We look at syndication in the venture capital industry. Investments conducted by syndicates are believed to have better chances of being successful, measured by the survival probability of portfolio companies or by successful exits. Using a novel and large dataset, covering several countries,...

Start-up growth is often treated as a stylised fact, despite an extensive research body composed of divergent theories and empirical findings. Against this background, this work contributes to the literature by analysing a hand-collected dataset of 2,951 EIF-backed VC start-ups. Section 2...

This paper analyses the Business Angel (BA) portfolio of the European Angels Fund (EAF), an initiative of the European Investment Fund, which engages in co-investment relationships with experienced business angels across Europe. It uses EIF’s proprietary database to shed light on a specific...

We examine the challenge entrepreneurial companies face in going beyond the start-up phase and growing into large successful companies. We examine the long-term financing of these so-called scale-up companies, focusing on the United States, Europe and Canada. We first provide a conceptual...