The Syndication Network and Deal Flow of Venture Capital Firms

Abstract:     
This paper analyzes the positions that Venture Capital firms hold in a syndication network and determines the effect that network positions have on generating deal flow quantity and quality. Using data on syndicated investments in the German venture capital market and data on the deal flow of the firms, we show that those firms that hold network positions characterized by network openness have a higher deal flow quantity and quality.

Note: Downloadable document is in German.

Keywords: German capital market, syndication network, venture capital, deal flow

JEL Classifications: D23, G24, G32

Working Paper Series