VC in BC: 24 deals worth $175M in Q1

👋 Good morning, and welcome to (or welcome back to) VTJ’s Sunday Briefing: your weekly digest of the city’s innovation news, deals, insights, and more.

The Canadian Venture Capital & Private Equity Association released Q1 VC numbers last week and the story they tell is telling: “In Q12024, VC investments totaled CAD $1.3B across 128 deals, matching the investment levels of Q12023, but experiencing a 28% decline in the number of deals, marking the lowest volume since 2021.” However, average deal size is up significantly to $10M. That’s an increase of 47% from Q12023. The trend? Prioritizing quality over quantity.

B.C. had 24 deals with a total dollar value of $175 million. More specifically, Vancouver led in the province, with $72M invested in 18 deals. Visit CVCA’s website for the full report.

Now onto today’s briefing.

-Emily