정책동향
Financing High-Growth Firms : THE ROLE OF ANGEL INVESTORS
- 등록일2012-03-26
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자료발간일
2011-12-20
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출처
OECD
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원문링크
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키워드
#엔젤투자
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Financing_high_growth_firms_angel_investors.pdf
Financing High-Growth Firms
THE ROLE OF ANGEL INVESTORS
Executive summary
Access to finance for new and innovative small firms involves both debt and equity finance. Even before the recent financial crisis, banks were reluctant to lend to small, young firms due to their perceived riskiness and lack of collateral. The financial crisis widened the existing gap at the seed and early stage with bank lending to falling start-ups and venture capital
firms moving to later investment stages where risks are lower.
Angel investors, who are often experienced entrepreneurs or business people, have become increasingly recognised as an important source of equity capital at the seed and early stage of company formation. With fewer and fewer venture capitalists investing at the early stage, the equity funding gap between individual angel investment and venture capital has grown dramatically. Angel investors have sought to fill this gap by investing with other angel investors through groups and syndicates, increasing the total deal size for companies seeking early-stage financing.
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