New Startup Fund

I was surprised when I stumbled across this article about Terry Matthews spearheading a new fund for technology firms. This should be positive for Ottawa even though the article states that the fund will invest in firms throughout Canada.

It is of course too soon to know exactly what stages of companies will be targetted by the fund, especially whether it would invest in angel rounds. Yet knowing Terry's continuing interest in fomenting activity at the earliest point in a company's life-cycle I have some hope that the fund will address this gaping hole in the present startup situation here in Ottawa. Angel financing is critical to getting many excellent product concepts off the ground and running sooner and more effectively. Too many now die in the bud or move too slowly because the founders can't afford to leave their salaries behind to focus their energies on their nascent businesses.

All I can do is wish him luck with closing this $100 million fund. I know people and ideas that could use this fuel to build momentum for their dreams.