Briefing

Investors announce second-largest angel network, with focus on tech

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Equation Angels will consist of 200 investors from three southern Ontario-based angel groups: the Golden Triangle Angel Network (Kitchener-Waterloo), Angel One (Burlington) and Southwestern Ontario Angels (London). Jess Joss, previously executive director at York Angel Investors, will lead the alliance. (The Logic)

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Talking point: The three groups that make up the alliance focus on early-stage tech companies—collectively, their existing portfolio covers a wide range of sectors within the industry, from Big Data to health and social media. The network is promoting itself as a catalyst for Canada’s transition from a resource-based to tech-based economy. But Canada’s tech sector faces major challenges before it can claim a major part of the country’s GDP—last year, my colleague Zane reported on an internal government document that cautioned Canada’s tech sector was falling behind the rest of the world. Among the challenges it laid out was the outsized role of subsidiaries of foreign companies in the sector—an issue a stronger domestic investor presence could help address.