Sophie Forest named angel of the year by NACO, BDC Capital

© 2017 Brightspark Ventures. All rights reserved.

Sophie Forest, managing partner at Brightspark Ventures, has won the 2017 Canadian Angel of the Year Award, the National Angel Capital Organization (NACO) announced. The award, which is sponsored by BDC Capital, recognizes an individual who has made a significant contribution to the evolution of angel investing in Canada. Since joining Brightspark in 2003, Forest has led and managed more than 50 investments in technology companies. She played an especially key role in growing Radian6, acquired in 2011 by Salesforce for US$326 million. Prior to Brightspark, Forest was a partner at CDP Capital Technology Ventures.


National Angel Summit Announces Sophie Forest as 2017 Angel of the Year

Montreal, QC – The National Angel Capital Organization (NACO) is proud to announce Sophie Forest as the recipient of the 2017 Canadian Angel of the Year Award.

NACO’s Angel of the Year Award, sponsored by BDC Capital, is Canada’s top Angel investing award. It is presented to an experienced Angel who has most contributed to the growth and development of Angel investing in Canada through a combination of investment, mentorship, and leadership within their local ecosystem.

The 2017 recipient is Sophie Forest, Managing Partner, Brightspark Ventures. Since starting as Brightspark’s managing partner in 2003, Ms. Forest has led and overseen more than 50 investments in technology companies, and is known for working closely with the startups she invests in, and for her hallmark nurturing and listening qualities. Notably, she has played a pivotal role in the investment, growth and exit of Radian6, leading to a 23x multiple on capital invested and becoming one of the most successful technology exits in Canadian history.

In addition to her investment work, Ms. Forest sits on the Board of Directors of a number of companies, including Hopper, nGUVU, and Jewlr. Furthermore, she is a member of the Science and Technology Council of Canada, which provides external advice to the federal government in the domain of science, technology and innovation.

“Angel investing is a cornerstone of the early-stage startup ecosystem, and it’s very encouraging to see, namely through NACO’s latest Angel Activity Report, that it continues to grow in Canada,” said Jérôme Nycz, Executive Vice President at BDC Capital. “BDC Capital is sponsoring this award to applaud the role angels play in launching Canadian companies as well as to highlight exemplary approaches to angel investing.”

“We are once again very happy to announce the Angel of Year award recipient as part of the 2017 World Angel Investment Summit. This award recognizes the significant contribution that Angel investors make in supporting early-stage innovation in Canada. Sophie Forest is very deserving of this recognition and we are so pleased to celebrate her success,” said Yuri Navarro, Executive Director of NACO.

NACO’s World Angel Investment Summit Gala Awards Ceremony took place on October 5th, 2017. It was at this ceremony that Ms. Forest was honored for her considerable achievements in the Canadian technology ecosystem.

MaRS Centre, West Tower, 661 University Ave, Suite 450 P. 416.581.0009  F.647.317.1649 Toronto, ON, M5G 1M1 [email protected] 

Media Inquiries
For more detailed data and/or to arrange an interview with NACO’s CEO Yuri Navarro, please contact:

Arleigh Vasconcellos: (403) 561-4810

Vanessa Wilson [email protected]: [email protected]/(416) 581-0009 Ext. 4

About the National Angel Capital Organization
The National Angel Capital Organization accelerates a thriving, early-stage investing ecosystem in Canada by connecting individuals, groups, and other partners that support Angel-stage investing. NACO provides intelligence, tools and resources for its members; facilitates key connections across networks, borders and industries; and helps to inform policy affecting the Angel asset-class. For more information, please visit or follow us on Twitter @AngelCapCanada.

About BDC Capital
With more than $2 billion under management, BDC Capital is the investment arm of BDC, serving as a strategic partner to Canada’s most innovative and high potential firms. It offers a range of equity, venture capital and flexible growth and transition capital solutions to help Canadian entrepreneurs scale their businesses into global champions. To find out more, visit

Canadian Angel Investors
• 35 Angel groups across Canada, representing 3300 active Angels, made 418 investments amounting to $157.2 million
• A majority of Angels (80%) are located in Central Canada, with 17.3% in Western Canada and 2.7% in Eastern Canada
• The average deal size was $1.731 million, 49% more than the 2015 figure
• 71% of funding falls within 2 sectors: Life Sciences (health related companies) and ICT (information and communications technology)
• 58% of syndicated deals involved a combination of multiple syndicate partners, 9% involved syndication with Venture Capital
• Central Canada continues to be the hotspot for Angel investment activity with 61% of investments made in the region

Funding Success Funnel in 2016

• The 2016 Report data shows 15% increase in Angel investments
• 5,353 startups applied for Angel Funding
• 1,606 companies presented
• 489 companies went through due diligence
• 418 companies were funded

Data Source: 2016 Report on Angel Investing Activity in Canada, National Angel Capital Organization

Photo courtesy of Brightspark Ventures 

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