Abstract

Business angels became an important financing source for the enterprises in the early stage of development in the world as of 1960s. However angel investing belatedly emerged in Turkey during the late 2000s. This study examines the angel investing process in Turkey from the perspective of entrepreneurs who benefited from the business angels by making in-depth interviews with 12 entrepreneurs. We found that the business angels are nearly the only financing source for unfinished product and business model and the experiences and networking of the business angels were important as well as their financing support.

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