January 31 (SeeNews) - Romanian angel investor network TechAngels said on Wednesday its members invested 2.928 million euro ($3.17 million) in startups in 2023, half the amount invested a year earlier, as the decline mirrored European and global trends.
The investments made in the second half of 2023 totalled 1.856 million euro, TechAngels said in a press release.
"The number of those who decided to invest has been constant, with 25% of the investors being active each half year and 36% for the year as a whole," TechAngels board chairman Marius Istrate said.
"The amounts planned for investment in 2024, according to the members’ statements, are 25% higher than last year and the percentage of those who plan to be active is around 50%," he added.
In the second half of 2023, 12.5% of TechAngels investors allocated up to 25,000 euro for investments, 6.5% between 25,000 and 100,000 euro, 2% between 100,000 and 150,000 euro, and 1.5% over 200,000 euro.
Throughout the year, TechAngels investors evaluated 250 startups, engaging with 94 through pitch meetings.
TechAngels was established some ten years ago and has 140 members. The network has so far contributed over 43 million euro to the local tech ecosystem.
($=0.923708 euro)