As the steward of Angel intelligence in Canada, we are conducting various research initiatives to support Angel investors and foster the growth of early-stage companies. These initiatives include:

  • Leading national data collection and aggregation on Angel investing in Canada through our Angel Activity Reports
  • Identifying, standardizing, and sharing industry best practices from Angel groups and other ecosystem partners across the country
  • Working with and supporting our members to promote relevant Angel industry information, news and events

Reports on Angel Activity in Canada

Our most prominent research initiative is the annual Report on Angel Investing Activity in Canada. This report analyzes the trends of Angel investing in Canada each year and helps us deliver to our stakeholders a picture of how the Canadian Angel investing landscape is evolving. This helps our members and other stakeholders look into the future direction of the Angel investing community.

2016 Report on Angel Investing Activity in Canada

NACO, in partnership with Industry Canada, BDC Capital, RBC, Ryerson Incubate and Innovate Network Canada, published its seventh annual study measuring Angel capital and Angel investment activity in Canada. The primary function of the survey is to gather aggregate data on Angel activity in Canada, to highlight trends and to provide the Angel community with a benchmark of performance for comparison with peers internationally. NACO uses the aggregate results of the survey to assist in the formulation of evidence-based policy actions to support the needs of our Angel investment community and the companies they invest in.


Read Our Previous Reports:

For more information on the Reports on Angel Investing Activity in Canada, please visit our Angel Activity Reports page.

2015 Report on Early-Stage Support for Canadian Companies

For several years, the annual NACO Report on Angel Investing Activity in Canada has provided a perspective on the key statistics and trends in the visible Canadian Angel capital market as measured by the activity of Angel Groups. This new NACO Report is the first to consider the wider early startup investment ecosystem in Canada, examining the contrasting perspectives of its key players. It draws on and integrates the results of surveys administered to 10 incubators, 17 accelerators, 24 Angel Groups, 8 venture capitalists and 54 entrepreneurs, as well as other data collected by NACO as part of the Angel investing activity studies. This is intended to be an ongoing annual study.

Angel Investment Dashboard

In our effort to provide value to our members, we have created an interactive dashboard based on the investment data provided by our members. The dashboard provides members access to NACO’s aggregate database while providing them the flexibility to perform some analysis on their own. The investment data is updated regularly and hence the dashboard is more dynamic in nature than the Angel Activity Report.

Access the Dashboard