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Understanding global flows of venture capital: Human networks as the “carrier wave” of globalization

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  • Ravi Madhavan

    (Katz Graduate School of Business, University of Pittsburgh, Pittsburgh, USA)

  • Akie Iriyama

    (School of Management, State University of New York at Buffalo, Buffalo, USA)

Abstract

Industry participants and observers view venture capital as fundamentally a local business. However, recent data show an increasing share of US venture capital investments flowing overseas. We suggest that cross-border venture capital flows are associated with the formation of “transnational technical communities” (TTCs), groups of immigrants active in both home- and host-country technical networks. Our results highlight the role of human networks as a mechanism of industry globalization, and support the view that TTCs are emerging economic actors in their own right.

Suggested Citation

  • Ravi Madhavan & Akie Iriyama, 2009. "Understanding global flows of venture capital: Human networks as the “carrier wave” of globalization," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 40(8), pages 1241-1259, October.
    • Handle: RePEc:pal:jintbs:v:40:y:2009:i:8:p:1241-1259
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