Venture Capitalists' Decision to Syndicate

摘要: Financial theory, access to deal flow, selection, and monitoring skills are used explain syndication in venture capital firms six European countries. In contrast with U.S. findings, portfolio management motives more important for than individual motives. Risk sharing, diversification, larger deals selection of deals. This holds later stage early investors. Value adding is a stronger motive investors investors, however. Nonlead join syndicates the value-adding syndicate partners.