I N V E S TME N T ACT I V I T Y I N 2 0 2 0 Spo t l i ght on At l ant i c Canada
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By Peter Moreira, Entrevestor
P E T E R MOR E I R A Principal Entrevestor
side of organized networks – marks a rebound in angel investment from $21.9 million in 2019, though inves- tors and founders in the region are still worried that the ecosystem is vulnerable without a full angel net- work. Diving down a bit deeper, we see that worrisome factors persist. In 2020, two companies accounted for a total of $10.4 million in angel funding, or one–third of the fund- ing drawn from angels and friends and family. One of these companies drew funding from angels outside
Though it has no regional angel net- work, the Atlantic Canadian start- up community had a banner year in 2020, unleashing its first unicorn and displaying strength in funding, employment and revenue. It was also a decent year for angel funding, the lack of a network notwithstanding. Startups in Atlantic Canada raised $27.3 million in angel investment, according to data collected by En- trevestor. (They also raised $5.1 mil- lion from friends and family, who are tantamount to angel investors.) The $27.3 million figure – which includes funding from angel investors out-
202 1 ANNUAL REPORT ON ANGEL I NVEST I NG I N CANADA The Chang i ng Landscape
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