Most startups on the East Coast and around the world view raising capital as a top priority. And with good reason, you can only boot-strap your startup so far. Cash is almost always the fuel for growth.
One of our unquestioned assumptions when we closed the Build Ventures’ fund in 2013 was that launching a startup in Atlantic Canada was cheaper than doing it in other parts of Canada or the United States. Our location, at least in this respect, was thought to be a competitive advantage.
InteraXon has developed Muse, a brain fitness tool that measures a user’s brain waves using seven finely calibrated electroencephalography (EEG) sensors – two on the forehead, two behind the ears working together with three reference sensors.
Rob and I are happy to welcome AirVM to the Build portfolio. We recently took part in the company’s $8 Million Series A round, which was led by RHO Canada Ventures, ourselves, as well as previous investor Wesley Clover.
It's hard for Rob and I to believe but Build Ventures just had its two year anniversary. There was a surprising amount of 'administrivia' involved in setting up a first fund and a lot of fundraising meetings which took the fund from $48.5M when we launched to $65M today.
Build Ventures is entering Newfoundland and Labrador with a major investment, supporting Celtx — a startup whose software is being adopted by companies in film, video and theatre around the world.
Halifax, NS, May 14, 2013 — Build Ventures, the new venture capital fund based in Atlantic Canada, launched today with almost $50 million in committed capital at first close, and announced Rob Barbara will join as a partner.
Finding capital is one of the biggest challenges facing startups, in Atlantic Canada or around the world. Most traditional lenders are leery of investing in unproven startups, and friends and family support will only take you so far.
