Angel investors are still backing impact startups significantly despite a wider slowdown in tech funding, according to new data.
Research from Bethnal Green Ventures, HSBC Innovation Banking and Floww found that 84% of surveyed angels have made recent investments in tech for good startups, with 63% making the investment in 2022.
The survey found that the bulk of angel investors are motivated by the impact of their investments on people and the planet. Climate tech in particular was a major impact investment area identified by the research, which surveyed 100 angel investors predominantly based in the UK.
Angel investments in tech for good businesses was particularly resilient to the funding downturn. Just 8% of respondents expected to reduce impact investments despite more than a quarter expecting fewer deals to be made over the next year....