Human capital and the internationalisation of venture capital firms |
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Authors: | Sophie Manigart Veroniek Collewaert Mike Wright Sarika Pruthi Andy Lockett Hans Bruining Ulrich Hommel Hans Landstrom |
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Affiliation: | (1) Ghent University, Ghent, Belgium;(2) Vlerick Leuven Gent Management School, Louvain, Belgium;(3) Nottingham University Business School, Nottingham, UK;(4) Erasmus University Rotterdam, Rotterdam, The Netherlands;(5) European Business School, London, UK;(6) Lund University, Lund, Sweden |
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Abstract: | We examine the neglected area of internationalisation by VCs. Using a representative sample of 195 VCs, we show that the decision of a European VC firm to invest internationally is driven by its human resources. Having more VC executives in general and more VC executives with previous international experience in specific, results in a higher probability of investing internationally. In contrast, more VC executives with experience in the VC industry or with an engineering background lead to a higher probability of remaining domestic. |
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Keywords: | Venture capital Internationalisation Human capital |
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