Start-up Teams and Venture Capital Exit Performance in Germany: venture capital firms are not selecting on the right criteria
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Start-up Teams and Venture Capital Exit Performance in Germany : venture capital firms are not selecting on the right criteria. / Streletzki, Jan-Georg; Schulte, Reinhard.
In: Journal of Small Business and Entrepreneurship, Vol. 26, No. 6, 01.11.2013, p. 601-622.Research output: Journal contributions › Journal articles › Research › peer-review
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TY - JOUR
T1 - Start-up Teams and Venture Capital Exit Performance in Germany
T2 - venture capital firms are not selecting on the right criteria
AU - Streletzki, Jan-Georg
AU - Schulte, Reinhard
N1 - published online 4/2014
PY - 2013/11/1
Y1 - 2013/11/1
N2 - This paper identifies predictors of venture capital exit performance that are related to the founding teams of young ventures. As portfolio companies of venture capital firms are a very unique subgroup of young ventures, and as exit performance is a success variable that is only rarely examined, this study provides new insights from an investor's point of view. Based on data from 64 non-disclosed business plans of portfolio companies from German venture capital firms, we prove known team-related success factors for their potential to drive exit returns. We find that venture capital firms are not selecting on the right criteria.
AB - This paper identifies predictors of venture capital exit performance that are related to the founding teams of young ventures. As portfolio companies of venture capital firms are a very unique subgroup of young ventures, and as exit performance is a success variable that is only rarely examined, this study provides new insights from an investor's point of view. Based on data from 64 non-disclosed business plans of portfolio companies from German venture capital firms, we prove known team-related success factors for their potential to drive exit returns. We find that venture capital firms are not selecting on the right criteria.
KW - Management studies
KW - human capital
KW - venture capital
KW - venture capital returns
KW - exit performance
KW - success predictors
KW - success factors
KW - team
KW - education
KW - experience
KW - german market
KW - Entrepreneurship
UR - http://www.scopus.com/inward/record.url?scp=85003727962&partnerID=8YFLogxK
U2 - 10.1080/08276331.2014.892310
DO - 10.1080/08276331.2014.892310
M3 - Journal articles
VL - 26
SP - 601
EP - 622
JO - Journal of Small Business and Entrepreneurship
JF - Journal of Small Business and Entrepreneurship
SN - 0827-6331
IS - 6
ER -