Linking prefunding venture structure and venture capital exit performance
by Jan-Georg Streletzki
International Journal of Entrepreneurial Venturing (IJEV), Vol. 5, No. 4, 2013

Abstract: This study investigates the state of the art on venture capital (VC) success prediction and compares it to the findings on general start up performance, and new technology-based venture (NTBV) performance in particular. It is still generally believed that the factors responsible for general venture performance also drive VC performance. This study argues that there is a need for differentiation: VCs and founders pursue different goals, and VC funded ventures grow under different conditions than their non-funded counterparts. Results of a structured literature review show, while team-related predictors have a comparatively lower impact, market related predictors have a higher impact on exit performance than on NTBV performance. Also, VC-specific predictors like timing and distance are shown to have an influence on exit performance.

Online publication date: Thu, 30-Jan-2014

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