EIF (European Investment Fund)
An agency of the European Union providing financial support (equity, debt, and guarantees) to innovative small and medium-sized enterprises (SMEs). EIF typically operates through a fund-of-funds approach, supporting venture capital and private equity funds focused on innovative or emerging sectors.
Channel conflict
A situation in which multiple investment channels or organizational roles within a single institution (such as direct investment versus indirect via fund-of-funds) compete or overlap, potentially causing inefficiencies or confusion among partners, investees, or within internal strategy.
____________________________________________________________________________ About National Angel Capital Organization (NACO) Established in 2002, NACO is Canada’s professional association representing over 4,000 angel investors, serving as the national umbrella for more than 100 member organizations—including angel groups, venture funds, incubators, and accelerators. Collectively, NACO members have invested more than CAD $1.66 billion into over 2,000 Canadian ventures. Angel investors are individuals or funds deploying capital at the earliest stages of growth. They include limited partners (LPs) investing in venture funds, family offices backing pre-seed and seed-stage ventures, and individuals investing directly or through angel groups. High-growth companies backed by angel investment that went on to achieve significant global scale include Slack (British Columbia), Verafin (Newfoundland and Labrador), Wealthsimple (Ontario), Hopper (Québec), and Jobber and Neo Financial (Alberta). Recent standouts include CoLab (NL) and 7shifts (Saskatchewan). These successes illustrate how angel investment drives Canada’s pipeline of innovative ventures, fueling future global success stories. Learn more at nacocanada.com Vision 2040 is a strategic initiative by the National Angel Capital Organization accelerating the supply, deployment, and momentum of capital to position Canada as the best place in the world to build high-growth companies. To participate, get in touch at vision2040@nacocanada.com .
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