The Q1 2014 Halo Report has been released by the Angel Resource Institute, Silicon Valley Bank and CB Insights. The Halo Report analyzes angel investment activity and trends in the United States. Here are a couple interesting Q1 2014 highlights:

  • The median angel round size jump to $980K (up from $750K in each of Q1 and Q4 2013);
  • The median round size was $1.65M when angel groups co-invest with other types of investors;
  • The median seed stage pre-money valuation increased slightly to $2.7M;
  • Angel groups continue to


Continue Reading Angel Investment Trends: Q1 2014 Halo Report

Bill Carleton has a good post regarding the recent comments from Keith Higgins, the Director of the Division of Corporation Finance, who spoke at the 2014 Angel Capital Association Summit.  Higgins discussed the SEC’s principles-based approach with respect to meeting the requirements of new Rule 506(c). 

Since the SEC’s adoption of new Rule 506(c) in September 2013 allowing general solicitation by issuing companies in certain circumstances, angel investors have been concerned about the accredited investor verification standards set forth in those new rules.  The debate has centered around what actions
Continue Reading Accredited Investor Verification under Rule 506(c)

Today the Angel Resource Institute, Silicon Valley Bank and CB Insights released their angel group 2013 year in review, the Halo Report. The Halo Report analyzes angel investment activity and trends in the United States. Here are a couple interesting 2013 highlights:

  • The median angel round size remained steady over the last three years at $600K;
  • The median angel round size for 2013 was $1.7M when angel groups co-invest with other types of investors, which was an increase over the median 2012 round size of $1.5M;
  • The


Continue Reading Angel investment trends; 2013 year in review

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Megan Muir

Although the dollar amounts may be relatively small, there is increasing competition for early stage startup investments that is driving up valuations.  Paul Graham talked about this phenomenon at Y Combinator’s annual Startup School (see here for Graham’s presentation).  VCs are making some small seed investments in dollar amounts you’d typically see from angels, creating pressure on other investors to get in a deal quickly and allowing founders to push valuations higher.  Dow Jones VentureWire reporter Tomio Geron has a good summary here.

The speed
Continue Reading Venture capitalists playing in the land of angels