Angel Investor 2026 Statistics (Updated September)

How many angel investors are there

1. 1

   445,535 angel investors were active in the US in 2024, up 5.5% from 422,350 in 2023, according to the Center for Venture Research at the University of New Hampshire.

   Source: Center for Venture Research, University of New Hampshire, 2025 ^[1]

2. 2

   FundingWatcher lists 23,916 individual angel investors and 2,362 angel groups; 10,893 of the angels (45.5%) are based in the United States.

   Source: FundingWatcher · investor file, data as of September 15, 2026 · 79,515 investors, of which 23,916 angels

3. 3

   24.3 million US households, 18.5% of all households, met the accredited investor tests in 2022, up from 1.51 million (1.8%) in 1983, SEC staff estimate.

   Source: U.S. Securities and Exchange Commission, Review of the Definition of Accredited Investor, 2023 ^[2]

4. 4

   If the thresholds stay unchanged, SEC staff predict that 45.8 million households, 31.4% of the total, will qualify as accredited investors by 2032.

   Source: U.S. Securities and Exchange Commission, Review of the Definition of Accredited Investor, 2023 ^[2]

5. 5

   The number of active angel investors in the UK rose 54% from 2022 to 2025, according to the UK Business Angels Association.

   Source: UK Business Angels Association, The UK Angel Investment Market 2025, 2025 ^[3]

6. 6

   Africa has more than 110 active angel networks and more than 5,000 accredited angel investors, according to the African Business Angel Network.

   Source: African Business Angel Network, 2025 Angel Survey Report, 2026 ^[4]

How much angel investors invest

1. 7

   US angels invested $17.9 billion in 2024, 3.1% less than in 2023, according to the Center for Venture Research.

   Source: Center for Venture Research, University of New Hampshire, 2025 ^[1]

2. 8

   55,346 US startups and small companies received angel funding in 2024, about the same number as in 2023, per the Center for Venture Research.

   Source: Center for Venture Research, University of New Hampshire, 2025 ^[1]

3. 9

   Business angels in the 39 countries EBAN covers invested €1,220 million in 2024.

   Source: EBAN Statistics Compendium 2024, 2025 ^[5]

4. 10

   UK angels invested €291 million in 2024, more than in any other European country and 5% less than in 2023, per EBAN.

   Source: EBAN Statistics Compendium 2024, 2025 ^[5]

5. 11

   German angels invested €162 million in 2024, about 18% less than in 2023, according to EBAN.

   Source: EBAN Statistics Compendium 2024, 2025 ^[5]

6. 12

   The average angel investment per company in Europe fell 7.4% to €204,981 in 2024, according to EBAN.

   Source: EBAN Statistics Compendium 2024, 2025 ^[5]

7. 13

   Angel groups reporting to the Angel Capital Association invested $491.3 million in 2025, 12% more than the $437 million they reported for 2024.

   Source: Angel Capital Association, Angel Funders Report 2026, 2026 ^[6]

8. 14

   Angel groups often co-invest with other groups and early-stage funds in rounds of $500,000 to $2 million, according to the Angel Capital Association.

   Source: Angel Capital Association, 2026 ^[7]

9. 15

   Finnish angels invested €46 million in 2025, 46% more than the year before, according to the Finnish Business Angels Network.

   Source: Finnish Business Angels Network (FiBAN), 2026 ^[8]

10. 16

    The median pre-money valuation of a Finnish startup that took angel money in 2025 was €1.52 million, per FiBAN.

    Source: Finnish Business Angels Network (FiBAN), 2026 ^[8]

What angel investors fund

1. 17

   Healthcare services and medical devices took 29.5% of US angel deals in 2024 and software 20.2%, per the Center for Venture Research.

   Source: Center for Venture Research, University of New Hampshire, 2025 ^[1]

2. 18

   Biotech was the third most common sector for US angel deals in 2024 at 15.5%, followed by industrial and clean energy at 7.8%, per the Center for Venture Research.

   Source: Center for Venture Research, University of New Hampshire, 2025 ^[1]

3. 19

   59% of US angel deals in 2024 went to seed and start-up stage companies, up from 36% in 2023, according to the Center for Venture Research.

   Source: Center for Venture Research, University of New Hampshire, 2025 ^[1]

4. 20

   Early-stage companies took 20% of US angel deals in 2024 and expansion-stage companies 15%, per the Center for Venture Research.

   Source: Center for Venture Research, University of New Hampshire, 2025 ^[1]

5. 21

   Medical devices, pharma, digital health and diagnostics together made up nearly 47% of angel investment reported to the Angel Capital Association in 2025.

   Source: Angel Capital Association, Angel Funders Report 2026, 2026 ^[6]

6. 22

   Each US angel investment in 2024 created 4.1 jobs on average, per the Center for Venture Research.

