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The Globalization of Angel Investments
Report

The Globalization of Angel Investments

Josh Lerner, Antoinette Schoar, Stanislav Sokolinski and Karen Wilson
Bruegel, 2015
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Editorial Rating

8

Qualities

  • Analytical
  • Scientific
  • Eye Opening

Recommendation

Angel investors are rapidly becoming an important source of capital for growing companies around the world, and angels’ influence on firm outcomes may be more powerful than many people believe. Angel participation in businesses improves start-ups’ performance, longevity and growth, according to this scholarly paper from experts Josh Lerner, Antoinette Schoar, Stanislav Sokolinski and Karen Wilson. getAbstract recommends their illuminating work to investors and entrepreneurs interested in global angel investing.

Take-Aways

  • Like venture capitalists (VCs), angel investors fund early-stage businesses, conduct due diligence and mentor companies in their portfolios. Unlike VCs, however, angels invest their own money.
  • Angel investments appear to influence outcomes for start-ups significantly.
  • Because they lack the analytical expertise and diversified portfolios of VCs, angels might be more risk averse than VCs and thus wary of new and complex sectors.

About the Authors

Josh Lerner is a professor at Harvard Business School, where Stanislav Sokolinski is a PhD candidate. Antoinette Schoar is a professor at MIT. Karen Wilson is a senior fellow at Bruegel, a European think tank.

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