Do you believe in angels?

AngelList is an innovative platform that successfully matches investors and early stage ventures since 2010. Particularly, until 2013, AngelList has managed to raise more than $200M for startups. Hence, the understanding of how investors under great product and demand uncertainty make their decision process is of value. Our research focus on angel investors due to the fact that are more important for young ventures, as apart from their own money they also provide their know how, contacts and serve as mentors to the founders of the enterprise. The aim of this study is to investigate how angel investors on AngelList prioritize their investment criteria. The method is quantitative, using online self-completion questionnaires. The finding of this study show that trustworthiness of the entrepreneur, enthusiasm of the entrepreneur, quality of the management team and growth potential of the market are the angel’s top criteria.