Montreal VC-land is booming
Closing a bunch of deals in the same city is always a tell-tale sign (we did two in January alone), but ours is not the only firm that has found Montreal to be booming of late.
According to one very senior Quebec-based LP, about $1 billion of new funding has been dedicated to tech VC funds in Quebec during the past 24 months. Names that spring to mind include Garage, MSBi, Propulsion, Rho, etc.
I give a lot of credit to the Fonds FTQ (Jaques Bernier) and CDP for pulling together and making this happen. These figures swamp the VC capital that has been raised in Ontario during the same time frame. Absolutely swamp.
And who was it that said the abolition of the Ontario Labour Fund Sponsored universe would open up the taps for traditional tech VC funding in the province?
Hats off the folks in Montreal and Quebec City, both LPs and the provincial government. It is a lesson for the rest of the nation.