Congratulations Enthusiast Gaming Inc.!

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Dear Angels and Friends,

York Angel Investors is excited to announce the closing of Enthusiast Gaming!

September 15, 2016 – Markham, Ontario, CANADA

Today, York Angel Investors Inc. (YAI), is proud to announce an investment in the amount of $ CDN 542,500.00 with Enthusiast Gaming Inc. of Toronto, Ontario. This investment was done in collaboration with Spark Angels.

“York Angels was very excited to invest in Enthusiast Gaming. This is a promising and energetic company,” said Jess Joss, Executive Director of York Angels Inc.  “The company founder, Menashe Kestenbaum, has successfully built the company to an impressive level, and now we are looking forward to working with them as they accelerate the company’s already positive growth. We would also like to thank our industry colleagues at ventureLAB for helping us with the due diligence sessions through their Genesis program.”

Mike Betts, Executive in Residence of VentureLAB says “Menashe is a fantastic young entrepreneur and Enthusiast Gaming is a great rapidly growing business that we are really proud to be supporting through our Genesis program at ventureLAB.” Betts also stated “We’re also grateful for the ongoing partnership of purpose we maintain with the York Angels as we work together to cultivate the next generation of growth companies in the region and beyond”

The lead Angel for York Angel Investors also had this to say about the deal. “We are delighted to be partners in Enthusiast Gaming. The significant investment from the York and Spark Angels in this new and exciting industry is a testament to our confidence in the entrepreneurs who started the business” says Rudy Joss. “Joining the board are Bryan Watson and Jason Nagy. Both angels have a background in the industry and will work with Menashe, Meir, Eric and the rest of the management team to grow a prosperous enterprise. Again congratulations to all …  and special thanks to the legal team for the fine work.” York Angels was represented by the multinational law firm, Dentons.

Menashe Kestenbaum, CEO of Enthusiast Gaming is also very excited about the deal being finalized. “In our company culture at Enthusiast Gaming, we’ve tried to foster an enthusiasm in the work we do every day. Our staff have a common energy and passion in their efforts to help the company grow ”  says Kestenbaum. “When speaking with the individual members in the York Angels group, I quickly realized they have that same common denominator: they are all excited by the young innovative companies coming to market and are enthusiastic about helping them grow. The world needs more organizations like these. We’re delighted to have the York Angels and Spark Angels as shareholders of Enthusiast Gaming.”

For more information please contact:
Menashe Kestenbaum / CEO
menashe@enthusiastgaming.com / 6478601515

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About Enthusiast Gaming Inc Enthusiast Gaming is the culmination of what the gaming world has to offer, both online and offline. Its grassroots as an enthusiast lead community brought upon the creation of the first few enthusiast websites, Nintendo Enthusiast, Gaming Enthusiast, PlayStation Enthusiast, Xbox Enthusiast and later TV and Film Enthusiast recently in 2015. Earlier in 2016, Enthusiast launched, “enthusiast.gg”, the world’s first social media platform dedicated exclusively to gamers. As a growing network of both internally and externally managed digital properties, Enthusiast has provided approachable content with a certain readable nature that is generated by the gamer, for the gamer. Most recently, Enthusiast has added to its collection a series of websites that align with this readable nature, and in turn, embracing it to create an online community with gamers across the world.  Enthusiast Gaming operates a live network of gaming events, competitions, markets, and gatherings within the local communities it was created in.

About Spark Angel Durham & Northumberland’s Angel Investor Network: Spark Angel Network is a group of individual investors whose aim is to build economic growth and sustainability within Durham and Northumberland. As successful individuals, the members have come together to provide private equity investment to early-stage technology and innovative businesses.

About York Angel Investors:  The York Angels are a group of accredited investors with a broad range of professional experience. Their individual and group focus is to create a return on investment for themselves and the businesses with which they work.  Their involvement provides entrepreneurs with funding, and very importantly, advisors who counsel portfolio companies and their entrepreneurs, based on experience gained through their own successes in expediting and managing growth.

