venture capital (VC) financing. We argue that investors are faced with considerable uncertainty and therefore rely on patents … analysis, we find that in the presence of patent applications, VC financing occurs earlier. Our results also show that VCs pay … attention to patent quality, financing those ventures faster which later turn out to have high-quality patents. Patent …

venture capital (VC) financing. We argue that investors are faced with considerable uncertainty and therefore rely on patents … analysis, we find that in the presence of patent applications, VC financing occurs earlier. Our results also show that VCs pay … attention to patent quality, financing those ventures faster which later turn out to have high-quality patents. Patent …