We compare and contrast the performance of cross-border and domestic venture capital (VC) investments in terms of the time it takes VC backers to exit portfolio companies through initial public offering (IPO), trade sale (M&A), or other routes. Initial analysis suggests that cross-border...

Venture capital (VC) cross-border syndication has increased significantly in recent years. This study examines the risk and returns of investments of US–European cross-border syndicates in US portfolio companies. We use a large sample of investments across four financing stages, and highlight...

In this paper, we present a new approach to measure the returns of private equity investments based on a stochastic model of the dynamics of a private equity fund. Our stochastic model of a private equity fund consists of two independent stages: the stochastic model of the capital drawdowns and...

Im Sommer 2003 beschlossen die StartUp-Initiative und das Center for Entrepreneurial and Financial Studies (CEFS), gemeinsam eine wissenschaftliche Untersuchung durchzuführen, um Erkenntnisse über die aktuelle Entwicklung junger, innovativer Unternehmen in Deutschland zu gewinnen. Im...

We analyze the risk, return and cash flow characteristics of infrastructure investments by using a unique dataset of deals done by private equity-like investment funds. We show that infrastructure deals have a performance that is higher than that of noninfrastructure deals, despite lower default...