Creating an investment “bible” for Angels in Ontario is akin to herding lions naked. At best, it’s a highrisk undertaking that leaves one exposed in a variety of vulnerable spots. Angels, active or passive, are by temperament rugged individuals, seasoned entrepreneurs who have forged businesses, commercialized innovation, and built enduring organizations. They are the last and perhaps best bastions of enlightened capitalism in Canada. As such, they are not lightly influenced nor easily persuaded by vague theories or unproven practices.
That is why this manual is meant to be strongly prescriptive rather than mildly descriptive. It is based on best practices, and written principally by Angels for Angels. This does not mean that it has everything right or that one size fits all. Formal group Angeling, after all, is a relatively new and evolving discipline, which has developed rapidly in Ontario over the past several years.
But from extensive research on successful Angel groups in North American and beyond, the authors of this manual have aggregated the principal processes that work in the best interests of investors and entrepreneurs. They have focused on the science of the probable rather than on the art of the possible. In doing so, the authors recognize that there are counterpoints to many of the assertions contained in this document and, given the personality of individual Angels and Angel group members, many of these differing views have a measure of validity. However, the authors of this handbook have chosen to side with the weight of empirical evidence and present a majority viewpoint.