   Source: Center for Venture Research, University of New Hampshire, 2025 ^[1]

How often angels invest in the companies that pitch them

1. 23

   22.6% of the companies that pitched US angels in 2024 got an investment, close to the 24.2% of 2023, according to the Center for Venture Research.

   Source: Center for Venture Research, University of New Hampshire, 2025 ^[1]

2. 24

   Women-owned companies that sought angel money in 2024 got it 26.7% of the time, above the market-wide rate, per the Center for Venture Research.

   Source: Center for Venture Research, University of New Hampshire, 2025 ^[1]

3. 25

   Minority-owned companies made up 9.4% of those pitching US angels in 2024, and 32.4% of them were funded, per the Center for Venture Research.

   Source: Center for Venture Research, University of New Hampshire, 2025 ^[1]

4. 26

   Only 30% of funding proposals sent to UK angel networks got past the first screen, and fewer than 3% were funded, according to research reviewed in the International Small Business Journal.

   Source: International Small Business Journal, 2017 ^[9]

5. 27

   An angel group in Quebec invested in 2.4% of the proposals it received, per research reviewed in the International Small Business Journal.

   Source: International Small Business Journal, 2017 ^[9]

6. 28

   Only 4% of the companies that applied to an Italian angel group passed its pre-screening and screening stages, per research reviewed in the International Small Business Journal.

   Source: International Small Business Journal, 2017 ^[9]

7. 29

   In an experiment with 749 investors, including business angels, revenue growth ranked as the most important investment criterion, ahead of product value-added, the team's track record and profitability (Journal of Corporate Finance).

   Source: Journal of Corporate Finance, 2019 ^[10]

Who angel investors are

1. 30

   Women made up 39.1% of US angel investors in 2024, down from 46.7% in 2023, according to the Center for Venture Research.

   Source: Center for Venture Research, University of New Hampshire, 2025 ^[1]

2. 31

   Minority angels were 7.1% of US angel investors in 2024, per the Center for Venture Research.

   Source: Center for Venture Research, University of New Hampshire, 2025 ^[1]

3. 32

   53% of the angels who answered ABAN's 2025 survey invest on their own and 47% through angel networks or groups.

   Source: African Business Angel Network, 2025 Angel Survey Report, 2026 ^[4]

4. 33

   The 30 UK angels interviewed for a study in the International Small Business Journal were all men, 56 years old on average, and 90% had a university degree.

   Source: International Small Business Journal, 2017 ^[9]

What research says angel money does

1. 34

   Startups funded by angel groups showed 30% to 50% better survival, follow-on fundraising and web traffic growth than similar startups the groups turned down (Review of Financial Studies).

   Source: Review of Financial Studies, 2014 ^[11]

2. 35

   A study of 13 angel groups across 21 countries found that angel funding improves the growth, performance and survival of the startups it backs, and their later fundraising (Journal of Financial Economics).

   Source: Journal of Financial Economics, 2018 ^[12]

3. 36

   Angel investor tax credits in 31 US states raised angel investment but had no significant effect on the number of new high-growth companies (The Journal of Finance).

   Source: The Journal of Finance, 2023 ^[13]

4. 37

   Comparing 255 business angels with a machine learning model, researchers found the angels beat the algorithm's returns only when they had extensive investing experience (Entrepreneurship Theory and Practice).

   Source: Entrepreneurship Theory and Practice, 2022 ^[14]

5. 38

   In Scotland, angels made nearly three times as many investments as venture capital funds from 2012 to 2014 and invested 1.3 times as much money, in the £100,000 to £2 million range (Venture Capital journal).

   Source: Venture Capital (journal), 2016 ^[15]

6. 39

   Angels accounted for 10% to 15% of Scotland's risk capital investment by value from 2009 to 2014, while venture capital funds took well over half (Venture Capital journal).

   Source: Venture Capital (journal), 2016 ^[15]

7. 40

   Angels provided roughly 3% of the €17 billion Finnish startups raised over 16 years, according to FiBAN.

   Source: Finnish Business Angels Network (FiBAN), 2026 ^[8]

8. 41

   Finnish companies backed by angels had more than €4 billion in revenue and employed 14,000 people in 2025, according to FiBAN.

   Source: Finnish Business Angels Network (FiBAN), 2026 ^[8]

What 23,916 angel investor records show

1. 42

   74.1% of the angel investors in FundingWatcher have one or two recorded investments; 6.9% have ten or more.

   Source: FundingWatcher · investor file, data as of September 15, 2026 · 23,916 angels, 85,267 recorded investments · method

2. 43

   The most active 10% of angels in FundingWatcher (2,391 people) account for 57.0% of all recorded angel investments.

   Source: FundingWatcher · investor file, data as of September 15, 2026 · 85,267 investments by 23,916 angels · method

3. 44

   San Francisco is home to 2,023 angel investors in FundingWatcher, more than New York (1,645) or London (1,174).

   Source: FundingWatcher · investor file, data as of September 15, 2026 · 23,916 angels, home city · method

4. 45

   36.3% of the angel investors in FundingWatcher have at least one recorded exit.

