Economics at your fingertips  

Nothing Ventured - Nothing Gained? Empirical Evidence on Venture Capital Financing in Switzerland

Christian Hopp

Swiss Journal of Economics and Statistics (SJES), 2007, vol. 143, issue III, 239-260

Abstract: This paper analyses the Determinants of Venture Capital Staging and Syndication in Switzerland. I find that among the different affiliations of VC investors in Switzerland especially independent investors make more extensive use of staged capital infusions. Moreover, the results suggest that staging is employed as a tool for mitigating risks in VC financing. In addition, I find that Syndication can serve as an entrance strategy for foreign VC providers. Furthermore, I find evidence that firms, which realize the benefit of staging, do also become conscious of the value added in financing Start Ups by involving partners. Consequently, VC firms that make use of staging are also more open to syndication. With respect to the value-added of Co-Investment behavior, I show that syndication positively impacts the success rate of a VC provider, whereas VC firms that are more locally embedded do exhibit lower success rates for their investment portfolio.

Keywords: Venture Capital; Entrepreneurship; Syndication (search for similar items in EconPapers)
JEL-codes: G24 G31 (search for similar items in EconPapers)
Date: 2007
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed

Downloads: (external link) (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Access Statistics for this article

Swiss Journal of Economics and Statistics (SJES) is currently edited by Rafael Lalive

More articles in Swiss Journal of Economics and Statistics (SJES) from Swiss Society of Economics and Statistics (SSES) Contact information at EDIRC.
Bibliographic data for series maintained by Peter Steiner ( this e-mail address is bad, please contact ).

Page updated 2022-03-27
Handle: RePEc:ses:arsjes:2007-iii-1