Paging Mark, David and the crew at StartupNorth. I’ve been talking about this for over a week and forgeting to post it. Mark McQueen of Wellington Financial has a fantastic post about a recent Delloite report revealing the sad state of venture capital AND a detailed set of recommendations on how to fix it.
According to Ruffolo, the results of the global VC survey should trigger alarm bells throughout the industry and government. “If not fixed in the near term, the Canadian VC ecosystem – made up of successive and sequential stages of capital investment from early seed financing through initial public offerings – will collapse. We need the government’s help to pull the industry out of this crisis,†he says.
Why Mark is also so surprised that the BDC, despite perhaps even their best intentions, may have been stepping in to fill some part of this financing gap in recent years, is, a whole other debate. In the meantime though, check out what Deloitte has to say and have your eyes opened to a very real problem with venture financing in Canada.
see also, the comment thread on this startupnorth post for more context.