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Raising money for an internet startup in Canada is effectively impossible. You might get some minor Series A angel investors (dentists and vets are your best b
by nasalgoat 10y ago
Raising money for an internet startup in Canada is effectively impossible. You might get some minor Series A angel investors (dentists and vets are your best bet), but once you start getting into the Series B rounds where you need real money, you won't find anyone willing to risk it. All they're interested in is gas/oil/mining.
Very risk adverse. We've had to resort to roadshows down in California and New York to try and get US capital.
- cylinder 10y agoIt's not about risk aversion. There's just not enough money going around. US is a big country so obviously if 1% of your capital will be allocated to high risk VC it's going to be a much more substantial amount.
- nasalgoat 10y agoWe've had Canadian VCs tell us it was too risky to invest in internet startups. Full stop.
- Eridrus 10y agoThey're not really wrong though. Unless you really know what you're doing you will lose money, as evidenced by the fact that most VCs do in fact lose money and venture as an asset class sucks.
- omouse 10y agoThey aren't wrong but salaries are too low; you can't really bootstrap unless you're doing a side business and then you're effectively working two jobs. There's no YC in Canada or at least it's harder to get some funding.