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University Venture Capital – The Promise and Pitfalls of University Direct Investments

Kremer, Maximilian; Achleitner, Ann‐Kristin; Braun, Reiner - 2022

capital financiers. Here, we analyze if investments in university-affiliated portfolio companies, in the form of an … institutional-personal relation between the university and the founders, are a commercially successful investment proposition. We … use a hand-collected data set of 706 university portfolio companies in the United States and the United Kingdom to extend …

Persistent link: https://www.econbiz.de/10013296803

Start-ups Defined as Portfolios of Embedded Options

Botteron, Pascal; Casanova, Jean-François - 2003

This paper shows the advantages of staged investments for venture capitalists.

Persistent link: https://www.econbiz.de/10005843484

Employment Contribution of Private Equity and Venture Capital in Europe

Achleitner, Ann-Kristin; Klöckner, Oliver - Center for Entrepreneurial and Financial Studies <München> - 2005

Over the past ten years, private equity and venture capital have played an increasingly important role in the European economy. In parallel to the increase in investments, contribution of the private equity and venture capital industry to employment in Europe has grown.Against this background,...

Persistent link: https://www.econbiz.de/10005870401

The Advantage of Experienced Start-Up Foundersin Venture Capital Acquisition:Evidence from Serial Entrepreneurs

Zhang, Junfu - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2007

Existing literature suggests that entrepreneurs with prior firm-founding experience have moreskills and social connections than novice entrepreneurs. Such skills and social connectionscould give experienced founders some advantage in the process of raising venture capital.This paper uses a large...

Persistent link: https://www.econbiz.de/10005862321

Informed Capital in a HostileEnvironment - The Case ofRelational Investors in Germany

Schäfer, Dorothea; Schilder, Dirk - Technische Universität <Freiberg> / Fakultät für … - 2006

Informed capital is a crucial ingredient to a well-functioning market for start-upfinance, especially in times of difficult market conditions. For bank-basedsystems, the question regarding which investors actually supply informed capitalhas not yet been answered. To fill this gap, we conduct a...

Persistent link: https://www.econbiz.de/10005864104

Does Venture Capital investmentreally require spatial proximity?An empirical investigation

Fritsch, Michael; Schilder, Dirk - Technische Universität <Freiberg> - 2006

Grund für eineregionale Unterversorgung an Risikokapital darstellt... …

Persistent link: https://www.econbiz.de/10005864108

Public Venture Capital in Germany -Task Force or Forced Task?

LinkSchilder, Dirk - Technische Universität <Freiberg> - 2006

This paper deals with the question of whether public venture capital (VC) isperforming its task properly, taking a look at how public VC companies selectionprocess, investment behavior, and consulting services reflect goals that differ fromthose of private VC firms. The results present...

Persistent link: https://www.econbiz.de/10005864116

Is Venture Capital a regional business? - The role of syndication

Fritsch, Michael; Schilder, Dirk - Max-Planck-Institut für Ökonomik <Jena> - 2006

We investigate whether the supply of Venture Capital (VC) in Germany is driven by spatial influences. The study is based on information from more than 300 VC investments made in Germany between 2004 and 2005. We find evidence that the geographical distance between a VC company and the portfolio...

Persistent link: https://www.econbiz.de/10005864733

Financing High-Tech Growth: The Role of Debt or Equity

Audretsch, David B.; Lehmann, Erik - Max-Planck-Institut für Ökonomik <Jena> - 2004

Using a data set of the firms listed on the Neuer Markt in Germany, this paper demonstrates that venture backed firms differ from firms with other financial resources, especially debt. Thus, the results of this study provide evidence for the hypothesis that small and innovative firms are more...

Persistent link: https://www.econbiz.de/10005865242

On the Real Effects of Private Equity InvestmentEvidence from New Business Creation

Popov, Alexander; Roosenboom, Peter - European Central Bank - 2009

Using a comprehensive database of European firms, we study how private equityaffects the rate of firm entry. We find that private equity investment benefits newbusiness incorporation, especially in industries with naturally higher entry rates andR&D intensity. A two standard deviation increase...

Persistent link: https://www.econbiz.de/10005866482

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