Follow-On Financing of Venture Capital–Backed Companies

Tom Vanacker, Arnout Seghers and Sophie Manigart

in The Oxford Handbook of Venture Capital

Published in print April 2012 | ISBN: 9780195391596
Published online September 2012 | | DOI:

Series: Oxford Handbooks

Follow-On Financing of Venture Capital–Backed Companies


This article empirically investigates the different sources of finance raised by young companies after they received their first round of venture capital finance. It begins with a discussion of the theoretical background and development of the hypotheses. Next it discusses the data set and describes the data sources used, how finance events are defined, and how the independent variables are measured. It then presents the main research findings, which provide stylized facts about how growth-oriented entrepreneurial companies finance their operations after having received venture capital. This is followed by a discussion and conclusion.

Keywords: financing round; fundraising; venture capital finance; entrepreneurial companies

Article.  11004 words. 

Subjects: Economics ; Financial Markets

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