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In the venture capital (VC) industry, firms often co-invest with other peers in syndicated deals. This process is a form of investment alliance that generates networks of VC firms and start-up companies. Despite the prominent role played by syndicates, our understanding of the circumstances under which syndicates can improve a venture's performance remains limited. This book intends to fill this gap and explore the performance dynamics surrounding networks in the venture­capital industry. It also introduces interested readers to network studies and methods. Chapter 1 investigates the effect of the portfolio companies' network on the performance of the start-up. It distinguishes between connections in the same or different industries, it examines how different ties lead the focal investee company to better performance, namely, the achievement of an IPO or an M&A event. This chapter contributes to the VC literature by showing that other network attributes beyond network centrality should be considered for explaining the performance benefits of certain networks.

In the venture capital (VC) industry, firms often co-invest with other peers in syndicated deals. This process is a form of investment alliance that generates networks of VC firms and start-up companies. Despite the prominent role played by syndicates, our understanding of the circumstances under which syndicates can improve a venture's performance remains limited. This book intends to fill this gap and explore the performance dynamics surrounding networks in the venture­capital industry. It also introduces interested readers to network studies and methods. Chapter 2 studies the impact of the focal VC firms' network structure on the performance of the VC investor. Different syndicates lead to different network structures that, in turn, offer different performance benefits to the focal investor.

In the venture capital (VC) industry, firms often co-invest with other peers in syndicated deals. This process is a form of investment alliance that generates networks of VC firms and start-up companies. Despite the prominent role played by syndicates, our understanding of the circumstances under which syndicates can improve a venture's performance remains limited. This book intends to fill this gap and explore the performance dynamics surrounding networks in the venture­capital industry. It also introduces interested readers to network studies and methods. Chapter 3 examines the impact of investment syndicates' composition on the performance of the syndicates. It provides a holistic picture of conditions under which syndicates are advantageous to the focal actor.

In the venture capital (VC) industry, firms often co-invest with other peers in syndicated deals. This process is a form of investment alliance that generates networks of VC firms and start-up companies. Despite the prominent role played by syndicates, our understanding of the circumstances under which syndicates can improve a venture's performance remains limited. This book intends to fill this gap and explore the performance dynamics surrounding networks in the venture­capital industry. It also introduces interested readers to network studies and methods. The Conclusion summarizes the remainder of the book. It highlights contributions to the alliance, entrepreneurship, and network literatures, and it offers guidance to practitioners. In particular, it suggests that firms should choose partners carefully because these partners influence network structures and the investment alliances established. From the start-up's perspective, although VC is an important source of financing, VC-backed start-ups often fail or lack the traction necessary to achieve an exit. Start-ups should thus approach prospective investors considering not only their capital, status, and potential to add value but also considering the network that these investors can offer.

Top management teams in highly dynamic businesses perform better when they accept, even relish, interruptions and do multiple tasks at once.