The paper analyses venture capitalists’ selection process in biotechnology ventures. Biotech ventures operate in an extremely risky environment making this an interesting research setting. The majority of venture capitalists exclude certain biotech sectors exante because of regulatory...

The goal of this research is to determine how the riskynature of biotechnology ventures influences the investment decision process ofventure capitalists (VCs). First, the method of this qualitative study isdescribed: between October 2003 and February 2004, questionnaires andinterviews were...