Verkindt: Canada Lacked Early-Stage Venture Capital Around 2012
Nicole Verkindt · 1340 She Helps Raytheon with Procurement, Passes $1m in ARR with eye on $5m · Mar 26, 2019 · at 4:32
Nicole Verkindt, founder of OMX, recounts the difficulty of fundraising in the Canadian tech ecosystem when launching in 2012.
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“I went out to raise a, do a significant VC raise, and I just had a lot of challenges with that process, and I mean, you and I spoke earlier about how much I feel the community has changed, especially in Canada in the last eight years but we had, there wasn't really any early stage venture capital when we were going out, and so I don't feel that we got on the race train.”
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“I think investors give you that impression, right? So they'll only give you a multiple on your reoccurring revenue. They only want it to be software related revenue.”
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Verkindt: OMX charges buy-side clients 3,500 CAD monthly minimum
“The buy side on average is paying about 3500, not on average, the low end is about 3500 a month, and that's in Canadian dollars, so it'd be more in US. And then on the sell side, it's about a 150.”