Angel groups sprout wings

The number of angel groups nationwide increased about 60% over the last three years, from an estimated 150 in 2002 to 250 last year, according to an study released last week by the Angel Capital Education Foundation (ACEF) and the Ewing Marion Kauffman Foundation.

The survey of angel investors also revealed that each group invested on average about $1.5 million last year and $266,000 per a company’s round.

The study found that angel groups are also syndicating more deals, and they’re co-investing more often with venture investors. The report found that 45% of the reported angel deals involved co-investing with venture firms last year.

As the percent of venture capital dollars invested in early stage companies continues to drop relative to the total dollars venture capitalists invest, angel groups are playing an important role in the funding of startups,” said Marianne Hudson, ACEF spokeswoman.