Handbook of the Economics of Finance

Chapter 8

A Survey of Venture Capital Research^*

Marco Da Rin^a, Thomas Hellmann^b and Manju Puri^c

^aDepartment of Finance, Tilburg University, Tilburg, Netherlands

^bSauder School of Business, University of British Columbia and NBER, Vancouver, BC, Canada

^cFuqua School of Business, Duke University and NBER, Durham, NC, USA, [e-mail]

Abstract

This survey reviews the growing body of academic work on venture capital. It lays out the major data sources used. It examines the work on venture capital investments in companies, looking at issues of selection, contracting, post-investment services, and exits. The survey considers recent work on organizational structures of venture capital firms, and the relationship between general and limited partners. ...