A total of 547 angel investment deals have been signed in the first 11 months in China totaling $341.4 million, a 69.6 percent increase compared with the whole last year, according to a report of Zero2IPO Group on Wednesday.

Ni Zhengdong, chairman of Zero2IPO Group, said that lots of angel investment institutions and funds were set up in 2014, stimulated by the rising number of start-up deals.

Ni said 55 new angel investment funds have been set up this year and their scale has reached $700 million.

Venture capital companies also have focused on deals at early development stage and about 60 percent of their funds are invested in these deals, said the report.