Headline: August 11th 2009 - Severe Contraction in Venture Capital Levels, worst quarter in 14 years.What was the state of the venture capital industry in Canada 14 years ago? In Q2 1995, there were a few VCs in Canada with capital to invest. Ventures West had a small fund, BDC was active, Working Opportunity Fund had been up and running for a few years, Working Ventures and Vengrowth were the newest players in Ontario joining Helix and the uber-angel Terry Matthews, Quebec had a few small funds... and not much else.