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The culture of innovation: VC truths vs. academic lip service

A few years ago, the Canadian federal government asked me to explain the dismal performance of venture capital in the country. The 10-year average return of VC funds in Canada for the period 1995-2005 was 2.5%, compared with 20.7% for US funds — the various Canadian government-sponsored funds made even lower returns. In 2007, while […]