BC Tech Financings Had a Monster Year in 2013
BCTIA has reviewed the numbers and the story reveals that 2013 was a banner year for BC Tech. BC was not only home to Godzilla’s filming, but it was a monster year for tech financings in the province.
In the fall of last year it reported that BC was on track for a billion dollar year. At that time, the results (while preliminary) showed private financings (led by Hootsuite’s massive $165MM series B round) and a healthy resurgence in IPOs and public financings was catapulting BC to the top performing region in the country.
As it turns out, the trend continued to play out through the rest of the year. Tech was the leading sector on the TMX (both TSX and TSX.V) in 2013.
BC performed well in terms of public financings in technology and cleantech with 26.9 percent and 19.5 percent shares, respectively. In the life sciences sector, a massive $2.4 billion secondary offering from Valeant Pharmaceuticals in Quebec skewed the numbers substantially. In total, over $680 million was raised in 2013.