CTAN members made 15 new investments and 28 follow on investments into existing portfolio companies. That compares to $13.3 million invested in 43 companies in 2015.
The nonprofit organization also saw a 40 percent increase in 2016 in the number of members writing checks. The size of those checks also increase 100 percent to $674,000.
In addition, seven companies in the CTAN portfolio had exits in 2016, bringing the groups’ total to 23 exits.
“I’m pleased with the investment activity the last several years, but I’m most excited to see the 40 percent rise in the number of CTAN members writing checks, which is a key metric of investor activity for entrepreneurs and the community,” Claire England, executive director of Central Texas Angel Network, said in a news release.
Since 2006, CTAN members have invested more than $82.6 million into 142 companies. Its top investments are in information technology, mobile and software, life sciences, pharma and medical devices and consumer products, food and beverage.
“Our goal is to connect our members with quality early-stage investment opportunities and help accelerate our region’s growth into a major hub for business innovation,” Rick Timmins, board chair of CTAN, said in a news release.
CTAN represents more than 160 individual accredited investors. CTAN members have invested more than $82 million in more than 140 companies since 2006.
The deadline for CTAN’s third funding cycle is May 3rd.