kaal:claim:2808132-041

The dominance of later stage venture capital investments could be read as risk-averse follow-on behavior, but venture capital funds are unlikely to make later stage investments unless portfolio companies substantially fulfilled their contractual performance obligations, which preserves the signal value of the data.

At the same time, however, VC funds are not likely to continue with later stage investments if contractual performance obligations/thresholds of their portfolio companies were not fulfilled to a substantial degree.

Wulf A. Kaal, Erik P.M. Vermeulen, How to Regulate Disruptive Innovation - From Facts to Data (2016), V.2 Industries Represented, p. 36
https://ssrn.com/abstract=2808132 · source PDF

Wulf A. Kaal, Erik P.M. Vermeulen, How to Regulate Disruptive Innovation - From Facts to Data (2016). SSRN: https://ssrn.com/abstract=2808132

• later stage venture capital investments following earlier seed investments in the same company

mechanismsupport: arguedinnovation

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