Using the VC industry as a laboratory, we investigate whether incidental in-person interactions between people working in close proximity facilitate their future collaboration on projects of significant economic value. Our analysis exploits urban topological features surrounding VC fund offices...

We provide evidence that venture capitalists (VCs) strategically enhance their current funds’ interim performance around new fundraising events. Using novel investment-round-level pricing data, we document that, immediately prior to raising another fund, VCs tend to invest in follow-on...

We assess whether a VC’s intrinsic commitment to a startup affects investment performance. We proxy for climate change commitment using the political contributions to democrats of the lead VC person on a deal. We find investments by democrats in climate-related startups have 8% higher...

This paper analyzes the role of foreign VCs in driving venture success in emerging markets. We analyze a comprehensive data-set of 4753 portfolio companies from China. We test whether the presence of a foreign VC increases the likelihood that a portfolio company is successfully exited. We find...

We use a comprehensive database of venture-capital-backed companies from China to test whether and how foreign venture capitalists (VCs) can facilitate international initial public offerings (IPOs) of entrepreneurial companies. Foreign VCs increase the likelihood that a portfolio company lists...