They’re not your typical angels, but they’re benefiting our community, one investment at a time.
The VA Angels were in Kelowna on Friday to announce the 100th company they funded.
Over the past 13 years, the 120 members of VA Angels have invested more than $40 million into 100 early-stage, growth companies primarily in Western Canada.
“We are excited to officially make this announcement in Kelowna, the first city outside of Alberta to welcome a VA Angels Chapter,” said Randy Lennon, President of the Kelowna and Phoenix chapters of the organization. “We recently were welcomed with open arms by the Mayor of Phoenix, Arizona as we launched our first chapter in the USA.”
Photo credit: KelownaNow.
Three of the 100 companies they funded are based in Kelowna, and VA Angels will continue to partner with local organizations to bring forward eager start-up companies that will benefit our community.
One such local organization is Kelowna-based Accelerate Okanagan, who will be working with VA Angels to get tech-based companies in Kelowna the funding they need to get off the ground.
“We’re really looking forward to strengthening this relationship with VA Angels and helping to get local companies in the tech industry in front of these angels to be able to raise the money they need to build their company,” said Brea Retzlaff, Community Manager for Accelerate Okanagan.
Investing in the Okanagan is incredibly beneficial, as the tech industry is the fastest growing industry in Kelowna and is worth $1 billion throughout the Okanagan.
“This relationship will benefit the community as a whole to really strengthen the earlier stage start-ups to be able to grow sustainable companies and have a larger presence here in the Okanagan,” added Retzlaff.
Actively investing in companies and offering mentorship, VA Angels will help to bring growth and capital to the Okanagan.
“VA Angels will help to create jobs, stimulate our economy. One of the companies talked about how this money will allow them to hire local people, so those are local wages that are then spent back in our community and supporting other local businesses. It’s just a win all the way around,” said Mayor of Kelowna, Colin Basran.
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