Investigating the role of informal investors and investor communication in entrepreneurship-through-acquisition: A study in the context of de novo entrepreneurship

Pöschl, A., & Mai, I. M. Q. (2026)

Entrepreneurship Research Journal, 16(2), 431-473

25 search fund entrepreneurs in 15 countries and 12 investors. Informal investors provide "testimonial legitimacy" that substitutes for institutional validation; positions the search fund as "a person-centric empirical category within the broader private equity landscape".

Sourcedoi:10.1515/erj-2024-04620 citations (OpenAlex)

Full citation

Pöschl, A., & Mai, I. M. Q. (2026). Investigating the role of informal investors and investor communication in entrepreneurship-through-acquisition: A study in the context of de novo entrepreneurship. Entrepreneurship Research Journal, 16(2), 431-473.

https://doi.org/10.1515/erj-2024-0462

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