Resource exchange and the Asian venture capital fund/portfolio company dyad

Barbara Cornelius and Sayed Ahmed Naqi

Venture Capital, 2002, vol. 4, issue 3, 253-265

Abstract: This paper is the result of an examination of the basic dynamics governing the relationship between venture capitalists and their portfolio companies using the resource exchange paradigm. An alignment between the needs of the portfolio company for particular resources and the ability of the venture capitalist to add these resources to the total resource pool drawn on by the entrepreneur is seen as a necessary precursor to venture capital involvement in portfolio companies. Through an examination of the thriving venture capital market in Hong Kong and Singapore it is concluded that resource exchange, and hence value addition, depend upon the venture capitalist's perception of the resource needs of the portfolio company rather than on the resources available from the venture capital firm.

Date: 2002
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DOI: 10.1080/13691060213716

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