BAFI Research Seminar

Is a VC Partnership Greater Than the Sum of its Partners?

Sponsored by: Dept. of Banking & Finance

Speaker(s): Michael Ewens - Carnegie Mellon Univ.

Date & Time: Friday, Oct. 11, 2013 from 10:30 a.m. to Noon

This paper investigates whether individual venture capitalists have repeatable

investment skill and to what extent their skill is impacted by the VC firm

where they work. We examine a unique dataset that tracks the performance

of individual venture capitalists’ investments across time and as they move

between firms. We find evidence of skill and exit style differences even among

venture partners investing at the same VC firm at the same time. Furthermore,

our estimates suggest the partner’s human capital is two to five times

more important than the VC firm’s organizational capital in explaining performance

Contact Information:
Tedda Nathan
Dept. Administrator

03 Peter B. Lewis Building
11119 Bellflower Road
Cleveland, OH 44106-7235
United States

Attachment: Ewen paper

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Weatherhead School of Management
Case Western Reserve University

10900 Euclid Avenue
Cleveland, Ohio 44106-7235 USA