A report from the Canadian Venture Capital & Private Equity Association (CVCA) shows that there was a surge in venture capital activity in the second quarter of 2015, up 53% over the amount recorded during the first three months of the year.

Over the first six months of 2015, CVCA says that 244 venture capital deals were completed, worth a total of $939 million; this represents an increase of 21% and 23% respectively compared to the same period in 2015.

Measured by sector, life sciences led the way with 39 deals and $303 million of investments, followed by clean technology with 25 deals and $56 million invested, and then agribusiness with 11 deals and $14 million invested. Most venture capital deals took place in Ontario, Quebec, and British Columbia. CVCA points out that disbursements nearly tripled in Quebec thanks in part to to large life sciences investments involving Clementia Pharmaceuticals ($73.9 million) and Milestone Pharma ($20.9 million).

"A refreshed approach to venture capital in Canada, combined with recent successes and rising stars are creating a lot of market momentum," comments CVCA CEO Mike Woollatt. "Private investment is leveraging public investment very well and they are working together to generate robust growth."