Angels Spend Less, But Seed More Companies
Angel investors spent fewer dollars in the first half of the year, but stretched to fund a larger number of companies, according to a report released today by the Center for Venture Research at the University of New Hampshire. The report estimates that angel investments in the first half of 2009 totaled $9.1 billion -- a decrease of 27 percent over the first half of 2008. However, a total of 24,500 entrepreneurial ventures received angel funding in the period, a 6 percent increase from the same period a year ago. Jeffrey Sohl, director of the Center for Venture Research, says the data “indicates that while angels have not significantly decreased their investment activity, they are committing less dollars resulting from lower valuations and a cautious approach to investing.”
