Using a sample of 1485 funded firms in Germany, we analyse the driving forces of Venture Capitalist (VC) syndication and try to disentangle the circumstances under which VCs engage in collaboration with partners. The results indicate that syndication is more pronounced for younger funded firms....

The importance of informal institutions and in particular culture for entrepreneurship is a subject of ongoing interest. Past research has mostly concentrated on cross-national comparisons, cultural values and the direct effects of culture on entrepreneurial behaviour, but in the main found...

In this paper we analyze the relation between an investor’s experience and the intensity of monitoring activities. Specifically, we consider venture capitalist firms and their choices of time intervals between financing rounds. We hypothesize that more industry investment experience leads to...

Using a cross-section of Venture Capital (VC) transactions in Germany during the period 1995 to 2005, I analyse the origins of social networks in VC financing and document how they evolve over time. I focus specifically on the industry and investment experience of VCs as a resource to allow for...

This paper analyses the syndication behavior of VC organisations and the factors influencing their overall propensity to co-invest. We develop hypothesis concerning the investment behavior of Venture Capitalists in the German market and compare these hypothesis to the actual empirical evidence...

This paper analyses the Determinants of Venture Capital Staging and Syndication in Switzerland. I find that among the different affiliations of VC investors in Switzerland especially independent investors make more extensive use of staged capital infusions. Moreover, the results suggest that...

Using data on the establishment of Venture Capital syndicates in Germany during the period 1995-2005 I document that relationships are formed between VCs that occupy different strategic positions in the network to allow for the combination of complimentary investment expertise.