Venture capital investment in Atlantic Canada was already weakening before the COVID-19 crisis sent shockwaves through the economy, new data from the Canadian Venture Capital and Private Equity Association shows.
In fact, if you consider the funding announcements of the past two months, it’s a safe bet that Atlantic Canadian VC funding will be larger in the second quarter – when the shutdown was in full force – than the first.
The CVCA released its first quarter funding data on Wednesday, showing that Atlantic Canadian startups raised a mere $6 million on 14 rounds of funding in the three