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      Prometheus is published by Pluto Journals, an Open Access publisher. This means that everyone has free and unlimited access to the full-text of all articles from our international collection of social science journals. Furthermore Pluto Journals authors don’t pay article processing charges (APCs).

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      Prometheus

      Volume 19, Issue 1
       
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      Trends and Prospects in Venture and Angel Investments in New Media Companies

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      research-article
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      Publication date (Print):
      Journal: Prometheus
      Publisher: Pluto Journals
      Keywords: Venture Capital, Angel Capital, Internet Businesses
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            Abstract

            How do 'new media' or Internet-related companies raise external equity capital? In this paper, I analyze two markets that entrepreneurs of private Internet-related businesses use in the US to raise equity: the venture capital market and the market for 'angel' capital. Both markets appear to be important sources of capital for private Internet-related firms. In this paper, I try to shed some light on how these markets operate with respect to investments in Internet-related companies. In particular, using data from PricewaterhouseCoopers' MoneyTree Survey, I analyze trends in venture capital investments in Internet-related companies and make comparisons with venture investments in non-Internet-related firms. In addition, I use information and data on the angel market to investigate how important the market for angel capital is likely to be as a source of capital for Internet-related businesses. In doing so I draw on ongoing and new research by myself and others into the operation of these markets. Finally, I make some cautious predictions about how the future prospects for raising money from these two sources are likely to evolve for Internet-related firms.

            Content

            Author and article information

            Journal
            Journal ID (publisher-id): cpro20
            Journal ID (archive): CPRO
            Title: Prometheus
            Subtitle: Critical Studies in Innovation
            Publisher: Pluto Journals
            ISSN (Print): 0810-9028
            ISSN (Electronic): 1470-1030
            Publication date (Print): March 2001
            Volume: 19
            Issue: 1
            Pages: 11-16
            Article
            Publisher ID: 10032406 Coden ID: Prometheus, Vol. 19, No. 1, March 2001, pp. 11-16
            DOI: 10.1080/08109020110040851
            SO-VID: d08a18aa-8434-49eb-ba58-12354f6ea20a
            Copyright © Copyright Taylor & Francis Group, LLC
            License:

            All content is freely available without charge to users or their institutions. Users are allowed to read, download, copy, distribute, print, search, or link to the full texts of the articles in this journal without asking prior permission of the publisher or the author. Articles published in the journal are distributed under a http://creativecommons.org/licenses/by/4.0/.

            History
            Page count
            Figures: 0, Tables: 0, References: 6, Pages: 6
            Categories
            Subject: Original Articles

            ScienceOpen disciplines: Computer science,Arts,Social & Behavioral Sciences,Law,History,Economics
            Keywords: Venture Capital,Internet Businesses,Angel Capital

            References

            1. Fenn G., Liang N. and Prowse S.. 1997. . 'The private equity market: an overview'. . financial Markets, Institutions and Instruments . , Vol. 6((4)): 1––106. .

            2. Prowse S.. 1996. . 'Angel investors and the market for angel investments'. . Journal of Banking and Finance . , Vol. 22:: 785––92. .

            3. Prowse S.. 1998. . 'The private equity market: an overview'. . Federal Reserve Bank of Kansas City Economic Review, Third Quarter . , : 21––34. .

            4. Freear J., Sohl S. and Wetzel W.. 1996. . Creating Naw Capital Markets for Emerging Ventures . , Durham , NH : : University of New Hampshire. .

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