2021 Report on Angel Investing in Canada

P R E FAC E Cr ea t i ng Pa t hways t o I nves t i ng

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New policy mechanisms have added fuel to the fire by easing restrictions related to who can invest in early-stage, private companies.

investment activity over the long term. NACO is committed to mak- ing educational resources available to active and aspiring investors, es- pecially those outside of major ur- ban centres. To drive this momentum, we must work to introduce entrepreneurs to potential investors and raise the profile of early-stage investing.

New and seasoned investors con- tinue to turn to the acclaimed NACO Academy curriculum which leverages the collective wisdom of over 4000 angel investors, helping participants to attain the knowl- edge and real-world skills needed to thrive in the competitive investment industry. With new investors enter- ing the ecosystem, access to edu- cation is key to ensuring informed decision-making and sustainable

The Alberta Securities Commission and the Financial and Consumer Affairs Authority of Saskatchewan launched a pilot program to expand the accredited investor definition following consultations with NACO and other key stakeholders. And new exemptions related to equity crowdfunding were also announced recently, providing potential entry points for those who are new to startup investing.

202 1 ANNUAL REPORT ON ANGEL I NVEST I NG I N CANADA The Chang i ng Landscape

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