The 2015 Annual Halo Report has been released by The Angel Resource Institute at Willamette University (ARI) and PitchBook.  The Halo Report analyzes angel group investment activity and trends in the United States.  Here are a couple interesting FY 2015 highlights:

  • The median seed-stage valuation for 2015 deals hit an all-time high of $4.6M (up from 53% from 2014);
  • The median and mean round sizes in deals with only angel investors climbed to $850K and $1.164M, respectively (both up materially from 2014);
  • The median and mean round sizes in deals when angels co-invest with non-angels also climbed to $1.6M and $2.0M, respectively (however, this was only a modest increase from 2014);
  • The Halo Reports provides a list of the most active angel groups by deal count in 2015;
  • California continues to be the leading region in terms of the most angel capital invested and highest angel deal count, but the New England-area basically doubled its share of both deals and dollars nationally in 2015; and
  • The top three industry sectors attracting angel investment continue to be software, healthcare and commercial services (in terms of both total dollars invested and total deal count).

A copy of the full report can be found here.

As many of us have witnessed, it has been a bit of a rocky start for the public and private investment markets so far in 2016. It will be interesting to see the Q1 2016 statistics when available and how dramatically they were impacted by the prevailing market conditions.