Basnet, Anup; Pukthuanthong, Kuntara; Turtle, Harry J.; … - 2022
We examine how the ownership of lead venture capital firms (VCs) evolves after their portfolio companies (PCs) are publicly listed. The VC investment period before the IPO, the VC age, the PC age, and the percentage change in the post-IPO stock price all incentivize earlier VC exit. Lead VCs...