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Benefits and Risks

Angel investing can be  very rewarding personally and business wise.  It is very different from traditional investing and comes with some unique benefits and risks



  • High  investment returns
  • Attractive tax incentives
  • Support local entrepreneurs with advice and money
  • Contribute to innovation
  • Learn from other angel investors


  • Early stage investment are high risk and illiquid
  • Start-ups have a high rate failure
  • The path from start-up to successful exit is uncertain
  • Dramatic up and down swings or down rounds

The Pillars of Angel Investing


  • Time spent on due diligence translates in better investment outcomes.
  • Investors who spent more than 40 hours saw a 7.1 multiple, 20 hours a 5.9x and less than 20 hours a 1.1x.
  • High industry expertise in the area of the invested venture delivered twice the returns.
  • A higher interaction with portfolio companies delivers a higher exit of 3.7X.  A lower interaction of a couple of times per year delivered 1.3X.

Source: *Returns to Angel Investors in Groups, Wiltbank and Boeker, November 2007


Angel Investment Returns (2016)

  • Angel groups average 2.5X return (22% IRR) and 4.5 years before exit..
  • 30 percent of exits returned more than the original investments.
  • 10% of all exits generated 85% of the returns
  • Bigger wins take 9-10 years to exit

Tracking Angel Returns, Wiltbank and Brooks, November 2016






Angel Investment Returns (2007)

  • Angel groups average 2.6X return (27% IRR) and 3.5 years before exit.
  • 48 percent of exits returned more than the original investments.
  • 7% of exits returned more than 10x the money invested and accounted for 75% of the returns.

Returns to Angel Investors in groups *Wiltbank and Boeker, November 2007





Angel Investing Facts & Figures

2015 Angel Investing in Canada

  • 32 Angel groups and 1,650 active angel investors
  • 283 Investments totaling $133.6 Million
  • 28% of investments were in Western Canada
  • 75% of the deals syndicated with outside capital
  • 57% of syndicated deals with other Angel investors

Download Angel Investing in Canada 2015 by
NACO – National Angel Capital Organization

 2014 Angel Investing in United States

  • 240+ Angel groups and accredited platforms
  • 13,000 active angel investors
  • 73,000 Investments totaling $24.1 Billion

Download Angel Investing in US 2015 HALO Report by
ACA – Angel Capital Association

If you’re a new angel, and you don’t make a number of investments that gets to a portfolio effect, you’re likely not going to be an angel for long, because losses will happen before winners.”  – David Verrill in Startup Wealth by Josh Maher

The Angel Investing Process

Early stage investments can provide excellent returns when properly selected and managed. Angel investing requires a different approach than traditional investing. Joining and Angel Investment fund is a great way to get familiar with the unique opportunities, risks and rewards of angel investing.

Our team of investors follows a multi-stage process to identify and screen the most promising local companies that meet E-Fund’s investment criteria.

Try to minimize the impact of mistakes. Don’t write too big of a first cheque. Start learning about what can go wrong.” – Rudy Gadre in Startup Wealth by Josh Maher


 Learn more about Angel Investing

  • Meet with an E-Fund Investment Team or Board Member
  • Join an E-Fund Event or Workshop or monthly VANTEC Angel Network meetings
  • Subscribe to our E-Fund Angel Investing Newsletter and get notified for upcoming workshops and events


Sign Up for our Angel Investing Newsletter