Valhalla Chairman: Hemlock or Arsenic?

Emmet McGonagle

June 17, 2022

Randy Stewart Thompson – chairman of Valhalla Private Capital, managing director of Old Kent Road Financial and co-owner of Peterborough United Football Club – has maintained that “the formal angel group isn’t dead” as Canadian companies weigh up their options against public government funding.


With regards to public funding, Randy notes that while Canada’s public sector can give tax credits for efforts such as developing software, places such as Silicon Valley aren’t given government funding to create startups.


“In the United States, it's life or death.” Randy began. “You figure out how to get cash in the door to pay for food and pay for rent - what will you do to get that? How important is it for you to have a startup? How important is it for you to have a job? 


“I always call it hemlock or arsenic - there's no such thing as a good decision. It's just a form of poison, which one do you want to drink? If you decide to live in Canada, and you build out of the public sector model, you're waiting for your next grant, you're waiting for your next cheque. You're doing all these things and that time to market for that company can be yours.”


Randy claims that the need to “break the chain” of dependence on public funding as “the core” of Valhalla Private Capital’s DNA. Through adopting a unique approach to traditional impact investors, Valhalla Private Capital works with entrepreneurs and investors alike to develop the most successful deal structures for both parties.


Randy continued: “The government isn't stifling innovation, per se, but they have this metric that they need you to meet within the grant, so you really want to be working on something over here but your grant is making work over there.”


 “And so, when we chose not to do that, it was more important for us to be working where we thought we needed to work, where the metric is.


Due to this “life or death” approach to creating a startup without public funding, Randy maintains startups are more innovative in finding money to pay for their company, as well as essentials such as food and rent.


“We need people that are heavy-duty and serious about developing their company no matter what the cost is. Those were the people we want to hang out with,” Randy concluded.


Do you have a question about angel investing? Get in touch with Valhalla Private Capital via our contact page.

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