The Canadian Startup Capital Association (CSCA), a coalition for early-stage investors that launched this spring, has named a new interim executive director.
The news: On Thursday, the CSCA announced that Tara June (TJ) Misra had stepped into the executive director role. According to Misra’s bio, the Ottawa-based executive has a 15-year background in public-private partnerships for innovation ecosystems and has consulted for startups around the world. She is a co-founder of the SAIL Initiative, a non-profit organization that aims to help streamline the licensing and commercialization of publicly funded research. “With her strong commitment to innovation ecosystem development, we are excited to have her working on behalf of capital activation in Canada,” read a Thursday post on CSCA’s LinkedIn page.
From the source: Misra told BetaKit in an emailed statement on Friday that her focus will be on building CSCA into a coalition that consults with potential members so it’s structured to serve them, and that she looks forward to working with other organizations in the ecosystem. “The [CSCA] seeks to amplify expertise through policy recommendations on behalf of underserved and underrepresented parts of the country, as well as reduce barriers to investment and aid in the navigation of existing systems,” Misra said.
The context: The CSCA was founded in April by angel investor Jesse Wiebe with the intention of bolstering Canada’s early-stage investment ecosystem, supporting investors who focus on companies between pre-seed and Series A stages. At the time, it claimed to represent more than 3,500 active investors who had collectively invested more than $750 million into early-stage Canadian startups. In June, Wiebe was charged by Saskatoon police with unlawfully entering a home and committing an indecent act. He pleaded guilty in July, receiving a conditional discharge and an order to serve one year of probation. Misra said that Wiebe’s work to get CSCA up and running was “remarkable,” but that he’s “decided to step back from leadership to focus on his health and family.” BetaKit has reached out to Wiebe for comment.
Final thought: The CSCA launched with three key priorities: activating more early-stage capital by supporting first-time angels, family offices, and emerging fund managers; building a stronger national network for coinvestment and data-sharing; and lobbying the government for policies to grow the industry. The young organization may have helped lock an early win. On Thursday, the federal government announced it would allocate 10 percent of its $750-million Early and Growth Stage Investment Strategy toward early-stage investment, and the remainder to growth—an allocation share the CSCA, among others, have advocated for. Misra, who attended the announcement, called the news “an important step forward.” The next test, she said, is how quickly that capital can reach investors.
With files from Josh Scott.
Feature image courtesy the Canadian Startup Capital Association.