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The impact of financial capital, human capital and social capital on the evolution of Business Angel Networks
Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Business Administration.
2013 (English)In: International Journal of Corporate Governance, ISSN 1754-3037, E-ISSN 1754-3045, Vol. 4, no 3, 209-228 p.Article in journal (Refereed) Published
Abstract [en]

Business angels are very important for the growth and development of start-ups as they contribute much needed capital and competence to these firms. During the past decades the formation and growth of Business Angel Networks (BANs) has become an increasingly common phenomenon and an important issue for policy-makers in most Western economies. In this paper, we follow the inception and development of three local BANs. The data in this paper come from in-depth interviews with the founders of the networks as well as bankers, civil servants, entrepreneurs and local politicians. The results indicate that capital alone will not guarantee success in a BAN rather it is a combination of the financial capital, human capital and social capital among the founding partners of the network.

Place, publisher, year, edition, pages
2013. Vol. 4, no 3, 209-228 p.
Keyword [en]
business angels, financial capital, human capital, social capital, business angel networks, investment, financing, entrepreneurship, Sweden, start-ups
National Category
Business Administration
Research subject
Business Studies
URN: urn:nbn:se:umu:diva-86956DOI: 10.1504/IJCG.2013.056259OAI: diva2:705117
Available from: 2014-03-14 Created: 2014-03-14 Last updated: 2015-11-13Bibliographically approved

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