FOR IMMEDIATE RELEASE
October 6, 2016
Winner of Canada’s top angel investing award honoured at the National Angel Capital Organization’s annual conference
Toronto, Canada – The National Angel Capital Organization (NACO) is proud to announce Manny Padda as the recipient of the 2016 Canadian Angel of the Year Award.
Presented by BDC Capital, the award seeks to identify the individual angel investor who has most contributed to the growth and development of angel investing in Canada through a combination of investment, mentorship, and leadership within their local ecosystem.
This year’s award recipient, Manny Padda, is the Founder and Managing Director of New Avenue Capital, a global firm that focuses on venture capital, recruitment, private lending and real estate, and social venture and philanthropy. A self-made entrepreneur, Manny built his first multi-million-dollar company at age 26. He is also a co-founder of GradusOne, an organization that connects students and new graduates with mentors and provides them with resources to help them refine their career path and achieve success.
“The angel investment space has grown significantly in Canada over the past five years and has become an important segment of the early stage startup ecosystem,” said Alison Nankivell, Vice President, Funds and Co-investments at BDC Capital. “BDC Capital is sponsoring this award to applaud the role angels play in launching Canadian companies as well as to highlight exemplary approaches to angel investing.”
“I am honoured to receive this reward from NACO. The Canadian Angel community along with NACO has been a champion for start-ups and I look forward to investing with other angels in the years to come,” commented Manny Padda.
Manny was recognized and honoured at NACO’s 2016 National Angel Summit in Vancouver on October 5th, 2016. The award was presented by BDC Capital during the Gala Awards Ceremony.
For more detailed data and/or to arrange an interview with NACO’s CEO Yuri Navarro, please contact:
About the National Angel Capital Organization
The National Angel Capital Organization accelerates a thriving, early-stage investing ecosystem in Canada by connecting individuals, groups, and other partners that support Angel-stage investing. NACO provides intelligence, tools and resources for its members; facilitates key connections across networks, borders and industries; and helps to inform policy affecting the Angel asset-class. For more information, please visit www.nacocanada.com or follow us on Twitter @AngelCapCanada.
About BDC Capital
With more than $2 billion under management, BDC Capital is the investment arm of BDC, serving as a strategic partner to Canada’s most innovative and high potential firms. It offers a range of equity, venture capital and flexible growth and transition capital solutions to help Canadian entrepreneurs scale their businesses into global champions. To find out more, visit bdc.ca/capital
Canadian Angel Investors
- 32 Angel groups across Canada, representing 1,650 active Angels made 283 investments amounting to $133.6 million.
- NACO angel groups increased their investment dollars by 47.6% in 2015 from 2014’s $90.5 million to $133.6 million.
- A majority of Angels (67%) are located in Central Canada, with 28% in Western and 5% in Eastern Canada.
- The average deal size was $1.16 million, stabilizing around 2014 figures.
- 63% of funding falls within 2 sectors: ICT (information-communication technology) and Life Sciences (health related companies).
- 75% of the deals are syndicated, involving capital outside the Angel group and receive more investment.
- 57% of syndicated deals involved syndication with other Angel investors, 9% involved syndication with Venture Capital.
- 12 positive exits were recorded of which six were M&As, two were an IPO, and four were sales to new or existing shareholders.
- Central Canada continues to be the hotspot for Angel investment activity with 71% of investments made in the area.
Funding Success Funnel in 2015
- 4473 startups applied for Angel Funding
- 1139 companies presented*
- 407 companies went through due diligence
- 283 companies were funded