1,084
Views
129
CrossRef citations to date
0
Altmetric
Original Articles

Barriers to investment in the informal venture capital sector

Pages 271-287 | Published online: 09 Nov 2010

References

  • Advisory Council on Science and Technology (ACOST) . 1990 . The Enterprise Challenge: Overcoming Barriers to Growth in Small Firms , London : HMSO .
  • Anderson , M. 1998 . Is The City Angelic? , London : London Business School .
  • Barker , J. S. 1999 . A study of business angel decision making and the control of market, technology and agency risk , Department of Geography, University of Southampton . Unpublished B.Sc. dissertation
  • Benjamin , G. A. and Margulis , J. 2000 . Angel Financing: How to Find and Invest in Private Equity , New York : Wiley .
  • Blatt , R. and Riding , A. 1996 . “ …Where angels fear to tread’ : some lessons from the Canada Opportunities Investment Network experience ” . In Informal Venture Capital: Evaluating the Impact of Business Introduction Services , Edited by: Harrison , R. T. and Mason , C. M. 75 – 88 . Hemel Hempstead : Prentice-Hall .
  • British Venture Capital Association [BVCA] . 2001 . Report on Investment Activity , BVCA : London .
  • Department of Trade and Industry . 1999 . Addressing the SME Equity Gap: Support for Regional Venture Capital Funds , URN 99/876 DTI: Small and Medium Enterprise Policy Directorate, Sheffield .
  • Feeney , L. , Haines , G. H. and Riding , A. L. 1999 . Private investors' investment criteria: insights from qualitative data . Venture Capital: An International Journal of Entrepreneurial Finance , 1 : 121 – 145 .
  • Fiet , J. O. 1995a . Reliance upon informants in the venture capital industry . Journal of Business Venturing , 10 : 195 – 223 .
  • Fiet , J. O. 1995b . Risk avoidance strategies in venture capital markets . Journal of Management Studies , 34 : 551 – 574 .
  • Freear , J. , Sohl , J. and Wetzel , W. E. Jr. 1992 . “ The investment attitudes, behavior and characteristics of high net worth individuals ” . In Frontiers of Entrepreneurship Research , Edited by: Churchill , N. C. , Birley , S. , Bygrave , W. D. , Muzyka , D. F. , Wahlbin , C. and Wetzel , W. E. Jr . 374 – 387 . Babson Park, MA : Babson College .
  • Freear , J. , Sohl , J. and Wetzel , W. E. Jr . 1994 . Angels and non-angels: are there differences? . Journal of Business Venturing , 9 : 109 – 123 .
  • Freear , J. , Sohl , J. and Wetzel , W. E. Jr. Technology due diligence: what angels consider important . 16th Babson-Kauffman Foundation Entrepreneurship Research Conference . Seattle.
  • Grahame , D. 18 April 2001 . Personal communication 18 April ,
  • Haar , N. E. , Starr , J. and MacMillan , I. C. 1988 . Informal risk capital investors: investment patterns on the East Coast of the USA . Journal of Business Venturing , 3 : 11 – 29 .
  • Harrison , R. T. and Mason , C. M. 1996 . Developing the informal venture capital market: a review of DTI's Informal Investment Demonstration Projects . Regional Studies , 30 : 765 – 771 .
  • Harrison , R. T. and Mason , C. M. Backing the horse or the jockey? Agency costs, information and the evaluation of risk by informal venture capitalists . paper presented to the 22nd Babson College-Kauffman Foundation Entrepreneurship Research Conference . June 6–8 . University of Colorado at Boulder .
  • Harrison , R. T. , Dibben , M. R. and Mason , C. M. 1997 . The role of trust in the informal investor's investment decision . Entrepreneurship Theory and Practice , 21 ( 4 ) : 63 – 81 .
  • Inland Revenue . 2000 . The Enterprise Investment Scheme , London : Inland Revenue .
  • Kelly , P. and Hay , M. 1996 . Serial investors and early stage finance . Journal of Entrepreneurial and Small Business Finance , 5 : 159 – 174 .
  • Lange , J. , Leleux , B. and Surlemont , B. 2002 . “ Angel networks for the 21st century: best practices in Europe and the US ” . In The Growth of Venture Capital: A Cross-Cultural Comparison , Edited by: Cetindamar , D. Westport, CT : Quorum Press . in press
