OMERS survey finds dealflow rose or held steady during COVID-19 for most Canadian VCs
One year into the pandemic, research suggests that for the majority of Canadian venture capital (VC) firms deal activity has increased or remained relatively consistent, according to a recent survey conducted by OMERS Ventures.
In January, OMERS Ventures, the tech-focused investment arm of OMERS, one of Canada’s largest pension funds, surveyed 99 VC firms across North America and Europe, 24 percent of which were Canadian.
Given that the pandemic is likely going to have a lasting impact on the way that VCs evaluate companies for investment, OMERS said it decided to share its findings to help the community adapt. The new report, which was released today, follows OMERS’ July 2020 survey and aims to illustrate how VC behaviour and activity have changed due to COVID-19.
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Bold Commerce raises $35 million CAD Series B backed by OMERS
Once known only as Shopify’s largest app developer, Winnipeg-based Bold Commerce is hoping a $35 million CAD ($27 million USD) Series B round will help it become the platform to power commerce anywhere and everywhere.
OMERS Ventures led the all-equity round, which saw participation from past investors Whitecap Venture Partners and Round 13 Capital (history does rhyme: OMERS once led Shopify’s Series C round). Bold’s last round, a $22 million Series A in 2019, was also its first – the company had chosen to bootstrap its development since its founding in 2012.
In a recent interview with BetaKit, Bold Commerce CEO and co-founder Yvan Boisjoli claimed Whitecap and Round 13’s decision to follow-on showed “a lot of trust and faith” in the startup.