Table of Contents
Preface
4
3. Investment Activity in 2019
37
38 38 40 43
3.1 Demand For Angel Finance
Executive Summary
9
3.2 The Financing Funnel
10 11 12 14 16
Introduction
3.3 Investments
Angel Group Characteristics
3.4 Deal Structures
Investment Activity in 2019
3.5 Valuations 44 3.6 Investment Characteristics – Industry Sector 46 3.7 Investment Characteristics – Company Size 49 3.8 Investment Characteristics – Region 51
The Investment Environment
Conclusion
1. Introduction
17
1.1 The Role of Angel Investors in the Entrepreneurial Ecosystem
4. The Investment Environment
53
18
4.1 The Investment Climate For Angel Investing In 2019
1.2 Survey Design and Respondent Profile
54
20
4.2 Government Initiatives:
1.3 Investment Activity of Angel Groups in 2019: an Overview
56
What Angel Groups Need
22
5. Conclusion
57
1.4 The Impact of the COVID-19 Economic Crisis on Angel Investment Activity
24 26
58
5.1 Summary
1.5 Summary
5.2 Early Evidence on the Impact of the COVID-19 Pandemic on Canadian Angel Groups
2. Angel Group Characterisitcs
27
59
28 28 29 30 31 32 33 34
2.1 Introduction
5.3 Recommendations to Policymakers
2.2 Organizational Structure
61
2.3 Fee Income
Participating Angel Members
63
2.4 Age of Group
2.5 Size - Membership Numbers
2.6 Gender of Group Membership
2.7 Women’s Entrepreneur Fund
2.8 Investment Activity by Group
8
ANNUAL REPORT ON ANGEL INVESTING IN CANADA
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