  • Mason , C. 2001 . Report on Business Angel Investment Activity, 1999/2000 , London : British Venture Capital Association .
  • Mason , C. and Rogers , A. 1997 . “ The business angel's investment decision: an exploratory analysis ” . In Entrepreneurship in the 1990s , Edited by: Deakins , D. , Jennings , P. and Mason , C. 29 – 46 . London : Paul Chapman .
  • Mason , C. M. and Harrison , R. T. 1993 . Strategies for expanding the informal venture capital market . International Small Business Journal , 11 ( 4 ) : 23 – 38 .
  • Mason , C. M. and Harrison , R. T. 1994 . “ The informal venture capital market in the UK ” . In Financing Small Firms , Edited by: Hughes , A. and Storey , D. J. 64 – 111 . London : Routledge .
  • Mason , C. M. and Harrison , R. T. 1996a . Why business angels say no: a case study of opportunities rejected by an informal investor syndicate . International Small Business Journal , 14 ( 2 ) : 35 – 51 .
  • Mason , C. M. and Harrison , R. T. 1996b . Informal venture capital: a study of the investment process, the post-investment experience and investment performance . Entrepreneurship & Regional Development , 8 : 105 – 125 .
  • Mason , C. M. and Harrison , R. T. 1997 . Business angels in the UK: a response to Stevenson and Coveney . International Small Business Journal , 15 ( 2 ) : 83 – 90 .
  • Mason , C. M. and Harrison , R. T. 1998 . “ Stimulating investments by business angels in technology-based ventures: the potential of an independent technology appraisal service ” . In New Technology-Based Firms in the 1990s , Edited by: Oakey , R. Volume 5 , 81 – 96 . London : Paul Chapman .
  • Mason , C. M. and Harrison , R. T. 1999 . “ Public policy and the development of the informal venture capital market: UK experience and lessons for Europe ” . In Industrial Policy in Europe , Edited by: Cowling , K. 199 – 223 . London : Routledge .
  • Mason , C. M. and Harrison , R. T. 2000a . The size of the informal venture capital market in the UK . Small Business Economics , 15 : 137 – 148 .
  • Mason , C. M. and Harrison , R. T. 2000b . Influences on the supply of informal venture capital in the UK: an exploratory study of investor attitudes . International Small Business Journal , 18 ( 4 ) : 11 – 28 .
  • Mason , C. M. and Harrison , R. T. Investing in technology ventures: what do business angels look for at the initial screening stage . to the 20th Babson-Kauffman Foundation Entrepreneurship Research Conference . Babson College .
  • Mason , C. M. and Harrison , R. T. 2001 . Investment readiness': a critique of Government proposals to increase the demand for venture capital . Regional Studies , 35 : 663 – 668 .
  • Nicholson , M. 2000 . Scotland survey: angels venture further afield . Financial Times , 6 September : 3
  • Reynolds , P. , Camp , S. M. , Bygrave , W. D. , Autio , E. and Hay , M. 2001 . Global Enterprise Monitor, 2001 Executive Report , Babson Park, MA : Babson College and London: London Business School .
  • Van Osnabrugge , M. and Robinson , R. 2000 . Angel Investing , San Francisco : Jossey Bass .
  • Wetzel , W. E. Jr. 1981 . “ Informal risk capital in New England ” . In Frontiers of Entrepreneurship Research 1981 , Edited by: Vesper , K. H. 217 – 245 . Wellesley, MA : Babson College .
  • Wetzel , W. E. Jr. 1983 . Angels and informal risk capital . Sloan Management Review , Summer : 23 – 34 .
  • Wetzel , W. E. Jr. 1986 . “ Entrepreneurs, angels and economic renaissance ” . In Entrepreneurship, Intrapreneurship and Venture Capital , Edited by: Hisrich , R. D. 119 – 139 . Lexington, MA : Lexington Books .
  • Wetzel , W. E. Jr. 1987 . The informal risk capital market: aspects of scale and efficiency . Journal of Business Venturing , 2 : 299 – 313 .

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.