Central Canada’s dominance is a function not just of its greater number of investments but also on account of its higher mean size of investment which is consistently larger than in other regions ($628,000 compared with $237,000 in the West and $174,000 in Atlantic Canada).
TABLE 7 Regional Breakdown of Investments Per Million Population
Number of investments (per pop. million)
Amount Invested ($ million)
Region
Western Canada
3.42
0.81
Central Canada
11.76
7.39
Atlantic Canada
1.74
0.30
Canada
8.41
8.50
FIGURE 23 Mean Size of Investment By Region
2015
2016
2017
2018
2019
$628
0 100 200 300 400 500 600
$496
$494
$468
$419
$411
$386
$379
$326
$302
$282
$239
$237
$193
$174
$143
$128
$101
$75
$71
Western Canada
Central Canada
Atlantic Canada
Canada
Angel investment continues to be largely local and regional (Figure 24). In 2019, 14% of in- vestments were in the same city as the angel group was based and a further 52% were in the same province. However, comparison with pre- vious years indicates that this feature of angel investing is weakening, with a steady decline in
within-province investments year-on-year and a large increase in inter-provincial investments which accounted for 30% of total investments in 2019. International investments continue to be fairly insignificant (4%), which accounted for 30% of total investments in 2019.
FIGURE 24 Distance of Investee Companies From Angel Group Location
3%
5%
9%
13%
22%
17%
15%
28%
16%
22%
28%
32%
18%
24%
52%
44%
42%
42%
32%
0%
2015
2016
2017
2018
2019
Same City
Same Province
Rest of Canada
International
52
ANNUAL REPORT ON ANGEL INVESTING IN CANADA
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