Mobilizing Angel Activity in Yukon and Emerging Ecosystems

Stakeholders

Recommendations

Timeframe

Implementation Implementation

Angel Fund Founding Members supported by Angel Fund resources and expertise

Secure funding for operational costs to set up and manage the investment fund on a day-to-day basis for an initial period of at least five years: Principal capital investment for the fund could be secured from a combination of sources including government, First Nations Development Corporations, other private corporations, and private accredited investors; and

Once the Angel Group is established and, in a position, to influence fund development

Explore the sharing of expenses and members between the Angel Fund and Angel Group.

Angel Fund Founding Members supported by Angel Fund resources and expertise.

Establish an independent for-profit investment fund (“Fund”).

Once the Angel Group is established and in a position to influence Fund development

This Fund should be professionally managed;

Establish the Board of Directors for the Fund; and

Ensure that the Board has a cross-section of skills and technical expertise, a commitment to support the growth of the economy, and represents the face of Whitehorse. It should draw from backgrounds in accounting, law and information technology, Indigenous leadership, business owner representatives, investors, males, females, youth, and community representatives. I would recommend a Board of seven Directors to start and the ability to have up to 9 or 11 directors.

Angel Fund Founding Members supported by Angel Fund resources and expertise

Retain the services of an outside contractor/fund manager

Once the investment Fund is set up

2.5–3-year engagement to ensure the set-up of Fund and recruit a replacement for the contracted fund manager;

The new Fund Manager will lead the Fund and assess and make investments; and

The Fund Manager will also develop protocols, including the entrepreneur application process, reporting frequency, and structure to stakeholders (limited partners and government).

MOBILIZING ANGEL ACTIVITY IN YUKON