Conference Agenda

Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).

Please note that all times are shown in the time zone of the conference. The current conference time is: 9th May 2025, 03:43:46am EDT

 
 
Session Overview
Session
Track T8-1: Venture Capital and Innovation
Time:
Tuesday, 20/May/2025:
8:30am - 9:15am

Session Chair: William Gornall, University of British Columbia
Discussant: Laura Lindsey, ASU
Location: Gateway North 213


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Presentations

How do Venture Capitalists become Influential?

Marta Zava

Bocconi University & Goethe University

I explore how venture capital firms (VCs) become more influential in their co-investment networks. While we know that well-connected VCs perform better, we do not fully understand how less-connected VCs can improve their position. Using data from US VC investments (2010-2021, 4.5 million connections), I study three ways VCs can become more central: joining deals with influential VCs, investing in their portfolio companies, or getting them to invest in your portfolio companies. The results show that getting top VCs to invest in your portfolio companies is most effective way to increase network influence. This boost happens whether or not the company connecting the VCs is successful, suggesting that connections to prominent VCs matter more than immediate financial returns. I employ k-shell decomposition and dynamic network analysis to track changes in investors’ positions and quantify influence, Granular Instrumental Vari- ables and Triple Difference analyses to study the different connections’ impact.

Zava-How do Venture Capitalists become Influential-1171.pdf


 
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