First AngelList deal in Canada: Forestry.io

betakit.com

36 points·sgallant··6 comments

Co-founder of https://forestry.io here. The Canadian regulations were just updated to allow for AngelList funding. A huge win for Canadian startups.

More info here: http://betakit.com/angellist-syndicates-finally-launches-in-...

Just an FYI some of the nav links point to the wrong URL when in the blog section.

What was the hold up?

Canada seems to pro-startup, I am surprised they took this long to allow AngelList funding.

Was there a lobby? An issue with consumer protection? An existing law that had to be changed?

I am not in the startup scene, but no, there was no opposing lobby, and consumer protections aren't a problem for B2B CMS software.

As for Canada's innovation tax credits, don't count on them. As of 2 years ago, they were an absolute accounting and bureaucratic horror show.

The innovation tax credits main purpose seems to be to lower morale of software engineers, enrich consultants, and keep a bunch of zombie startups alive for too long or help successful companies focus on something other than product and customers. It's almost beyond parody. See:

https://mobile.twitter.com/acoyne/status/771918107640225792

I was thinking of consumer protection for the investors. Crowd funding could, potentially lead people to put up vaporware as investment opportunities.

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