SEATTLE/LOS ANGELES (Reuters) - In the sparse Seattle offices of Privateer Holdings, Brendan Kennedy grabs an iPad to show how his bet on legal marijuana is already paying dividends in the form of a Google results page for "blue cheese."
Venture capital surged to a new record in the first quarter while private equity investment contracted modestly on the back of declining oil and gas activity, a new report from the Canadian Venture Capital and Private Equity Association says.
QVentures, a members-only investment club, will allow wealthy private investors, entrepreneurs and venture capital firms to team up to invest in promising start-ups.
The combined investing power of seasoned investors such as legendary music producer Harvey Goldsmith, Moonpig founder Nick Jenkins and Quintessentially co-founder Aaron Simpson will allow small companies to raise far more than they would through traditional angel networks.
There’s no shortage of news from Difference Capital, a money manager focused on investing in mid-to-late stage private companies, set up by the legendary Mike Wekerle two and a half years back.
Of late, a number of directors and managers have left, there’s been a very public spat with a cash rich shell BENEV Capital, disappointing news about some of its key investments, a falling share price and this week, a $0.33 a share quarterly loss.
The annual Réseau Capital Convention takes place in Montreal on Thursday. This year’s convention, the 22nd, brings together a mix of investment industry participants including venture capitalists and private equity firms pension funds, angel investors and entrepreneurs, will be a little different from the previous.
It’s a time-honoured process: recognize that there is a problem and then do something about it. That’s what the gang at the TSX Venture Exchange is doing through their decision to hold two industry dialogues, the first in Vancouver and the second in Calgary later this month.
Ilan Jacobson, chief executive of FirePower Capital Corp., has a straight-forward message for small to mid-market Canadian companies that need growth capital: don’t issue equity.
Instead, the boss of the company, which defines itself as “Canada’s leading entrepreneurial investment bank,” said that such companies which are not normally cash flow positive, are better off by issuing debt, even debt that comes with so-called equity kickers. Those kickers add to the coupon cost of issuing debt.
For the past two years, Stephen Redmond has sat outside of Grand Central Station in New York City, on Park Avenue, with a sketchbook and a "Homeless Artist" sign. During the day, he paints and sketches for money, and at night, he sleeps on the street. On the weekends, he'll stay with his girlfriend in the city.
BOSTON (Reuters) - Hedge fund manager William Ackman's strong returns have made him into one of Wall Street's biggest managers, but even he may struggle to raise $1 billion in the next week for a single stock fund whose target he won't identify, say investors.