Human Resources, Investor Composition and Performance of Venture Funds: Focused on the Stakeholders of Venture Funds

Sang-Jun Shin and Keun-Tae Cho ()
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Sang-Jun Shin: Graduate School of Management of Technology, Sungkyunkwan University, Seoburo 2066, Suwon 16419, Republic of Korea
Keun-Tae Cho: Department of Systems Management Engineering, Graduate School of Management of Technology, Sungkyunkwan University, Seoburo 2066, Suwon 16419, Republic of Korea

Sustainability, 2022, vol. 14, issue 24, 1-21

Abstract: This study aims to understand the effect of the human resources and investor composition of venture funds on fund performances in Korea. It was conducted on 235 venture funds and revealed that the fund manager retention period, retention rate and investors’ number affected fund performance. Blind funds showed the same results with overall funds, whereas project funds, performance was affected only by the fund manager retention period. Funds operated by general partners, which manpower is not major shareholders, showed the same result as the overall ones. This study provides the basis for government planning venture policies and investors establishing funds’ evaluation criteria.

Keywords: venture fund; private equity fund; human resources; investor; fund type; governance structure (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2022
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