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.