A Conceptualized Investment Model of Crowdfunding

A. Tomczak, Alexander Brem

Research output: Contribution to journalJournal articleResearchpeer-review

Abstract

Crowdfunding is growing in popularity as a new form of both investment opportunity and source of venture capital. This article takes a view on whether crowdfunding is a replacement or an addition to traditional seed capital sources in the early stages of a new venture. With access to angel investment decreasing since the financial crisis of 2008, crowdfunding is of great importance to start-ups seeking starting capital. However, little effort has been made to define the investment model of crowdfunding with both crowdfunder and crowdfundee in mind. Drawing on an in-depth review of current literature on crowdfunding, this article creates an investment model of crowdfunding with various reward models available to investor and investee in mind. This article provides an extensive survey of the environment of crowdfunding based on current literature. It offers a jumping off point and a thorough literature review for researchers of crowdfunding, providing a detailed examination of the current landscape of crowdfunding based on available literary sources.
Original languageEnglish
JournalVenture Capital : an International Journal of Entrepreneurial Finance
Volume15
Issue number4
Pages (from-to)335-359
ISSN1369-1066
DOIs
Publication statusPublished - 2013

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Investment opportunities
Start-ups
Literature review
Replacement
New ventures
Reward
Venture capital
Financial crisis
Investors

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A Conceptualized Investment Model of Crowdfunding. / Tomczak, A.; Brem, Alexander.

In: Venture Capital : an International Journal of Entrepreneurial Finance, Vol. 15, No. 4, 2013, p. 335-359.

Research output: Contribution to journalJournal articleResearchpeer-review

TY - JOUR

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AU - Brem, Alexander

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AB - Crowdfunding is growing in popularity as a new form of both investment opportunity and source of venture capital. This article takes a view on whether crowdfunding is a replacement or an addition to traditional seed capital sources in the early stages of a new venture. With access to angel investment decreasing since the financial crisis of 2008, crowdfunding is of great importance to start-ups seeking starting capital. However, little effort has been made to define the investment model of crowdfunding with both crowdfunder and crowdfundee in mind. Drawing on an in-depth review of current literature on crowdfunding, this article creates an investment model of crowdfunding with various reward models available to investor and investee in mind. This article provides an extensive survey of the environment of crowdfunding based on current literature. It offers a jumping off point and a thorough literature review for researchers of crowdfunding, providing a detailed examination of the current landscape of crowdfunding based on available literary sources.

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