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Deloitte: Tax Laws Creating Crisis in Canada's Venture Capital Industry by Posing Barrier to Badly Needed Global Funding
Posted in Financing
"Although Canada remains one of the top three targets for increased U.S. venture capital (VC) investment globally, a global VC survey reveals that 40% of U.S. respondents and 28% of global respondents cite Canada's unfavourable tax environment as a key reason for not investing in Canadian companies. This level of concern is five times higher than for any other country in the survey and reflects the current investment crisis within Canada's venture capital industry.
The Global Trends in Venture Capital 2007 Survey is sponsored by Deloitte, in cooperation with the Canadian Venture Capital Association (CVCA) and numerous other VC associations internationally. Specifically, the survey measures the degree to which 528 VCs from around the world are expanding their investment strategies, and was conducted in the Americas, Asia Pacific, Europe, the Middle East and Africa.
Fixing Canada's "broken VC ecosystem" a priority of government and industry ..."
Full article available at Marketwire.com, published December 5, 2007.