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Friends or Foes: The Interrelationship between Angel and Venture Capital Markets

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NBER2014-05-01 更新2025-01-04 收录
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This paper develops a theory of how angel and venture capital markets interact. Entrepreneurs first receive angel then venture capital funding. The two investor types are 'friends' in that they rely upon each other's investments. However, they are also 'foes', because at the later stage the venture

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2014-05-01
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