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Van Sun/wire say CSE takes aim at technology start-ups

2017-04-21 07:12 ET - In the News

The Vancouver Sun reports in its Friday edition that having established itself as a go-to market for junior miners, marijuana stocks and the odd mah-jong company, the Canadian Securities Exchange now wants to lure tech start-ups. A Bloomberg dispatch to The Sun quotes CSE chief executive officer Richard Carleton as saying, "I would love to see more technology companies." Mr. Carleton's ideal CSE would be like the Nasdaq Stock Market in the 1970s, rich with patent owners the world has not yet heard of. That will not be easy: Only two Canadian technology firms have raised more than $100-million through initial public offerings in the past three years, Shopify Inc. in 2015 and Kinaxis Inc. in 2014. Technology start-ups will not easily give up the relative safety of private capital -- "contacts, mentorship, know-how and experience" -- for the rough-and-tumble world of public markets, said Mike Woollatt, CEO of the Canadian Venture Capital and Private Equity Association. "They call private capital 'patient capital' for a reason; there are ups and downs that you can ride with private capital. That said, it is only patient for so long." TMX Group's TSX Venture Exchange is also working to win more tech listings.

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