Yaletown Ventures raises $65 million |
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Yaletown Ventures raises $65 million
The venture capital business is slowing. Startups are hunkering down. And venture returns are starting to take a dip.
Still, there is money to be made, even in down times. And maybe you have a better shot if you live in western Canada.
Vancouver's Yaletown Venture Partners today announced $65 million as part of the initial closing of its second fund, an impressive task given the rocky financial climate.
The cash infusion follows the firm's $42 million fund which closed in 2003.
Yaletown invests in clean tech and information technology companies. And while it is based in Vancouver, it does have ties to the Seattle area.
It is a co-investor with Kirkland-based OVP Venture Partners in GenoLogics and a co-investor with Seattle-based Madrona in Mixpo. It will be interesting to see if the new cash leads to more partnerships in the Seattle area.
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