Gowling WLG is delighted to congratulate its client, the Toronto chapter of LGBT investing group Gaingels, on its first Canadian investment.
Founded in the United States, Gaingels completed its first deal in January 2015. Since then, approximately 200 Gaingels members have invested more than US$20 million in approximately 70 companies — with most deals ranging in value between US$200,000 and US$500,000. There are currently Gaingels chapters in New York, San Francisco and Los Angeles, as well as London and Australia, and now Toronto.
Gowling WLG assisted the Toronto chapter of Gaingels with its participation in a $360,000 investment in Borrowell, a Toronto-based fintech company that provides free credit scores and reports to users, along with personal loans and referrals for credit cards and mortgages.
Gaingels’ members invest in private companies across all sectors that have at least one LGBT founder, senior C-level executive or board member. For more information on Gaingels’ Toronto chapter, please see this CBC article.
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