I’m an optimist – The latest from the VC Market is Good News for BC

Dave Thomas of Rocket Builders is a Techvibes Guest Contributor.

Will recent events in the North American finance market mean venture capitalists are going skiing for the winter?

No, I think it is going to be the opposite. Earlier this week Yaletown Venture Partners closed their second fund. This is great news for any entrepreneur in the Province. It follows the announcement of the Renaissance Fund that has been championed by Todd Tessier for a long time and sponsored by the Provincial Government.

The key thing is timing. Both have money to spend, will be shopping for deals over the next couple of quarters and are looking at a buyers’ market. It also means that other micro funds and angel activity that has been waiting for the Yaletown deal to close can proceed.

Good news for any good company with proven growth prospects.