The world's biggest infrastructure investors banded together recently to launch an advocacy group, called the Global Infrastructure Investor Association. The chairman of the GIIA is Swiss. The CEO is a Brit. Founders included massive funds in Australia, the U.S., Europe and the Middle East.
But when this international crew held their first-ever annual meeting in June, they opted to gather in Toronto. Newly named GIIA CEO Andy Rose, who is based in London, said the decision reflected the fact that when it comes to infrastructure, Canada is where the money lives.
This country is home to the largest and most sophisticated pool of infrastructure investors on the planet. Of the 40 members of the GIIA, no less than eight are Canadian. The list includes CPP Investment Board, the Ontario Teachers, Brookfield, Alberta's AIMCo and Quebec's Caisse. Story
Rising angels
Canadian startups are benefiting from a buoyant market for early-stage investors, but those that get bigger and more successful encounter a serious shortage when seeking larger growth capital venture investments, according to two reports from Canadian early-stage financing organizations.
A survey this week by the National Angel Capital Organization – which represents "angels," or wealthy individuals who invest directly in startups – finds the market for angel investments was "significantly more buoyant in 2015 than in 2014."
According to NACO, 24 local angel network organizations across Canada reported total investments made by their members increased by 18 per cent year-over-year while the amount invested increased by 27 per cent. A total of 32 organizations that reported data for 2015 said their members made a combined 283 investments in 2015 totalling $134-million. NACO reported investment activity by angel groups "has increased substantially, albeit erratically, since 2012."
More significantly, said NACO chief executive Yuri Navarro, is how the angel investing landscape has evolved in Canada. Less than a decade ago, a typical angel investor was a "lone wolf" who might write a cheque of up to $50,000 to a startup, and never invest in the firm again, he said. Average angel investment rounds totalled about $150,000, he said. Story
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Andrew Willis