This thesis dealt with the role of spatial proximity between venture capitalists and new ventures throughout the VC investment process and is of high practical and scientific relevance. Young and innovative high potential companies are central for the prosperous economic development of regions. At the same time, venture capital is often one of the few financing options for these companies and it is widely accepted that venture capitalists play a key role in their development. Hence, it is of utmost importance to secure an appropriate availability of venture capital for new ventures. However, it became clear throughout this thesis that the supply of venture capital is highly clustered in many countries and that Germany is no exception in this regard. Furthermore, it was revealed that spatial proximity between venture capitalists and new ventures represents an important factor in VC financing relationships. The clustering of venture capital supply and the importance of spatial proximity for the emergence of VC financing relationships leads to important implications for entrepreneurs, venture capitalist, and policy makers.
KeywordsVenture Capitalist Spatial Proximity Venture Capital Investment Venture Capital Financing Portfolio Company
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