個案資料

Financing New Ventures: An Entrepreneur's Guide to Business Angel Investment is a seven chapter book published in 2014 by the Business Expert Press and written by Geoffrey Gregson, Director of the Centre for Entrepreneurship Research at the University of Edinburgh Business School. In this book, the author provides practical guidance for growth-oriented business ventures looking to secure funding from external sources. He reviews the features of an investable business opportunity and advises the entrepreneur on how to present the opportunity to potential funders, as well as sharing insight into the investor's decision-making process. In addition to his focus on business angels (BA), Gregson offers insights into the work of venture capitalists (VC) to provide a comprehensive view of financing new ventures. The author includes definitions of key terms, real world examples, notes on current research, and commentary from practitioners. Chapter 4, Understanding the Business Angel Investment Process (36 pages), outlines five stages of financing a business opportunity: origination, screening, evaluation, structure, and agreement. The author describes the process and presents real world insight into each stage. He offers practical advice for how an entrepreneur should approach potential investors and reviews nine organizational themes for presenting the business case. He examines common considerations for investor decision-making at different stages of a deal and for different kinds of investors. He outlines the elements of a deal structure and gives guidance on creating a term sheet as well as insight into due diligence and valuation methods, such as: discounted cash flow; the comparables method; the VC method; the asset-based method; and, rule of thumb.

• Business plans
• Going public
• Start-ups
• Financing
• Angel financing