2020 Report on Angel Investing In Canada

2.8 Investment Activity by Group ANGEL GROUP CHARACTERISTICS

There is considerable variation among groups in terms of their level of investment activity. Nine groups (36%) made between 1 and 5 invest- ments. At the other extreme, a further 9 groups (36%) each made more than 10 investments, with just 2 of these groups making more than 25 investments (Figure 7).

Last year’s report identified the emergence and growing significance of a small group of highly active angel groups making more than 25 invest- ments a year. These groups accounted for 27% of all groups in 2018. The most obvious difference from previous years is that very active groups were much less prominent in 2019, accounting for just 8% of the total. Beyond this there are no discernible temporal trends.

FIGURE 7 Number of Investments Made by Angel Groups

100%

17

90%

23

27

36

80%

44

23

70%

20

60%

37

26+ 11-25 6-10 1-5 0

28

50%

27

31

27

40%

30%

29

28

27

20%

15

19

10%

9 3

12

3 3

8 0

7

0%

2015

2016

2017

2018

2019

Not surprisingly, there is a relationship between group size (number of members) and investment activity, with larger groups making more investments (Table 3).

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ANNUAL REPORT ON ANGEL INVESTING IN CANADA

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