portfolio companies. This paper investigates the channels through which banks pursue such a strategy. Using detailed data from …

incumbent over entrants.Banks all over the world show interest in acting as venture capitalists. In this paper, I argue that … banks offer venture capital (VC) financing along with traditional (collateralized) loans in response to the natural …

significant differences between the investors which are linked to banks and those financiers which are not. Although, the bank …-up financing ; venture capital ; banks …

highlight an opposite effect: higher profitability loosens bank borrowing constraints. This enables profitable banks to take …

develop a contingent-claims model with monopolistically competitive banks that rationalizes these facts and shows how credit …-market conditions determine loan fees and concentration. Our findings highlight banks' market power as a channel through which the …

findings appear to confirm our suspicions that new enterprises consistently experience higher denials from banks compared to …

Banks all over the world show interest in acting as venture capitalists. In this paper, I argue that banks offer …

We investigate the patterns and performance of banks’ investments in fintech ventures in the United States. We document … that banks, as compared to independent venture capitalists (IVCs), invest a larger proportion in fintech startups and … achieve a higher IPO exit rate. The better exit performance is neither explained by banks’ tendency to invest in later …