The demography of investor heaven : a synthesis of international research on the characteristics, attitudes, and investment behaviour of business angels

The purpose of this paper was to compile and compare the findings of all robust international research providing national profiles of business angels (informal venture capitalists). At the outset, it was not clear how comparable studies would be and, as the project advanced, it became clear that few direct comparisons would be possible. Nevertheless, there were broad categories common to many studies and consequently a template was developed and used to summarise each study in a consistent format. The resulting report thus provides a summary of the data across 16 studies covering 9 different countries, with key points from the findings of each study.

This is by no means an elegant report, but the authors believe it is a useful one. It provides a compendium of international angel research neatly bundled in one package. It should benefit anyone considering conducting the first study of business angels for their country or building on research already completed.