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Author: Cristiano Bellavitis
Publisher: Business Expert Press
ISBN: 1631579851
Category : Business & Economics
Languages : en
Pages : 160
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Book Description
In the venture capital (VC) industry, firms often co-invest with other peers in syndicated deals. The process of syndication is a form of investment alliance that generates networks of VC firms and start-up companies. Despite the prominent role played by syndicates, extant entrepreneurship literature found contradicting evidence on the relationship between the practice of syndication and the performance of both the start-up and the investors. In fact, our understanding of the circumstances under which syndicates have the potential to boost performance, rather than hamper them, is still limited. This book intends to fill this gap and explore the performance dynamics surrounding networks in the venture capital industry. The text also provides introductory knowledge to those interested in network studies and methods.
Author: Cristiano Bellavitis
Publisher: Business Expert Press
ISBN: 1631579851
Category : Business & Economics
Languages : en
Pages : 160
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Book Description
In the venture capital (VC) industry, firms often co-invest with other peers in syndicated deals. The process of syndication is a form of investment alliance that generates networks of VC firms and start-up companies. Despite the prominent role played by syndicates, extant entrepreneurship literature found contradicting evidence on the relationship between the practice of syndication and the performance of both the start-up and the investors. In fact, our understanding of the circumstances under which syndicates have the potential to boost performance, rather than hamper them, is still limited. This book intends to fill this gap and explore the performance dynamics surrounding networks in the venture capital industry. The text also provides introductory knowledge to those interested in network studies and methods.
Author: Yael V. Hochberg
Publisher:
ISBN:
Category :
Languages : en
Pages : 55
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Book Description
Many financial markets are characterized by strong relationships and networks, rather than arm s-length, spot-market transactions. We examine the performance consequences of this organizational choice in the context of relationships established when VCs syndicate portfolio company investments, using a comprehensive sample of U.S. based VCs over the period 1980 to 2003. VC funds whose parent firms enjoy more influential network positions have significantly better performance, as measured by the proportion of portfolio company investments that are successfully exited through an initial public offering or a sale to another company. Similarly, the portfolio companies of better networked VC firms are significantly more likely to survive to subsequent rounds of financing and to eventual exit. The magnitude of these effects is economically large, and is robust to a wide range of specifications. Our models suggest that the benefits of being associated with a well-connected VC are more pronounced in later funding rounds. Once we control for network effects in our models of fund and portfolio company performance, the importance of how much investment experience a VC has is reduced, and in some specifications, eliminated.
Author: Alexander Ljungqvist
Publisher:
ISBN:
Category :
Languages : en
Pages : 56
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Book Description
Many financial markets are characterized by strong relationships and networks, rather than arm's-length, spot-market transactions. We examine the performance consequences of this organizational choice in the context of relationships established when VCs syndicate portfolio company investments. VC firms that enjoy more influential network positions have significantly better fund performance, as measured by the proportion of investments that are successfully exited through an IPO or sale to another company. Similarly, the portfolio companies of better-networked VC firms are significantly more likely to survive to subsequent financing and to eventual exit. Finally, we provide initial evidence on the evolution of VC networks.
Author: United States. Department of Commerce
Publisher:
ISBN:
Category : New business enterprises
Languages : en
Pages : 24
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Book Description
Author: Natdanai Aleenajitpong
Publisher:
ISBN:
Category :
Languages : en
Pages : 7
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Book Description
Venture capital firms (VC ...
Author: Phillip Ryan
Publisher: The Rosen Publishing Group, Inc
ISBN: 1448867959
Category : Juvenile Nonfiction
Languages : en
Pages : 82
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Book Description
Explanations to the inner workings of one of the least understood, but arguably most important, areas of business finance is offered to readers in this engaging volume: venture capital. Venture capitalists provide necessary investment to seed (or startup) companies, but the startup is only the beginning, there is much more to be explored. These savvy investors help guide young entrepreneurs, who likely have little experience, to turn their businesses into the Googles, Facebooks, and Groupons of the world. This book explains the often-complex methods venture capitalists use to value companies and to get the most return on their investments, or ROI. This book is a must-have for any reader interested in the business world.
Author: Natdanai Aleenajitpong
Publisher:
ISBN:
Category :
Languages : en
Pages : 3
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Book Description
Venture capital firms (VC) have encountered with uncertainty and risk of asymmetric information due to an investment in early-to-growth stage and technology-based start-ups. Venture capital syndication network helps reduce a broad gap of information asymmetry and agency problem in a venture capital investment. Although agency and asymmetric information theory help motivate the formation of networks in emerging venture capital markets, Institutional theory is more suitable in explaining this situation, as the practice of venture capital appears to be influenced from institutional changes. As network connections are found to be the success factor for venture capitalists under a lack of fully developed institutional environment in emerging market. Venture capital industry in Southeast Asia is nascent yet in demanding and fast growing. Southeast Asia (SEA) is one of the most significant and dynamic propellers of the world economy. To clarify the role of networks and institutions on VC-backed firms in SEA VC market, we then investigate the relationship between networks and institutions and their impact on portfolio company's performance. Our study will initiate an empirical evidence by quantifying VC networks and institutions among SEA countries and implementing time-series panel regressions through the performance of VC-backed companies.
Author: Tom Nicholas
Publisher: Harvard University Press
ISBN: 0674988000
Category : Business & Economics
Languages : en
Pages : 401
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Book Description
From nineteenth-century whaling to a multitude of firms pursuing entrepreneurial finance today, venture finance reflects a deep-seated tradition in the deployment of risk capital in the United States. Tom Nicholas’s history of the venture capital industry offers a roller coaster ride through America’s ongoing pursuit of financial gain.
Author: Sadamori Koujaku
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: WetFeet.com (Firm)
Publisher: WETFEET, INC.
ISBN: 1582077916
Category : Business & Economics
Languages : en
Pages : 94
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Book Description
