In 2017, 25.7 percent of all angel capital group deals went to a founding team with at least one female founder, up from 17.0 percent in 2016, according to the Angel Resource Institute’s (ARI) HALO Report: 2017. The report also found a sizeable increase in the number of deals made for companies that included at least one minority female founder – 5.5 percent in 2017 (1.0 percent in 2016).
The HALO Report: 2017 is based upon data collected from angel groups as well as individual angel groups across the country. To collect the data, ARI uses both survey responses and PitchBook online resources. In total, the study’s database includes 3,617 deals made by angel groups. ARI, however, excluded deals with first-time investment rounds greater than $4 million to avoid skewing the data. ARI also excluded deals made by individual angel investors outside of groups in 2017 – they report that 1,499 such individual angel investor deals were made.
