Fiscal update gives much-needed clarity for clean tech investors: venture capitalist

A venture capitalist focused on clean technologies says Canada’s fall fiscal update has provided some long-awaited clarity on policies aimed at attracting investment in the space.

Tom Rand, managing partner at ArcTern Ventures, said it has been tough to attract investment to Canada due to the mix of policies aimed at supporting the energy transition.

“When you’re going out to raise capital, you need clarity to get the private capital to commit first,” he told BNN Bloomberg in a television interview on Tuesday.

While the U.S. has had the advantage due to measures laid out in the Inflation Reduction Act, Rand said Tuesday’s fall fiscal update put more numbers to paper.