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Born Global Firms and Informal Investors: Examining Investor Characteristics

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  • Øystein Moen
  • Roger Sørheim
  • Truls Erikson

Abstract

A “Born Global” is a new venture with a global niche market focus from day one. Many of these firms experience high growth rates, but also, a considerable need for funding. This study contrasts informal investors involved in born global firms (“Born Global Investors”) with other informal investors. The underlying thesis is that the behavior of these investors reflects their investment philosophy, at least on a differential basis. The results suggest that born global investors differ from other informal investors in terms of deal origin, investment size, and exit preferences. Their experience as managers of large firms seems to be a particularly important factor, increasing investment capacity (income and fortune), while personal and professional networks influence the access to information about investment opportunities. The importance of these results for the development of born global firms is discussed.

Suggested Citation

  • Øystein Moen & Roger Sørheim & Truls Erikson, 2008. "Born Global Firms and Informal Investors: Examining Investor Characteristics," Journal of Small Business Management, Taylor & Francis Journals, vol. 46(4), pages 536-549, October.
    • Handle: RePEc:taf:ujbmxx:v:46:y:2008:i:4:p:536-549
    DOI: 10.1111/j.1540-627X.2008.00255.x
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    Cited by:

    1. Ochieng, Irene Achieng & Thornton, Heidi Coral & Owusu, Richard Afriyie, 2024. "Internationalisation patterns of African sharing economy companies: The role of gateway markets," Journal of Business Research, Elsevier, vol. 170(C).
    2. Figueiredo, Marco & Ferreira, João J. & Vrontis, Demetris, 2024. "Perspectives on dynamic capabilities and ambidexterity in born-global companies: Theoretical framing, review and research agenda," Journal of International Management, Elsevier, vol. 30(1).

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