Angel Activity Report

NACO’s Angel Activity Report identifies key statistics and trends in the Canadian Angel capital market measured through prominent Angel groups across the country.

 

Our annual Reports on Angel Investing Activity in Canada identify key statistics and trends in the visible Canadian Angel capital market as measured by the activity of Angel groups. The data for the report was provided by Canadian Angel group managers through surveys and follow-up interviews. Using the answers of Angel group managers, NACO compiled data sets on (i) Angel groups, (ii) investments by Angel groups, and (iii) exits of companies backed by Angel groups.

Since 2010, the report has captured 1413 investments in 773 companies. This represents more than remarkable $560 million injected into the Canadian entrepreneurial ecosystem, with over $290 million invested over the last two years.

 


 

 

2016 Report on Angel Investing Activity in Canada Key Findings

 

 

The 2016 Report on Angel Investing Activity in Canada, the seventh of its kind, is released in partnership with Industry Canada, BDC Capital, RBC and Ryerson's Incubate Innovate Network of Canada (I-INC).

  • 35 Angel groups across Canada, representing 3300 active Angels, made 418 investments amounting to $157.2 million
  • A majority of Angels (80%) are located in Central Canada, with 17.3% in Western Canada and 2.7% in Eastern Canada
  • The average deal size was $1.731 million, 49% more than the 2015 figure
  • 71% of funding falls within 2 sectors: Life Sciences (health related companies) and ICT (information and communications technology)
  • 58% of syndicated deals involved a combination of multiple syndicate partners, 9% involved syndication with Venture Capital
  • Central Canada continues to be the hotspot for Angel investment activity with 61% of investments made in the region

 

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2015 Report on Angel Investing Activity in Canada Key Findings

 

 

The 2015 Report on Angel Investing Activity in Canada, the sixth of its kind, was released in partnership with Industry Canada, BDC Capital, RBC and KPMG Enterprise.

  • 32 Angel groups across Canada, representing 1650 active Angels, made 283 investments amounting to $133.6 million
  • A majority of Angels (67%) were located in Central Canada, with 28% in Western Canada and 5% in Eastern Canada
  • The average deal size was $1.16 million, stabilizing around 2014 figures
  • 63% of funding fell within 2 sectors: Life Sciences (health related companies) and ICT (information and communications technology)
  • 75% of the deals were syndicated, involving capital outside the Angel group
  • 57% of syndicated deals involved syndication with other Angel investors, 9% involved syndication with Venture Capital
  • 12 positive exits were recorded of which six were M&As, two were an IPO, and four were sales to new or existing shareholders
  • Central Canada continued to be the hotspot for Angel investment activity with 71% of investments made in the region

 

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2014 Report on Angel Investing Activity in Canada Key Findings

 

The 2014 Report on Angel Investing Activity in Canada, the fifth of its kind, was released in partnership with Industry Canada, BDC Capital, RBC and KPMG Enterprise.

  • 30 Angel groups across Canada, representing 1700 active Angels, made 273 investments amounting to $90.5 million
  • A majority of Angels (63%) were located in Ontario, with 30% in Western Canada and 7% in Eastern Canada
  • The average deal size was $1.2 million, an increase over 2013 and 2012 figures
  • 80% of funding fell within 2 sectors: Life Sciences (health related companies) and ICT (information and communications technology)
  • 75% of the deals were syndicated, involving capital outside the Angel group
  • 10 positive exits (from 9 companies) were recorded of which eight were M&As and one was an IPO
  • New investments increased by 66% in 2014
  • Central Canada continued to be the hotspot for Angel investment activity with 89% of investments made in the region

 

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Survey Instruments:

Angel Group Survey

 

 


 

 

2013 Report on Angel Investing Activity in Canada Key Findings

 

 

The 2013 Report on Angel Investing Activity in Canada: Accelerating the Asset Class, the fourth of its kind, was released in partnership with Industry Canada, BDC Capital and KPMG Enterprise.

 

Canadian Angel Investors - Highlights

  • 29 Angel groups made 199 investments totaling $89 million
  • Over 2100 investors were represented, 40% in Western Canada, 5% in Eastern Canada, and 55% in Central Canada
  • The top three sectors invested in by Angels continue to be information and communications technology ($28.8 million), life sciences ($20.5 million), and clean technology ($7.5 million)
  • An increasing number of Angels are leveraging investment into their portfolio companies by syndicating with other Angel investors (61%) and Venture Capital funds (32%)

 

Canadian Business Accelerators - Highlights

  • 12 leading Canadian business accelerators who supported 49 startups in 2013 participated in the study
  • Accelerated startups received investments of $31.1 million from Angels, VCs and government sources
  • Accelerator-backed companies received $17 million from Angel investors in 2013

 

   
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Survey Instruments:

Angel Group Survey        Business Accelerator Survey  

 

 


 

 

2012 Report on Angel Investing Activity in Canada Key Findings

 

 

The 2012 Report on Angel Investing Activity in Canada, the third of its kind, was released in partnership with Industry Canada, BDC Capital, FedDev Ontario and National Sciences and Engineering Research Council of Canada (NSERC).

  • There were 139 investments totalling $40.5 million
  • The three sectors that received the most investment were information and communications technology (54%), life sciences (23%), and clean technology (10%)
  • 82% of investments were made in Central Canada, 16% were made in Western Canada, and 2% were made in Eastern Canada
  • 50% of Angel groups made over 6 investments in 2012, an increase of 20% over 2011

 

   
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2011 Report on Angel Investing Activity in Canada Key Findings

 

The 2011 Report on Angel Investing Activity in Canada, the second of its kind, was released in partnership with Industry Canada and BDC Capital.

  • There were 134 investments in 2011 totalling $82.4 million, averaging $614,000 per investment
  • The sectors that received the most investment were ICT ($33.3 million), life sciences ($26.6 million), and clean technology ($17.5 million)
  • There were three new Angel groups formed in 2011
  • 60% of Angel groups had only 1-10 members making investments in 2011

*Note: Due to a change in methodology for one Angel group, these numbers were reported differently in the 2012 report. Please see the 2012 report for additional information.

 

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2010 Report on Angel Investing Activity in Canada Key Findings

 

The 2010 Report on Angel Investing Activity in Canada, the first of its kind, was released in partnership with Industry Canada.

  • 90% of investments made by Angel groups in 2010 were new as opposed to follow-on
  • 61% of investments by Angel groups were made in Ontario with a smaller concentration in British Columbia (17%)
  • The sectors that received the most investment were ICT (43%), life sciences (18%), and clean technology (16%)
  • Collectively, Angel groups had just under 1500 investors and had a portfolio of more than 250 investments

*Note: Due to a change in methodology for one Angel group, these numbers were reported differently in the 2012 report. Please see the 2012 report for additional information.

 

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