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Canadian venture capital investments totalled $4.4 billion in 2020, their second-highest level on record, according to a new report.

The Canadian Venture Capital and Private Equity Association says there were 509 deals done across the country last year.

The total dollar value of the deals was second only to 2019 when there were 560 deals done worth a total of $6.2 billion.

Information communications technology companies received the majority of the total dollars invested in 2020 as they attracted $2.4 billion over 284 deals.

Life science companies received $1.1 billion over 89 deals, while clean tech companies received $101 million in 22 deals.

More than 60 per cent of the deals in 2020 were less than $5 million, with most ranging between $1 million and $5 million. There were 17 deals worth more than $50 million, accounting for 38 per cent of total dollars invested in 2020.

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