• Total direct investments of around €1.6 million in technology startups in 2025
• Around a quarter of active members have made investments in new startups, 63% chose not to invest
• Follow-on rounds have focused higher volumes of capital
• Over 300 startups analyzed, 81 met in pitches, with a focus on AI, deep tech, health and specialized solutions
• Expanded regional involvement and a new Board of Directors for the 2025–2027 mandate
Bucharest, February 4, 2026 – In 2025, TechAngels members made direct investments of over 1.6 million euros in technology startups. Of this amount, approximately 923,000 euros were invested in the first half of the year, and approximately 687,000 euros in the second semester. Approximately 25% of respondents to the TechAngels internal analysis invested in new startups during the year, while 10–12% participated in follow-on rounds. 63% of respondents chose not to invest.
In terms of value, investments in new companies totaled approximately 650,000 euros, and follow-on rounds attracted around 950,000 euros, indicating a concentration of capital in supporting companies already in the portfolio. Compared to the previous year, the volume of direct investments made by TechAngels investors in technology startups was approximately 58% of the level recorded in 2024.
The economic and fiscal context in 2025 influenced how investors approached financing decisions. The high level of uncertainty and regulatory changes led some business angels to temporarily adjust their exposure, while others continued to invest in a more carefully calibrated framework.
The availability of capital was not the main limiting factor of the year. Investments were conditioned mainly by the level of preparation of the startups and their ability to clearly demonstrate the value of the product, traction and direction of development.
“In situations where these premises were met, investors’ interest materialized quickly. An example is the financing round for OptiComm AI, where interest exceeded the initially established allocation. When the fundamentals are solid, private capital is mobilized efficiently, even in a more cautious general climate,” says Marius Istrate, Chairman of the Board of Directors, TechAngels.
During 2025, TechAngels analyzed over 300 startups, of which 81 were presented during the weekly pitches. The majority of these came from the AI and deep tech areas, followed by solutions in the fields of healthcare, human resources, fintech, edtech and mobility.
Startups funded in 2025 include OptiCom.AI, Evopath, Finor, GapApp and AnimaFelix, while follow-on rounds supported companies such as Quarks Interactive, SalesOmmo, FieldOS and FoodFix. Some of the investments were made through syndication, reflecting the network’s ability to coordinate private capital around validated projects.
The year 2025 also saw more visible membership fluctuations, with more frequent entries and exits compared to 2024, amid a climate marked by more cautious decisions and reassessments of investment strategies. TechAngels remains a stable community, with over 130 active members, and this increased mobility reflects the natural adaptation to market conditions.
“In a year marked by economic uncertainty and multiple legislative changes, TechAngels angel investors have consistently invested in local startups. This performance was achieved despite some administrative and regulatory frictions. A more agile and proportionate investment review mechanism could transform this potential into a real competitive advantage for Romania,” emphasizes Vasile Țiple, member of the TechAngels Board.
In parallel with the investment activity, TechAngels has expanded its involvement in projects aimed at developing sector-specific public policies, on the one hand, and in the regional and European ecosystem, on the other. The network members were present at events of the European investor networks, EBAN and BAE, of which the association is a member, and of tech communities from 9 countries (UK, Slovenia, Bulgaria, Germany, Croatia, Hungary, Moldova, Belgium, Greece), facilitating the connection of Romanian investors to international business angel communities and the exposure of local startups to cross-border opportunities.
Starting with October 2025, TechAngels has a new Board of Directors for the 2025–2027 term, reconfirming Marius Istrate as President. The Board of Directors consists of Mălin-Iulian Ștefănescu, Sebastian Cochinescu, Ana-Maria Andronic, Mihaela Matei, Cosmin Curticăpean, Vasile Țiple and Gabriel Pană.
The mandate priority directions include developing the lead angel role, structured onboarding programs for new members, expanding international partnerships, post-investment support, and continuing dialogue with authorities to improve the legislative framework dedicated to angel investments.