the exit, which represents the moment when they leave the venture with the purpose of selling their shares. The potential … successful exit. In this article, we develop a multinomial logistic regression model based on the Crunchbase 2013 Snapshot that … relates the events of exit and closure to the amount of equity funds raised at different rounds, while controlling for …

market. Furthermore, the exit strategy and the industry financed have a significant impact on the IRR of angels' investments …