The members of the Romanian angel investor network TechAngels put EUR 2.757 million in direct investments in tech startups in the second half of 2024, almost triple the amount invested in the year's first half.

The investments for the entire 2024 rose to EUR 3.777 million, a 25% year-on-year increase.

The rounds backed by TechAngels investors targeted new startups in the individual portfolios (28% of the members), as well as follow-on investments in the startups already in their portfolios (26% of the members). Estimates show that, in 2024, approximately 26-to-30 startups from various industries joined the investor network's consolidated portfolio consisting of more than 240 companies. A total of 50% of the investors chose not to invest in 2024.

Throughout the year, more than 200 local startups were reviewed by the network's members, including 116 on the in-house platform, with around 90 of those presenting pitches in weekly meetings. HealthTech solutions ranked first with 14.66% of the assessed startups, followed by FinTech (12.93%), Proptech (10.34%), EdTech (8.82%), and mobility solutions (6.90%).

"2024 was a year of growth for TechAngels, reflecting both the potential of Romanian entrepreneurs and the investors' determination to support the tech ecosystem. This is a decisive moment where innovation, global connectivity, and a free market have proven their strategic value," Marius Istrate, president of TechAngels, explained.

According to an internal survey, 75% of the investors plan to continue investing, while approximately 25% said they would take a break from investments, less than the previous year.

However, 60% of the members believe that tax regulations and social climate may influence their decisions, which suggests a more cautious approach in 2025.

"We will continue strengthening the entrepreneur and investor community by promoting unity, democracy, and the impact of private capital. We take on the mission to help create 10 Romanian unicorn companies in the next decade, turning Romania into a globally acknowledged innovation hub," Istrate added.

TechAngels is an open group of private investors seeking to support the development of Romanian and regional technology startups. The association currently has more than 130 members. The group's investors are entrepreneurs or C-level professionals with multinational companies, with extensive experience on the Romanian and global markets, in business planning, product development, market approach, sales, marketing, etc. As angel investors, the group's members provide mentorship and advice to the selected startups. TechAngels' portfolio now includes more than 270 startups. The group's investments in the local startup ecosystem have amounted to EUR 46 million over the last 12 years.

(Photo: Artur Szczybylo/ Dreamstime)

simona@romania-insider.com