Experienced entrepreneurial founders, organizational capital, and venture capital funding

This pape e capit levels of pri l capita important precursor to organizational resource attainment and performance, and so this study analyzes the correlates of heterogeneous social links with VCs. I also examine venture valuation, as it reflects enterprise quality and entrepreneurs ’ cost of financial capital. Using data from a survey of 149 early stage technology-based start-up firms, I find several notable results. First, prior founding experience (especially financially successful experience) increases both the likelihood of VC funding via a direct tie and venture valuation. Second, founders ’ ability to recruit executives via their own social network (as opposed to the VC’s network) is positively associated w holder are m therefore u