Bridgescale Adds Smyth to Focus On Social Media

Bridgescale Partners is adding a fifth partner.

The firm is announcing today that Canadian Derek Smyth is joining the as a managing director, yet another indication that the growth stage investor is making a push in Canada. Smyth (pictured) previously served as a partner at EdgeStone Capital Partners and serves on the boards of RedMere Technology, Shoplogix, CiRBA, Varicent Software and Rypple, which last month raised a $7 million Series A round from EdgeStone, Bridgescale and others.

I asked him by email about the move to Bridgescale.

Q: What will be your investment focus at the firm?

A: I am very interested in the social enterprise (such as Rypple) and will be seeking out the best opportunities in that space.

Q: What do you see as the greatest challenge facing the venture capital industry today?

A: I fear the industry spends too much time talking about what’s wrong with the “model. Fund size, stage focus, right verticals, etc. GPs need to put together fund strategies that fit their experience and expertise and then focus on execution in the same way our portfolio companies must. That’s what has driven the industry since the beginning.

Q: What is your favorite Canadian hockey team?

A: Shockingly, having grown up in Canada, I don’t like hockey. Don’t even know the rules. I’m a Toronto Raptors basketball fan.