My good friend Jared (19 year old serial entreprenur... a true "whiz kid") just announced publicly that he's raised $3M for his Series-A financing round in San Francisco, lead by True Ventures today.
So, why doesn't this happen in Canada?
The article, about Canada's "Venture Gap" in this month's Canadian Business magazine (which coincidentally just came online today) may shed some light on the situation (hint: one of many things would be: further support university/youth entrepreneurship, and take bolder risks in business to consumer venture opportunities.)
Albert - we've recently gone through the same process here raising a series A in San Fran. We started in Toronto and the reality is that things moved too slow, the valuations were skeptical, and the general view was not big and bold but slow and cautious. We could have stuck it out and made it happen but the valley was generally just more open. Even the university scene (from what we experienced) doesn't have the same entrepreneurial drive.
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