Investment climbs in B.C.

A report shows that investment activity in B.C. rose by 71 per cent in the second quarter

A new study indicates that B.C. is outpacing the rest of Canada in attracting investment.

A report prepared for the Canadian Venture Capital and Private Equity Association shows that investment activity in B.C. rose by 71 per cent in the second quarter of 2012 compared with 2011.

This represents the largest investment gain in the country, with B.C. attracting more than 20 per cent of all of the venture capital invested in Canada.

“This report speaks to the great confidence that investors currently have in B.C.,” said Pat Bell, the province’s jobs minister.

The report also shows the largest deal made in Canada during the second quarter happened in B.C., with D-Wave attracting a $35.9-million investment.

Vancouver is currently the second-largest economic centre in Canada to receive venture-capital investment. (Toronto is the first largest.)

As one of the B.C. government’s investment-attraction initiatives, the B.C. Renaissance Capital Fund has worked to attract more than $159 million in new investment since its inception in 2007. The companies receiving that investment have created 968 full-time jobs.

The Canadian Venture Capital and Private Equity Association study was conducted by Thomson Reuters.