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by Sergey Chernenko, Josh Lerner, and Yao ZengRemove by Sergey Chernenko, Josh Lerner, and Yao Zeng →

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  • May 2021
  • Article

Mutual Funds as Venture Capitalists? Evidence from Unicorns

By: Josh Lerner, Sergey Chernenko and Yao Zeng
The past decade saw the rise of both “founder-friendly” venture financings and non-traditional investors, frequently with liquidity constraints. Using detailed contract data, we study open-end mutual funds investing in private venture-backed firms. We posit an... View Details
Keywords: Investment Funds; Investment; Business Startups; Venture Capital; Private Equity; Governance
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