Today’s Insights 🔍 

• Total angel & family investments

• The High Trust Angel Network

• Early-stage startup capital

• Early-stage investments by sector

Read Time: 2.5 minutes

Total angel & family investments 📊 

European angel investors and family offices contributed 24% of the total startup investments for 2023. This amounted to $11bn out of the total of $45bn invested across European startups.

Both angel investors & family offices are key providers of early-stage capital for Europe, and with a heavily fragmented cross-border market they hold an important role in facilitating regional startup investments.

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Startup feature
The High Trust Network

Nordic Angels, a collective initiative established during the 2020 pandemic by Ash Pournouri and Andreas Grape, aims to unify angel investors within the Nordic startup ecosystem to support the transition towards digitalization.

Their current platform facilitates deal flow sharing, networking, and the formation of syndicates/SPVs through digital tools and events with an aim to enhance early-stage startup investment opportunities and connections among angel investors.

With major future expansions planned for 2024, including Partner Incorporations, Angel Office, and Capital Insurance, they aim to further leverage the angel network to create a collaborative nature.

For the case of Nordic Angels, it highlights the importance of angel investors in building the early-stage infrastructure, while VCs and corporate investors provide growth capital focusing more on established startups.

Early-stage startup capital ⚖️

In 2023, early-stage startups in Europe secured $17.6bn, with $3.1bn coming from angel investors and family offices. Seed-stage investments for Europe represent a third of global early-stage funding and is on par with US early-stage funding.

Angel investors & family offices total almost 18% of early-stage startup investments. These investors are often willing to take on greater levels of risk for initial investments than VC’s or institutional firms. As such they hold an important role as early-stage investors for disruptive startups in Europe. Read about the angel investor for Klarna which owned 10%

Early stage investments by sector 💹 

The leading sectors of European early-stage investments are health, energy and fintech. A notable trend is a significant uptrend in energy startup investments which as increased by 259% from $946M in 2019 to $3.4B in 2023.

Investments in these sectors are heavily impacted by government regulations & incentives which is a notable driver of where European investors & government capital are committed.

SearchVentures Insights

The data underscores the role of angel investors & family offices in Europe, contributing $11bn of $45bn total startup investments. Early-stage sectors like health, energy, and fintech saw significant funding, with energy investments surging by 259% from 2019.

A key insight is that European angel investors and family offices are pivotal in early-stage funding, especially in emerging sectors like energy, highlighting their critical role in navigating the fragmented cross-border investment landscape.

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Odin Lund & Hariprasad Mohandas