在美国,过渡的资金通常来自于非正式的天使投资者,
typically entrepreneurs who have made a decent bit of money from their own start-ups andwant to invest some in projects they like.
特别是由新成立的公司发家且希望投资一些中意项目的企业家。
But outside America s technology hubs, such people are rare.
但是在美国科技中心之外,这样的人少之又少。
However, start-ups of that size are often making their first baby steps into the market andneed publicity.
然而,这样规模的新成立的公司通常会迈着婴儿步进入市场并需要广告宣传。
Aggregate Media Funds, a Swedish firm started in 2002,
2002年成立的瑞典媒体公司媒体公基金集合了15家瑞典媒体提供的广告版面,
pools excess advertising space provided by 15 Swedish media companies that areshareholders in the fund,
并且以交换股权的形式给予新成立的公司。
and gives it to start-ups in return for an equity stake.
这15家媒体都是该基金的股东。
If the firms do well, they buy back the equity in cash, which goes to the shareholders, with acut for the fund.
如果公司运作良好,他们就会用现金买回股权给予股东,并给基金一份利润。
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