Knockaert, MirjamLockett, AndyClarysse, BartWright, Mike2017-12-022017-12-02200610.1504/IJTM.2006.009445http://hdl.handle.net/20.500.12127/1972This paper uses a unique dataset to examine the neglected but important issue concerning the relationship between the human capital and fund characteristics of venture capitalists and post-investment follow-up behaviour in early stage high-tech investments. We found no indication that involvement in monitoring activities by the investment manager is determined by either fund or human capital characteristics. In relation to value-adding activities, human capital variables were the most important, with previous consulting experience and entrepreneurial experience contributing to a higher involvement in value-adding activities. Furthermore, the diversity of an investment manager's portfolio was negatively related to involvement in value-adding activities. Finally, with respect to fund level characteristics, we found that investment managers of captive funds were less involved in value-adding activities.enInnovation ManagementInternational Journal of Technology Management358443588068185681892209