The province, in partnership with the Network of Angel Organizations–Ontario (NAO-Ontario), is launching the Impact Angel Alliance. The Alliance will encourage more investors to help kick-start promising, high-growth social ventures in Ontario. This is the first organization of its type in Canada.
The Alliance will work with NAO-Ontario to:
- Raise awareness of social ventures among established angel investor groups.
- Help diversify angel group membership to help bring in more women, visible minorities, and new immigrants.
- Bring together angel groups and non-traditional funding partners to increase co-investment into social ventures in priority areas, such as community health and sustainable craft industries.
- Research emerging trends, challenges and opportunities in impact investing to reduce risk, save time and attract better opportunities.
According to Brad Duguid, Minister of Economic Development:
“We want to encourage investors to target businesses that focus on achieving more than just profits – by placing their money into businesses that also positively contribute to social or environmental benefits in Ontario. Angel investors can help social enterprises grow and succeed, and through our partnership with the Network of Angel Organizations and the Impact Angel Alliance, we are making it easier for social ventures and angel investors to connect, contribute, and make our society a better place to live.”
Which investors are they hoping to attract to the program?
- Angel investors are high net-worth individuals who provide financing to start-up companies.
- About 320,000 high net-worth individuals – with a collective wealth of almost $1 trillion – are estimated to live in Canada.
- The current total Canadian impact investing market is nearly $5 billion. In 10 years, that number is estimated to grow to $30 billion.
- Ontario is home to over 10,000 social enterprises that employ about 160,000 people.
- Network of Angel Organizations – Ontario
- Impact Angel Alliance
- ImpactOntario 2015
- Social Enterprise Progress Report