BUCHAREST (Romania), January 27 (SeeNews) – TechAngels, the largest network of angel investors in Romania, invested 4 million euro ($4.85 million) in 75 startups last year – an investment about a third lower compared to 2019, it said on Wednesday.
Out of the 75 startups, around 60 were brand new entries in the network’s portfolio, while the remaining 15 received funding from the investors in 2019 as well, TechAngels said in a press release.
The portfolio of TechAngels members now comprises 175 startups in various sectors, yet all focusing on technology-based solutions.
“We have seen much more solutions in remote healthcare, education, in line with the sanitary situation we are seeing, but also solutions for services, retail, delivery, food, sales, marketing and other high-potential sectors,” TechAngels president Malin-Iulian Stefanescu said.
Investments were made through various methods: directly, individually, as angel investors, collectively, through TechAngels or via partner platforms or funds such as SeedBlink or GapMinder. Some 40% of the TechAngels members invested aggregate tickets of more than 25,000 euro in 2020, according to an internal survey, while 18% made no investments and the remaining members invested up to 25,000 euro, according to the press release.
“For 2021, I expect the same behavior in our segment: acceleration of efforts to identify startups with at least viable, promising products, ramp-up of support provided by angel investors, who also provide know-how and networking to help with development, but also caution materializing in placing the risk in ‘multiple baskets’, so we are likely to see more tickets, however their values will be moderate,” Stefanescu said.
TechAngels is an open group of private investors seeking to support the development of Romanian and regional technology startups. The association currently has 75 members, five more than at the end of 2019.