CVCA Member Profiles

CVCA New Member Profile: Archangel ‑ Network of Funds

Archangel photo

We’re continuing our member series on CVCA Central; profiling our members and providing insight into these invaluable organizations in our community.

The latest member we are excited to profile is Archangel — Network of Funds.

Tell Us More about Archangel.

Established in 2019, Archangel is a leading network of four separately managed angel-stage investments funds — Adrenaline, Axion, StarForge and Phoenix Fire — each with its own distinct investment thesis. Archangel’s four funds invest in early angel-stage deals across Canadian Technology, Sustainability, Health Sciences, and Smart Manufacturing companies.

Collectively, Archangel has $20M in committed capital and is actively growing.

The Archangel team consists of 12 General Partners, 8 Venture Partners, 1 Legal Advisor and administrative support. While Archangel operates across Canada, our main office space is located in Catalyst137 in Kitchener, Ontario — right in the heart of Silicon Valley of the North!

What is Archangel’s Focus?

Archangel is a leading network of funds that catalyse growth in early-stage technology businesses in Canada through unlocking access to capital, mentoring relationships and helping companies scale. Our consortium of superangels and venture capitalists are helping transition Canada to an innovation economy.

Archangel’s four funds — Adrenaline, Axion, StarForge, and Phoenix Fire — are managed separately according to a distinct investment thesis.

Adrenaline: The Adrenaline Fund is a rules-based fund that passively co-invests with experienced angel investors in a diverse cross-section of portfolio companies. Led by Randall Howard, Benton Leong, and Amber French, it is designed to open access to thebroadest possible group of accredited investors and to deliver a highly diversified portfolio of 40 to 50 companies over a 5‑year period. Rather than actively seeking investments, Adrenaline follows internal rules to participate in investments made by highly qualified lead investors.

Axion: The Axion Fund, led by General Partners Aaron Rezaei, Ehsan Mirdimadi and Peyvand Melati, has two main focuses — Canadian IP and Northern Ontario. Axion assists in the commercialization and growth of ideas and research-based companies that are generated within universities and other innovation centres across Canada. It also emphasises supporting companies that are located in or seek to settle in Northern Ontario.

StarForge: The StarForge fund is an actively managed portfolio that invests in innovative, early-stage B2B Canadian companies with disruptive technologies, significant scale-up potential, and valuation advantages over the U.S. market. Led by General Partners Jacky Chen, Ellen Fang and David Rich, the fund aims to drive returns for investors through actively sourcing deals mostly within the Toronto-Waterloo start-up ecosystem and growing portfolio businesses by leveraging the power of alliance networks in North America.

Phoenix Fire: The Phoenix Fire fund is on a mission to increase the participation, leadership , and prosperity of women in technology. Led by General Partners, Claudette McGowan, Danielle Graham, Diane Wolfenden and Thealzel Lee, Phoenix Fire applies a systematic, disciplined approach to investing in women entrepreneurs across Canada.

What is Archangel Excited About?

Our consortium of superangels is excited to be helping Canada become an innovation economy, and in the process, looks forward to realising returns for our investors!

Our fund was formed and is led by experienced technology entrepreneurs and executives that have a deep understanding of technology and innovation in many fields. We take pride in considering ourselves a founder-friendly” institution.

With more than 40 investments under our belt, we have already become a recognizable name by many ecosystem players in Canada. We are excited to be growing our fund, our portfolio, and our relationships with ecosystem partners who can help us create more Canadian success stories.