Canadian angel investment falls to five-year low, but women investors gain ground

Canadian angel investment has fallen to levels not seen since the COVID-19 pandemic. But more women than ever are participating in those investments, according to the National Angel Capital Organization (NACO)’s 2026 Report on Angel Investing in Canada. The report found that Canadian angel investors deployed nearly $114 million across 490 investments in 2025, marking another decline for angel investing and erasing 2024’s partial recovery from what NACO calls the “2023 trough.” “The pre-seed and