Total investment for the year came to $1.5 billion, up 34% to a four-year high, according to a study from the Canadian Venture Capital & Private Equity Association and Thomson Reuters, publisher of this blog. Money went to 444 Canadian firms, a 24% increase from 2010.
In 2007, VCs dispersed $2.1 billion.
A substantial 71% of money went to late stage companies, the survey found. That was up from 59% in 2010. Early stage investment dollars were down 5%.
The Canadian market, like the US market, favors technology. Forty-six percent of the total commitments went to tech startups, with Internet and software companies leading the pack. Life sciences investments make up 23% of the total.
The market is being held back by fundraising. Firms raised $1 billion, up only 2%. Fourth quarter fundraising fell 15% from the same quarter a year ago.