I remember many years ago, when Starbucks opened it is first “international” store in Waterfront station. I believe it was 1989. A colleague and I used to walk down mid- morning or afternoon, excited to be spending $2.00 on a cup of coffee because it was new and hip – something different.
Fast forward to today and the coffee industry in Vancouver is integral part of our everyday life. Every tech hub has its legendary meeting spots where business plans were crafted and financings negotiated. Silicon Valley has Il Forniao & Bucks, Vancouver has its abundant coffee shops – Artigiano’s and Mink spring to mind.
As all battle-scarred entrepreneurs know raising money is never easy. It is cold comfort to know that when investment managers go to “the market” to raise funds, cap-in-hand, they face the same rejection moment… when the people with the bags of money to invest call their business plan ugly.
So, it is with great satisfaction, my partners and I are able to announce “Hey – we closed our fund!!”. It is the first, and if we do our jobs right, not the last. It is “only” $2.0 M dollars, but in our model $2.0 M can be leveraged by a lot of companies on their growth path. We provide short term working capital to Canadian companies who qualify for SR&ED program. It’s timely and based on company responses so far, much needed in the marketplace.
We hope this is just the start – the start of a financial firm that is different and innovative, like our clients.
Thanks to our limited partners for entrusting us with their funds, and everyone else who has helped and encouraged us along the way.
Tags: capital, commercialization, development, financing, funding, research, SR&ED, technology, venture
