Randy Stewart Thompson – chairman of Valhalla Private Capital, managing director of Old Kent Road Financial and co-owner of Peterborough United Football Club – has hailed oversubscription in post-pandemic Alberta as a sign of a “healthy ecosystem” for startups.
Discussing the number of angel investment companies in Alberta at Decentralised Energy Canada (DEC)’s 2022 Annual General Meeting and Investor Forum alongside Anouk Kendall, president of DEC; Natasha Kostenuk, CEO of Ayrton Energy; Dan Erhardt, CEO of Arcus Power Corp and John MacInnes, chair and CEO of Earthware; Randy said that he has been calling for more venture funds in the province for two decades.
“I remember saying in 2002, 'we need six groups just like mine',” he began.
Randy claimed that an increased number of angel groups is helpful for
entrepreneurs who need to adjust their working model, as well as those whose “dog died the night before” or are being affected by other factors such as domestic unrest or a lack of sleep.
On the topic, he continued: “you know what's really cool? Oversubscription.
“I have not seen many deals right now that are not oversubscribed, and oversubscription means that valuations have not gone in the favour of my people - they're going in the favour of entrepreneurs,” Randy concluded.
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