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  • All HBS Web  (8,797)
    • People  (23)
    • News  (1,074)
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    • Multimedia  (31)
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  • 20 Dec 2013
  • News

Learning a lesson from venture capital

  • March 2022
  • Article

Gender Gaps in Venture Capital Performance

By: Paul A. Gompers, Vladimir Muhkarlyamov, Emily Weisburst and Yuhai Xuan
We explore gender differences in performance in a comprehensive sample of venture capital investments in the United States. Investments by female venture capital investors have significantly lower success rates than investments by their male colleagues when controlling... View Details
Keywords: Venture Capital; Investment; Performance; Gender
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Gompers, Paul A., Vladimir Muhkarlyamov, Emily Weisburst, and Yuhai Xuan. "Gender Gaps in Venture Capital Performance." Journal of Financial and Quantitative Analysis 57, no. 2 (March 2022): 485–513.
  • 2019
  • Chapter

Coordination Frictions in Venture Capital Syndicates

By: Ramana Nanda and Matthew Rhodes-Kropf
An extensive literature on venture capital has studied asymmetric information and agency problems between investors and entrepreneurs, examining how separating entrepreneurs from the investor can create frictions that might inhibit the funding of good projects. It has... View Details
Keywords: Syndication; Frictions; Venture Capital; Networks; Entrepreneurship
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Nanda, Ramana, and Matthew Rhodes-Kropf. "Coordination Frictions in Venture Capital Syndicates." In The Oxford Handbook of Entrepreneurship and Collaboration, edited by Jeffrey J. Reuer, Sharon Matusik, and Jessica F. Jones. New York: Oxford University Press, 2019.
  • October 1996 (Revised November 1997)
  • Background Note

Venture Capital and Private Equity: Course Overview

By: Josh Lerner
Provides an overview of the Venture Capital and Private Equity modules. View Details
Keywords: Venture Capital; Private Equity
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Lerner, Josh. "Venture Capital and Private Equity: Course Overview." Harvard Business School Background Note 297-045, October 1996. (Revised November 1997.)
  • 2018
  • Working Paper

Coordination Frictions in Venture Capital Syndicates

By: Ramana Nanda and Matthew Rhodes-Kropf
An extensive literature on venture capital has studied asymmetric information and agency problems between investors and entrepreneurs, examining how separating entrepreneurs from the investor can create frictions that might inhibit the funding of good projects. It has... View Details
Keywords: Syndication; Venture Capital; Networks; Entrepreneurship
Citation
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Nanda, Ramana, and Matthew Rhodes-Kropf. "Coordination Frictions in Venture Capital Syndicates." Harvard Business School Working Paper, No. 17-089, April 2017. (Revised January 2019. Published in The Oxford Handbook of Entrepreneurship and Collaboration.)
  • 2022
  • Working Paper

Racial Diversity in Private Capital Fundraising

By: Johan Cassel, Josh Lerner and Emmanuel Yimfor
Black- and Hispanic-owned funds control a very modest share of assets in the private capital industry. We find that the sensitivity of follow-on fundraising to fund performance is greater for minority-owned groups, particularly for underperforming groups. We... View Details
Keywords: Buyouts; Capital Formation; Minorities; Venture Capital; Minority-owned Businesses; Race; Diversity; Investment Funds; Financial Services Industry
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Cassel, Johan, Josh Lerner, and Emmanuel Yimfor. "Racial Diversity in Private Capital Fundraising." Harvard Business School Working Paper, No. 23-020, September 2022.
  • April 2023
  • Technical Note

Venture Capital Firms: What Drives Success?

By: Jo Tango and Alys Ferragamo
With the rapid growth of venture capital (“VC”) in recent decades, we might wonder: who succeeds at VC and why? This is a complicated question, as many factors come into play. VC partnerships are comprised of individual investors with varying backgrounds, experiences,... View Details
Keywords: Venture Capital; Investment; Success
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Tango, Jo, and Alys Ferragamo. "Venture Capital Firms: What Drives Success?" Harvard Business School Technical Note 823-115, April 2023.
  • Winter 2014
  • Article

Labor Regulations and European Venture Capital

By: Ant Bozkaya and William R. Kerr
European nations substitute between employment protection regulations and labor market expenditures (e.g., unemployment insurance benefits) for providing worker insurance. Employment regulations more directly tax firms making frequent labor adjustments than other labor... View Details
Keywords: Insurance; Labor; Europe
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Bozkaya, Ant, and William R. Kerr. "Labor Regulations and European Venture Capital." Journal of Economics & Management Strategy 23, no. 4 (Winter 2014): 776–810.
  • 26 Jan 2004
  • Research & Ideas

How Women Can Get More Venture Capital

hypothesis that if there were more women who were venture capitalists then there would be more points of intersection with women entrepreneurs. In our research using information from 1995 and 2000, we documented all the women in the View Details
Keywords: by Mallory Stark & Martha Lagace
  • 2023
  • Working Paper

