Linking prefunding venture structure and venture capital exit performance

Jan-Georg Streletzki

International Journal of Entrepreneurial Venturing, 2013, vol. 5, issue 4, 345-368

Abstract: 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.

Keywords: venture capital; exit performance; success predictors; success factors; prefunding; team; assets; industry; location; timing; startups; new technology-based firms; NTBF performance; entrepreneurship; entrepreneurial funding. (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijeven:v:5:y:2013:i:4:p:345-368

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