Montreal raised more venture capital dollars in 2017 than any other Canadian city

Feb 5 2018, 10:52 pm

Montreal is officially Canada’s leader in venture capital dollars.

According to a report released by PwC Canada and CB Insights, companies based in Montreal raised $800 million USD in venture capital (VC) in 2017. This is more than any other Canadian city.

Montreal’s venture capitalist investments in 2017 saw a 64% increase from the previous year.

The two biggest of 2017 VC investments in Canada involved Montreal companies. Cloud-based point-of-sale software company Lightspeed raised $166-million USD in October and Element AI raised $102-million USD in June.

“2017 was another record year. Investment in Canada’s technology sector surpassed itself once again with a total of $2.7B. Average deal size increased from $8.3M to $10.9M – a rise of 31% from 2016 – clearly shows consistent and sustained growth,” said Chris Dulny, National Technology Industry Leader, PwC Canada, in a release.

“With a deep talent pool and a growing technology sector, Canada is just getting started when it comes to attracting capital.”

Canada’s top VC cities in 2017

  1. Montreal – 63 deals, $800 million
  2. Toronto –  115 deals, $779 million,
  3. Vancouver – 51 deals, $372 million,
  4. Waterloo – 16 deals, $181.9 million
  5. Ottawa – 20 deals, $79 million
See also
DH Montreal StaffDH Montreal Staff

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