Yaletown VC closes $65M fund
We were all crossing our fingers and holding our breath, hoping that Yaletown would close their new fund in these tough market conditions. That’s why I was so happy to learn that we can finally exhale! Yaletown did a first close with $65M and plan to do a second closing to top the fund out at $100M.
Congrats to Steve, Mike, Kirk, and Hans. But more importantly, I think this is a big win for the Vancouver tech scene in general. Many funds around town have put themselves in maintenance mode, and angels are in a wait and see pattern, which has all but halted any new innovation in BC. I’m hoping that Yaletown folks will be acting like kids in a candy store.