Maple Leaf Angels
Investor Members
Money isn’t the only motivator. For many of us, it is a way to give back to the community, to help build the next generation of successful entrepreneurs.
Connecting Experienced Investors with Passionate Entrepreneurs
membership benefits
- Introductions to Canadian startups
- Opportunity to mentor early-stage companies
- Angel investing education
- Network with like-minded individuals from diverse industry backgrounds
- Access to a supportive environment for domain expertise & mentoring
- Personal growth – Advisory Board or Board of Director roles with your investees.
Activities for MLA Members
- Monthly Member Investment Meetings & Networking Reception
- Weekly Office Hours
- Mentoring Events
- Annual General Meeting
- Annual Holiday Party
- Ecosystem Events
- Happy Hour Meetups
Board Committees open to MLA members
- Investment Review Committee
- Marketing & Membership Committee
- Sponsorship Committee
- Audit & Finance Committee
- Nomination & Governance Committee
- Entrepreneurship Support Committee
MLA Membership Requirements
Membership in MLA is open to individuals who are “Accredited Investors” and “Self-Certified Investors” as defined by the Ontario Securities Commission (“OSC”) in NI 45-106 and the OSC’s Ontario Instrument 45-507, respectively. The recently introduced ”Self-Certified Investors” category expands eligible investors under prospectus exemptions to individuals meeting certain criteria demonstrating financial and investment knowledge to make investment decisions who may otherwise not meet the financial thresholds to qualify as an Accredited Investor. To find out more about whether you would qualify as an Accredited or Self-Accredited Investor, see below.
Angel Investors are Accredited Investors and Self-Certified Investors that make their own direct investments (usually in a group) into a private company (usually a “startup”) in exchange for equity (common shares or preference shares), debt or other terms. Visit NACO Academy here.
Who Are Accredited Investors?
Once an individual has financial independence through sufficient income, real estate, mutual funds, publicly- traded stocks, bonds, T-bills, sale of a business or other financial investments, they are called “Accredited Investors” and are eligible to make direct investments into Private Companies outside of the normal Public Stock Market (such as Private Equity and other financial instruments open to High Net Worth Individuals making significant investments).
An “Accredited Investor” is defined by the OSC as follows according to Rule 45-802:
- An individual whose net income, before taxes, exceeded $200,000 in each of the two most recent calendar years, or whose net income, before taxes, combined with that of a spouse exceeded $300,000 in each of the two most recent calendar years, and who, in either case, reasonably expects to exceed that net income level in the current calendar year;
- An individual who, either alone or with a spouse, beneficially owns financial assets having an aggregate realizable value that before taxes, but net of any related liabilities, exceeds $1,000,000;
- Corporations, limited partnerships, trusts or estates having net assets of at least $5 million.
Who Are Self-Certified Investors?
In 2022, the category of eligible investors under prospectus exemptions was expanded beyond income and net worth associated with the Accredited Definition to include individuals with the professional experience and educational backgrounds to make informed investment decisions. Self-Credited Investors must meet one of more of the following qualifying criteria set out in the Self-Certified Investor Prospectus Exemption:
- Professional Designations: CFA, CIM, CBV, CPA, CIWM, CFP, Financial Planner or Financial Advisor credential
- Educational Qualifications: Advanced degrees (MBA, undergraduate commerce degree with focus on finance or accounting
- Practices law in Canada and at least 1/3 of the practice involves providing advice in respect to financing, and mergers and acquisition transactions
- Examination Criteria: Passed one or more of the following examinations:
- the Canadian Securities Course;
- the Series 7 Exam and the New Entrants Course;
- Exempt Market Products Course;
- Canadian Investment Funds Course; and
- Investment Funds in Canada Course
Note: Exempt investments by Self-Certified Investors can not exceed $50,000 in aggregate, any calendar year.
For the complete list of definitions and other relevant information, please refer to the OSC’s Rule 45-802 (National Instrument 45-106) and Ontario Instrument 45-507 Self-Certified Investor Prospectus Exemption (Interim Class Order)