Purpose: The purpose of the paper is to analyze the development of business angel networks (BANs) in emerging countries such as Chile and Colombia to understand how institutions affect their development. Design/methodology/approach: This is a qualitative, exploratory, and descriptive study...

Funding is critical during new firms' creation and the most sources of funding in the early stages of entrepreneurial ventures are informal investors (Family, Friends, the Founding entrepreneurs themselves, and the foolhardy strangers, also known as business angels). Entrepreneurs in the initial...