B.C.’s billion-dollar investment drop

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B.C.’s billion-dollar drop: The Canadian Venture Capital & Private Equity Association (CVCA) released investment data for the first half of 2022. Canada-wide, the second quarter of 2022 saw $1.65B invested across 182 deals, concluding the first half of the year (H1) with $6.2B invested across 371 deals in total.

B.C. took in $807M over 58 deals in H1 — down from $1.83B and 66 deals in the same period last year. Q2 in the province saw $321M invested across 31 deals, a 15% boost in activity, but a 34% drop in dollars invested. The largest investment in the province went to Certn, a Victoria-based company that specializes in background checks.

In her ‘Message from the CEO’, CVCA head Kim Furlong wrote of the report, “There’s a lot to unpack with the H1 2022 venture capital data.” It’s perhaps an understatement. So, next week, we’re going to tap into our network of experts to help you understand what the numbers actually mean, and which ones even matter. Stay tuned.

Now, onto your daily briefing.

“Working with your friends makes your day-to-day job much more fun.” — How (and why) to get a job at UrbanLogiq

Editor’s pick: Co-founder and CEO Mark Masongsong talks about the origins of the company, the mission all staff share, and team retreats. » Start reading.

Funding and deals:

• TerraZero Technologies has partnered with VentureBeat, a tech, gaming and AI media and event company, to build a metaverse event center in Decentraland. » Martech Series.

In other news:

• NFT creator Dapper Labs launched an advertisement for its NFL collaboration featuring superstar NFL player Patrick Mahomes. » Adweek.

• Rohe Homes, which develops a pre-fabricated house, unveiled its first model in Sechelt on the Sunshine Coast. » Coast Reporter.

• Students from SFU’s first cohort from the School of Sustainable Energy Engineering, CityStudio Vancouver and the City of Vancouver are working together to electrify the Stanley Park Train. » Continue.

• Floorspace shared a list of notable office leases including moves from Microsoft, digital studio WillowTree, and Lululemon. » Floorspace.

Ideas and insights:

• Tessa Seager, B.C. director of government affairs for the Council of Canadian Innovators, writing in the Vancouver Sun: Premier Horgan’s legacy in the tech sector largely dependent on actions of his successor

• Greg Smith, CEO of Thinkific, writing on Twitter about finding the right balance between micromanaging and absentee leadership

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Until Sunday!