Angel Investor (Ro.: Investitor privat, Gr.: επιχειρηματικοί άγγελοι, Cz.: andělský investor(See also: business angel, business law, investment, Due Diligence, risk, entrepreneurship, equity) = An individual (or a group) who provide financing capital for new (start-ups) or emerging businesses, in order to multiply his/her investment in a predefined amount of time (usually up to 5 years), often accompanied by advisement of that company. 

When making an investment, angel investors take into consideration criteria such as the size of the deal, the stage of the company, the potential of the market and the industry in which that particular business operates and the magnitude of the risks and returns. 

~ investment returns (Ro.: rezultatul investiției, Gr.: απόδοση επενδύσεων) = the results of angel investor’s investments at exit, which can be materialised in capital gain, assets, shares, bonds or equity.

~ investing group (Ro.: grup de investiții, Gr.: όμιλος επενδυτών) = two or more angel investors who decide to make investments together and share the returns, according to a commonly agreed strategy.



Useful links


Benjamin, G. A., Margulis, J. B., 2001, The Angel Investor's Handbook: How to Profit from Early-Stage Investing, Wiley

Peters, B., 2009, Early exits: Exit strategies for Entrepreneurs and Angel Investors, MeteorBytes Data Management Corp, Canada

Robinson, R. J., Van Osnabrugge, M., 2000, Angel Investing: Matching Startup Funds with Startup Companies - The Guide for Entrepreneurs and Individual Investors, John Wiley & Sons

Shane, S., 2008, Fool's Gold? The Truth Behind Angel Investing in America, Oxford University Press

iMinds, 2009, Angel Investors: Politics, Law and Business, iMinds Pty Limited

Online publications - OECD, 2011, Financing High-Growth Firms: The role of Angel Investors, OECD Publishing - Prive, T., 2013, Angel Investors: How the rich invest, Forbes Magazine - Kerr, W. R., Lerner, J., Schoar, A., 2010, The Consequences of Entrepreneurial Finance: A Regression Discontinuity Analysis, Harvard Business School – Peavler, R., What are Angel Investors? Can Angel Investors Help Your Small Business? – Berry, T., 2011, Getting Financing for Your Startup: Types of Investors, Palo Alto Software – 2012, Business Angel Investing - A Guide to the Legal, Tax & Regulatory Issues – Cauea, C., 2013, Interviu: Peter Barta explică ce înseamnă o finanțare “business angel” pas cu pas, Business24 – Angel Investors

Practical use - List of Angel Investors and related articles – Tips for Angel Investors – Tips for Angel Investors


By Ioana Stupariu