A syndicate is a way to invest in technology startups. Syndicates are led by experienced technology investors and financed by institutional investors and sophisticated angels. Syndicates are private.
Ontario investors can participate by applying to back a lead or lead a syndicate themselves. In the near future, syndicates will be open to all provinces.
Silicon Valley startup funding powerhouse AngelList is coming to Canada, announcing it has received regulatory approval to launch a platform in Ontario that will provide early-stage financing to startup companies.
You need to meet one of the following requirements:
You have had more than CDN $200,000 of income in each of the last two years and expect to exceed that income level this year, or you had more than CDN $300,000 income combined with your spouse in each of the last two years and you expect to exceed that income this year.
You have, either on your own or with your spouse, more than CDN $1M of financial assets.
You have more than CDN $5M of financial assets.
You have either on your own or with your spouse, net assets of at least CDN $5M.
The startup is founded by an experienced founder. Or, the startup has received funding from a government program within the last three years. Or, the syndicate lead or another investor in this round is a Credible Investor and the syndicate and the Credible Investor are investing on the same terms. Credible Investor means an investor that meets one of the following criteria:
A venture capital fund that has at least $10 million in assets under management, or
An individual investor who has led or participated in at least five investments in a Start-up, if at least two of those Start-ups have completed a successful liquidity or financing event; or
The startup is founded by an experienced founder. Or, the startup has received funding from a government program within the last three years. Or, the syndicate lead or another investor in this round is a Credible Investor and the syndicate, and the Credible Investor is investing on the same terms.
Notable co-investors: There should be a reputable angel or VC participating or leading the round. They should be making a significant, new investment in the company.
Domain expertise: The company is in the lead’s area of expertise.
Technology companies: Generally avoid retail, content, CPG, gaming, or pure e-commerce businesses. Conflicts: Disclose conflicts, such as owning advisory shares or having relatives at the company. Investors may have a higher bar in such cases.
Bridge/extension rounds: The company should be gaining at least 12 months of runway from the round.
Approved Incubator Programs are programs that meet specific requirements and that have been approved by the OSC. Startups that are in or have been part of these programs do not count towards the 500 accredited investors limit. Next Canada and CDL are Approved Incubator Programs.
Please contact Alex at firstname.lastname@example.org and he will work with you.
Nothing on this website should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by AngelList Advisers, LLC (“AngelList”) or any third party. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You will only be able to invest via AngelList once you are registered as sufficiently sophisticated and have agreed to certain other terms and conditions. All securities involve risk and may result in loss, and startup investing is particularly risky and may result in total loss. Start-up investing also involves other risks including illiquidity, lack of due diligence, dilution, risk of changes to the start-up’s plans, markets and products, lack of recommendations or advice, limited or no initial ongoing information, and potential conflicts of interest. AngelList is not resident in Canada. The head office and principal place of business of AngelList is San Francisco, California. All or substantially all of the assets of AngelList may be situated outside of Canada. There may be difficulty enforcing legal rights against AngelList because of this.