Linking Prefunding Venture Structure and Venture Capital Exit Performance
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In: International Journal of Entrepreneurial Venturing, Vol. 5, No. 4, 09.12.2013, p. 345-368.
Research output: Journal contributions › Journal articles › Research › peer-review
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TY - JOUR
T1 - Linking Prefunding Venture Structure and Venture Capital Exit Performance
AU - Streletzki, Jan-Georg
PY - 2013/12/9
Y1 - 2013/12/9
N2 - 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.
AB - 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.
KW - Entrepreneurship
KW - Assets
KW - Exit Performance
KW - Industry
KW - Location
KW - Prefunding
KW - Success factors
KW - Success predictors
KW - Team
KW - Time
KW - VC
KW - Venture capital
KW - Management studies
KW - Entrepreneurship
UR - http://www.scopus.com/inward/record.url?scp=84890519887&partnerID=8YFLogxK
U2 - 10.1504/IJEV.2013.058166
DO - 10.1504/IJEV.2013.058166
M3 - Journal articles
VL - 5
SP - 345
EP - 368
JO - International Journal of Entrepreneurial Venturing
JF - International Journal of Entrepreneurial Venturing
SN - 1742-5360
IS - 4
ER -