Well, it is an issue. Having said that, if you have a stable of professional venture capital managers who have adequate funding, you tend to attract domain experts onto your investment teams. In the case of GrowthWorks, we have a group of professionals coast to coast. If I'm doing a life sciences deal in Atlantic Canada and I don't know much about life sciences, I can ask one of my team members from the Toronto or Vancouver office, where we have a significant portfolio in life sciences, to help out on the due diligence and the analysis and so on.
It's one of the issues you run into with angels who want to invest. Some of these entrepreneurs have been very successful in their own businesses and industry sectors, but they really don't understand IT or advanced manufacturing or clean tech.
So you really have to develop a cadre of experienced venture capital managers, and when we run out of capital, jobs disappear and you lose that expertise.