Essays on venture capital

<p>This thesis explores the dynamics of venture capital (VC) and its critical role in driving innovation and growth in startups. It investigates three key areas: the evolution of financial contracts between investors and founders, the influence of founding team characteristics on VC investment...

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Bibliographic Details
Main Author: Fu, D
Other Authors: Jenkinson, T
Format: Thesis
Language:English
Published: 2024
Subjects:
Description
Summary:<p>This thesis explores the dynamics of venture capital (VC) and its critical role in driving innovation and growth in startups. It investigates three key areas: the evolution of financial contracts between investors and founders, the influence of founding team characteristics on VC investment decisions, and the impact of gender diversity within VC firms on investment outcomes.</p> <br> <p>The first study analyzes how contractual terms between VCs and startups evolve across funding stages, using a novel dataset to uncover patterns in rights distribution. The second study examines how VCs assess founding teams, identifying key signals that influence investment decisions and their alignment with startup performance. The third study explores the relationship between gender diversity in VC firms and their investment in female-founded startups, as well as the implications for portfolio performance.</p> <br> <p>By integrating empirical findings with theoretical insights, this thesis provides a deeper understanding of the VC industry’s inner workings and offers practical implications for both investors and entrepreneurs.</p>