capital portfolio. I draw on prototype theory to argue that reinvestment is more likely in portfolio companies that "look like …" successful VC-backed firms, while investment termination is more likely for firms that "look like" losing portfolio companies …. Financial risk is an equivocal signal because it can indicate a problem or recur by design in the VC-backed portfolio company …

: the uncertainty perspective, the resilience perspective, and the opportunity perspective. To obtain a complete picture of … provides paths toward creative reconstruction, that is, the opportunity to move beyond pre-crisis levels of innovation and …