Via Mathew Ingram at the Globe and Mail

VCs Dabble with Canadian Web 2.0 startup

MATHEW INGRAM

You're a small Internet startup based in Canada, and you want access to U.S. venture capital, but you don't want to have to move to Silicon Valley or hand over 45 per cent of your stock to a big VC group. What do you do?

For Vancouver-based Dabble DB, you find a guy like Paul Kedrosky, a Canadian-born venture capitalist and former technology analyst who is based in Silicon Valley but has ties to Ventures West, a Vancouver investment group.

Dabble DB announced Tuesday morning that it had closed a financing round with Ventures West, and that Mr. Kedrosky would be joining the company's board of directors. Mr. Kedrosky's relationship with Ventures West is also changing, in part as a result of the financing deal.

The amount of the investment was not disclosed, but industry sources put the figure in the $2-million range (U.S.).

Dabble DB was founded by Andrew Catton and Avi Bryant, two veteran programmers who are in their late 20s and hoping to ride the wave of enthusiasm about interactive Web-based applications known collectively as "Web 2.0."

Tags: database, internet, Vancouver, venture capital

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