Despite the recent increase in research on informal venture capital there are many aspects of this market for which no information exists. One such issue is exits. This exploratory study is the first to address this issue. It is based on a survey of 38 active business angels in Finland who had...

Small businesses in virtually all industrialized countries find it increasingly difficult to obtain finance from institutional sources. Banks have become more risk-averse; venture capital funds, previously of only marginal significance, are now often concentrating their investments on established...

Despite the recent increase in research on informal venture capital there are many aspects of this market for which no information exists. One such issue is exits. This exploratory study is the first to address this issue. It is based on a survey of 38 active business angels in Finland who had...