Is a VC partnership greater than the sum of its partners?
By: Michael Ewens, Matthew Rhodes-Kropf
Contributors: Rhodes-Kropf, Matthew, 1971-; Harvard Business School
Series: Working paper / Harvard Business School -- 12-097; Working paper (Harvard Business School) -- 12-097
Publisher: Harvard Business School
Published: 2013
Place of publication: Boston]
Language: eng
Number of pages: 38
Description: 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 differences and exit style differences even among venture partners investing while employed 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.
Notes: "April 2012. (Revised January 2013.)" -- Publisher's website.

Includes bibliographical references (pages 28-30).