2023 has finally arrived, signaling a bittersweet farewell to another tumultuous year for entrepreneurs and investors alike. Find out what our team has to say about 2022 and the year ahead below:

Randy Thompson, chairman

2022, I won't miss you but I needed you. As entrepreneurs whether we like it or not there is at least one time in the journey where your expectations, assumptions, repetitive behaviors all get challenged.. and not like Kodak where you get boiled slowly, but like a sports car hitting a brick wall. That was my year. 

The other truth about a "recalibration" in your journey is that the recalibration is spiritual.. resetting what you believe and what's important and make sure you and your company stand for those values. 

I hope you all have time over the holidays for healthy recalibration. Check your assumptions at the door, explore what is true to you and have an amazing 2023 because you planned for it, and you were ready for it.

Evelyn Cerda, Regina and Saskatoon chapter president

Good bye 2022! This year was certainly a roller coaster. So many of us were waiting to go “back to normal” but that is yet to come.

On one end, some companies experienced difficult times dealing with the current economic circumstances having to reduce staff and even close operations. On the other end, we continued to see good levels of investment and growth with many western Canadian startups rising to the top and gaining exposure.

Teruel Carrasco, president

"The tech community is having a moment! The Canadian tech scene has seen explosive growth with record investments. At the same time, 2022 has experienced unprecedented volatility. A full view spectrum gives cause to be optimistic about the future of tech in Canada. 

Good companies will attract capital. The bar is rising and this can only be good news for investors who are exploring the future of tech in Canada. The necessity for ecosystems to develop closer formal and informal relationships will ensure the investment continuum continues to flourish and produce world class scale ups. Valhalla will continue to grow and be a critical bridge between launching and scaling with the capital that supports these initiatives.

2023 will be an interesting year for VC and Angel investing, predicting the year is challenging but one thing is certain; new startups and scaleups will continue to hatch and require capital and we plan to be there to invest and support these new companies."

Rod Brown, co-founder

Globally, the past couple years have seen the fastest pace of change largely led by entrepreneurs working hard to solve rapidly changing problems and the world at large adopting these innovations / solutions much faster as well.

Investors are working to keep pace but have been more selective in deploying capital. Even with the drop off in venture capital activity from 2021, 2022 will still rank as the second highest investment year in history. There remains significant amounts of dry powder ($$$) available to fund innovation and this holds as a strong opportunity for transformational companies to emerge.

True leaders often break out of the pack during tough times and we expect that to happen in 2023. As angel investors, we will continue to play a critical role in leading the economic development and entrepreneurial support while making it possible for transformational companies to accelerate.

Mykaela Horrigan, chief of staff

“While moving towards a more permanent interest for in-person events and networking, we’ve been able to reconnect our angels, entrepreneurs and team members, face-to-face, regularly!

Following the demand for virtual connection, hybrid working-styles, etc, it is great to see how positive changes, such as these, continue to be implemented and improved upon. I look forward to the coming year to see how the level of commitment to being relevant, modern and adaptable, throughout the community, continues.

Marco Donadeo, Alberta chapter president

"2022 has been an interesting year to be a part of the startup community. The entrepreneurs are receiving more community support than ever before, and I am beyond excited to be a part of that movement. 

2023 may have a little bit of a different feel with the current economic and sociologic conditions. I anticipate valuations to drop, and slower financings. There will be funded companies, but it will be a much tougher road at the earlier stages."

Feel free to take what you want from there

Ashley de Nooj, general manager

2022 felt like a burr but the stand out moments were definitely being able to see everyone in person again! The past two years have changed the landscape of angel investing and I'm looking forward to seeing what 2023 brings.

Grant Lawrence, Vancouver and Kelowna chapter president

"Phew, what a year so far! Finally Covid-19 is settling down, we are back to in-person meetings, the supply chain is clearing up and things are looking up for founders to create funding relationships and support with investors…

Until we get hit with inflation, the war continues, FTX implodes, Twitter changes, and we may have a recession on our hands. 

Helping founders navigate will continue to be a key effort for angel investors well into 2023."

Mark Mitchell, Alberta chapter president

“Canada’s technology ecosystem is on the precipice of extreme growth. 2021 and 2022 have been record years for Canadian tech financings and there are numerous Canada-wide grassroots initiatives that will help propel our industry to new heights through 2023 and beyond. We are so grateful to be part of this ecosystem. Buckle up!”

For 2023, I am looking forward to welcoming a new wave of founders and innovative companies joining the ecosystem; experiencing more balanced investor-founder dynamics with a pragmatic approach from both sides; and, still being part of the amazing tech communities and their momentum.

As for Valhalla, I’m excited to share with everyone some of the projects we’ve been working on and continue to grow  our community of Founders, investors and innovators. Here’s to 2023!”