My MatchingWINGS

Published angel investments: 15 million euro in 2nd half 2018

Not only in the Netherlands but throughout Europe there is an incomplete picture of angel investments. In the European Business Angel Network (EBAN) Statistics Compendium it is still assumed that the visible angel investments represent only a fraction (10%) of the total market. We have experienced that the new tools, such as Dealroom.co where companies can report their financing rounds, are indeed not complete. On the one hand Dealroom.co data does not always label a transaction as an angel round while other sources mention explicitly that it comes from named or anonymous private investors. On the other hand, not all financing rounds of startups can be found on the Dealroom.co website.

As matchingWINGS, we find it important to get a better understanding of the Dutch angel market. With data we want to show that angel investments are an important source for financing innovative startups. For this reason, we have tracked the transactions we encountered in online sources (LinkedIn posts, start-up media such as Sprout and Silicon Canals, newsletters from accelerators and startups, press releases) over the past six months (July-December 2018). Our definition of an angel investment is an investment made by a private investor whom invests with own money and at own risk. An angel investment can take place both in seed phase and at a later stage. We only considered transactions where shares or convertible loans were issued. Equity-based crowdfunding projects have been left out of consideration.

In the second half of 2018, we were able to trace 19 transactions by angel investors in which a total amount of 14.85 million euros was invested. There were a few transactions of more than one million euros that raised the average investment (780,000 euros). The median (300,000 euros) shows a more ‘typical’ size of an angel investment.

 

Quicargo 3.000.000
Crisp 3.000.000
Capayable /In3 2.000.000
Madam Therapeutics 1.100.000
Brenger 950.000
Scanmovers 750.000
TicTaq 500.000
OptNet 500.000
Ligo 500.000
Coastr 300.000
Closure 300.000
Holler (Consent.io) 300.000
Shopsuite 300.000
Cafedeco 300.000
Klippa 250.000
3D Click 225.000
Blockdata 200.000
Eco-movement 200.000
Pickthisup 170.000

 

The method of data collection we use seems to provide more insight into the size of the visible Dutch angel investment than the survey method used by the EBAN. EBAN reports 12.8 million euros of Dutch angel investments on an annual basis (2017), while we have already reached a higher amount for half a year. Nevertheless, we are aware that a large number of transactions are still not in our list, for example the angel transactions that are coordinated by the major banks.

In addition to the transactions of private investors alone, we see that in the past six months, angels were also involved in transactions of Venture Capital funds, Regional Development Companies (RDCs), Corporates Venturing deals and innovation credits (8 transactions representing a total value of 19 million euro). The share of the angels in these transactions is not known. We assume that in the VC deals the share of angels will be limited, but its role in investments by RDCs and the investment credit through the obligation of private matching is not only conditional but also more extensive.