I N T ROD UCT I ON I nves tment Ac t i v i t y o f Ange l Organ i za t i ons i n 2020 : An Ove r v i ew
There was also a decline in the size of investments. The average (mean) amount invested per company in 2020 was $289,792, which was significantly lower than in 2019, although similar to 2018. The median size of in- vestment in 2020 - $100,000 – was also significantly lower than in both 2019 and 2018. These conclusions are confirmed when we focus on the investment activity of the 17 angel organizations that provided information in both 2019 and 2020. 6 These angel organizations made more than twice as many in- vestments in 2020 than in 2019 (+112%), there was an increase in the average number of investments made by angel organizations, a decline in the total amount in- vested (-8%) and a decrease in the mean size of the investment.
6 We perform this analysis because not every organization that reported its 2020 investment activity also reported its 2019 investments, and vice versa. This introduces potential response bias.
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