BUSINESS ANGELS AND LOVE MONEY INVESTORS: CHARACTERISTICS, AIMS AND MOTIVATION
In new venture development the largest single source of private equity capital is informal venture capital – i.e. angel investing. Empirical studies report that returns on informal investments made by friends or family members – i.e. love money investors of business founders may be higher than it was thought. Researchers focused on angel investors who mainly assumed male, middle-aged, high net-worth individuals with prior entrepreneurial experience investing in high-tech companies with which they have no family connections.
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