RT Journal Article
SR Electronic
T1 Venture Capital High-Tech Investments
JF The Journal of Private Equity
FD Institutional Investor Journals
SP 7
OP 17
DO 10.3905/jpe.2001.319979
VO 4
IS 2
A1 William D. Bygrave
A1 Gregory Johnstone
A1 Michael Matchett
A1 James Roedel
YR 2001
UL https://pm-research.com/content/4/2/7.abstract
AB To what extent can we predict the success of enterprises in which venture capitalists invest? This study examines 117 venture-capital-backed companies in the Internet, software, hardware, and semiconductor industries that had initial public offerings between 1994 and 1997. The authors consider strategic and operating criteria, including management. Findings reveal that these companies&' market capitalization correlated with quality of management, R&D expenses, sales revenue, sales revenue growth, industry segment, and the life-cycle stage of the industry.