# kaal:claim:3962614-004

**Claim.** Early stage funding fell from thirty five to twenty seven percent of total VC funding as venture capitalists increasingly focused on funding later stage companies.

**Type.** empirical  **Support.** evidenced

**Source quote.**

> Early-stage funding fell from thirty-five to twenty seven percent of total VC funding as VCs increasingly focus on funding later-stage companies.

**From.** Wulf A. Kaal, *REPUTATION AS CAPITAL – How Decentralized Autonomous Organizations Address Shortcomings in the Ventu* (2021), II.1.a) Liquidity - Capital Calls and Raising Capital, page 6

**Cite as.** Wulf A. Kaal, REPUTATION AS CAPITAL – How Decentralized Autonomous Organizations Address Shortcomings in the Ventu (2021). SSRN: https://ssrn.com/abstract=3962614

**Verify.** sha256 of source PDF `c6e202e77fd08db801f932774026458b94e5d103abf30cb1189fe6a1c5edf391` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202021%20-%20REPUTATION%20AS%20CAPITAL%20%E2%80%93%20How%20Decentralized%20Autonomous%20Organizations%20Address%20Shortcomings%20in%20the%20Ventu.pdf

**Topics.** innovation, economics

**Keywords.** early-stage-funding, funding-gap, venture-capital, market-trends

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