“We have just lived through a decade of historically low-interest rates, which has now all but come to a stop. While this has broad sweeping impacts for the economy at large, for venture capitalists this has dramatically increased the opportunity cost of capital for general partners,” says Mike McAra, director at Second Century Ventures and NAR REACH Canada. “On a risk-adjusted basis, the hurdle rate for investment is much higher now than just six months ago, and thus capital is being allocated much more diligently and much slower.” Commercial real estate is going through a tough time in the wake of the pandemic and as economic clouds loom on the horizon. Soaring interest rates and low vacancy levels are forcing real estate firms to streamline expenses by cutting out any non-essential spending, which has left a wide range of proptech technologies on the wrong side of the budgeting discussion. The “nice to have” products and […]