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Venture capitalists and the internationalisation of new ventures – a Portuguese case study

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  • Paulo Ribeiro
  • Raquel Meneses

Abstract

Internationalisation is widely believed to be a very relevant dimension in companies across countries. Nevertheless, operating abroad might not be easy for new ventures. This study approached venture capitalist (VC) intervention in these firms. It comprises two main points of view: the VC's perspective and that of the INV. According to the VCs, industry knowledge, prior international experience or syndicated investments are some of the VC's most important characteristics operating abroad. However, for INVs, the VC's support is not considered important overcoming the international constraints, since there are no significant differences between backed and non-backed firms. There are a dissonance between what VCs believe are offering and what backed-firms are getting from this support. Nevertheless, this work includes a contribution of the changes in the backed firm's management team and the industry experts' role on the board. These changes are associated to the degree to which internationalisation occurs in companies.

Suggested Citation

  • Paulo Ribeiro & Raquel Meneses, 2020. "Venture capitalists and the internationalisation of new ventures – a Portuguese case study," Global Business and Economics Review, Inderscience Enterprises Ltd, vol. 22(1/2), pages 135-160.
    • Handle: RePEc:ids:gbusec:v:22:y:2020:i:1/2:p:135-160
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