National Angel Capital Organization (NACO)

The National Angel Capital Organization (NACO) is Canada's national industry association for angel investors, established in 2002. Headquartered in Toronto, Ontario, NACO's core business is to mobilize private capital to foster a self-reliant and prosperous nation of builders. Its mission is to strengthen Canada's innovation economy by professionalizing and accelerating the growth of angel capital and supporting early-stage companies, thereby ensuring the sustainability of the national innovation ecosystem.

NACO provides a range of services including mobilizing risk capital at critical early stages, engaging in policy and advocacy to shape federal and provincial policies affecting the angel capital asset class, and offering community and intelligence through tools, resources, and connections across networks and industries. The organization also represents Canada on the international stage, sharing best practices and facilitating global investment opportunities. NACO supports its members, which include over 4,000 individual investors and more than 100 member organizations like angel networks and early-stage venture funds, through catalyst programs focused on education, mentorship, and deal flow.

Claudio Rojas serves as the Chief Executive Officer of NACO. The organization actively engages in policy discussions, notably advocating for the federal government's $750 million commitment to early-stage capital, urging its focus on nascent startups to address significant funding gaps. Recent reports from NACO have highlighted a dramatic decline in angel investment in Canada in 2023, marking the second consecutive year of decrease and raising concerns about the country's economic vitality. In 2026, NACO announced the selection of 27 high-potential ventures for its Moonshots Showcase at the NACO Summit.