National Angel Capital Organization

Overview

The National Angel Capital Organization (NACO) is the national industry association for angel investors in Canada, representing individual angels, angel groups, family offices, and related organizations. It supports early-stage investing by facilitating networking, education, best practices, and policy advocacy, with its network encompassing over 4,200 angel investors, 45 incubators/accelerators, and 44 angel groups that have deployed $1.54 billion into more than 2,000 companies.¹²

History

NACO was established in 2002 following the second Angel Investor Summit convened by CHIN UP Fund and chaired by Henry Vehovec, who became its founding President and Chair. It was formally incorporated as National Angel Organization (NAO), published key resources like The Primer for Angel Investment in Canada (2002) and Age of the Angel (2007), and changed its name to NACO in 2008. NACO has organized annual summits, launched awards for top angel investments, initiated regional networks like Angel Investors Ontario, and marked milestones such as angel investments exceeding $1 billion by 2020.¹

Notable Products

• The Primer for Angel Investment in Canada - Guide published in 2002 providing foundational advice for angel investing in Canada.
• Age of the Angel: Best Practices for Angel Groups and Investors - 2007 publication outlining best practices for angel groups and individual investors.
• A Practical Guide to Angel Investing, 2nd Edition - 2017 resource offering practical guidance on angel investment processes.

Reputation

NACO is recognized by investors and entrepreneurs as the central hub for Canada's angel investing community, valued for its role in networking, education, and policy influence on early-stage capital. Professionals note its contributions to growing the ecosystem, including summits and deal flow, though some critiques highlight a pay-to-play membership model that may limit accessibility for certain participants.¹²⁴