NEW ANGEL GROUP LAUNCHES TO INJECT EARLY-STAGE CAPITAL INTO WESTERN CANADA TECH STARTUPS
A new angel organization has formed with an aim to expand access to capital for early-stage tech entrepreneurs in Western Canada. This week, Calgary-based Allied Venture Partners announced the official launch of its angel investment group.
Allied Venture Partners will make seed-stage investments across North America, with a focus on Western Canadian tech startups. The idea, the angel group says, is to provide local investors with more diversification and access to high-potential deal flow opportunities.
“We believe this current environment presents a unique and highly attractive opportunity to plant the seeds for significant asymmetric value-capture over the ensuing decade as companies are forced to become increasingly resilient,” said Matthew Wilson, founder and managing director at Allied Venture Partners. “Now is the best time this decade to invest in early-stage technology startups.”
So far, 51 other angel investors have joined the group as members. The group has been adding approximately three to five new members each week since September, Wilson added.
Allied Venture Partners will operate on the AngelList platform. The group will only invest in pre-Series A startups that have a minimum runway of at least 14 months following the capital raise.
With a focus on software and technology startups that have built a minimum viable product, Allied Venture Partners is also looking for companies that have begun generating cash sales from outside customers.
The group’s cheque size will range from $100,000 to $250,000, though it may invest more depending on the deal.