Analyses Made Easy

How angels lay the groundwork for the rest of VC

All figures and charts are from the Pitchbook report itself.

Using Pitchbook’s methodology, angels and angel groups active in the US brought in $3.2B invested over more than 2.4K deals in 2019 (see graph). A broader metric from the Center for Venture Research sees that figure rise to $23.9B in almost 64K deals. Collecting data on angel investments is notoriously tricky due to the varied types of deals angels are involved in, and regulations governing deal reporting. The average angel check size is $30K, much smaller than the median angel deal size in 2020 of $580K. 

Individual angels are probably the most talked-about and gain fame for absurdly early bets on now-massive companies. They continue investing at all deal stages, with data showing them involved in over 1K deals valued at over $14B in 2019. Still, the amount of VC deals with single-angel participation has...