Quotation Bellavitis, Cristiano, Rietveld, Joost, Filatotchev, Igor. 2019. The effects of prior co‐investments on the performance of venture capitalist syndicates: A relational agency perspective. Strategic Entrepreneurship Journal (SEJ). 240-264.


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Abstract

This study provides a reconciliation ofprevious findings regarding the effects of prior co-investments among venture capitalists (VCs) and the perfor-mance of VC syndicates. We propose a relational agencyframework outlining cost–benefit trade-offs associated withprior co-investments between VCs. A longitudinal study of4,550 U.S. ventures receiving syndicated investments from1980 to 2017 shows that there exists an inverted U-shapedrelationship between the number of prior co-investmentsand a venture's likelihood of a successful exit through initialpublic offering or merger and acquisition. We further findthat the relationship between prior co-investments and syn-dicate performance is moderated by venture- and partner-specific risks.

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Publication's profile

Status of publication Published
Affiliation WU
Type of publication Journal article
Journal Strategic Entrepreneurship Journal (SEJ)
Citation Index SSCI
WU Journalrating 2009 A
WU-Journal-Rating new FIN-A, MAN-A, STRAT-A, WH-A
Language English
Title The effects of prior co‐investments on the performance of venture capitalist syndicates: A relational agency perspective
Year 2019
Page from 240
Page to 264
Reviewed? Y
DOI http://dx.doi.org/10.1002/sej.1320
Open Access N

Associations

People
Filatotchev, Igor (Details)
External
Bellavitis, Cristiano (University of Auckland, New Zealand)
Rietveld, Joost (University College London, United Kingdom)
Organization
Competence Center for Emerging Markets and CEE WE (Details)
Institute for International Business (Dikova) (Details)
Institute for International Business IN (Details)
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