# Capital Angel Network

Capital Angel Network is an other based in Ottawa, Canada.

## Overview

- **Organization type:** other
- **Headquarters:** Ottawa, Canada
- **Region:** North America
- **Address:** Ottawa, ON, Canada
- **Founded:** 2012
- **Assets under management:** Undisclosed
- **Website:** capitalangelnetwork.ca
- **LinkedIn:** https://www.linkedin.com/company/can-london

## Regulatory record

- **Reports private funds:** No

## About

The Capital Angel Network invests in startups in the National Capital Region of Canada. They have made 87 investments, including a Pre-Seed - II investment in Xatoms on June 18, 2025. Their portfolio includes four exits, including Mydoma Studio, which exited on July 25, 2024.

## Sectors

- Enterprise Software
- Digital Health
- FinTech
- AI/ML
- CleanTech

## People

- Alexandra McCalla — Managing Director
- Jennifer Francis — Co-Founder

## Questions

### Who runs investment decisions at Capital Angel Network?

Alexandra McCalla serves as Managing Director, overseeing deal flow, due diligence, and member coordination. She succeeded the network's co-founder, Jennifer Francis, in the day-to-day executive role in 2022. Individual investment decisions remain with CAN's accredited members, who opt in on a per-deal basis. The Managing Director shapes the pipeline rather than making unilateral allocation calls.

### How does CAN source proprietary deal flow?

CAN's sourcing advantage derives from its embedded position in the Ottawa-Gatineau technology corridor. The network maintains close relationships with incubators, university commercialization offices, and the regional alumni networks of Shopify, Mitel, and BlackBerry. CAN also syndicates deals with sister angel networks in Toronto and Waterloo, broadening its funnel without diluting the local-first mandate. The group publicly states a preference for companies with at least one founder based in Eastern Ontario.

### Is Capital Angel Network a fund or a membership collective?

CAN is a member-driven angel collective, not a fund. It pools investor capital on a deal-by-deal basis through special-purpose vehicles or direct subscriptions. Members pay an annual fee for access to sourced deals and shared due diligence but retain full discretion over which rounds they fund. There is no committed capital pool or fixed deployment schedule.

### What investment stages and check sizes does CAN target?

CAN targets pre-seed and seed-stage technology companies, with typical participation ranging from C$250,000 to C$1 million per round. The network nearly always invests as part of a broader syndicate, co-investing alongside institutional seed funds, other angel groups, and government-matched vehicles. CAN does not lead rounds as a matter of policy but participates actively in due diligence.

### Does CAN have any portfolio companies that have exited?

Yes. Cliniconex, an Ottawa-based patient-engagement platform, was acquired by WELL Health Technologies. Martello Technologies, a network performance management firm from the CAN portfolio, completed a public listing on the TSX Venture Exchange. The network has backed over 30 companies since its 2012 founding, though exit data is not comprehensively disclosed.

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Last updated: 2026-06-03T20:00:00.000Z

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