2023 Report on Angel Investing in Canada 121923W6

INTRODUCTION Angel Investment Data Sources

60

a passive role. Other angel organizations operate on a fund basis in which the management is responsible for the entire investment process. Although investments facilitated by angel organizations are more likely to be identified in investment databas- es, these sources do not always provide comprehensive coverage of such investments. NACO’s Annual Report on Angel Investment is therefore based on the informa- tion that has been provided by its members, angel orga- nizations with lapsed membership, and other non-mem- ber organizations identified as having an involvement with angel investing, on the investments that they made during the past year. However, the extent to which this information provides comprehensive coverage of angel investment in the market is dependent on the willing- ness of angel organizations to supply information on the investments that their members have made during the

TABLE 1

Profile of Angel Organizations: An Overview of Participants

All Respon- dents 2018 (32)

All Respon- dents 2019 (30)

All respon- dents 2020 (29)

All respon- dents 2021 (27)

All respon- dents 2022 (37)

Angel Group Characteristics

Median Age (Years)

7

8

10

8.5

9

Mean Age (Years)

7

9

9

9

9.7

Mean number of members

256

394

270

330

244

Median number of members

59

60

52

63

55

Table 1 presents a profile of the age and size of the 37 Angel organizations that participat- ed in the 2022 survey. Both the median and mean age of these organizations (9 and 9.7 respectively) were slightly higher than in previous years. The average size of organizations was smaller in 2022 than in 2021: the mean number of members dropped from 330 to 244 while the median dropped from 63 to 55. The difference between the median and median highlights the skewed size distribution of angel organizations, with the presence of a large number of smaller angel organizations and a small number of large angel organizations. The widening gap between the median and mean values indicates that the size distribution has become more skewed in recent years.

2023 ANNUAL REPORT ON ANGEL INVESTING IN CANADA

Powered by