VC Brushes Off Challenging Conditions
The Canadian venture capital (VC) market brushed off challenging conditions to end 2022 on a strong note, says data from KPMG in Canada. It shows that the year ended with 1,080 deals with more than US$10 billion invested. This was second only to 2021 which totaled $13 billion from 1,361 deals. For corporate venture capital-backed funding, the gap between 2022 and the record-breaking 2021 was narrower – just 15 per cent – with a total $5 billion across 230 deals. That’s more than three times higher than the $1.6 billion in 2020 when economies were shuttered during the global pandemic. There were 104 exits in 2022 valued at approximately $8 billion, well above that seen in prior years with the exception of 2021.