Venture capital experts say higher interest rates could trim sky-high valuations Canadian startups have grown accustomed to over the last couple of years, but not right away.
On Wednesday, the Bank of Canada raised its benchmark interest rate to 0.50 per cent from 0.25 per cent, with more hikes expected this year.
``This initial increase shouldn't hinder venture capital (VC) deployment or hurt startups looking to raise as venture funds are flush with cash right now and want to use it,'' says Laura Lenz, who leads investment activity in Canada at OMERS Ventures.
Montreal-based automation start-up has raised over CAD$55M in total funding after closing its Series A New direct investment from OMERS Ventures and White Star.
Montreal-based automation start-up has raised over CAD$55M in total funding after closing its Series A New direct investment from OMERS Ventures and White Star.