<title/> This paper reviews 20 years of research on the angel segment of the venture capital market. A lot has been learnt from one-shot studies of the attitudes, behaviour and characteristics of business angels. Taxonomies have been developed. However, we now need systematic insights into the dynamics...

<title/> Since the nadir of the early 1990s, the angel and venture capital markets began a rapid recovery followed by a marked decline. These recent market gyrations offer insights into the private equity industry. During the rise, angel and venture capital investments soared, accompanied by rising deal...

In this article, we examine angel investors and venture capital investors to determine how they interact in the market for small firm equity investment. We first generate a novel dataset of firms going through their initial public offerings and using the disclosures required by the Securities...