Deli, Daniel N.; Santhanakrishnan, Mukunthan - In: The Financial Review 45 (2010) 3, pp. 557-578
We examine syndication in venture capital (VC) investments between 1980 and 2005. We argue that VC firms syndicate investments to mitigate human capital and financial constraints within individual VC firms and to reduce uncertainty about firm value. Our results are consistent with those...