Maple Leaf Angels announces launch of third MLA48 fund

Maple leaf

Maple Leaf Angels announced this week that it is launching its third angel investment fund, MLA48 Fund III.

The fund will be part of MLA48, Maple Leaf Angels’ program that promises “quick investments in early-stage technology companies.” The angel fund promises to deliver investment decisions within 48 hours of companies making a formal investment committee pitch.

The angel fund promises to deliver investment decisions within 48 hours of a formal pitch.

Established in 2007, nonprofit Maple Leaf Angels was created with the mandate of connecting accredited investors with passionate entrepreneurs in the larger tech ecosystem. The Ontario-based group launched its first fund in 2014 and since has deployed two funds, investing in eight Canadian startups to date.

Most recently MLA48 led a $500,000 pre-seed round for Toronto-based home buying platform Moregidge. In 2018 it participated in a $3 million raise for IoT cybersecurity startup, Cybeats. In previous years, it also inevsted in ConferenceCloud, Toronto-based Orchard Labs, and marketplace for ride-shared and private charter buses,, (formerly ShareTheBus).

Now, the angel investment group is reaching out to its member network to raise a third fund. Only members of the Maple Leaf Angels are allowed to contribute to the fund.

“We are thrilled to announce the opening of MLA48 Fund III, continuing to build on MLA48’s mission of enabling selected founders to focus more of their time growing a successful business than on raising capital,” said Prathna Ramesh, managing director of Maple Leaf Angels.

The group stated that it will consider investing up to $150,000 per company with potential follow-on investment up to $300,000. It did not disclose the number of companies it plans to invest in but like the previous two funds this one is focused on investing early-stage startups.

Prathna told BetaKit that the fund is expected to close at the end of April and will start accepting applications for startups looking for investment in May.

Maple Leaf Angels noted that to date, its members have invested more than $30 million in 55 companies across Canada. It also offers Curbside Mentoring events and weekly complimentary office hours to meet with its investors.

Meagan Simpson

Meagan Simpson

Meagan is the Senior Editor for BetaKit. A tech writer that is super proud to showcase the Canadian tech scene. Background in almost every type of journalism from sports to politics. Podcast and Harry Potter nerd, photographer and crazy cat lady.

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