Page | 1

Quarterly Trend

Page | 2

$134 $85

$23

$66 $30 $72

$168

$73 $61

$192

$231

$289

$54

15

30

2118 28 27

34

22

38

38

64

33

26

$-

$50

$100

$150

$200

$250

$300

$350

0

10

20

30

40

50

60

70

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1

Quarterly Quebec VC Activity$ Millions Invested # Deals

2013 2014 2015 2016

Activity by Province – Q1 2016

Page | 3

ON40%

QC22%

BC16%

Atlantic Canada

14%

SK/MB4% AB

4%

# SHARE

ON58%

BC25%

SK/MB8%

QC6%

Atlantic Canada

2%

AB1%

$ SHARE

Top Quebec VC Sectors – Q1 2016

Page | 4

ICT 58%Life Sciences27%

AgriBusiness8%

Clean Tech 4% Others 4%

# SHARE

1

1

2

7

15

0 2 4 6 8 10 12 14 16

Others

Clean Tech

AgriBusiness

Life Sciences

ICT

# DEALS

Top Quebec VC Sectors – Q1 2016

Page | 5

ICT 40%

Life Sciences39%

Clean Tech18%

AgriBusiness 2%

$ SHARE

$1

$10

$21

$22

$- $5 $10 $15 $20 $25

AgriBusiness

Clean Tech

Life Sciences

ICT

$ MILLIONS

Investments by Deal Type – Q1 2016

Page | 6

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2013 2014 2015 Q1 2016 2013 2014 2015 Q1 2016

Seed Early Stage Later Stage Other

# Deals $ Millions

Most Active Quebec Investors – Q1 2016

Page | 7

VC Firms # Total Deals $ Millions*

Real Ventures 9 10

BDC Capital Inc. 5 9

Fonds de solidarité FTQ 5 15

Investissement Québec 3 6

Fondaction CSN 3 11

Cycle Capital Management (CCM) Inc. 2 11

iNovia Capital Inc. 2 2

Private Independent Firms

*Total deal values – includes all participating investors.

CVCA Methodology

Page | 8

• Dataset includes verified completed equity or quasi-equity venture capital deals only.

• Not included are non-equity based government funding such as grants from FedDev, project financing from the SD Tech Fund of the Sustainable Development Technology Canada (SDTC), pharmaceutical product development deals, senior debt as part of overall financing package, venture capital-backed acquisitions, and angel financing.