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).
34
ANNUAL REPORT ON ANGEL INVESTING IN CANADA
Powered by FlippingBook