INVESTMENT ACTIVITY IN 2021 Investments
112
However, follow-on investments were significantly lower in 2021 than in previous years, accounting for 23% of investments (Figure 11) and 20% of the total amount invested (Figure 12). This is likely to reflect a pandemic effect as in 2020 angels focused more on supporting their existing investee companies to en- sure that they had sufficient financial resources to survive the economic downturn caused by the pan- demic and were less interested in making new invest- ments. And many companies also deferred their fund- raising in 2020 because of the economic uncertainty. Many of these companies came to the market in 2021. And angels were much more interested in making new investments in 2021.
Number of Investments and Amount invested by Angel Organizations FIGURE 10
Number of Investments Amount Invested ($M)
600
583
635
505
450
418
416
300
318
283
$262.12
$169.53
$162.61
$157.25
$142.84
150
$133.57
$102.87
0
2015
2016
2017
2018
2019
2020
2021
2022 ANNUAL REPORT ON ANGEL INVESTING IN CANADA
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