Latest ARI HALO Report on angel investing released

The 2020 edition of the HALO ReportTM from the Angel Resource Institute in collaboration with Pitchbook is now available for downloading at this link.

According to a summary of the findings published by the State Science and Technology Institute (SSTI), $4.62 billion was invested by angels into seed and Series A companies. Seed and pre-seed accounted for $2.84 billion of the total transactions while Series A amounted to $1.02 billion. SSTI suggested the remainder of the transactions were “in unclear stages that precede Series B.” This was an increase from 2019, which saw $4.33 billion in total angel investments with $2.5 billion in seed companies.

Not surprising, more than 21 percent of all deals were made in California — an increase of more than two percentage points from 2019. Companies in the Southeast and Southwest, however, continued an upward trend in terms of percentage of deals in the U.S.

Stay connected with us on Twitter and LinkedIn. Article ideas and other suggestions should be sent to Include the name and contact information (phone and email) for follow-up.