PwC MoneyTree report: AI "gold rush" might save a sluggish 2017 in VC deals

According to CB Insights and PwC's Canada's latest MoneyTree report, 2017 is off to a slow start for VC funding in Canada. The report looks at VC activity in Q2 and provides perspective on the first half of this year overall (all dollar amounts in the MoneyTree Canada report are in USD, and have been converted to CAD throughout this article). Canadian VC-backed companies saw $504 million ($400 million USD) in total financing across 58 deals in Q2 2017, down 18 and 16 percent from Q1 2017, respectively. In Q1 2017, Canadian VCs invested $623 million ($460 million USD) in 64 deals. Activity has also slipped since hitting a high in Q4 2016, when deal activity for VC-backed companies hit 91 deals.