OTTAWA -- Canada’s venture capital market fell again in 2009 to its lowest level in 13 years, according to statistics released Wednesday by Canada’s Venture Capital & Private Equity Association and research partner Thomson Reuters.
Deal activity fell 27% to $1-billion over the year, from $1.4-billion in 2008, as did the number of VC-backed entrepreneurial firms, which fell to 331 from 388 the year before, the group said.
“The nationwide statistics demonstrate the lack of capital in the venture capital industry,” said Gregory Smith, president of the association.
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Author: John Morrissy
