Re­port shows Mon­treal lead­ing in ven­ture-cap­i­tal fi­nanc­ing


Mon­treal-based com­pa­nies raised US$399 mil­lion in ven­ture cap­i­tal during the first quar­ter of 2018 — more than com­pa­nies in any other Cana­dian city — ac­cord­ing to a re­port re­leased by PwC Canada and mar­ket re­search com­pany CB In­sights on Wed­nes­day.

This is the sec­ond quar­ter in a row where Mon­treal firms have raised more ven­ture cap­i­tal than busi­nesses in any other Cana­dian city.

“It def­i­nitely shows that the qual­ity of en­trepreneurs that we have here in Mon­treal and Que­bec is ex­cep­tional,” said Chris­tine Pouliot, a part­ner in PwC’s deals prac­tice.

The amount of money in­vested in Mon­treal com­pa­nies during the quar­ter was up 96 per cent from the pre­vi­ous quar­ter, when $204 mil­lion was in­vested in lo­cal com­pa­nies. It’s the most money raised by Mon­treal-based com­pa­nies in a sin­gle quar­ter since PwC be­gan re­leas­ing the quar­terly re­ports on VC ac­tiv­ity in 2012.

“The Mon­treal tech ecosys­tem is def­i­nitely ma­tur­ing,” Pouliot said.

The size of the in­vest­ments in Mon­treal-based com­pa­nies has risen over the past three or four years, the re­sult of in­di­vid­ual com­pa­nies see­ing suc­cess and at­tract­ing larger in­vest­ments, she said, and lo­cal en­trepreneurs that have built suc­cess­ful com­pa­nies are also now in­vest­ing in new busi­nesses.

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