Capital Angel Network (CAN) is the largest early-stage investor group in the National Capital Region and one of Canada’s most active angel groups.

The membership is made up of more than 50 Angel Investors, VCs, Family Offices, fund managers and corporate members. 35% of CAN members include a woman.

Over the past three years, CAN members invested $25M into Pre-seed, SEED and Series A startup rounds across Canada and primarily along the Montreal-Waterloo investment corridor.

From 2021 to 2023,  an average of 45 % of first time direct investments were placed with women founded and co-founded startups. CAN members deliver more than $1M value annually in volunteer mentorship via the founder community, portfolio relations, investor readiness and partner programs.

Since inception in 2009, CAN Members invested $82M into more than 200 companies. a majority of direct investments are made into Gatineau, Ottawa and Kanata area startups.

This funding has led to half a billion dollars in additional investment through grants, syndication with other angel groups and venture capital funds.

Investment Focus

Most startups successful in closing investment with CAN members have previously received government grants and/or family & friends investment. Depending on the vertical, most funded businesses have signals of traction, like being in market with a product or MVP, demonstrating customer appetite and commitment.

Most companies seeking investment from CAN are raising a round between $500K & $2M.

CAN has invested in a diverse portfolio of companies ranging from a food waste recycler, to a virtual reality system for surgeons,  to a quantum deep tech solution.  

The background and interests of CAN members evolve with make up of the group, and market opportunities.  The CAN Portfolio primarily consists of: B2B/Enterprise Software, Cleantech, SaaS, Deep Tech, Artificial Intelligence, Cybersecurity, Life Sciences & Health Technology, Agriculture Technology.

Community - Collaboration & Leadership

CAN actively engages and supports the Gatineau, Ottawa, Kanata and Innovation Corridor startup ecosystem - from Montreal to Waterloo. Leaders and members volunteer and integrate directly with incubators,  accelerators, and funders.  Ontario's 17 Angel Groups are closely connected under Angel Investors Ontario and frequently collaborate and share deals.

CAN hosts the Capital MASHUP mini-festival each year bringing 150 - 250 community leaders together in celebration of entrepreneurs. In Jan through February each year CAN delivers CANLABS - an investor readiness masterclass series for accelerator alum  across Canada.

The CAN Process

Scouting & Applications

45- 60 companies from across Canada apply for CAN investment on a monthly basis. They are scouted from awards and accelerator graduate lists, media stories and from close collaboration with leading accelerators across the innovation corridor and our sister Angel groups across the province. We also receive applications from all coasts.

Screening

Applications are reviewed by The Screening Committee and the most promising six companies are invited to present digitally to The Selection Committee.

The best fit top three companies are invited to present at a Member Investment Meeting - in person or digitally.

Member Meeting Presentations

High-quality investment opportunities with strong potential for returns are presented to the membership monthly (Sep - Nov, Jan-Jun)

Following the Investment Meeting presentations,  members indicate their interest in moving forward and learning more. When there's interest, a longer presentation called a Deep Dive allows for a deeper appreciation of the investment opportunity is organised.

Deep Dive

Startups with at least four interested investors are requested to share their data room on Dealum and invited to a Deep Dive, a 60-90 minute extension of the pitch.  Founders may invite key team members to this presentation.  At the end of the Deep Dive discussion, investors huddle to determine interest in moving forward to Due Diligence. At this phase of the process, the CAN ED or founder champion may share the deal with other Angel groups expediting the round close.

Due Diligence

Investors determine their DD priorities and share tasks according to their expertise and interests. If a product demo hasn't been provided, this is likely to be requested. Due Diligence will remain incomplete until deal terms are available.

Soft Circled

At the DD stage investors indicate their initial investment interest on Dealum (pending Due DIligence results) and the group interest is shared with the startup as "soft circled" so space in the round can be held for CAN investors.

Commit

Upon completion of Due Diligence, investors either move to commit or opt out of the deal and indicate their intentions on Dealum. CAN will advise the founder, providing a list of investors and investment figures, and founders directly wrap up the paperwork directly with investors.

Portfolio Companies

Founders advise CAN of when their rounds close and the final investment details from CAN investors. They often mention CAN in their press releases and their logo is placed proudly on CAN's website as part of our portfolio.