Business angels are extremely difficult to identify. There are no public records of their investment transactions. They have a passion for privacy because their wealth makes them a target for all sorts of individuals and organisations seeking funding for commercial or charitable purposes. Hence, there are no directories or lists of private investors. Moreover, because of this fear of being identified, and then deluged with unwelcome funding proposals, allied to the private and personal nature of subject matter, they may be reluctant to respond to research surveys (Haar, Starr and MacMillan, 1988).
KeywordsVenture Capital Private Investor Mailing List Investment Activity Potential Investor
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Notes to Chapter 2
- 1.These are organisations which provide a service to introduce business angels and entrepreneurs seeking finance. However, in many countries research into business angels pre-dates the establishment of such organisations; indeed, the establishment of business angel networks is often the outcome of research studies.Google Scholar
- 2.It was subsequently found that taxable assets did not correlate with the likelihood of an individual being a business angel (see Chapter 11).Google Scholar
- 3.There were seven science parks in Finland at the time of the study.Google Scholar
- 4.See Blair (1996) and Knighton (1996) for case studies of this approach in the UK.Google Scholar