SCAN_logoTight.jpeg BLOGARHYTHMS>>> Did the Ontario venture fund finally pull the trigger?

McQueen%2C%20Mark44X64.jpgPosted by Mark McQueen

The rumours have been churning for weeks that the Ontario Venture Capital Fund has made its first financial commitment to the space, some 18 months after its launch. The figure isn’t known (US$5 or US$7.5 million perhaps), but most agree that Mayfield Fund was the first to get the nod from TD Capital Private Equity Partners on behalf of Ontario Premier Dalton McGuinty and Innovation Minister John Wilkinson. Here’s the skinny on them:
"We have over $2.8 billion under management and a team of ten investing professionals. Since our founding in 1969, we have raised 13 funds, invested in more than 500 companies, taken more than 100 public, and nearly 100 have merged or were acquired."
Mayfield has a truly great reputation, and one hears that they’ve agreed to open up a one-person office in Toronto as part of the deal. The brightside of all of this is that Toronto may have a new player in town with global links. Prior Mayfield successes include Broadvision, Citrix, Concur, Genentech, Nuance, Sandisk, etc.
500 investments over 40 years works out to be 12.5 per annum worldwide, counting both leads and syndicates. Which means, based upon the size of our tech economy relative to the rest of the world, Canadian entrepreneurs might imagine one incremental lead a year from their own backyard as a result of this new footprint. Click here to read more of Mark's post.

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