EXECUTIVE SUMMARY Investment Activity in 2022
38
but accounts for a significantly lower proportion than in earlier years when it accounted for close to half of all in- vestments. This reflects the identifi- cation of separate industries in recent years (such as HealthTech in 2022 and CleanTech in 2021) which were previ- ously included in ICT. ICT’s share of the amount invested has been stable over the past three years at around 40%. Life Sciences share of investments — which increased sharply from 2019 to 2020, when the opportunities creat- ed by COVID-19 boosted investment activity in the sector — fell back to pre-COVID levels. The CleanTech and Energy sectors continue to account for a relatively small proportion of to-
Use of Investment Instruments FIGURE D
Preferred Shares 47.9%
Convertible Debt 43.0%
SAFE Notes 5.8%
Common Shares 1.7%
Revenue Based Financing 0.8%
Debt 0.8%
2023 ANNUAL REPORT ON ANGEL INVESTING IN CANADA
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