TechAngels' 2024 investments in local startups at EUR 3.777 ml, 25 pct up YoY

Investments by TechAngels group members in local startups increased almost threefold in H2 2024 to EUR 2.757 million, while the figure for the entire year is EUR 3.777 million, up 25 percent compared to 2023, the tech business supporting association said in a statement on Wednesday.

28 percent of the members invested in new startups for their personal portfolio, and 26 percent opted for "follow on" investments; also, 50 percent of TechAngels members made at least one investment in 2024, and between 25 and 30 businesses at the beginning of their journey joined the aggregate portfolio of TechAngels.

"The rounds backed by TechAngels investors targeted new startups in individual portfolios (28 percent of members) and follow-on investments in startups already in portfolios (26 percent of the members). Estimates show that approximately 26 - 30 startups from various industries joined the combined portfolio of over 240 of the investor network in 2024. 50 percent of investors chose not to invest this year. In 2024, network members reviewed over 200 local startups, of which 116 on the in-house working platform, and approximately 90 thereof presented pitches at weekly meetings. HealthTech solutions were on top with 14.66 percent of the reviewed startups, followed by FinTech with 12.93 percent, Proptech (10.34 percent), EdTech (8.82 percent), and mobility solutions (6.90 percent), showing a robust diversity of local solutions," the cited release states.

An internal survey of the association found that 75 percent of investors plan to continue investing, while approximately 25 percent - less than last year - said they will take a break in this regard. However, 60 percent of the members believe that tax regulations and the social climate could influence their decisions, which suggests a more cautious approach in 2025, the experts note.

TechAngels is an open group of private investors interested in supporting the development of technology start-ups in Romania and in the region. The association currently has over 130 members - entrepreneurs or C-level experts with extensive experience in the Romanian and worldwide market, in business planning, product development, market approach, sales, marketing etc.