The angel investor market in 2015 had a slight increase in investment dollars and in the deal size. Total investments in 2015 were $24.6 billion, an increase of 1.9% over 2014, according to the Center for Venture Research at the University of New Hampshire.
A total of 71,110 entrepreneurial ventures received angel funding in 2015, a decline of 3.1% over 2014 investments. The number of active investors in 2015 was 304,930 individuals, a decrease of 3.7% from 2014. The change in both total dollars and the number of investments resulted in a deal size for 2015 that was larger than in 2014 (an increase in deal size of 5.1% from 2014).
These data, combined with the yield rates and valuations, indicate that angels were selective in their investment behavior in 2015. The decrease in valuations over the last three years indicates a continuing market correction in valuations. However, the $24.6 billion of investments is a robust amount and is close to the market high of $26.0 billion that occurred in 2007.
The Center for Venture Research is a multidisciplinary research unit of the Peter T. Paul College of Business and Economics at the University of New Hampshire. The Center's principal area of expertise is in the study of early stage equity financing for high growth ventures. The Center for Venture Research, since its inception in 1984, has undertaken and published numerous studies in the area of early-stage equity financing of entrepreneurial ventures.