Toronto’s venture capital scene is booming, finds a new report, with Q2 2024 investments hitting $2.47 billion, a 76% increase from Q1’s $1.40 billion. Ontario led the charge provincially, capturing $2.10 billion, or 54%, of the national total, with strong regional showings from Vancouver in B.C., Calgary in Alberta, and Montreal in Quebec.
Diving deeper, U.S. investors played a significant role, contributing $2.15 billion, or 55%, of the funds. The Canadian government’s continued backing was also observed to be a crucial factor, outpacing private VC investments by a striking $458 million.
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