An exploratory survey of Australia's informal venture capitalists : a predicate to theory building in the context of international angel research
Hindle, Kevin and Wenban, Robert 1997, An exploratory survey of Australia's informal venture capitalists : a predicate to theory building in the context of international angel research, in Frontiers of entrepreneurship research 1997 : proceedings of the Seventeenth Annual Entrepreneurship Research Conference, Center for Entrepreneurial Studies, Babson Park, Mass., pp. 1-25.
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Title
An exploratory survey of Australia's informal venture capitalists : a predicate to theory building in the context of international angel research
Frontiers of entrepreneurship research 1997 : proceedings of the Seventeenth Annual Entrepreneurship Research Conference
Publication date
1997
Start page
1
End page
25
Publisher
Center for Entrepreneurial Studies
Place of publication
Babson Park, Mass.
Summary
In Australia, as it is all over the world, finding and acquiring equity capital is one of the major problems facing entrepreneurs who are starting or growing entrepreneurial ventures. The informal venture capital market, made up of high net worth non-institutional private equity investors (or ‘business Angels’) provides risk capital directly to new and growing businesses and has been shown to be considerably more significant than institutional providers as a source of finance for entrepreneurial businesses. Building upon and comporting with Angel research undertaken overseas, this study generated and evaluated data resulting from an investigation of Australian business Angels which focused upon three primary research questions: (i) Who are Australia's Informal Venture Capitalists (Business Angels)? (ii) How do they behave? (iii) What are their investment criteria? Analysis of answers resulting from a survey of 36 carefully screened respondents produced a descriptive profile, depicted in twelve key graphs, of Australian Angels' identifying characteristics, patterns of investment behaviour and investment criteria. The study initiates Australian Angel research into the developing international continuum of formal Angel research and can serve as the generator of empirically sensible hypotheses for future research and theory development.
Language
eng
Field of Research
150399 Business and Management not elsewhere classified
Socio Economic Objective
910499 Management and Productivity not elsewhere classified