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Updated: Tue, 01 Apr 2014 08:00:00 GMT | By Mark Brown

Three Canadian provinces now attract more venture capital than all but 6 states

Guess where the venture capitalists are investing now?


 (© Photo: Sam Jeffrey Coolidge/Getty Images)

(Photo: Sam Jeffrey Coolidge/Getty Images)

Tech startups in Canada have long complained about how hard it is to secure funding-but that's changed. Overall, venture capital spending in Canada shot up by more than 30% in 2013, and Ontario, Quebec and British Columbia are now among the Top 9 destinations for VC funding in North America. Not bad considering B.C. didn't even crack the Top 20 in 2012.

1. California | $15.2 billion

In 2013 the Golden State grabbed 47% of North American VC market share, down from 50% in 2012.

2. Massachusetts | $3.2 billion

3. New York | $3 billion

New York's take of the VC market grew the most in North America in 2013, up 2.6%, likely due to the fact that the tech industry is now the second-biggest sector in the Empire State.

4. Texas | $1.3 billion

5. Maryland | $680 million

6. Ontario | $676 million

The clean-tech and info-tech sectors attract the lion's share of VC funding. That's certainly true in Ontario, which is home to three of the five largest companies receiving VC funds in Canada, including a $100-million investment in the e-commerce website provider Shopify and a $47.5-million deal for the renewable energy company Anaergia.

7. Virginia | $614 million

8. Quebec | $589 million

Quebec grew its VC market share by just 0.4%, but it was enough to move it into the Top 10.

9. British Columbia | $478 million

More than one-third of all VC money invested in B.C. in 2013 went to a single company. Investors sank $171 million into social-media company HootSuite. It wasn't just the biggest deal in the province; it was the biggest deal in the country in 2013.

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