6. The Structure of Venture Capital and Private Equity Fund Portfolios

  1. Douglas Cumming
  1. Gennaro Bernile1,
  2. Douglas Cumming2 and
  3. Evgeny Lyandres3

Published Online: 13 DEC 2011

DOI: 10.1002/9781118267011.ch6

Private Equity: Fund Types, Risks and Returns, and Regulation

Private Equity: Fund Types, Risks and Returns, and Regulation

How to Cite

Cumming, D. (2010) The Structure of Venture Capital and Private Equity Fund Portfolios, in Private Equity: Fund Types, Risks and Returns, and Regulation, John Wiley & Sons, Inc., Hoboken, NJ, USA. doi: 10.1002/9781118267011.ch6

Author Information

  1. 1

    Assistant Professor, School of Business, University of Miami

  2. 2

    Associate Professor and Entrepreneurship and Ontario Research Chair, Schulich School of Business, York University

  3. 3

    Assistant Professor, School of Management, Boston University

Publication History

  1. Published Online: 13 DEC 2011
  2. Published Print: 25 JAN 2010

ISBN Information

Print ISBN: 9780470499153

Online ISBN: 9781118267011

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Keywords:

  • venture capitalists;
  • entrepreneurs;
  • portfolio companies;
  • optimal profit-sharing rule;
  • portfolio structure

Summary

This chapter contains sections titled:

  • Why the Structure of Venture Capitalists' Portfolios Matters

  • Optimal Effort Levels

  • Optimal Portfolio Size and Profit-Sharing Rule

  • Empirical Tests

  • Conclusion

  • Notes

  • About the Authors

  • Acknowledgment