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The last few years of the venture capital (VC) ecosystem were defined by explosive growth and record VC fundraising.

As we start a new year, our Emerging Companies and VC Practice outlines three predictions for key developments in the Canadian VC environment in 2020. First, we expect to see a renewed focus by companies on strong corporate governance to temper headline risk. We also predict that debt will increase as a percentage of venture financials. Lastly, our practice group expects the excitement surrounding direct listings in the U.S. will not likely be replicated in Canada.