The Impact of Investment Networks on Venture Capital Firm Performance: A Contingency Framework

Venture capital (VC) syndicates involve repeated transactions among partners and therefore possess network‐like characteristics. Although networks provide access to important externalities, extant literature has not studied the effects of the focal firm's resource needs on performance benefits arising from different network structures. We investigate the impact of two proxies for firm‐level resources, namely maturity and status, on the...