• Contracts between entrepreneurs and investors: Terms and negotiation processes

      Landström, Hans; Manigart, Sophie; Mason, Colin; Sapienza, Harry J. (1998)
    • Entrepreneurship, Sustainable Growth and Performance

      Landström, Hans; Crijns, Hans; Laveren, Eddy; Smallbone, David (2008)
    • How international are European venture capital firms?

      Manigart, Sophie; De Maeseneire, Wouter; Wright, Mike; Pruthi, S.; Lockett, Andy; Bruining, Hans; Hommel, Ulrich; Landström, Hans (2008)
    • Human capital and the internationalisation of venture capital firms

      Manigart, Sophie; Collewaert, Veroniek; Wright, Mike; Pruthi, S.; Lockett, Andy; Bruining, Hans; Hommel, Ulrich; Landström, Hans (2005)
    • Human capital and the internationalization of venture capital firms

      Manigart, Sophie; Collewaert, Veroniek; Wright, Mike; Pruthi, S.; Lockett, Andy; Bruining, Hans; Hommel, Ulrich; Landström, Hans (2006)
      We examine the neglected area of internationalisation by VCs. Using a representative sample of 195 VCs, we show that the decision of a European VC firm to invest internationally is driven by its human resources. Having more VC executives in general and more VC executives with previous international experience in specific, results in a higher probability of investing internationally. In contrast, more VC executives with experience in the VC industry or with an engineering background lead to a higher probability of remaining domestic.
    • Human capital and the internationalization of venture capital firms

      Manigart, Sophie; Collewaert, Veroniek; Wright, Mike; Pruthi, S.; Lockett, Andy; Bruining, Hans; Hommel, Ulrich; Landström, Hans (International Entrepreneurship and Management Journal, 2007)
    • The syndication of venture capital investments in Europe: Evidence from five European countries

      Manigart, Sophie; Lockett, Andy; Meuleman, Miguel; Landström, Hans; Desbrières, Philippe (2002)
    • Venture capitalists' decision to syndicate

      Manigart, Sophie; Lockett, Andy; Meuleman, Miguel; Wright, Mike; Landström, Hans; Bruining, Hans; Desbrières, Philippe; Hommel, Ulrich (Entrepreneurship: Theory and Practice, 2006)
      Financial theory, access to deal flow, selection, and monitoring skills are used to explain syndication in venture capital firms in six European countries. In contrast with U.S. findings, portfolio management motives are more important for syndication than individual deal management motives. Risk sharing, portfolio diversification, and access to larger deals are more important than selection and monitoring of deals. This holds for later stage and for early stage investors. Value adding is a stronger motive for syndication for early stage investors than for later stage investors, however. Nonlead investors join syndicates for the selection and value‐adding skills of the syndicate partners.
    • Why do European venture capital companies syndicate?

      Manigart, Sophie; Lockett, Andy; Meuleman, Miguel; Wright, Mike; Landström, Hans; Bruining, Hans; Desbrières, Philippe; Hommel, Ulrich (2002)
      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.