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Spark Angel Network is a group of individual investors whose aim is to build economic growth and sustainability within Durham and Northumberland. As successful individuals, the members have come together to provide private equity investment to early-stage technology and innovative businesses.
Primarily, focusing on firms in the Durham-Northumberland area, the Spark Angel Investment Network enables high net worth individuals to allocate a small proportion (3%, 5%, 7% ?) of their investable assets into a diversified (self-selected) portfolio of early-stage ventures. Becoming a ‘member’ will be of interest to those looking to allocate $25k+ per year to a mix of such private-equity opportunities.
The Spark Angel Investment Network has 2 objectives:
1. To provide private-equity investment opportunities in businesses with explosive growth potential.
2. To provide growth capital to innovative, niche-oriented companies with scalable business models.
The area’s economies are growing and becoming increasingly diversified, and the ecosystem necessary to accelerate growth is largely in place. Anchored by the headquarters for large players such as Ontario Power Generation, General Motors, Enbridge and others, growth is being driven by innovative young and growth companies in sectors such as energy and cleantech, IT, advanced manufacturing, medtech and other knowledge based industries. In addition to growth companies, the University of Ontario Institute of Technology, Durham College, Trent campuses and other institutions are producing an increasingly entrepreneurial cohort of graduates, as well as creating market relevant technologies and business applications.
Over the last several years, organized Angel groups, in Canada, have generated an internal rate of return in excess of 22%. The average investment period is 3 1/2 years and upon exit the average return on investment is 2.6 dollars ‘out’ for every dollar invested ‘in’.