I don't have specific statistics I can quote to you at this time. We do track companies that are ultimately exited down the road. Typically that's well downstream from us. We invest at a fairly early stage, pre-commercial. Most of the companies that would be acquired would be acquired later on, several years past our funding.
As I mentioned in answer to Mr. Braid's question, we believe that in clean tech the likelihood of the companies and the assets and the employees staying in Canada is higher. We have seen that. We also see more of these companies going public on the TSX, so they remain independent, trade on the Canadian stock exchange. I believe 30% or 40% of the clean-tech companies listed on the TSX are SDTC-funded companies. That's an available financing mechanism that allows them to stay and to be independent.
We've seen very good success in terms of our companies being able to ensure the Canadian shareholders and the Canadian government reap the economic benefits through the funding to SDTC. Of course, the environmental benefits are global benefits, so whether they're commercialized by an independent company, all of whose assets and employees stay in Canada, or acquired by a foreign company and deployed, we believe those benefits continue to accrue.
Of course, the shareholders do benefit through M and A; that's an important part of the life cycle. If investors and founders can't get some exits, then they won't be able to start up the next company and start over again.