Great Lakes, Ontario angels partner to create Nouveau Angel Capital

Legions of North America's angel investors are reaching across the border in Metro Detroit/Windsor to facilitate cross-border investment and create more opportunities on both sides of the Detroit River.

Great Lakes Angels, a group of Metro Detroiters who invest in promising start-ups, is teaming up with its peers in Ontario to create Nouveau Angel Capital. Nouveau is French for "new water." It will be based in Windsor and listed on the Toronto Stock Exchange.

"That was so companies that need investment can get an audience on both sides of the border," says Rick Galdi, president of Great Lakes Angels.

The new conglomerate will also try to access public funds, creating a bigger checkbook and an easier way to facilitate efficiency. The four principal investors expect to send out an IPO later this year, with the idea of bringing another 200 angels into the fold.

Angel investors are wealthy individuals who put significant sums of money (think six figures and up) in promising start-ups. These usually precede larger investments, such as those coming from venture capital firms.

Great Lakes Angels, based in TechTown, is made up of about 20 of these angel investors. The group has helped spur investments ranging between $250,000 and $500,000 apiece in about a dozen companies since its founding in 2002.

Source: Rick Galdi, president of Great Lakes Angels
Writer: Jon Zemke

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Great Lakes, Ontario angels partner to create Nouveau Angel Capital

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