There is a general sense in the tech community that it’s difficult to raise money in Canada, but as a new infographic from Ottawa-based Software-as-a-Service (SaaS) venture capital (VC) fund L-Spark illustrates, this isn’t quite true.
In fact, according to the company’s research, sourced from the Canadian Venture Capital & Private Equity Association (CVCA), Canadian VCs invested more than $2 billion in homegrown SaaS startups last year.
“Yes, there is more money in the U.S. Yes, companies are raising at higher valuations,” L-Spark digital content manager Lucy Screnci wrote in an April 3 blog post. “But let’s not sell ourselves short on the ecosystem that exists in our own backyard.”
The infographic includes both a series of circles indicating the companies investing in Canadian SaaS and their share of the overall pie, and a map indicating which provinces have received their investments. Check it out below (click for a larger version).
You can also find a list of VCs, with links, on L-Spark’s website.