Venture‐Capital Syndication: Improved Venture Selection vs. The Value‐Added Hypothesis

By J. Brander, Raphael Amit, Werner Antweiler. 2002

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Citations in the corpus

Resources and Relationships in Entrepreneurship: An Exchange Theory of the Development and Effects of the Entrepreneur-Investor Relationship (2017, background): “VCs obtain capital from investors and, like bankers, are the intermediaries between these other investors and an entrepreneur, whereas angel investors directly invest their owncapital (Amit,Brander,&Zott, 1998; Brander et al., 2002; Sohl, 2003).”
Entrepreneurial Finance Meets Organizational Reality: Comparing Investment Practices and Performance of Corporate and Independent Venture Capitalists (2010, positive): “Indeed, Brander et al. (2002) report syndicates are more likely to take place in ventures that have high variance payoffs.”
Success in Global Venture Capital Investing: Do Institutional and Cultural Differences Matter? (2014, positive): “For evidence on VC success in Canada, and comparison with U.S. VC activity, see Brander, Amit, and Antweiler (2002) and Cumming and MacIntosh (2003a), (2003b).”
Venture Capital Investment Strategy and Portfolio Failure Rate: A Longitudinal Study (2006, background): “However, our findings run counter to the notion that syndication is an important strategy for knowledge sharing and uncertainty reduction (Brander et al., 2002; Bygrave, 1987; Lerner, 1994), as applied to the context of averting failure.”
The Importance of Trust for Investment: Evidence from Venture Capital (2016, background): “[6] Brander, James, Werner Antweiler, and Ra¢ Amit (2002) Venture Capital Syndication: Improved Venture Selection vs.”
Private Equity Syndication: Agency Costs, Reputation and Collaboration (2009, positive): “Further, by syndicating, investors are able to share their specific knowledge and complementary skills and as a result add more value to the portfolio company (Brander et al., 2002).”
Networking as a Barrier to Entry and the Competitive Supply of Venture Capital (2010, positive): “…capital and diversifying risk (Lerner (1994)), improved screening (Sah and Stiglitz (1986)), obtaining access to other VCs’ deal flow on a reciprocal basis (Lerner (1994)), and the ability to draw on the expertise of other VCs when nurturing investments (Brander, Amit, and Antweiler (2002)).”
Playing to their Strengths? Evidence that Specialization in the Private Equity Industry Confers Competitive Advantage (2007, neutral): “(Bottazzi et al 2004), driven by reputational considerations (Lerner 1994, Brander et al 2002 ).”
Assessing the impact of public venture capital programmes in the United Kingdom: : Do regional characteristics matter? (2015, neutral): “A second approach focuses on the level of the VC fund, trying to assess the financial performance of publicly supported VC funds relative to private VC funds (Cumming and Macintosh, 2003; Brander et al., 2002).”