has co-invested with some amazing funds. I'm sure many other Canadian VCs have done the same. Finally, exits are happening. We had over $1B in exits in Canada last year. If there are any clouds on the horizon, they relate to the disappearance of the US / Canadian border when it comes to VC. When I first entered the startup World, you had no choice but to raise seed and series A in Canada. Only then could you tap the US funding markets. That's no longer the case. Whether it's great startups with traction hitting Angel List (there are 890 Canadian startups listed there), or proactive seed / early stage VC funds coming up here to pick our best deals *before* they get funded locally ( 500px and Tribe HR are just two examples of this trend). There is a perception (rightly or wrongly) that US investors are better than Canadian ones. And that given the choice, founders would raise in the US. Whether this is true or not is not the point. It's the perception and with the borders coming down it represents a real risk to Canadian investors. To counteract it, we need to: Move quickly : Show commitment to a deal before someone swoops in and takes it. I have been guilty of this in the past, and lost out on a great deal as a result. Pay up more : It is a fact that I have proven again and again, that a Canadian startup that