2015 angel investing - UNH CVR data

The University of New Hampshire's Center for Venture Research published its 2015 report on angel investment activity today. You can see the press release and report here.

Some things in there we already knew. The level of angel activity in 2015 wasn't much different from 2014 - $25 billion invested in over 70,000 companies. And as we know, investment sizes increased last year as angels did a few more "VC" rounds - though 5% in this report is much less of an increase than the HALO report found.

But also a surprise: the valuation of angel rounds fell - 13% lower - in this survey. That's quite different from the significant increase in the HALO report. True angel investments (the average in this report was $2.3M valuation), rather than the angel->VC investments in the HALO report, continue to be sensibly priced - which is good news for us.