Northern Ontario Angels Bring $50 Million to Economic Action

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Strong Benefits from Northern Ontario Angels

THUNDER BAY – BUSINESS – Are you a business owner with an idea? Looking for the help to get that idea off the ground? Then the Northern Ontario Angels might be just what the business person ordered.

Northern Ontario Angels (NOA); a not-for-profit corporation that facilitates business deals between entrepreneurs and accredited angel investors, ranks 1st in Canada for the number of investments closed in 2015, it announced today.

Are they investing in the North? With 139 total deals now completed, NOA has now achieved $50 million in investment capital flowed to Northern entrepreneurs.

The National Angel Capital Organization’s (NACO) 2015 Report on Angel Investing Activity in Canada looked at 32 angel investment organizations across the country and reveals that angels in Northern Ontario contributed more investment capital into regional entrepreneurs and businesses than any other similar network in Canada.

“$50 million signifies an enormous amount of investment capital flowed into our Northern Ontario economy by private investors;” says NOA Executive Director, Mary Long-Irwin.

Northern Ontario Angels Top Network in Canada

“NOA is proud to be the number one Angel Network in Canada but most importantly, we are proud of the increasing economic capacity, opportunities and impact that angel investing is bringing to the region. Today, investments are being made in diverse sectors from technology and manufacturing to real estate and entertainment. Almost all of the $50 million comes from local investors, directed to local entrepreneurs, to build local businesses across the North.”

Also reported today were some of the results generated by $50 million in investment capital. Key socio-economic impacts are:

  • 139 investment deals closed totaling $50 million
  • 1,324 full time equivalent positions created
  • 378 full time equivalent positions maintained
  • A total of $91 million in management and staff salaries generated.

Northern Ontario Angels is supported by various community partners across Northern Ontario and is funded with support from FedNor.

“We encourage innovators, entrepreneurs and high-growth businesses to get in touch with our organization. For those seeking additional capital or business mentorship to take their business to the next level, we have a network of angels ready to help,” says Long-Irwin.