Genetically Engineered: Why Some Venture Capital Firms are More Successful than Others

22 Pages Posted: 2 Jan 2009

See all articles by Jennifer M. Walske

Jennifer M. Walske

Boston University

Andrew Zacharakis

Babson College - Arthur M. Blank Center for Entrepreneurship

Abstract

While venture capital has received a tremendous amount of attention, prior research has predominantly looked at venture capital firms (VCFs) post raising their first fund. In this paper, we move the point of analysis back further and ask what type of founding team experience best predicts VCF success, controlling for firm strategy, firm size, and the environment upon which the firm was born. Empirical results show that venture capital, senior management, and consulting experience aids VCF success, while entrepreneurial experience impedes it. None of the control variables affect a VCF's ability to raise subsequent funds.

Suggested Citation

Walske, Jennifer M. and Zacharakis, Andrew, Genetically Engineered: Why Some Venture Capital Firms are More Successful than Others. Entrepreneurship Theory and Practice, Vol. 33, Issue 1, pp. 297-318, January 2009. Available at SSRN: https://ssrn.com/abstract=1321564 or http://dx.doi.org/10.1111/j.1540-6520.2008.00290.x

Jennifer M. Walske (Contact Author)

Boston University ( email )

595 Commonwealth Avenue
Boston, MA 02215
United States

Andrew Zacharakis

Babson College - Arthur M. Blank Center for Entrepreneurship ( email )

Babson Park, MA 02457-0310
United States

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