The cost of friendship

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Immigrant entrepreneurship in America: Evidence from the survey of business owners 2007 & 2012 (2020, unknown): “Hegde and Tumlinson (2014) document that venture investors are more likely to invest in a firm run by someone of the same ethnic background, and Gompers et al. (2016) document how venture inventors also co-invest with each other along ethnic lines.”
How do venture capitalists make decisions? (2020, background): “Similarly, Gompers et al. (2010) show that high performing VC firms are more likely to invest in successful serial entrepreneurs who have higher investment success rates. Sahlman (1990) also emphasizes the importance of having a wide funnel to find promising investments.”
The Strength of Strong Ties in an Emerging Industry: Experimental Evidence of the Effects of Status Hierarchies and Personal Ties in Venture Capitalist Decision Making: The Strength of Strong Ties (2015, unknown): “…from these studies suggest that investment decisions can be influenced directly through personal ties (e.g., Shane and Cable, 2002; Hsu, 2007; Gompers, Mukharlyamov, and Xuan, 2012) and indirectly based on the relative status of other venture capital firms (e.g., Hochberg et al., 2007;…”
Ethnic matching in the U.S. venture capital market (2015, background): “This perspective complements the literature showing the importance of ethnicity for trust (Glaeser et al., 2000; Fisman, 2003), innovation (Agrawal et al.”