Andrew Willis writes in a recent Globe on the relative success US VCs are having getting deals in Canada:

Domestic venture capital funds are being pushed aside by U.S. rivals, and risk missing out on big paydays as the pace of financing explodes at private Canadian companies.

May was a blockbuster month for venture capital, with the pace of investing hitting levels not seen since the height of the dot-com era five years ago. Toronto-based Fusion Capital Partners Inc., an investment dealer that specializes in this sector, noted in a report that 34 Canadian companies raised a total of $434-million last month, for an average financing of $12.7-million.

Paul Kedrosky follows it up.