The source added the following information "We can only perceive angel investment through the visible part of the market. The estimation of the invisible market is an assumption EBAN adopts considering previous reports published on this topic. As for 2020, we considered the visible market in Europe to be 10% of the overall one. These 1 to 10 ratios were also maintained between 2012-2020. The visible market encompasses activity undertaken by investors gathered in business angel networks and either having a direct relation
with EBAN or those reporting through a national federation. It also comprises networks from which access to information is limited but its existence and activity are known by other players of the industry, such as National Venture Capital Associations".
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Value of business angel investments in Europe 2014-2020, by market
The value of business angel investments in Europe increased overall between 2014 and 2020. Total business angel investments in Europe can only be estimated through the visible market, which amounted to approximately *** million euros in 2020. With the visible market accounting for an estimated *** percent of the entire market in 2020, the estimated value of investments on the non-visible market totaled over *** billion euros.
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EBAN. (December 3, 2021). Total value of business angel investments in Europe from 2014 to 2020, by market (in million euros) [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved August 04, 2026, from /statistics/889583/business-angel-investments-in-europe-by-visible-and-non-visible-market/
EBAN. "Total value of business angel investments in Europe from 2014 to 2020, by market (in million euros)." Chart. December 3, 2021. ÌÇÐÄÆƽâ°æ. Accessed August 04, 2026. /statistics/889583/business-angel-investments-in-europe-by-visible-and-non-visible-market/
EBAN. (2021). Total value of business angel investments in Europe from 2014 to 2020, by market (in million euros). ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: August 04, 2026. /statistics/889583/business-angel-investments-in-europe-by-visible-and-non-visible-market/
EBAN. "Total Value of Business Angel Investments in Europe from 2014 to 2020, by Market (in Million Euros)." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 3 Dec 2021, /statistics/889583/business-angel-investments-in-europe-by-visible-and-non-visible-market/
EBAN, Total value of business angel investments in Europe from 2014 to 2020, by market (in million euros) ÌÇÐÄÆƽâ°æ, /statistics/889583/business-angel-investments-in-europe-by-visible-and-non-visible-market/ (last visited August 04, 2026)
Total value of business angel investments in Europe from 2014 to 2020, by market (in million euros) [Graph], EBAN, December 3, 2021. [Online]. Available: /statistics/889583/business-angel-investments-in-europe-by-visible-and-non-visible-market/
