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Business Angels’ Perspectives on Exit by IPO

Carpentier, Cécile - 2014

We analyze exit-related perceptions of the members of a large, well-structured Canadian angel group. Because they invest in high tech deals larger than CAN$1.2 million, together with venture capitalists and a matching fund, these angels should consider the initial public offering (IPO) as a...

Persistent link: https://www.econbiz.de/10013056196

What One Can Learn from the Initial Public Offering of Google? A Twenty-Year Excursion to the Venture Capital Industry

Shachmurove, Yochanan; Shachmurove, Emanuel - 2012

Over the past two decades the venture capital industry became a major focus for the financial media. With potential for high rates of return, this industry attracts entrepreneurs looking for opportunities to invest. While some investments are successful and highly publicized, many are not. This...

Persistent link: https://www.econbiz.de/10014068907

Debt as Venture Capital

Ibrahim, Darian M. - 2010

Venture debt, or loans to rapid-growth start-ups, is a puzzle. How are start-ups with no track records, positive cash …? And why do start-ups take on debt rather than rely exclusively on equity investments from angel investors and venture … puzzle of venture debt by revealing that a start-up's VC backing and intellectual property substitute for traditional loan …

Persistent link: https://www.econbiz.de/10013152530

Liquidity events and returns of EIF-backed VC investments

Prencipe, Dario - 2017

Despite the sometimes intensive media coverage and exuberant storytelling around the industry, venture capital (VC) investors tend to operate in highly opaque markets. On this premise, this work contributes to the literature via a hand-collected dataset of about 3,600 EIF-backed VC investments...

Persistent link: https://www.econbiz.de/10011863286

Public equity markets and innovation

Bernstein, Shai - 2017

This paper reviews the literature on the role of public equity markets in the innovation ecosystem. The review highlights the importance of public equity markets in funding the research and development activities of young and high growth firms. It also illustrates the dependence of venture...

Persistent link: https://www.econbiz.de/10011723674

No Financial Cleanup : A Study of Venture Capital Returns on Cleantech IPOs

Bygrave, William D. - 2014

We studied the financial returns of 52 venture-capital-backed cleantech companies that had IPOs between 2000 and 2010. The median IRR for the first round of venture capital was 26.1% with a range from -10.4% to 140.0%. The median IRR on the third round was 24.5% with a range from 8.1% to 184.6%....

Persistent link: https://www.econbiz.de/10013056635

Delaware Incorporation Matters for New Ventures : Evidence from Venture Capital Investment and the Going Public Process

Waisman, Maya - 2010

In the United States, corporate actors choose their state of incorporation and are subject to the laws of the state in which they are incorporated. Incorporating in Delaware is a common move for most U.S. firms, especially those interested in attracting venture capital, as the state's...

Persistent link: https://www.econbiz.de/10013148782

Meta-analyzing the relative performance of venture capital-backed firms

Lohwasser, Todor S. - 2020

In this study, we perform a meta-analysis on existing research covering the relationship between a venture capitalist's involvement (VCI) and the performance (P) of funded firms. As research on this topic has been inconclusive, we aim to determine whether providers of venture capital (VC) only...

Persistent link: https://www.econbiz.de/10012213477

Venture Capital and Risk Management : Evidence from Initial Public Offerings

Bamford, Charles E - 2014

This study analyzes a sample of initial public offerings (IPOs) to examine the sources of firm-specific risk associated with investment by venture capitalists. The results indicate that IPO backing by venture capitalists is associated with risk factors related to operating profit margins and...

Persistent link: https://www.econbiz.de/10013058636

Leave no Money on the Table : Venture Capitalists’ SPAC Exits

Groh, Alexander Peter; Proelss, Juliane; Sannajust, Aurelie - 2022

Taking ventures public is the most rewarding exit alternative to venture capitalists (VCs) in terms of financial returns and reputational gains. However, in recent years, special purpose acquisition vehicles (SPACs) have served to bring companies public without the delay of an IPO process and...

Persistent link: https://www.econbiz.de/10013403325