Venture Capital Communities
研究发现风险投资家倾向于与少数偏好伙伴组成联合投资群体（称为“社区”），这些社区成员在年龄、连通性和功能风格上相似，但地理位置不限；社区融资与企业更快成熟和更多创新相关，尤其对无创新历史的早期企业。
Although venture capitalists (VCs) can choose from thousands of potential syndicate partners, many co-syndicate with small groups of preferred partners. We term these groups “VC communities.” We apply computational methods from the physical sciences to 3 decades of syndication data to identify these communities. We find that communities comprise VCs that are similar in age, connectedness, and functional style but undifferentiated in spatial location. Machine-learning tools classify communities into 3 groups roughly ordered by their age and reach. Community VC financing is associated with faster maturation and greater innovation, especially for early-stage firms without an innovation history.