Funded by FedNor since 2005, Northern Ontario Angels strives to link their network of 400 investors with entrepreneurs throughout the region
The federal government pledged $1.83 million toward Northern Ontario Angels during a media conference in Sudbury on Thursday.
Northern Ontario Angels is a not-for-profit organization led by a board of volunteers, which connects a collection of approximately 400 investors with entrepreneurs in Northern Ontario. The boost in funding in 2020 allowed the organization to expand throughout a greater swath of Northern Ontario, Lane said, as well as hire a director of international development to bring in more foreign investors.
FedNor executive director of programs Lucy Perreault told Sudbury.com that although her organization assists businesses more directly, it’s at a much later stage than when the so-called angel investors come into play. “They’ve attracted more than $250 million in investments since they began, so you can just see the return on investment when you invest in organizations like Northern Ontario Angels.”
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