The good folks over at Øresund Startups found an interesting Masters' thesis that looked at startup investments in Skåne, the Southernmost part of Sweden that includes Malmö, Helsingborg, and Lund. There are a few takeaways that I found interesting, which we'll summarize, but the entire thesis can be found online. The study, Equity financing of early stage growth firms in Skåne was authored by Karl Fogelström and Christoffer Nilsson, and was done in cooperation with Teknopol.
There are some results that entrepreneurs might find practical. It's somewhat obvious, but, making personal connections with angels, or friends of angels is important. According to the questionnaire, 46% of the time angels find the companies they invest in through personal contacts, 22% go through formal networks, and the remaining 36% find companies through both paths.
Additionally, the most common reason why angels did not invest, was because they found the valuation of the company to be too high, which may be something to consider during negotiations.