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Wealthy individual who invests more or less regularly in new, early- and late-stage ventures. They are knowledgeable about the technical and commercial opportunities and risks of the businesses in which they invest. They know the kind of information they want about their prospective investment, and they have the experience and ability to obtain and analyse the data.

Cover of Frederick, O'Connor, Kuratko (2019), Entrepreneurship Theory Process Practice (Melbourne: Cengage)Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)