The New Brunswick Securities Commission is supporting an upcoming summit for so-called angel investors, as the regulator looks for ways to foster more active capital markets in the province.

The first Atlantic Angel Summit will be held in Saint John, April 23-24. It is designed to encourage the organization of angel investors and to promote the potential impact they can make on the development of business opportunities in the region. Angel investors are individuals, usually successful entrepreneurs, who invest money and/or provide mentoring to early-stage companies in exchange for an equity stake in the venture.

The summit will be hosted by “propelsj”, a private-sector non-profit organization in Saint John dedicated to the growth of entrepreneurship, innovation and the expansion of the information and communications technology sector in the region.

“This event is a perfect example of the growing momentum of capital market development that the commission is mandated to foster,” said Donne Smith, chairman and CEO of the NBSC, in a release.

“The NBSC recently embarked on a series of roundtable dialogues throughout New Brunswick to bring together knowledgeable stakeholders who share a similar desire and passion to build New Brunswick capital markets,” Smith noted. “The dialogues have not only identified potential solutions, but also have spurred various stakeholder groups to take on identified initiatives as champions. Many roundtable delegates identified the key role that angel investors play in stimulating the local and Atlantic Canadian economies.”

“The first Atlantic Angel Summit is another step toward establishing a vibrant capital market in New Brunswick. The NBSC is pleased that propelsj has stepped forward to host this event, and we look forward to its success,” Smith concluded.