2021 Report on Angel Investing in Canada

T H E I N V E S TME N T E N V I RONME N T The I nves tment C l ima t e fo r Ange l I nves t i ng i n 2020

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FIGURE 23A

FIGURE 23B

Mean Score of Angel Investing Climate

Rating of the Investment Climate in 2020 (n=27)

8

8

6

6

4

4

2

2

0

0

2015

2016

2017

2018

2019

2020

1

2

3

4 5

6

7

8

9 10

Angel Groups

Rating of Investment Climate

Drilling down into the 2020 data reveals some variation in responses:

The biggest angel organizations – those with more than 50 mem- bers – gave the highest scores, with a median of 7.0 and a mean of 6.8. Organizations with 26-50 members had a mean of 5.4 and a median of 6. The smallest organizations (fewer than 25 members) gave the lowest median score (5), but their mean score was similar to that of medium-sized organizations

Angel organizations based in Western Canada have the highest mean score (6.8), higher than that of Central Canada (6.1), al- though the median scores are the same (6). Consistent with pre- vious years, angel organizations in Atlantic Canada gave a much lower rating for the investment climate (mean=5.3; median=4).

202 1 ANNUAL REPORT ON ANGEL I NVEST I NG I N CANADA The Chang i ng Landscape

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