Venture Capital

New Evidence on Venture Debt (joint with William Mann)

One fundamental, long-standing pattern in the funding of early-stage companies has been the use of equity-style investments by venture capitalists (VCs). As a result, the perception has been that debt contracts are a negligible component of the funding picture for […]

Exchanges of Innovation Resources Inside Venture Capital Portfolios

Conditionally Accepted in Journal of Financial Economics

I explore exchanges related to the distribution and promotion of innovations between companies sharing common venture capital investors. I show that after companies join investors’ portfolios, exchanges between them and other companies in the portfolios increase by an average of […]