摘要：The signifi cant expansion of business formation is playing a key role in the transformation of transitional economies. As a result of this and, the development of more entrepreneurial business culture, the role of endogenous venture capital, equity market provision, and the potential for business angels involvement is also growing. Despite these entrepreneurially driven developments, and the encouragement of individuals to establish new businesses, start-up companies in Croatia and Slovenia, they are facing the immediate issue of raising capital. Th is paper undertakes a comparative analysis of business angels in Croatia and Slovenia as part of they represent a key part of the response and solution to this problem. Their primary motivation is capital growth, and they seek to fi ll an equity gap and compensate for failures in the venture capital market wherever they appear. Th e study documents the current state of business angel activity and networking within the private equity market in Croatia and Slovenia, based on interviews and case studies. Th erefore, it informs the analysis of key functions that business angels can play in addressing problems faced by new small businesses in an emergent economic and investment environment.
关键词：formal and informal venture capital; business angels; Croatia; Slovenia; banking crisis
