Towards a model of the business angel investment process

Paul, Saumik; Whittam, Geoff; Wyper, Janette

doi:10.1080/13691060601185425

Cited by 117 publications

(89 citation statements)

References 49 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…The investment process of business angels has been described as a stepwise process (Paul, Whittam and Wyper 2007 ), which is in line with work on formal venture capital (Tyebjee andBruno 1984, Fried andHisrich 1994), see Table 1 for a comparison of these steps in venture capital and business angel investments. This process involves potential investments being brought to the attention of the investor with a select few singled out for in-depth evaluation.…”

Section: Business Angels and Investments In Venturesmentioning

confidence: 97%

“…It is known that business angels devote considerable attention to post-investment activities, primarily through managing the venture (Paul, Whittam and Wyper 2007). In general, the focus is on proactive involvement rather than reactive management by exception (Ehrlich et al 1994;van Osnabrugge 1998), and there is no difference between experienced and inexperienced business angels (van Osnabrugge, 1998).…”

Section: The Post-investment Activities Of Business Angelsmentioning

confidence: 99%

“…Monitoring underlies the entire business angel investment process (Paul, Whittam and Wyper 2007). In some scholarly works, the entire post-investment stage of managing the investment is understood as nothing more than a period of monitoring venture progress (van Osnabrugge and Robinson 2000).…”

Section: The Monitoring Processmentioning

confidence: 99%

“…Through the sounding board role, these skills can be utilized in venture decision making, by providing strategic advice on different subjects (Madill, Haines and Riding 2005;Mason and Harrison 1996). Paul, Whittam, and Wyper (2007) explicitly mention that Scottish business angels are able to get the best out of a team in a reference to group leadership. This focus on decision-making and groups indicates that leadership by business angels in the material dimension is a process that plays out at the organizational level, rather than on the individual.…”

Section: The Leadership Processmentioning

confidence: 99%

See 3 more Smart Citations

Business angel post-investment activities: a multi-level review

Fili

Grünberg

2014

J Manag Gov

View full text Add to dashboard Cite

In this article, empirical research on post-investment activities of business angels is reviewed and conceptualized as five distinct governance processes: boundary spanning, structuring, leadership, doing, and monitoring. These processes have the potential to reduce the exposure of business angels to relational risk and market risk.The identification of these governance processes also contributes towards understanding the social aspect of business angels' post investment involvement. In particular, it is shown how the recognition of the cognitive/institutional dimension opens up for new questions about post-investment involvement. Finally, it is proposed that venture performance can be enhanced in practice if business angels and venture members develop skills that are connected to the governance processes.

show abstract

Section: Business Angels and Investments In Venturesmentioning

confidence: 97%

Section: The Post-investment Activities Of Business Angelsmentioning

confidence: 99%

Section: The Monitoring Processmentioning

confidence: 99%

Section: The Leadership Processmentioning

confidence: 99%

See 2 more Smart Citations

Business angel post-investment activities: a multi-level review

Fili

Grünberg

2014

J Manag Gov

View full text Add to dashboard Cite

show abstract

“…Angel investors, similar to the investors on the show, are high net worth individuals (net worth of more than $1 million) who invest in small companies with their own capital (Wong, Bhatia, & Freeman, 2009). The angel investment process is a sequential one with five main stages: familiarization, screening, bargaining, managing and harvesting (Paul, Whittam, & Wyper, 2007). Each stage in the process works as follows and is largely consistent with how Shark Tank operates.…”

Section: Literature Reviewmentioning

confidence: 99%

Know Your Worth: Angel Financing of Female Entrepreneurial Ventures

Poczter¹,

Shapsis²

2016

SSRN Journal

View full text Add to dashboard Cite

This study explores success rates in obtaining angel financing based on the gender composition of entrepreneurial teams using data from the television program Shark Tank.Consistent with prior work, we find that women-owned teams receive lower company valuations and less capital to finance their new ventures relative to their male counterparts. However, we find that the likelihood of a team receiving an offer from an angel investor is independent of the entrepreneurs' gender. We discover women-owned firms initially value their companies at significantly lower amounts than teams consisting of all males. Thus, angel investors provide lower final company valuations to women-owned firms because women, on average, ask for less.These results hold when controlling for important entrepreneur and firm characteristics that may strongly impact the angel financing outcome, such as the size of the entrepreneurial team, company age and prior success of the firm. We also find that the negative effect of a womenowned firm on the amount of financing received is highly dependent upon the industry the entrepreneurs choose to enter. JEL Classification: J15, L26, M13

show abstract

Business Angels Research in Entrepreneurial Finance: A Literature Review and a Research Agenda

Tenca

Croce

Ughetto

2019

Contemporary Topics in Finance

View full text Add to dashboard Cite

Since the seminal works of Wetzel, research on business angels (BAs) has emerged as a new and promising research field. This review analyses the current knowledge on BAs, identifying the main contents and outcomes. We also provide a bibliometric analysis to illustrate the evolution of the research field, the level of dispersion of the scientific community, the main outlets for publication and the different methodological approaches adopted. Through the analysis of backward and forward citations, we depict the current knowledge base on which BA research is grounded and whether it has any impact on other research fields.

show abstract

Towards a model of the business angel investment process

Cited by 117 publications

References 49 publications

Business angel post-investment activities: a multi-level review

Business angel post-investment activities: a multi-level review

Know Your Worth: Angel Financing of Female Entrepreneurial Ventures

Business Angels Research in Entrepreneurial Finance: A Literature Review and a Research Agenda

Contact Info

Product

Resources

About