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  • Yayın
    Venture capital and business angels: Turkish case
    (Elsevier Science BV, 2016) Teker, Suat; Teker, Dilek
    Venture capital (VC) may be defined as a support to entrepreneurial talents and appetite by turning ideas and basic science into products and services which are expected to envy the world. Although venture capitalists and business angels supply external funding for risky investments, the aspects of venture capitalists and business angels are different approaching the investment candidates. Business angels in the last decade have become undispansible players providing external capital for risky start-ups and contributing technological advancements and economic growth. Business angels could be either private wealth individuals or institutional venture capitalists. Private angels invest their own money that's why their invested capacity are limited while venture capitalists invest others'money with an extensive source. This research examines the the way of doing business for venture capitalists and business angels. Furthermore, venture capital market and business angels are reviewed for the Turkish case.
  • Yayın
    Venture capital markets: A cross country analysis
    (Elsevier Science BV, 2016) Teker, Dilek; Teker, Suat; Teraman, Özgür
    Venture capital (VC) may be defined as a support to entrepreneurial talents and appetite by turning ideas and basic science into products and services which are expected to envy the world. Venture capital funds are able to build companies from the simplest form to mature organizations. Venture capital investors generally actively engage with management of the company by typically taking place on the board. Through the due diligence process the venture capital firms concentrate on the founders, the management team, the concept, the marketplace, the revenue model, the value-added potential of the firm, the amount of capital needed to heal the business and whether all these fit to the fund's objectives. Over the next three to eight years, the venture firm works with the founding entrepreneur/s to grow the company. Once a company funded by venture capital matures and becomes successful, venture funds generally exit by taking it public through an initial public offering (IPO) or by selling it to big companies. This allows the venture funds to be free from the previous investment and invest in the next generation of companies. United States, Europe, Israel, Canada, China and India have the most developed markets for venture capital environment. The size of the venture capital market is nowadays about $50 billion and the United States has the most funds for venture capital of $33.1 billion in 2013. Venture capital firms may invest in promising firms in stages of seed, first round, second round or later. The median investment amounts in the United States in 2013 are $0.5 million for seed, $2.5 million for first round, $5.7 million for second round and $10 for later stage. The most attractive sector for venture capital is information technology for the United States, Israel and Canada, invested over $10 billion in 2013, while the most attractive sector is consumer products for Europe, China and India, invested over $4.8 billion in 2013.
  • Yayın
    An overview of angel investor ecosystem
    (PressAcademia, 2021-12-31) Teker, Dilek; Teker, Suat; Örendil, Emre
    Purpose - The dynamics of the startup ecosystem exhibit variety from a country to another. A similar alteration applies for the characteristics of angel investors as they are an integral part of the startup ecosystem. Thus, it is required to have a closer look to the most recent local statistics to understand how the trends are swiftly changing in Turkey. This study distinguishes itself from the majority of the literature that it comes with suggestions for improving particularly the Turkish angel investor ecosystem. Methodology - In the study, a comprehensive literature review is conducted to learn about the current circumstances of the European angel investor ecosystem and have a deep understanding about the Turkish angel investor ecosystem so that further improvements could be developed. Findings - At the end of the literature review, seven major points open for the improvement of Turkish angel investor ecosystem are spotted. The issues present in the ecosystem such as the absence of strong connection among angel investors, the shortfall of angel investors’ skills in certain fields, the insufficient technical knowledge of some entrepreneurs, the reservations caused by geographical remoteness, the underrepresentation of female angel investor, the lack of knowledge about the benefits of angel investing to both parties, the hardships in reaching out to early adopters are of utmost importance to be addressed. Conclusion - In angel investing context, Turkey has a significant potential to be uncovered but needs to resolve the mentioned issues. It requires notable attention both from public and private sectors. This aim could be achieved through facilitating the networking practices among angel investors, nourishing the soft skills of angel investors, encouraging knowledge sharing, benefiting technological advancements to eliminate the problems caused by geographical remoteness, incentivizing participation of more female angel investors, raising awareness about the possible benefits of angel investment to both sides, and easing the access to early adopters.