Typically, Business Angels take minority stakes; according to the study, only 5% of the BA financed companies have majority participations of Business Angels. Slightly more than 50% received financing at or before creation. Almost one third received support 3 years after creation - this means that Business Angels do not only finance companies in the seed and start-up, but also in the expansion phase. Table 2 below shows the attributes of companies with Business Angel or/and VC support. The authors surveyed 3,000 companies of the formation cohort 2001-2005 in the fields of high- tech/high-quality tech and tech-oriented services. The comparison between.
