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Closing the gap or enlarging the pool: How venture capitalist differ in their syndication motives

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  • Carola Jungwirth
  • Petra Moog

    (Institute for Strategy and Business Economics, University of Zurich
    Institute for Strategy and Business Economics, University of Zurich)

Abstract

The question why venture capitalists syndicate their deals has been attract-ing growing attention. The paper analyses how the motives of two types of venture capitalists do differ. Focusing on information costs it expects that venture capitalists with the standard basic know-how in founding and financing new enterprises syndicate to get access to specific knowledge while venture capital-ists with specific knowledge concerning a certain industry or financing stage syndicate to get access to deal flow. Hypotheses are tested via a dataset of 103 venture capitalists in Austria, Germany, and Switzerland.

Suggested Citation

  • Carola Jungwirth & Petra Moog, 2004. "Closing the gap or enlarging the pool: How venture capitalist differ in their syndication motives," Working Papers 0023, University of Zurich, Institute for Strategy and Business Economics (ISU).
    • Handle: RePEc:iso:wpaper:0023
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    References listed on IDEAS

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    2. Carola Jungwirth & Petra Moog, 2003. "Support Strategies in Venture Capital Financing: Nurturing or Selection," Working Papers 0018, University of Zurich, Institute for Strategy and Business Economics (ISU).
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    Cited by:

    1. Anne Stévenot-Guéry, 2007. "Capital-investissement en syndication:les enjeux en termes de gouvernance disciplinaire et cognitive à partir d’une étude de cas multi-sites," Revue Finance Contrôle Stratégie, revues.org, vol. 10(4), pages 141-178, December.
    2. Carola Jungwirth & Petra Moog, 2004. "Selection and support strategies in venture capital financing: high-tech or low-tech, hands-off or hands-on?," Venture Capital, Taylor & Francis Journals, vol. 6(2-3), pages 105-123, March.

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