The Central Texas Angel Network, known as CTAN, is once again one of the most active angel investment networks in the country, by number of deals done in 2016, according to the 2016 HALO report.

The Angel Resource Institute, along with PitchBook, released the annual report last week.

In 2016, the most active angel groups included CTAN, Houston Angel Network, Hyde Park Angel Network, Alliance of Angels, Launchpad Venture Group, New York Angels, Blu Venture Investors, RTP Capital, Queen City Angels and St. Louis Arch Angels, according to the HALO report.

“CTAN’s position in the ARI national rankings reflects the intense time and effort our members commit to startups,” Claire England, Executive Director of Central Texas Angel Network, said in a news release. “Beyond increased funding levels, we saw record investor participation in 2016, with a 40% growth in the number of members writing checks.”

CTAN, a nonprofit organization with more than 160 accredited investor members, reported its members invested $14.2 million into 43 companies last year.

CTAN also made the HALO list of the most active angel networks in 2015.

Overall, in 2016, direct investments reported from U.S. angel groups more than doubled from 2015, according to the HALO report.

The report identified the trend of pre-money, early stage valuations declined from $4.6 million in 2015 to $3.7 million last year.

“The median round size for deals where angel groups co-invest with other investors in first round deals dropped to $950,000 from $1.6 million,” according to the report. “Median deal size from angel groups reached $127,000.”

In 2016, follow on funding accounted for 50.4 percent of deals funded by angel groups, according to the HALO report.

Texas, California, the Northeast and Southeast are the regions where new deals outpaced follow on rounds, according to Tony Knauss, co-chairman of the research committee for the Angel Resource Institute.

California accounted for 30 percent of all angel funded early-stage deals in 2016, followed by the Southeast, New York and the Northeast, all at about 10 percent, according to the report. Texas accounted for 5.4 percent of all angel deals.

Most of the deals were in the software industry with 34.3 percent, followed by healthcare with 17.3 percent, business to business with 13 percent, Internet and mobile at 11.2 percent and business to consumer at 10.3 percent.

Overall, male founders represented the bulk of funded deals with 58 percent led or founded by white male entrepreneurs, according to the HALO report, followed by 25 percent of deals led or founded by minority male entrepreneurs and 14 percent of deals led or founded by white female entrepreneurs and 3 percent of deals led or founded by minority female entrepreneurs, according to the report.

In Texas, investors wrote checks to male entrepreneurs 85 percent of the time, according to the report.