AngelList is open to all accredited Canadian investors with knowledge and/or experience in investing in early-stage tech companies.
However, our Canadian regulators have certain requirements for Canadian investors closing into US deals on AngelList.
All deals must be comprised of Quality Investors and the Fund Lead(s) must be Credible Investors. Portfolio companies receiving investment must be an Eligible Start Up that is operating or doing business in Canada.AngelList has implemented a $5,000 USD minimum investments for Canadian LPs investing in SPVs and RUVs. This decision is driven by the increased regulatory costs of making filings and reports through the new Canadian regulatory platform, SEDAR+. This new minimum is necessary to ensure Canadian investment amounts are economically viable for the fund after factoring in the increased regulatory and third-party filing costs.
In addition to the above requirements:
For Syndicates, Rolling Funds, and Venture Funds:
The Fund lead must have a certain amount of “skin in the game” by committing a specific amount of their own funds— a minimum of either $10k USD or 2% of the allocation (whichever is lower). Note that you can satisfy this Canadian “skin-in-the- game” requirement via a commitment from your fund if you separately have a personal commitment to such fund of $5,000 or 1% of the total fund size, whichever is less. There are exceptions to these Canadian skin-in-the-game requirements, such as when the valuation is sufficiently high and certain co-investors are present. Reach out to your account manager if you have questions about the specifics.
For Roll Up Vehicles:
"Skin in the game" requirements do not apply to RUVs as long as the deal complies with other OSC requirements.