The latest updated from the Network of Angel Organizations of Ontario tells us angel investment surpassed $91 million in 169 early stage companies in the province.
Since 2007, members of the network have invested and leveraged $255 million of private direct investment into 169 Ontario companies, creating and sustaining more than 2,200 jobs. This $255 million is composed of $91.6 million in direct member investment (includes $61.5 million from ANP-supported group members), and $163.3M in co-investment and follow-on investment by other investors.
“Entrepreneurs still need the private sector for the capital and expertise needed to commercialize. By supporting the network, the government provides entrepreneurs an opportunity to attract growth capital from private investors province-wide, “ said Jeffrey Steiner Executive Director of NAO-Ontario.
“Alternatively, supporting groups that allow the private sector to collectively select and invest in early-stage companies helps ensure that high-value opportunities move forward. Angel-backed companies illustrate small business job creation at its finest and catalyze significant economic development throughout Ontario,” NAO-O board Chair, Dr. Patricia Lorenz added.