The Returns From Informal Venture Capital Investments : An Exploratory Study  

Oleh:

Mason, Colin ; Suomi, Markku ; Lumme, Annareetta

Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Journal of Entrepreneurial and Small Business Finance vol. 5 no. 2 (1996), page 139-158.
Topik: VENTURE CAPITAL; returns gorm; informal venture; capital investment; exploratory study

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ40 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

Despite the recent increase in research on informal venture capital there are many aspects of this market for which no information exists. One such issue is exits. This explroatory study is the first to address this issue. It is based on a survey of 38 active business angels in finland who had mada a total of 155 investments, 20 of these investors had made 49 exits. Two aspects are addressd. First, evidence is presented on investment performance and the timing and method of exit. Second, the paper explores differences between those investors with a successful track - record of exits and those with an unsuccessfull track - record. Differences are identified in terms of motivations for investing, volume and sources of information on investment opportunities, prior relationship with investee businesses, perception of value - added and employment background. However, conclusions should only be regarded as suggestive in view of the small numbers involved.

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