COVID-19 and the global venture capital landscape

Cristiano Bellavitis (), Christian Fisch and Rod B. McNaughton
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Cristiano Bellavitis: Syracuse University
Christian Fisch: Trier University
Rod B. McNaughton: The University of Auckland

Small Business Economics, 2022, vol. 59, issue 3, No 2, 805 pages

Abstract: Abstract We assess the effect of the COVID-19 pandemic on venture capital (VC) investments, documenting a significant decline in investments using a dataset of 39,527 funding rounds occurring before and during the pandemic in 130 countries. In line with our theoretical considerations, we show that this decline is more pronounced for investments characterized by higher uncertainty, namely investments in seed-stage ventures, industries affected more heavily by the COVID-19 crisis, international investments, and non-syndicated investments. Investor prominence partially moderates these effects.

Keywords: COVID-19; Pandemic; Crisis; Venture capital; Uncertainty; F21; G24; G41; L26; M13 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (7)

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DOI: 10.1007/s11187-021-00547-9

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