As of December 31, 2006, Venture capitalists invested $1.693 billion in 404 firms across Canada in the past year. More funds were invested in follow-on financing in venture-backed companies than new deals in start-ups. Ontario accounted for 41% of the annual venture capital disbursement in Canada.
American VCs and other foreign investors were responsible for 32% ($549 million) of the venture capital invested in Canada. In Ontario, American VCs and other foreign investors invested $244 million, or almost 36% of the $686 million that the province received in venture capital investments.
