Brightspark Ventures gets $6 million backing for its democratic approach to VC funding

Dec 06 22:12 2017 Print This Article

Sophie Forest, Managing Partner for Brightspark Ventures

 

Toronto-based VC Brightspark has just announced the closing of $6 million in financing, which the company says will be put towards expanding the 18-year old firm’s reach across Canada and to furthering its own “democratic” approach to VC dealmaking in the tech sector.

The high stakes and high risk (and potentially high reward) world of venture capital is not for everyone, literally, as governments, in the name of investor security, allow only accredited investors such as banks, investment firms and those with high-net- worth to play the VC market. Thus, when a company says that it’s turning over the traditional model by “democratizing venture capital,” some could be forgiven for being a little skeptical.

All is relative, however, as Brightspark’s plan is to get more accredited investors involved in each deal by requiring as little as $10,000 per investor (it currently boasts a network of 2,000 accredited investors). That plus a targeted approach to the tech startup scene has allowed the company to be more inclusive and, just as importantly, fast on its feet.

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Cantech Letter

Founded in 2008 by Nick Waddell, Cantech Letter is an online magazine focusing on Canadian technology. The site has grown into one of the most popular and respected financial sites in Canada, and was described by Canadian Business Magazine as “one of Canada’s premier technology newsletters”. Waddell, who is Senior Editor, is routinely called on by the mainstream media for perspective on Canadian technology, and has been featured on BNN, CTV News Channel, and the CBC program “The Lang and O’Leary Exchange” in addition to mainstream print media such as The Guardian, The International Business Times, The Globe and Mail, Macleans, The Waterloo Record , Canadian Business, Slate, and Business Insider. You can email Nick at nick@cantechletter.com Cantech Letter is focused on those companies listed on the TSX and TSXV Technology, Cleantech and Life Sciences Sectors. Each year we present the Cantech Letter Awards, which honor Canada’s Top Technology Stock and Top Technology Stock Executive.

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