Up the capital ladder

The B.C. government has finally announced the launch of its BC Renaissance Capital Fund. The concept is that the government will seed—with $90 million over five years—a large slush fund to assist B.C. technology, clean-tech, life sciences and new media companies at critical points of their lives.

But the fund's structure is causing much confusion and some cynicism among people who apparently don't have a clue about how venture capital works. For instance, a sticking point among many is that the fund will provide money to six venture capital firms, most of who have little to do with B.C. more...