Linking Prefunding Venture Structure and Venture Capital Exit Performance

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This study investigates the state of the art on venture capital (VC) success prediction and compares it to the findings on general start up performance, and new technology-based venture (NTBV) performance in particular. It is still generally believed that the factors responsible for general venture performance also drive VC performance. This study argues that there is a need for differentiation: VCs and founders pursue different goals, and VC funded ventures grow under different conditions than their non-funded counterparts. Results of a structured literature review show, while team-related predictors have a comparatively lower impact, market related predictors have a higher impact on exit performance than on NTBV performance. Also, VC-specific predictors like timing and distance are shown to have an influence on exit performance.
Original languageEnglish
JournalInternational Journal of Entrepreneurial Venturing
Volume5
Issue number4
Pages (from-to)345-368
Number of pages24
ISSN1742-5360
DOIs
Publication statusPublished - 09.12.2013

    Research areas

  • Entrepreneurship - Assets, Exit Performance, Industry, Location, Prefunding, Success factors, Success predictors, Team, Time, VC, Venture capital
  • Management studies

DOI

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