Number of business angels in Europe 2014-2020

Includes visible and non-visible markets.

The source added the following information "We can only perceive angel investment through the visible part of the market. The estimation of the invisible market is an assumption EBAN adopts considering previous reports published on this topic. As for 2020, we considered the visible market in Europe to be 10% of the overall one. These 1 to 10 ratios were also maintained between 2012-2020. The visible market encompasses activity undertaken by investors gathered in business angel networks and either having a direct relation with EBAN or those reporting through a national federation. It also comprises networks from which access to information is limited but its existence and activity are known by other players of the industry, such as National Venture Capital Associations".