Genetically Engineered: Why Some Venture Capital Firms are more Successful than Others
研究了风险投资公司创始团队的经验类型对后续融资成功的影响，发现风投、高管和咨询经验有助成功，而创业经验反而阻碍。
While venture capital has received a tremendous amount of attention, prior research has predominantly looked at venture capital firms (VCFs) post raising their first fund. In this paper, we move the point of analysis back further and ask what type of founding team experience best predicts VCF success, controlling for firm strategy, firm size, and the environment upon which the firm was born. Empirical results show that venture capital, senior management, and consulting experience aids VCF success, while entrepreneurial experience impedes it. None of the control variables affect a VCF's ability to raise subsequent funds.