The Exit Phase of Individual Angels, Angel Syndicates and Corporate Angels

This paper discusses the exit phase of the individual angels, angel syndicates and corporate angels. The extant research recognises the heterogeneity of the business angel population, but has so far analyzed only the investment process or criteria (that includes exits) of the individual investors. The present work tries to fill this gap and examines only the exit phase of the angel syndicates and the corporate investors. The exit phase of the individual investors is re-examined in the light of their reported professionalism and evolution.