Fool's Gold?: The Truth Behind Angel Investing in America - Couverture rigide

Shane, Scott

Couverture rigide

ISBN 10 : 0195331087 ISBN 13 : 9780195331080

Editeur : Oxford University Press Inc, 2009

Synopsis

The stereotype of the "angel investor" is a retired wealthy entrepreneur who sees potential, asks tough questions, takes a large stake, and in a few years makes a massive return in an IPO. This outsider fills the gap between the venture capitalist and the professional investor, swooping in with cash and expertise to bring dreams to fruition.

Unfortunately, Shane observes, this figure bears no relationship to reality. In Fool's Gold, he draws on hard data from the Federal Reserve and other sources to paint the first reliable group portrait of the lionized angel investors. Surprisingly, he finds that they are fewer, contribute less, and involve themselves in fewer start-ups than the conventional wisdom suggests. Most angels typically still have their day jobs, make investments of $10,000 or less, and take little or no role in assisting entrepreneurs build their companies. Few of the companies they put money into arrive at IPOs, let alone massive returns. But angels can play a critical role, he writes, if the fantasy is abandoned by all concerned. Drawing on his rich store of data, Shane offers recommendations to entrepreneurs and angels alike for the most productive use of angel investing, and suggests how policymakers can encourage it. Particularly promising are angel groups, which pool knowledge and money for wiser and more productive investments. In groups, angels can rely on each other's expertise, share the labor of performing due diligence, and generally insure that their money is being placed--and used--wisely. Fostering the formation of such groups may be the single most important thing that government can do to boost angel investing.

Massively researched and briskly written, Fools' Gold offers the first real resource on this misunderstood aspect of our entrepreneurial system.

A propos du livre

À propos de l'auteur

An angel investor with the North Coast Angel Fund, and a professor of entrepreneurship at Case Western Reserve University, Scott A. Shane is the author of Illusions of Entrepreneurship, among many other books and articles.

Détails de l'édition

• Éditeur: Oxford University Press Inc
• Date d'édition: 2009
• Langue: anglais
• ISBN 10: 0195331087
• ISBN 13: 9780195331080
• Reliure: Relié
• Nombre de pages: 288
• Coordonnées du fabricant: non disponible
• Personne responsable: Ufficio Anagrafiche Messaggerie; ufficio.anagrafiche@meli.it; ; Via Verdi, 8; Assago Milano; 20090; Italie