YAI’s portfolio companies benefit from our member expertise in information and communications technology, internet, online applications, enterprise and SaaS software, retail, alternative energy, healthcare and life sciences.  This collaborative mentorship approach and strategic financing supports entrepreneurs through various stages of early growth.  These critical investments often represent the bridge between the self-financed or seed stage and the venture capital and/or private equity level of funding.

Connections in the News: Mina Mitry from Kepler Communications Receives High Praise

Kepler Communications, a 2016 Techstars Seattle company based in Toronto, Canada, announced a $5 million seed funding round from lead investor IA Ventures, joined by Techstars Ventures, Liquid 2 VC, SK Ventures, Zelkova Ventures, Plug & Play Ventures, V1 VC, Globalive Capital, and BDC. The funding will support the company’s launch of two communications satellites by the end of 2017, which will form the initial pieces of a network that the company says will reduce costs and latency for accessing satellite data.

Co-founder and CEO Mina Mitry has high praise for the support the company received during its time in Seattle, citing in particular Techstars Seattle’s managing director, Chris DeVore, and Joe Landon of the Space Angels Network.

It’s worth reading Mitry’s perspective on the fund-raising process, and the out-sized attention the tech world pays to venture funding events, as opposed to more meaningful milestones on the path to building a real business:

“All too often I find entrepreneurs get praise for raising investment while those building businesses that bootstrap to exciting revenues go unnoticed. The converse should be true as bootstrapped businesses have actually built a machine (business) that works. We’re only at what I like to call step 0 of execution; we’ve got the parts and resources to build our machine, but some assembly is required.

“Fund raising quickly becomes a toxic activity that takes away from building a real business. It’s easy to get roped in by the allure of travelling to different destinations, meeting exciting people, and landing investor checks, so much so that you unwittingly ignore (or want to ignore) very real problems that need to be solved. To that end, I made every effort to minimize how much of the team’s most precious and finite resource – time – would be spent to get the necessary money resource. This came at the cost of isolating myself from most business operations and the team for an extended period of time. Needless to say, I’m happy to be off the fundraising trail.”

See full article here

 

A Message from NACO: Join the talks on policy and the future of angel investing in Canada

Angel Investing In Canada - York Angel Investors

Dear Fellow Angels and Friends,

Please see a message below from our industry colleague NACO.

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Dear Members,

As the champion of Canada’s Angel Asset Class, NACO works to voice the interests and concerns of our Angel community to Government, with the goal of ensuring that policy changes are made with the best available information and with input from investors on the front lines.

Over the last six months, we’ve been specifically working with the Government of Canada to ensure they are aware of the needs and aspirations of Canadian Investors for their upcoming Canadian Innovation Agenda. For some background on our basic message to the government, click here to read Ian Bandeen and Bev Tudhope’s March op-ed in the Globe and Mail on the need for government action.

Our goal is to help the Government improve the conditions for success for early-stage Canadian companies by increasing the quantity and sophistication of available private risk capital, a critical component for company growth and development. As such, we are proud to announce the release of our first ever public policy white-paper, on “Stimulating Investment in Canadian Ventures”, which outlines key initiatives the government could take to fully support entrepreneurship in Canada to grow and thrive. The full document and executive summary can both be found by following the link below:

The paper above was prepared by NACO’s Policy and Research Committee in consultation with our members and strategic partners. To coincide with the release of the paper, Mike Volker, the Chair of the committee, was also featured in an opinion article published in the (Ottawa) Hill Times on Aug. 22. The article can be read here.

NACO is now working on behalf of our members to submit a more fulsome submission that addresses the questions posed by the Government’s consultations on Canada’s Innovation Agenda.  However, we encourage each of you, as active angel investors and members of NACO, to get involved in the conversation with the Government and let your voices be heard.  More information can be found on the Government’s consultation website.

We strongly encourage you to submit your own ideas to the Government by visiting the website here.

Yours in Angel Investment,

Yuri Navarro
CEO & Executive Director

National Angel Capital Organization
MaRS Centre, 101 College Street, Suite HL-30B
Toronto, ON  M5G 1L7
Tel:  +1 (416) 581-0009  ext: 3
ynavarro@nacocanada.com

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