VC stats for Q3
Here is a quick look at the July-September figures for Canadian-based venture capital deals:
National figures:
$299.8 million disbursed ($383MM announced) to 51 companies, including a single US$100 million 2nd round investment for online currency trading site OANDA. The $100 million was put up by an entirely non-Canadian investor group consisting of Cascade Investments Group, Legg Mason, Inc., New Enterprise Associates (lead) and T. Rowe Price Associates. Index Ventures invested $17 million in 2005. OANDA was founded in 1996. 15 of the 51 transactions didn’t disclose deal sizes, which is a higher percentage than normal. The stats might get more detailed over the next couple of weeks as folks send in their details. Naturally, we backed out the venture debt deals and will include them in the venture debt/sub debt/mezz debt figures.
The $299 million Q3 figure compares well, if only on a topline dollar basis (see prior post “Brutal venture capital stats for H1 2007“, August 1-07), to the Q2 figure of $239.7 million disbursed to 61 different firms. There were, however, about 15% fewer transactions. Naturally, if you back out the whopping OANDA deal, the Q3 dollar figure drops to about $200 million.
I’ll follow-up with the provincial splits later, but the theme, at least in Ontario, hasn’t changed (see post “Ontario politicians asked to address deteriorating VC climate“, October 1-07).
MRM
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