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Angel Investing: Changing Strategies During Volatile Times

Author

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  • Jeffrey E. Sohl

    (University of New Hampshire)

Abstract

Changing conditions in the angel market offer a unique opportunity to further knowledge and understanding about angel investing in the US during times of economic volatility. To identify trends in the angel market, this research examines changes in characteristics and investment behavior during a time of market expansion and contraction (2000 to 2001). While business angels remain the leading source of seed capital for business ventures, depressed yield rates and increased due diligence indicate that investors are retreating to more fundamental approaches.

Suggested Citation

  • Jeffrey E. Sohl, 2006. "Angel Investing: Changing Strategies During Volatile Times," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, vol. 11(2), pages 27-48, Summer.
  • Handle: RePEc:pep:journl:v:11:y:2006:i:2:p:27-48
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    References listed on IDEAS

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    1. N. Berger, Allen & F. Udell, Gregory, 1998. "The economics of small business finance: The roles of private equity and debt markets in the financial growth cycle," Journal of Banking & Finance, Elsevier, vol. 22(6-8), pages 613-673, August.
    2. Sapienza, Harry J. & Manigart, Sophie & Vermeir, Wim, 1996. "Venture capitalist governance and value added in four countries," Journal of Business Venturing, Elsevier, vol. 11(6), pages 439-469, November.
    3. Freear, John & Wetzel, William Jr., 1990. "Who bankrolls high-tech entrepreneurs?," Journal of Business Venturing, Elsevier, vol. 5(2), pages 77-89, March.
    4. Cassar, Gavin, 2004. "The financing of business start-ups," Journal of Business Venturing, Elsevier, vol. 19(2), pages 261-283, March.
    5. Sahlman, William A., 1990. "The structure and governance of venture-capital organizations," Journal of Financial Economics, Elsevier, vol. 27(2), pages 473-521, October.
    6. Fiet, James O., 1995. "Reliance upon informants in the venture capital industry," Journal of Business Venturing, Elsevier, vol. 10(3), pages 195-223, May.
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    Cited by:

    1. repec:kap:sbusec:v:50:y:2018:i:2:d:10.1007_s11187-016-9827-5 is not listed on IDEAS

    More about this item

    Keywords

    Angel; Angel Investing; Startup; Strategies;

    JEL classification:

    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups

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