UNH's Jeff Sohl, Angel Returns "Quite Variable"
According to the 2009 Angel Market Analysis released by the Center for Venture Research at the University of New Hampshire, deal size was down 11% in 2009. Other tidbits:
"Angels decreased their investments of seed and start-up capital, with 35 percent of 2009 angel investments in the seed and start-up stage, a decrease of 10 percent from 2008."
"Mergers and acquisitions represented 54 percent of the angel exits, and bankruptcies accounted for 40 percent of the exits in 2009. Annual returns for angel's exits (mergers and acquisitions and IPOs) were between 23 percent and 38 percent, however, these returns were quite variable."









