Angel investors increase deal sizes and investments in the mobile sector while valuations and syndication activity dip slightly.
We just issued our Q3 2012 Halo Report in conjunction with Silicon Valley Bank and the Angel Resource Institute earlier today and wanted to highlight a few notable items. The full report and infographic are embedded below as well.
- Median Angel Round Size Hit Five Quarter High: In Q3 2012, the median size of angel & angel group syndicate rounds reaches $640K, the highest in the five quarters the data has been tracked.
- Early Stage Valuations Remain Stable: The median pre-money valuation for early stage angel group deals is $2.6M, slightly down from $2.7M in Q2, for a rolling 12 month period.
- Syndications Declined in Q3. We don’t know the significance of this finding yet, but thought it was an interesting data point that we will continue to monitor.
- Investments in Mobile Companies Jumped Up: Mobile companies saw increases in both deals and dollars; the share of deals for mobile companies reaches five quarter high.
- 10% of Angel Group Deals are structured as convertible debt, 2012 YTD. We just started tracking this, so we don’t know how it’s trending yet, but we do know that is significantly higher than with venture capital.