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Angel Investing
Book

Angel Investing

Matching Start-Up Funds with Start-up Companies - The Guide for Entrepreneurs, Individual Investors, and Venture Capitalists

Robert J. Robinson and Mark Van Osnabrugge
Jossey-Bass, 2000
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Editorial Rating

8

Qualities

  • Applicable

Recommendation

This fascinating book balances thorough academic scholarship (every reference is detailed, in the manner of scientific texts) with practical information for entrepreneurs and investors. The subject matter is among the most critical areas facing the "New Economy." Understanding and finding equity investors is vital as more and more people are challenged to take charge of their own fate and become entrepreneurs. This book bills itself as the first serious examination of the "business angel" capital market, and so it fills a critical need. Its suggestions are presented in plain, emphatic language and both investors and entrepreneurs should find it straightforward - though not necessarily easy - to implement them. The authors even manage to slip in some appropriate humor along the way. Their preface says this book should be read by anyone who is considering starting a firm, considering investing in a firm, seeking investors in a firm or considering an IPO for a firm. getAbstract agrees.

Summary

Angels Exist

Business angels are among the most important, least understood players on today’s entrepreneurial scene, delivering more funding to more start-ups than any other source. If you are an entrepreneur, you need information about who they are, how they work and how to find them. And if you want to be an angel, you need to know where to invest.

Upper-middle-class individuals who seek to invest directly in start-up companies are a growing phenomenon in the American economy. These are usually people who started their own successful firms and now want to invest their money and experience in new ventures. They’re often called "business angels" because they have a reputation for saving struggling firms with their money and expertise. Business angels have been, and still are, the most important way for entrepreneurial firms to get outside funds.

Most small firms start by bootstrapping: raising funds creatively without going through traditional sources like banks. Bootstrapping is probably the best way to get a firm going until it needs outside equity capital, which most small firms need. Venture capitalists rarely get involved with firms that seek less than $...

About the Authors

Mark Van Osnabrugge has spent many years studying the business angel and venture capital markets. He holds a B.B.A. degree from the University of Wisconsin-Madison and a Ph.D., from Oxford University. He recently completed a fellowship at the Harvard Business School and is currently a management consultant at Marakon Associates. Robert J. Robinson has B.A. and M.A. degrees from the University of Cape Town and a Ph.D., from Stanford University. He is an associate professor at the Harvard Business School, where he teaches courses in Negotiation and Entrepreneurial Negotiation.

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