Canadian, U.S. Venture Capital Fund Sets Its Sights On Canada's Information Technology Sector
There's been resurgence in the Canadian IT sector's private equity market.
According to Canada's Venture Capital and Private Equity Association, venture capital invested across the sector in 2011 totalled $1.5 billion, the highest since the recession began in 2008. Although this figure was still short of the $2.1 billion in venture capital investments in 2007, it's an early indicator that things could be looking up for startup ventures in Canada, and in no sector was this more true than information technology.
Indeed, since 2010 there have been many signs of positive things to come in Canada's IT industries. For one, the Canadian government has zeroed in on technological innovation as a central element of its plan for economic recovery and long-term stability. Many expect that the Canadian government will look to subsidize or in some way drive technological innovation in its 2012 budget.