Business angels: active investors in Europe 2020

Between 2011 and 2019, the number of business angel investors active on the European early-stage investments, both on the visible and invisible part of the market, grew steadily throughout the aforementioned time period. This included investors active in activities gathered by business angel networks, associations, and databases reporting startup investment. In 2011, a total of 241,444 angel investors were active. This number grew significantly over the next seven years, reaching a total number of 345,000 active angel investors in 2018. This number remained unchanged in 2019. In 2020, the number declined, with 322, 000 active angel investors that year.

Volume of business angels active in early-stage investments in Europe from 2011 to 2020

Characteristic	Number of business angel investors
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Release date

December 2021

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Region

Europe

Survey time period

2011 to 2020

Supplementary notes

Data for 2011 to 2015 from the previous annual report from the same source.

As the source specifies in the disclaimer, "Due to its nature, the early stage investment market and especially the business angels investment market is difficult to quantify. An important percentage of the total investments are informal and not publicly reported."

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