Angel investors are being increasingly recognised as an important source of equity capital for financing high growth firms according to the OECD. Their report reviews developments around the world and identifies some of the key success factors, challenges and recent trends based on interviews from over 100 people, from 32 countries including Australia. The angel investment market is much larger than most people realise, as angel investors are often not visible, and consistently larger than seed and early stage venture capital investment.

However, women are under represented as both investors and recipients of capital. A growing body or research demonstrates the critical role that social networks play in the funding and success of high growth ventures. Traditionally female entrepreneurs have had less access to equity, angel and venture capital networks. Women tend to seek capital from other women. Only a fifth of investors in early stage business are women. As a result, women owned firms receive less than 10% of capital even though they launch nearly half of new businesses.”