TORONTO, March 13 (Reuters) - Last week's sudden collapse of Silicon Valley Bank (SVB) could choke funding for Canada's technology start-ups and place them in the hands of domestic lenders who may be more selective in financing new ventures, financiers told Reuters.
Companies including Shopify Inc (SHOP.TO) were examples of Canada's tech success story, which helped pull more investments into the sector.
Benjamin Bergen, president at Council of Canadian Innovators, a lobby group for Canadian technology companies, agreed.
"Before SVB went down, accessing capital was increasingly becoming tighter and tighter for Canadians for startups for scale ups," he said.
Aside from the banks, the federal government also has a Venture Capital Catalyst Initiative program that invests in promising Canadian technology companies.