money raised by Canadian VC firms in 2011 remained at about the $1-billion level achieved in 2010, suggesting the positive figures represent a lull in Canada’s otherwise ongoing startup financing crisis.
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