To be clear, AUM Law is NOT endorsing the Dan Brown novel or associated film of the same name. Sorry Tom Hanks. Rather, we are referring to recent developments surrounding angel investors and the facilitation of fundraising for start-ups.

The Ontario Securities Commission (OSC) recently approved the launch of a platform in Ontario by AngelList, a U.S. based company that operates an online networking and fundraising website. The OSC decision enables accredited investors with experience in venture capital and angel investing that actively seek out AngelList to connect with other such investors and create a pool of money to be made available to a specific start-up. AngelList’s role is to operate the online platform, with AngelList Advisors facilitating the syndication of offerings through the platform.

The OSC gave the green light to AngelList under its new LaunchPad initiative, a program that engages with fintech companies to provide them with guidance and flexibility in navigating securities law requirements, accelerate time-to-market, and keep securities regulation in step with digital innovation. The OSC LaunchPad was unveiled on October 24, 2016.