Ottawa’s Capital Angel Network injected $11.7 million into local companies in 2012 and are looking to do more of the same this year with the help of two new board members, the local group announced Monday.
Scott Lake is the founder and CEO of Source Metrics.
The network, led by Laurie Davis and Parm Gill, is an alliance of approximately 100 angel investors in Ottawa that work together, but make individual investment decisions.
Capital Angel Network will continue to pursue seed and early-stage investments in mobile, Internet-based companies, big data, cloud and enterprise solutions companies in the Ottawa area and abroad, the network stated in a release on Monday.
That network now includes two new board members.
Yves Tremblay has been a local angel investor since 2001 and has invested in more than 20 companies. In 1988, he co-founded Fitel-Photomatix which was bought by JDS-Fitel (now part of JDS Uniphase Corp.) in 1998.
“As a long-time entrepreneur, I’m especially excited about joining the CAN board,” Mr. Lake stated. “I think that Ottawa has strong startup and angel communities and I’m looking forward to helping bring both of them closer together.”
At an event hosted at Shopify in November, Mr. Davis said that the network has invested $14.7 million into 17 companies during the 14 month period prior to the event.
The Capital Angel Network meets about nine times a year, at which time up to three companies present proposals to angels in attendance.
Last June, the network secured a $50,000 commitment from the federal government which it said would be used to expand its local membership base and increase its number of outreach activities.