Kauffman Foundation: Angels perform on par with VCs
| November 12, 2007 |  View for printing |
Only 35% of angel-backed companies received follow-on financing from venture capital firms. And those that did raise venture funding were more likely to go on to either wild success or an ignoble end, according to a newly issued study on angel investment returns.
The report, published Monday by The Ewing Marion Kauffman Foundation, looked at the returns generated by angels investing as part of an organized group. The report concluded that angel investment can generate returns that are on par with those of early-stage venture firms. According to the findings, angel groups see investment returns of 2.6 times the amount of money invested in 3.5 years, an internal rate of return of about 27%.
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