Publications

FiBAN actively gathers and shares business angel related studies and statistics. We are proud to work with ambitious business angels, distinguished Finnish research institutes and high-class universities to maintain a deep understanding of startup investing. For FiBAN's own research and investment statistics from previous years, go to fiban.org/data.

FiBAN Annual Investment Statistics

Every year since FiBAN was established in 2010, we have collected data about business angel investments in Finland by surveying our members. This constitutes Europe’s most comprehensive yearly survey for business angels. Using this data, annual angel investment statistics are published every spring together with statistics on venture capital activity made by the Finnish Venture Capital Association (Pääomasijoittajat ry).

Reports & Research on Angel Investing

Click the image to open the report.

FiBAN Annual Investment Statistics 2020

HALO Report, Angel Resource Institute, 2017

The State of Nordic Impact Startups 2020, Danske Bank, 2020

The State of Nordic Impact Startups 2021, Danske Bank, 2021

Business Angel Investment, Public Innovation Funding and Firm Growth, ETLA, 2019

The State of European Tech, Atomico, 2020

Helsinki Fintech Guide, 2021

Kansallinen Tutkimus Bisnesenkelisijoittamisen Kannattavuudesta, FiBAN, 2017

An exit-centric approach to business angel investing: The effect of angels’ experience and valuation on investment return, Oscar Björklund, 2021



Joukkorahoitusraportti, Repo Media, 2018



Angel investor syndication: Syndication and networks in Finland, Master's thesis by Paula Väätänen, University of Jyväskylä, 2021