ACA Releases 2023 Angel Funders Report

For Immediate Release 


2023 Angel Funders Report Released


Overland Park, KS (December 6, 2023) – The  Angel Capital Association (ACA) has released the Angel Funders Report for 2023. Published annually, the goal of the report is to increase awareness about angel investor activity and build a deeper understanding of the investing environment. The report provides context for seemingly disparate data points, identifies trends and highlights innovative ways that ACA members are working together to fuel the entrepreneurial ecosystem. 


“The AFR continues to be the definitive source of angel investing in North America. More than 60 angel groups provided us key data elements on their 2022 investments and outcomes, which has allowed the ACA to analyze this data and prepare key findings in 2022 that are consistent  with prior years and also provides new insights into angel investing especially given the overall macroeconomic trends in 2022. It was truly a great experience discovering these trends and preparing this report,” said Rick Timmins, Chair of the ACA Data Analytics Committee, and one of three lead authors. 


The ACA dedicates the incredible time and resources necessary to the project in order to bring out the science of angel investing to drive better outcomes. It’s supported in large part by the Angel Investor Foundation .


“With the latest release of our Angel Funders Report we have added another round of data elements that strengthens past insights while providing more accuracy in our analysis. Each year our data set grows allowing for rich new conclusions as well as affirmation of past trends making the AFR the definitive reference source for angel investors and entrepreneurs alike,” said Pat Gouhin , CEO of the Angel Capital Association.  


The Angel Funders Report is based on direct investment data solicited from ACA member groups. The organization collects data directly from a broad spectrum of angel investors, including leading angel groups across North America, and the resulting report provides powerful first-hand information on the current state of early stage investing. ACA angel investing experts analyze and enhance the data with their knowledge of trends and best practices, developing a comprehensive insider’s view to share with the broader investment community. The angel organizations that provide the information for the report take many forms—groups of ACA members, angel networks, angel funds, networks with sidecar funds and more.


Other data publications: 

Each month, the Data Analytics Committee publishes an article on data-driven topics that inform the outcomes for angel investors. Read more online.

Report Authors: 


Rick Timmins

Central Texas

Angel Network

ACA Data Analytics

Committee Chair

Dr. Ron Weissman

Band of Angels

ACA Board of Directors

Vice Chair

John Harbison

Chairmen Emeritus

Tech Coast Angels

ACA Data Analytics

Vice Chair


About the Angel Capital Association (ACA) 

The Angel Capital Association (ACA) is the professional association of angel investors across North America and offers education, best practices, data, public policy advocacy, and significant benefits and resources to its membership of more than 15,000 accredited investors, who invest individually or through its 250+ angel groups, accredited platforms, and family offices. Visit us online at . Contact: Dannielle Stewart, Marketing Director for the Angel Capital Association 720-496-3646, , for more information.



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