Lets ask a question….

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Who was a VC investor in RIM ?????????anyone?there wasn’t one…Deloitte should probably come up with a better example.

Canada’s technology sector is in dire need of new venture capital investors and is at risk of shriveling up if it doesn’t get it, according to global auditing and tax consultancy firm Deloitte.And the number of eventual success stories — such as Waterloo, Ont.-based BlackBerry maker Research In Motion Ltd. — will be even fewer, said John Ruffolo, leader of Deloitte’s technology, media and telecommunications practice.

right.

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Hi. My name is Matt Roberts, you can find me at www.mattroberts.com.

2 Comments

  1. Ian Graham says

    Matt, did RIM boot strap or were they funded via LSIF? There must have been some sort of external money to fuel that kind of growth.

  2. mattroberts says

    As I remember it was mostly angel, and there was some some sort of Convertible Debenture just before the IPO. I’d include a LSIF as a VC if they were involved (but not if it was in the pre IPO-convertible.)They used the usual IRAP/TPC stuff of course. But I’m 99% sure there was no ‘classical’ VC funding as a discussion at one of the CVCA meetings I had with Mike Lazaridis centered on the topic.

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