Women Business Angels: Insights about their Investment Decisions and Evaluation of Female Entrepreneurs

Abstract: Women have become a major and rising financial force and their presence in the angel sector is growing. However, little research has been done on the status of women as angel investors. This master thesis aims to give insights into the influencing factors in the investment decision of female business angels and their perception of female entrepreneurs. A qualitative study was conducted with nine women angel investors that followed a semi-structured interview. The findings show that female business angels are influenced by their investment motivation, the deal sources and their personal investment criteria. In addition, the study gives first indication of how female business angels perceive female entrepreneurs and comes to the conclusion that women show weaknesses in presenting themselves and their businesses. The study proposes future research in the field of women angel investing and practical implications.