skip to main content
Back to all blog posts

Posted in: StartupSource Categories | Funding | Angel Investors

Apr 27, 2017

Canada’s First AngelList Seed Round Closes

We have previously covered the Ontario Securities Commission’s support of AngelList, a well-known investment platform. The OSC granted exemptive relief to AngelList, allowing its syndicated investment model to be used for investments into Canadian startups.

Since then, the Canadian Securities Administrators have approved AngelList syndicates on a nationwide basis. As a result, Canada’s first syndicated AngelList deal has now closed.

Forestry.IO, a PEI-based software-as-a-service startup, recently announced the closing of a $744,000 seed round, which included an AngelList Syndicate led by Gil Penchina of San Francisco-based Flight Ventures. Penchina is well-known within the venture capital community for his previous investments in LinkedIn and Dollar Shave Club.

Exemptive relief and regulatory flexibility through programs like the OSC’s LaunchPad initiative will help Canada’s capital-raising picture continue to diversify. Canadian startups and companies, including those based in smaller centres outside of Ontario, are now able to target AngelList syndicates as part of their seed capital strategies – a welcome development for the sector.

Related Blogs

Posted in: StartupSource Categories | Practical Tips

Insights StartupSource
Dealing with the Difficult Employee By Lorenzo Lisi May 18, 2017 All organizations have to deal with the “difficult” employee. With enough knowledge of the law to be dangerous, this employee seems to know all the right buttons to push and takes up a considerable amount of time and resources to manage. This article provides some important tips to remember on ho...

Posted in: News | StartupSource Categories

Insights StartupSource
A “Trump Dividend” for Canadian Tech? May 11, 2017 We’ve written in this space about the potential implications of a Trump presidency for Canada’s startup ecosystem. With Trump’s first 100 days in the rear-view mirror, a recent New York Times article reviews some of those implications and forecasts a “Trump Dividend” for Canadian artificial intel...

Posted in: Funding | News

Insights StartupSource
New Venture Fund Provides Support to Female Entrepreneurs By Shannon L. Corregan Nov 22, 2017 The Business Development Bank of Canada (BDC) and the MaRS Investment Accelerator Fund (IAF) recently announced the first closing of StandUp Ventures Fund I, an initiative to provide financing and advisory services to female-led businesses and startups.