Returns to Angel Investors in Groups

Wiltbank, Robert; Boeker, Warren

doi:10.2139/ssrn.1028592

Download This Paper

Open PDF in Browser

Add Paper to My Library

Returns to Angel Investors in Groups

16 Pages Posted: 14 Nov 2007 Last revised: 3 Mar 2009

See all articles by Robert Wiltbank

Robert Wiltbank

Willamette University - Atkinson Graduate School of Management

Warren Boeker

University of Washington - Center for Innovation and Entrepreneurship

Date Written: November 1, 2007

Abstract

This study is based on the largest data set of accredited angel investors collected to date, with information on exits from 539 angels. These investors have experienced 1,137 "exits" (acquisitions or Initial Public Offerings that provided positive returns or firm closures that led to negative returns) from their venture investments during the last two decades, with most exits occurring since 2004. Analysis of the data revealed important details of the investment outcomes for angel investors connected to angel organizations.

Keywords: angel investor, returns, angel groups, exits

Suggested Citation: Suggested Citation

Wiltbank, Robert and Boeker, Warren, Returns to Angel Investors in Groups (November 1, 2007). Available at SSRN: https://ssrn.com/abstract=1028592 or http://dx.doi.org/10.2139/ssrn.1028592