Fundraising and Syndication in the Venture Capital Industry

Publication Type
Lecture
Authors
Kuckertz, Andreas
Year of publication
2015
Series/labeling
Leipzig Entrepreneurship Lecture
Conference name
Accelerate@HHL Conference 2015
Conference location
Leipzig
Conference date
10.4.2015
Abstract

This lecture discusses strategies and tactics of venture capital firms when raising funds from limited partners and investing together with other venture capital firms (syndication). I present a number of published and unpublished studies from my research group that illustrate

-    how the fundraising process can be structured,
-    how VC firms can compensate missing track record in the fundraising process and
-    how especially new entrants to the VC industry can utilize syndication in order to develop successful investments.

The analyses are based on two unique datasets – a cross-sectional global sample of limited partners and a longitudinal sample of syndicated VC investments in Germany. Taken together, the lecture highlights key success factors regarding two important steps in the VC investment process. 

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