Igor needed financing for his budding business but was rejected by many financing companies. Finally, one of his uncle's friends, a wealthy man, got interested in the business and gave Igor a substantial amount for a share in the venture. Which of the following best represents Igor's source of finance?

Question

Quizplus · Accepted Answer

An angel investor is typically someone who has personal funds to invest in a business venture, often in exchange for ownership equity or convertible debt. In this case, Igor's uncle's friend invested a substantial amount in exchange for a share in the business, making him an angel investor.

Igor Needed Financing for His Budding Business but Was Rejected