NOEG Announces Formation of NE Ontario Capital Group
The Northeastern Ontario Capital Group (“NOCG”) is an association of successful entrepreneurs and other business leaders who reside in Northeastern Ontario. They provide investment capital, strategic and financial advice and mentoring services to early-stage and existing companies to help them achieve succession, market leadership and improved financial results.
OVERVIEW
The Northeastern Ontario Capital Group ("NOCG") is an association of successful entrepreneurs and other business leaders who reside in Northeastern Ontario. They provide investment capital, strategic and financial advice and mentoring services to early-stage and existing companies to help them achieve succession, market leadership and improved financial results.
The mission of the NOCG is two-fold: to help grow the economic base of the region through investment in companies with rapid growth potential and to provide members with a reasonable financial return for their time commitment and invested capital.
THE NEED
Business start-up and expansion is one of the primary keys to economic development at the local level. In fact, many of Northern Ontario's most successful companies were start-ups in their own right.
Most entrepreneurs agree that raising capital is the primary obstacle hindering their growth. And while venture capital firms receive a great deal of attention, the fact is that VC's currently only invest about 2% of their funds in seed and early stage deals.
Funding and assistance from NOCG will allow an existing, start-up, or emerging high-growth company to accomplish critical milestones that will make it attractive for a larger follow-on venture capital financing at a future date.
The Group is also very interested in investing in successful established companies owned by entrepreneurs who are looking for succession and a way to retire/exit over the next 3 to 5 years.
THE ORGANIZATION
NOCG members are founders, CEO's and business and community leaders who have built world-class organizations. Members mentor and coach the entrepreneurs they invest in, serve as Directors and Advisory Board members, provide contacts and assist the entrepreneur with team building, strategic and financial planning and follow-on fundraising.
GOVERNANCE
NOCG has formed under the auspices of the Northern Ontario Enterprise Gateway (NOEG), a non-profit corporation governed by a volunteer Board of Directors. NOEG provides administrative, deal flow management, deal flow promotion and other support functions to angel investment groups that are forming in Northern Ontario, including The Northeastern Ontario Capital Group.
INVESTMENT CRITERIA
NOCG invests in companies in North Bay and across Northeastern Ontario with the potential to rapidly scale into market and financial leadership. This usually implies potential for high growth, a strong market position, and a sustainable advantage. The network will seek investment opportunities having:
A market opportunity sufficiently large to support an existing business or quickly create a business with at least $1 million in annual revenues;
A compelling, well articulated strategy for capturing a significant market share;
Proprietary technology or other strong barriers to entry;
Strong Management with relevant experience, a successful track record and a desire for advice, coaching and willingness to listen;
An exit strategy for the investors; and
A company valuation that fits within a predetermined risk/reward calculation for the investment.
INVESTMENT PROCESS OVERVIEW
Entrepreneurs wishing to apply for funding can do so via the NOEG secure web site at www.noeg.ca. NOEG will pre-screen applications based on the NOCG's investment criteria and also determine preliminary interest from The Group.
Assuming preliminary interest is indicated, the NOEG Regional Coordinator works with applicants to help them prepare their proposals for presentation to The Group. Promising investment opportunities are then presented at an investment screening meeting where the entire Group is invited to participate and evaluate the opportunity.
For more information please contact:
Jim Noble, Regional Coordinator
NOEG
PH: 705-377-7600 or 1-866-924-7600
Fax: 705-377-7601
info@noeg.ca
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