Returns to Angel Investors in Groups

16 Pages Posted: 14 Nov 2007 Last revised: 23 Feb 2014

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

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

Robert Wiltbank (Contact Author)

Willamette University - Atkinson Graduate School of Management ( email )

900 State Street
Salem, OR 97301
United States
503 370 6955 (Phone)
503 370 3011 (Fax)

Warren Boeker

University of Washington - Center for Innovation and Entrepreneurship ( email )

Seattle, WA
United States

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