Fidelity cuts valuations of Canadian tech companies including Hootsuite and ApplyBoard amid sector downturn

. The 1,254-page document provides a once-yearly snapshot of the investments held by its 100-plus funds.

Hootsuite, a beacon of Canada’s tech sector and one of the country’s largest private software companies,Fidelity was also an investor in several financings by ApplyBoard, committing a total of $20.77-million to the education technology company, based in Kitchener, Ont., through its Special Situations Fund. By June 30, 2021, it had written up the book value of its holdings to $29.

Fidelity reduced the valuation of its holdings across two funds in Montreal artificial-intelligence startup Imagia Cybernetics, Inc., by 49.6 per cent, to a total of $1.87-million. It also nearly halved the value of its $8.64-million investment in Quebec sensor-technology maker LeddarTech Inc., made within the past year, to $4.5-million as of June 30.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Convex Finance: 13 unlocks later, CVX stands far from investor anticipationConvex Finance, a DeFi protocol built on Curve Finance, commenced unlocking its CVX tokens as of 30 June. This was undertaken to combat the limited liquidity crisis that hindered the swapping of CVX tokens to Ethereum [ETH] on its protocol. The unlocking process was scheduled to run for 16 weeks to see the unlocking of […]
Source: CryptoAmb - 🏆 22. / 68 Read more »