An open letter to all members of the Legislative Assembly of British Columbia. Venture capital is all about speculative investing, innovation and determination for discovery leading to jobs
B.C. has a well-earned reputation for raising venture capital, particularly with companies involved in mineral exploration, where B.C. companies have accounted for about 60% of worldwide activity. Many of the major mines in the world were discovered by Vancouver-based junior exploration companies raising risk capital from speculators. All significant mines in B.C. were initially financed by equity raises subscribed by speculators.
This industry is now in a death spiral because regulators are effectively killing the B.C.-based support industries that have been responsible for creating thousands of jobs in B.C. and around the world. The exploration financing mechanism based in Vancouver, at one time generating over $300 million annually, is in full retreat.
Venture Capital Markets Association -Resource Clips – August 13, 2015.
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