Ontario, Canada is making it easier for businesses that produce positive social or environmental impacts, along with a sustainable financial return, to grow and succeed.
The province, in partnership with the Network of Angel Organisations–Ontario (NAO-Ontario), is launching the Impact Angel Alliance. The Alliance will encourage more investors to help kick-start promising, high-growth social ventures in Ontario. This will be Canada’s first impact investing angel network.
“We want to encourage investors to target businesses that focus on achieving more than just profits – by placing their money into businesses that also positively contribute to social or environmental benefits in Ontario,” says Brad Duguid, Minister of Economic Development, Employment and Infrastructure. “Angel investors can help social enterprises grow and succeed, and through our partnership with the Network of Angel Organisations and the Impact Angel Alliance, we are making it easier for social ventures and angel investors to connect, contribute, and make our society a better place to live.”
Sean Holt, Executive Director, Impact Angel Alliance, says: “Like any other start-ups, impact ventures need financing to grow. The number of angel investors making impact investments is growing, and we want to make it grow even more. With the support from the government and partnership with NAO-Ontario, we're confident that we can achieve that goal and help to transition impacting investing to greater mainstream awareness and adoption.”
