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Investment Characteristics - Region 3.8
A ccording to this samplewhich includesacross-sec- tion of angel organization investment activity across Canada, angel activity continues to be distrib- uted unevenly across Canada. Central Canada (Ontario and Quebec) accounted for 72% of investments in 2020 compared with 25% in Western Canada and just 3% in Atlantic Canada (Figure 21A). Central Canada’s highly active investment environment is also reflected in its share of the amount invested, accounting for 78% of the total. There are also regional differences in the propor-
tion of new and follow-on investments. In Central Cana- da, 60% of investments were new compared with 75% in Western Canada and 58% in Atlantic Canada. It’s worth noting that the high percentage of new investment in Central Canada can be attributed to Ontario as Que- bec experienced the reverse with the majority of 2020 investment being follow-on. However, Central Canada’s highly active position is confirmed when investment ac- tivity is calculated on a per-capita basis (Table 7).
202 1 ANNUAL REPORT ON ANGEL I NVEST I NG I N CANADA The Chang i ng Landscape
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