Venture capital funding for Waterloo Region companies has fallen from the record high of 2016, but is still higher than it was prior to that year.
That conclusion comes from the PwC MoneyTree report , which looks at venture capital funding across Canada.
According to the report, companies in the region closed 16 deals for a total of $182 million in 2017.
The biggest deal, by far, was the $100-million round of funding raised by eSentire. Dejero Labs scored two VC deals, raising $14 million at the start of the year and $25 million at the end, while Mirexus Biotechnologies and Auvik Networks each reported $12-million funding rounds.
The total of $182 million made Waterloo Region Canada’s fifth-biggest venture capital market in 2017.
The local number in 2016 spiked to $256 million, primarily due to Thalmic Labs raising $120 million in the biggest round of VC funding seen in the country that year.
Prior to 2016, the region’s companies received $159 million in venture capital money in 2015, $149 million in 2014 and $74 million in 2013.
The PwC report says venture capitalists will likely have a heavy focus on artificial intelligence and financial technology companies over the coming year.
