Angel Co-Investment Summit Roundup

November 25th, 2008 posted by raymond
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Last week’s Angel Co-Investment Summit, put together by the NACO, was one of the best investment forums in recent memory. Over 150 active Angel investors (yes, you read that number correctly) heard pitches from 25 companies who had already raised Angel funding.

Here is the list:

Here is a more detailed breakdown of companies and fundraising:

  • 48% were science or medical technology companies, 32% were Web and 12% were telecom based
  • 72% were from Ontario, 16% from BC and the other 3 from Saskatchewan, New Brunswick and Newfoundland. Nothing from Quebec perhaps reflecting what little presence NACO has in Quebec.
  • The median amount companies had already raised was $1.15 million
  • The median burn rate was just below $40k/month
  • The median amount sought was $1 million
  • The median pre-money valuation was $5 million

Overall I was impressed by the quality of the companies, particularly the science and med tech companies who seemed to have great CEOs, unique IP, customer traction and relatively little capital burned. The Web companies in general did not hold up.

If this is what “early stage” investing looks like these days, those entrepreneurs raising seed capital are going to have to work twice as hard to get investors’ attention. In any case, I hope events like this  encourage more deal syndication which would mean more capital available for companies.

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