

Angel Investments See Early Stage Pre-Money Valuations Climb - arbuge
http://www.cbinsights.com/blog/angel-investment/halo-report-angel-investment-2012

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arbuge
I wonder how the rising valuations (many on AngelList are over $5m) will be
affecting expected returns for angels.

Expected angel returns circa 2007 were described here:

[http://www.kauffman.org/research-and-policy/returns-of-
angel...](http://www.kauffman.org/research-and-policy/returns-of-angels-
investors-in-groups.aspx)

Unless today's higher valuations are tied to a commensurate rise in company
quality and/or exit opportunities, it would seem that these returns are going
to come down significantly from what they have been historically.

