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American venture capitalists are eager to invest millions of dollars in promising Canadian start-ups despite the economic woes in the United States, says a prominent Boston lawyer.

"Despite all you're hearing about the recession south of the border and the subprime debt crisis, the (venture capital firms) still have a lot of money to deploy," said Leonard Gold, a partner with Boston's Burns & Levinson LLP and the managing director of its Canadian operations.

"Many are starting to realize they should be looking north."

Gold, known as a corporate cupid, helps to connect start-up companies looking for financing with venture capital firms.

Last year Gold met with Premier Shawn Graham and Business New Brunswick Minister Greg Byrne during their visit to Massachusetts.

At the time, he spoke about connecting more New Brunswick companies with the Boston's large venture capital firms, some of which have more than US$1 billion in assets under management.

While a few New Brunswick firms have since either spoken with him or travelled to Boston to participate in investment pipeline events, Gold said he'd like to more companies from the province participate.

One problem for the province is a lack of venture capital ready firms, he noted.

Many of these companies are seeking smaller amounts than the typical $5 to $12 million large venture capital firms are seeking to invest.

Finding money for early stage companies - typically from so-called angel investors - is a problem in both the U.S. and Canada, said Gold.

But there's a growing sense amongst angel investors in and around Boston that it might be worth their while to partner with local angel firms in Canada, he said.

"If they could build a relationship with an angel in Canada there is a willingness to invest in a company."

Gold said he's participated in recent meetings between angel investor groups from Nova Scotia and Newfoundland and Boston area angels that were facilitated by the Canadian Consulate in Boston.

"Some of the VCs in Boston are starting to realize that maybe it makes sense to put a couple of hundred thousand in a company and see what happens."

To help boost the number of New Brunswick firms participating in venture capital pipeline events and to improve the success rate of those firms in securing funding, Gold said he'd like to organize an investment boot camp for young companies.

Gold said he'd be interested in either organizing such a boot camp in Boston with experts who can help coach New Brunswick firms or having an event in the province.

"I think that's important because there's no point in any of the companies seeing the VCs unless they are properly prepared."

Rick Hancox, executive director of the New Brunswick Securities Commission, said the idea of hosting a venture capital boot camp for provincial firms has merit.

"I think that would be a very useful event to have in New Brunswick."