2020 Report on Angel Investing In Canada

FIGURE 11 Amount Invested: New and Follow-on Investments

$180.0

$160.0

$41.1

$140.0

$68.6

$120.0

$46.5

$25.5

$105

$76.7

$100.0

Unspecified Follow On New

$80.0

$60.0

$97.3

$25.4

$88.6

$87.1

$50.5

$40.0

$20.0

$32.1

$15.6

$0.0

$0

$0

2015

2016

2017

2018

2019

One of the significant attributes of angel groups is having the financial capacity to make follow-on investments. This is critical in enabling their invest- ee businesses to scale-up. Figure 11 shows the dis- tribution between follow-on and new investments. However, the significant increase in unspecified transactions in 2019 is likely an anomaly in the reporting process. As Figure 12 shows, follow-on

investments account for a significant and rising share of the investments that angel groups make. Figure 13 indicates follow-on investments ac- counted for 38% of the amount invested, margin- ally down from 2018 (40%). However, there is no discernible long-term trend in the share of the total amount invested that is accounted for by follow-on investments.

41

ANNUAL REPORT ON ANGEL INVESTING IN CANADA

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