Angel Investors Ontario/NACO Joint Recognition
Angel Investors Ontario Group Listing Application
Angel Group Charter
All Angel groups, as part of this process, must file a charter with Angel Investors Ontario, signed by the authorized representative. This would be a suggested set of principles and guidelines that follows our eligibility criteria. This is a simple document that will be kept confidential, but is not considered “personal information”. A sample charter, for discussion purposes only and not intended as precedent, can be found here.
You should, in any case, consult professional legal advice.
Please fill out the form below.
1 OSC Rule 45-802 implementing National Instrument 45-106 reference: http://www.osc.gov.on.ca/documents/en/Securities-Category4/ni_20170119_45-106_unofficial-consolidation.pdf
As an eligible Angel group, you will be required to provide quarterly aggregate information to Angel Investors Ontario and NACO regarding:
- The calendar quarter to which the report pertains;
- Number of group members at the beginning and end of the reporting period;
- For each investment during the period, the sector in which the investee is operating, form of investment (e.g. common or preferred shares), and dollar value of investment and whether this is an initial or follow-on investment by the group and number of group members involved in the investment;
- Total dollar investment from investors who are not residents of Southern Ontario and what types of syndicate partners were involved;
- Number of applications received for investment, number of companies on whom due diligence was performed during the period;
- Number of investment opportunities in due diligence at the end of the reporting period;
- Number of "exits" and the form of exit (e.g. sale, bankruptcy)
- Aggregate amount of non-group co-investment or follow-on investment that an invested company has received subsequent to the initial group investment (optional, but desirable);
- Investee company: number of employees at date of investment and at the end of an invested company’s most recent year end (optional but desirable).
I recognize that the terms herein are subject to change.
*DISCLAIMER: NOTHING ON THIS PAGE SHOULD BE CONSTRUED AS LEGAL ADVICE. PLEASE CONSULT YOUR OWN LEGAL ADVICE. ANGEL INVESTORS ONTARIO’S ROLE, WITH RESPECT TO THE MATCHING FUNDS PROVIDED BY THE FEDDEV ONTARIO INVESTING IN BUSINESS INNOVATION PROGRAM, IS CURRENTLY LIMITED TO ACCEPTING APPLICATIONS AND REPORTING WITH RESPECT TO ELIGIBLE ANGEL GROUPS.
As an eligible Angel group, you will be required to provide quarterly aggregate information to Angel Investors Ontario and NACO. This information is reported to governments seeking for research purposes and to measure the impact of Angel investing and funding programs. All reported information that is collected or derived from reporting shall only be reported publicly in aggregate form.
All collected information will remain confidential and will only be shared with those who have a reasonable need for the purpose of analyzing and reporting on the data. Please note that only the authorized representative(s) of the organization will be communicated with directly, and any communications/information requests to their members (e.g. statistics requests) will be sent through them unless their members have opted into our communications.
You will also be required to re-affirm the information provided upon application and provide supporting documents (including affidavits) on request, annually or as required, from time to time, by Angel Investors Ontario.
Any data that is transferred to Industry Canada for the purposes of analysis will have investee company names and addresses anonymized to protect their identity and will not include the names or addresses of the Angel group(s) or individual investors associated with the reported Angel investments.
Data, not including the names or addresses of the Angel group(s) or individual investors associated with the reported Angel investments, may also be shared with Statistics Canada for the purpose of detailed analysis, such as to measure the performance of Canada's risk capital markets. This type of analysis can have a positive impact on the development of future programming. Any survey data released to Statistics Canada would be protected by Statistics Canada's stringent confidentiality policies, which are described on the following webpage: http://www.statcan.gc.ca/eng/reference/privacy-privee-eng.