Why do European venture capital companies syndicate?
) (Department of Business Administration, School of Economics and Management, Lund University) Abstract Financial theory, resource-based theory and access to deal flow are used to explain syndication practices among European venture capital (VC) firms. The desire to share risk and increase portfolio diversification is a more important motive for syndication than the desire to access additional intangible resources or deal flow. Access to resources is, however, more important for non-lead than for lead investors. When resource-based motives are more important, the propensity to syndicate increases. Syndication intensity is higher for young VC firms and for VC firms, specialised in a specific investment stage. Finally, syndication strategies are similar across European countries, but differ from North American strategies. Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options: 1. Check below under “Related research
