Human capital and the internationalization of venture capital firms
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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- Andersson, Svante, 2004. "Internationalization in different industrial contexts," Journal of Business Venturing, Elsevier, vol. 19(6), pages 851-875, November.
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