   Source: FundingWatcher · investor file, data as of September 15, 2026 · 23,916 angels · method

Frequently asked questions

How many angel investors are there?

The Center for Venture Research counted 445,535 active angel investors in the US in 2024. Far more people are allowed to invest as angels: SEC staff estimate that 24.3 million US households met the accredited investor tests in 2022. FundingWatcher lists 23,916 angels worldwide with at least one disclosed investment.

How much do angel investors invest each year?

US angels invested $17.9 billion in 55,346 companies in 2024, according to the Center for Venture Research. In Europe, business angels in the 39 countries EBAN covers invested €1,220 million in 2024.

What percentage of startups get angel funding?

22.6% of the companies that pitched US angels in 2024 got an investment, per the Center for Venture Research. Angel networks are pickier: research on UK networks found fewer than 3% of proposals were funded, and a Quebec angel group funded 2.4%.

How many angel investors are women?

Women were 39.1% of US angel investors in 2024, down from 46.7% in 2023, according to the Center for Venture Research. Women-owned companies that pitched angels were funded 26.7% of the time.

Does angel funding help startups?

A study of two US angel groups in the Review of Financial Studies found funded startups did 30% to 50% better on survival, follow-on fundraising and growth than similar startups the groups turned down. A study of 13 angel groups in 21 countries in the Journal of Financial Economics found the same pattern.

Sources

1. [1]Center for Venture Research, University of New Hampshire. 2025.↑1 ↑7 ↑8 ↑17 ↑18 ↑19 ↑20 ↑22 ↑23 ↑24 ↑25 ↑30 ↑31
2. [2]U.S. Securities and Exchange Commission, Review of the Definition of Accredited Investor. 2023.↑3 ↑4
3. [3]UK Business Angels Association, The UK Angel Investment Market 2025. 2025.↑5
4. [4]African Business Angel Network, 2025 Angel Survey Report. 2026.↑6 ↑32
5. [5]EBAN Statistics Compendium 2024. 2025.↑9 ↑10 ↑11 ↑12
6. [6]Angel Capital Association, Angel Funders Report 2026. 2026.↑13 ↑21
7. [7]Angel Capital Association. 2026.↑14
8. [8]Finnish Business Angels Network (FiBAN). 2026.↑15 ↑16 ↑40 ↑41
9. [9]International Small Business Journal. 2017.↑26 ↑27 ↑28 ↑33
10. [10]Journal of Corporate Finance. 2019.↑29
11. [11]Review of Financial Studies. 2014.↑34
12. [12]Journal of Financial Economics. 2018.↑35
13. [13]The Journal of Finance. 2023.↑36
14. [14]Entrepreneurship Theory and Practice. 2022.↑37
15. [15]Venture Capital (journal). 2016.↑38 ↑39

Method

We searched Google for angel investor statistics, angel investing statistics and how many angel investors there are, read the pages that ranked, and traced each number to whoever produced it. Most US market numbers come from the Center for Venture Research at the University of New Hampshire, which has surveyed angels since 1980. Europe comes from EBAN, the SEC gives the count of households that qualify as accredited investors, and 11 numbers come from papers in finance and entrepreneurship journals, found through OpenAlex. Some of those papers use data from 2012 to 2016; the sentence says when. We checked every quote against the source on September 24, 2026. The five FundingWatcher numbers come from its investor file of 79,515 investors, built from public investor profiles, data as of September 15, 2026. An angel is a person whose investor type includes angel investor. The file only holds angels with at least one disclosed investment, so it undercounts angels who invest quietly: the Center for Venture Research counted 445,535 active US angels in 2024, against 10,893 US angels in our file.

FundingWatcher numbers new on this page:

• 74.1% of the angel investors in FundingWatcher have one or two recorded investments; 6.9% have ten or more. Recorded investment count per angel. Every angel in the investor file has at least one recorded investment; angels who never disclosed a deal are not in the file. The median angel has one.
• The most active 10% of angels in FundingWatcher (2,391 people) account for 57.0% of all recorded angel investments. Angels ranked by recorded investment count; share of the total held by the top tenth.
• San Francisco is home to 2,023 angel investors in FundingWatcher, more than New York (1,645) or London (1,174). Count by city as recorded on the angel's profile. Other Bay Area towns such as Palo Alto are counted separately.
• 36.3% of the angel investors in FundingWatcher have at least one recorded exit. Angels whose profile records one or more exits (acquisition or IPO of a company they backed). Exits that were never disclosed are missing, so the true share is likely higher.

All 45 statistics as a CSV: angel-investor-statistics.csv.

Cite this page

FundingWatcher, “Angel Investor 2026 Statistics (Updated September)”, updated September 2026, https://fundingwatcher.com/research/angel-investor-statistics/

To cite one number, link its anchor: each statistic has one, for example https://fundingwatcher.com/research/angel-investor-statistics/#stat-1.