Canadian VC's have a terrible habit of stringing along founders for months to try and gather more info/data on the companies and never giving a firm answer. It is one of the most destructive forces possible, it causes Founders to waste months chasing money when they should be building their product/teams, I've seen it kill many good companies with great founders who should have been given a chance to build a team/product, not chase money for months. Hopefully this fund will force Canadian VC's move faster, as long as there aren't any landmines in the terms... But with the government money invested I worry about the terms.
Just a guess here (I'm not affiliated in any way) but the "Ontario Centers of Excellence" is listed on their partners page - the OCE is a gov't funded body which provides ~$55K of matching funds in the form of grants to early stage companies (i.e. you raise $55K from accredited investors, they provide the other $55K as a grant) - that could be why their max commitment is $110,000.
FWIW, I saw this fund after reading about their first investment [1], I thought the fund itself was noteworthy in its quick turnaround on funding decisions.<p>Edit: also see [2]<p>[1] <a href="http://betakit.com/orchard-labs-receives-500000-from-the-mla48-angel-investment-fund/" rel="nofollow">http://betakit.com/orchard-labs-receives-500000-from-the-mla...</a><p>[2] <a href="https://mapleleafangels.com/blog/2015/6/10/mla48-angel-investment-fund-completes-first-investment" rel="nofollow">https://mapleleafangels.com/blog/2015/6/10/mla48-angel-inves...</a>
Are there any VC-type investment groups that aren't chasing huge returns? For instance, I'm working on some technology that could relatively easily get to be a several million dollar company - a similar product was sold to Oracle for $20M. I need about $80K to develop and launch it solidly, though I'm trying to bootstrap (got a $100K/yr verbal commit from a potential customer -- but I need the product first).<p>Or is it simply not worth looking for outside investors and instead should I just bother family and friends and whatnot?
<p><pre><code> "$110k through investment and government grants
in exchange for an equity stake"
http://www.mla48.com/take-action/
</code></pre>
For how much equity?