According to a report by Colin Mason, there is a wide range in overall angel deal size, ranging from less than £25,000 to over £1m (the two biggest being deals of £5.8m and £18m). However, most deals are in the £50,000 – £500,000 range. Fewer than 10% of deals were for £1m or more. LINC Scotland investments are slightly larger, with 51% of £200,000 or more compared with 45% of BBAA investments.
Deal sizes were smaller in 2009/10 than in 2008/09: 56% of BBAA investments in 2009/10 were under £200,000 compared with 48% in 2008/09. This was even more extreme in the case of LINC Scotland where 49% were under £200,000 compared with only 36% in 2008/09.