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Investment Characteristics: Industry Sector 3.6
A ngel investors invest in a wide range of sectors of the economy. Despite the creation of several new industry categories in 2022 (HealthTech, Aerospace, AgTech, NanoTechnology) which in previous years were predominantly included as part of the Information and Communication Technologies (ICT) sector, the domina- tion of the ICT sector continued, accounting for 39% of investments and 40% of the amount invested in 2022. HealthTech (which was not identified as a separate sec- tor in previous years) was the second biggest sector, comprising 14% of investments and 12% of the amount invested, followed by Services (12% of investments, 9% of the amount invested) (Figure 15).
ICT’s share of investments was higher than in both 2020 and 2021 but despite this, it accounts for a significant- ly lower proportion than in earlier years when it com- prised close to half of all investments. This reflects the addition of separate industries in recent years (such as HealthTech in 2022 and CleanTech in 2021) which were previously included in ICT. However, ICT’s share of the amount invested has been stable over the past three years at around 40%. Life Sciences share of invest- ments increased sharply from 2019 to 2020, when the opportunities created by COVID-19 boosted investment activity in the sector, but fell back in 2021 to pre-COVID levels. Its share of investments in 2022 (21%) was sim-
2023 ANNUAL REPORT ON ANGEL INVESTING IN CANADA
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