Abstract

We compare men-led to women-led new ventures, using a “readiness for funding” framework and drawing from a proprietary database of 680 firms that over a four-year period-sought angel investment from the members of a prominent angel investment group located outside of Boston, MA. Our findings indicate women-led new ventures are equally likely to pass the administrative review stage of the angel investing process. This suggests that the when it comes to angel financing, the gender of the entrepreneur is not critical. Insights from interviews with entrepreneurs provide insights into the entrepreneurial financing decisions. Implications are discussed.

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