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Angel investors were an active bunch in 2014-15. There was a whopping 81 per cent jump in investments with ₹70 crore in 47 deals. While they took high valuations in their stride, risk appetite — to invest in pre-revenue stage companies — seems to have waned. These findings are from the latest India Angel Report by InnoVen Capital. The study was based on investments of ₹204 crore made in 153 deals by five large angel groups in India between April 2011 and March 2015.
The report shows a few interesting trend reversals in 2014-15. For instance, median and maximum investment amounts were on a downtrend between 2010-11 and 2013-14. But in 2014-15, the median size touched ₹1.4 crore, sharply up from ₹52 lakh in 2013-14. Valuations of deals also moved higher. The share of investments made in revenue-generating companies touched an all-time high of 76 per cent, up from 40 per cent in 2011-12. Likewise, investors found comfort in adding on to their existing portfolio, rather than taking new bets. New investments accounted for just 74 per cent of all their investments in 2014-15, down from 94 per cent in 2012-13.
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