Pam Banks, Executive Director of Altitude Accelerator noticed a gap in the Western GTA region: “We identified a significant need for early-stage investment in the Western GTA. Many of the funding resources are concentrated in Toronto and less investment opportunities are available for founders to tap into outside of Toronto.”
Given the current investment landscape and global uncertainty investor sentiment is cautious. Altitude Accelerator is launching Summit Edge to close the gap for the much-needed capital for early-stage founders, while derisking opportunities for new investors.
Summit Edge unites smaller investments across multiple investors into a single fund and as per Banks, “This SPV structure enables a broader range of accredited, qualified, and crowdfunding investors to participate with smaller amounts, lowering both risk and financial barriers.”
Altitude’s mission is to help launch founders into their next stage of their journey. This opportunity not only creates valuable exposure and experience for new investors, but it also helps raise critical early-stage capital for startups. Along the way, startups will also have the guidance and benefits of investor subject matter and sectoral expertise plus an expansive investor network.
Altitude Accelerator also manages Brampton Angels, which provides capital for early-stage tech founders. However, what makes this special purpose vehicle unique is it provides new investors an opportunity to minimize their risk by investing a smaller amount into a larger fund to take advantage of top startup deals, not previously available. New investors will also have access to timely investment education resources specifically geared towards startup investing.
How it works:
Altitude Accelerator is currently seeking 30 investors to join Summit Edge Fund with a one-time investment of $10,000.
Participating investors will have an opportunity to meet and vote for companies that match their investment interests.
The SPV will pool investments and investors will collectively determine which companies will be granted the investment.
Benefits to new Investors:
- Access High-Quality Deals at Lower Cheque Sizes. Join curated startup investments you couldn’t reach on your own, with entry starting point at $10,000.
- Diversity and Reduced Risk. Build a broader portfolio of promising startups while sharing risk alongside other experienced investors.
- Hassle-Free, Professionally Managed Risk. One simple investment, with all the legal, admin and reporting handled for you while still benefitting from collective bargaining power and expert oversight.
Preference Capital has been designated to manage the SPV and tax reporting.
“Our mission at Preference Capital is to open the door for new investors by lowering the barrier to entry. By pooling capital into SPVs, we give every day accredited and qualified investors a front-row seat in professionally-led startup deals—diversifying risk and building real experience with every cheque.”
~Andrew Opala, Founder and Managing Partner, Preference Capital
If you are interested in learning more, please register your interest here.