Learning by Investing: Entrepreneurial Spillovers from Venture Capital

By: Josh Lerner, Jinlin Li and Tong Liu
This paper studies how investing in venture capital (VC) affects the entrepreneurial outcomes of individual limited partners (LPs). Using comprehensive administrative data on entrepreneurial activities and VC fundraising and investments in China, we first document that... View Details
Keywords: Partners and Partnerships; Entrepreneurship; Venture Capital; Investment; China
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Lerner, Josh, Jinlin Li, and Tong Liu. "Learning by Investing: Entrepreneurial Spillovers from Venture Capital." Harvard Business School Working Paper, No. 24-029, November 2023.
  • 22 Sep 2004 - 25 Sep 2004
  • Conference Presentation

The Role and Participation of Women in the Venture Capital Industry

By: C. G. Brush, N. M. Carter, E. J. Gatewood, P. G. Greene and Myra M. Hart
Keywords: Venture Capital; Gender
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Brush, C. G., N. M. Carter, E. J. Gatewood, P. G. Greene, and Myra M. Hart. "The Role and Participation of Women in the Venture Capital Industry." Women's Association of Venture & Equity, New York, NY, September 22–25, 2004.
  • August 2003 (Revised May 2009)
  • Background Note

Basic Venture Capital Formula, The

By: William A. Sahlman and Matthew Willis
Briefly summarizes the process that venture capitalists use to analyze high-risk, long-term investments. Contains information on methods that can be used to calculate valuation, share price, percent ownership, implied valuation, dilution, and option pools. View Details
Keywords: Venture Capital; Risk Management; Mathematical Methods; Valuation
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Sahlman, William A., and Matthew Willis. "Basic Venture Capital Formula, The." Harvard Business School Background Note 804-042, August 2003. (Revised May 2009.)
  • Web

Venture Capital Advisors - Entrepreneurship

Tasneem Dohadwala Excelestar Ventures Richard Dulude Co-Founder & General Partner Underscore VC Arjun Goyal Vida Ventures Boston, MA Rick Grinnell Glasswing Ventures Sarah... View Details
  • 2007
  • Other Unpublished Work

Positions of Power and Status: Reciprocity in the Venture Capital Industry

By: Mikolaj Jan Piskorski
This paper proposes a straightforward way of differentiating between central network positions that confer power from those that confer status. I argue that actors achieve high status by receiving numerous exchanges from actors who receive numerous exchanges from... View Details
Keywords: Venture Capital; Power and Influence; Opportunities; Status and Position
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Piskorski, Mikolaj Jan. "Positions of Power and Status: Reciprocity in the Venture Capital Industry." March 2007.
  • Article

The Venture Capital Revolution

By: Paul A. Gompers and J. Lerner
Keywords: Venture Capital
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Gompers, Paul A., and J. Lerner. "The Venture Capital Revolution." Journal of Economic Perspectives 15, no. 2 (Spring 2001): 145–168.
  • October 1995
  • Exercise

Venture Capital Method - Valuation Problem Set

By: William A. Sahlman and Andrew S. Janower
Presents a short problem set designed as an introduction to the venture capital method of problem solving. View Details
Keywords: Venture Capital; Valuation
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Sahlman, William A., and Andrew S. Janower. "Venture Capital Method - Valuation Problem Set." Harvard Business School Exercise 396-090, October 1995.
  • August 2001
  • Case

Chrysalis Capital: Venture Capital in an Emerging Market

Examines the founding and early development of an Indian venture capital firm. Focuses on the opportunity in the Indian high-technology sector, how the founders have adapted the U.S. venture capital model to an emerging market context, and the organizational challenges... View Details
Keywords: Venture Capital; Emerging Markets; Technology Industry; India
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Kennedy, Robert E. "Chrysalis Capital: Venture Capital in an Emerging Market." Harvard Business School Case 702-005, August 2001.
  • October 2005
  • Teaching Note

Venture Capital Game (TN)

By: G. Felda Hardymon and Ann Leamon
Keywords: Venture Capital
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Hardymon, G. Felda, and Ann Leamon. "Venture Capital Game (TN)." Harvard Business School Teaching Note 806-022, October 2005.
  • 1999
  • Book

The Venture Capital Cycle

By: P. Gompers and J. Lerner
Keywords: Venture Capital
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Gompers, P., and J. Lerner. The Venture Capital Cycle. Cambridge, MA: MIT Press, 1999. (Beijing: Economic Science Press, 2001 (Chinese edition). Tokyo: Springer-Verlag Tokyo, 2001 (Japanese edition). Seoul: Kukil Securities and Economics Research Institute, 2001 (Korean edition))
  • October 1996 (Revised April 2011)
  • Module Note

Venture Capital and Private Equity: Module III

By: Josh Lerner, G. Felda Hardymon and Ann Leamon
Provides an overview of a module that focuses on existing venture capital and other private equity investments. View Details
Keywords: Venture Capital; Private Equity; Investment
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Lerner, Josh, G. Felda Hardymon, and Ann Leamon. "Venture Capital and Private Equity: Module III." Harvard Business School Module Note 297-042, October 1996. (Revised April 2011.)
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