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Investment Activity in 2022 Executive Summary
D emand for angel funding in 2022 was higher than in each of the previous three years. The 26 orga- nizations that reported deal flow information for 2022 received 7,982 approaches for funding. This is a 3% increase from 2021, the third annual increase — and is higher than in every year since 2015, save for 2017 — but with the usual caveat that annual trends are in- fluenced by differences in the number of organizations reporting this information each year. 20% of these busi- nesses were selected for presentation to members. An- gels undertook due diligence on 40% of the businesses that were invited to present, ultimately investing in 88%
of these businesses once due diligence was complete. This represents 7% of the businesses that initially ap- proached these organizations for funding. The organizations that reported their investment activ- ity made 654 investments in 2022, investing a total of $166.2 million. In comparison with 2021, this represents a slight increase (3%) in the number of investments and a much larger decrease in the amount invested (-37%). Taking a longer-term perspective, the number of invest- ments in 2022 was the highest ever reported, while the amount invested was higher than in nine of the past 10
2023 ANNUAL REPORT ON ANGEL INVESTING IN CANADA
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