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European BA market is more optimistic than pre-COVID

A survey on the future of the Business Angels (BAs) environment in Europe was conducted by the European Investment Fund (EIF) in 2021–2022 in cooperation with Business Angels Europe.


According to the EIF BA poll, the European BA activities bounced back from the COVID-19 crisis and business angel investors have reportedly been highly upbeat. Particularly, portfolio company valuations have gone up and are expected to increase further and, on average, following a decline during the crisis in 2020.




More importantly, since last year, the perception of the business environment has also significantly improved and has returned to its pre-COVID levels.


However, challenges persist. Most BA-backed portfolio companies face issues in hiring top talent, gaining and keeping customers, while BA's face difficulties in finding more profitable investment possibilities.


Many thanks to of Ute Günther and Dr. Roland Kirchhof from Business Angels Netzwerk Deutschland e.V. (BAND) and, members of Business Angels Europe, for the excellent coordination and cooperation.


EIF Business Angels Survey 2021/22: Download the full report here.