Public Policy

NACO works with Angels across Canada to collect insights and produce whitepapers to help guide public policy that encourages further investment in early-stage companies.

NACO Response:

Tax Planning
Using Private


NACO has worked diligently over the summer, with its partners to analyze the proposed changes to Canadian Controlled Private Corporations (CCPC), in order to understand the impact they may have on Angel investors, and our domestic innovation ecosystem more broadly. 


Download NACO Response

Innovation Policy:

Stimulating Investment in Canadian Ventures


NACO is proud to publish its first whitepaper with the objective to promote policy initiatives intended to increase the number of successful startup companies, jobs, and wealth creation by supporting early stage capital investment provided by Angel investors in Canada.

NACO suggests the following policy initiatives:

  • Provide incentives for Angels to increase the supply of investment capital
  • Eliminate deemed benefit on insurance of CCPC founders' shares or stock options to employees


Download Executive Summary


Download Full Report




House of Commons Standing Committee on Finance


As the national industry association for Angel investors, NACO is able to leverage the knowledge, experience and networks of its membership to support Canadian early-stage investors. While NACO is establishing long-term, sustainable funding through membership fees, corporate partners and events, achieving organizational growth objectives will require near-term support from government.

NACO recommends the following:

  • Funding a nationally-coordinated network supporting Angel investment
  • Refinancing existing programming supporting Angel investor networks and supporting the priorities of the committee


Download Submission


Download Accompanying Graphic

NACO Response:

OSC Staff Consultation Paper


NACO was asked to respond to the OSC's Consultation Paper 45 710: Considerations for New Capital Raising Prospectus Exemption, which deals with proposed changes to the definition of an accredited investor, creation of education or experienced based exemptions,  crowdfunding as a concept, among others.


Download NACO Response