Collaborating with the federal government, NACO produces various research reports and public policy initiatives throughout the year.

NACO Initiatives 

  • Leading national data collection and aggregation on Angel investing in Canada through our Angel Activity Reports
  • Identifying, standardizing, and sharing industry best practices from Angel groups and other ecosystem partners across the country
  • Working with and supporting our members to promote relevant Angel industry information, news and events

Reports on Angel Activity in Canada

The annual Report on Angel Investing Activity in Canada is NACO’s most prominent research initiative. Each year, the report analyzes national Angel investing trends and delivers comprehensive insights to our stakeholders of how the Canadian Angel investing landscape is evolving, helping them better understand the future of the Angel ecosystem.

2016 Report on Angel Investing Activity in Canada

In partnership with Industry Canada, BDC Capital, RBC, and Ryerson Incubate and Innovate Network Canada, NACO published its seventh annual study measuring Angel capital and Angel investment activity in Canada. The primary function of the report is to gather aggregate data on Angel activity in Canada, to highlight trends and to provide the Angel community with a benchmark of performance for comparison with peers internationally. NACO uses the aggregated results of the survey to assist in the formulation of evidence-based policy actions to support the needs of our Angel investment community and the companies they invest in.

2016 Report

Early Stage Funding

NACO's newest research initiative covers the broader early-stage funding opportunities for entrepreneurs in Canada. By engaging all types of organizations that support startups across the country, this report provides a wider perspective on opportunities for funding and support as well as the general state of the startup ecosystem.

2015 Report on Early-Stage Support for Canadian Companies

This new report builds on the NACO Report on Angel Investing Activity in Canada to examine the contrasting perspectives of key players in the industry. It draws on and integrates the results of surveys administered to 10 incubators, 17 accelerators, 24 Angel groups, 8 venture capitalists and 54 entrepreneurs, as well as other data collected by NACO. This is the first in what will be an annual report for years to come.

2015 Report

Public Policy


NACO is the champion of the Angel asset class in Canada, and as such represents the interests of all Angel investors across the country. Through several public policy initiatives, NACO represents Angel asset class issues of national significance, assumes a leadership role in areas requiring national coordination and support, and promotes the Angel asset class to the general public in Canada and abroad.

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Angel Investment Dashboard


In an effort to provide value to NACO members, an interactive dashboard based on investment data they provided is accessible through the member portal. The dashboard provides members access to NACO’s aggregated database while allowing them the flexibility to perform some analysis of their own. The investment data is updated regularly, making the dashboard more dynamic than the Angel Activity Report.



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