The Cross-Border Biotech Blog

Biotechnology, Health and Business in Canada, the United States and Worldwide

New Funding for BDC Says Venture Capital in Canada “Tastes Great!”; Kedorsky Says “Less Filling!”

Horse's MouthYesterday Tony Clement announced an additional $450 million in funding to BDC:* $100 million in credit guarantees, $260 million for follow-on investments in companies where BDC is already a direct investor, and $90 million to invest in venture funds.  The follow-on money and the LP money will be spent over 3 years. (On purpose. (Ha.))

All the more topical, then, that in a recent WSJ VC Blog post on Canada’s venture capital industry Paul Kedorsky is quoted as saying that Canada’s industry won’t be helped by “government want[ing] to goose things.”  Paul, who used to be at Ventures West, authored a Kauffman foundation report saying the U.S. VC industry needs to shrink (check!), and thinks the industry on both sides of the border needs “a kind of restart.”

Personally, I vote “don’t look a gift horse in the mouth.”

*H/T Mark Macleod and @chrisarsenault.  Pic from thelivingdead531.

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One response to “New Funding for BDC Says Venture Capital in Canada “Tastes Great!”; Kedorsky Says “Less Filling!”

  1. Pingback: New Data Shows 70% of Canada’s Biotech Companies Have Under 12 Months’ Cash. BIOTECanada’s New Ask: Government Loans. « The Cross-Border Biotech Blog

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