News Summary

Anges Québec has introduced the Elevia Fund, a new co-investment initiative aimed at enabling members and external investors to participate in early-stage funding rounds for Québec-based and Canadian tech startups. The fund seeks to raise between $1 million to $3 million annually from a maximum of 60 investors, with each cycle targeting investments in 8 to 10 pre-seed and seed-stage companies. The initiative is designed to lower the barrier for angel investors by removing the need for in-depth assessments, thus allowing investors to diversify their portfolios with minimal time commitment. Anges Québec, a network comprising over 200 angel investors, collaborates with AQC Capital to co-invest in these ventures. The fund is expected to deploy capital by September, following its anticipated closing in the summer. This effort comes amid a backdrop of declining seed-stage venture deals in Québec, and a national increase in angel investing as reported by the National Angel Capital Organization.