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This article argues for the emotional embeddedness of the entrepreneurial act as a moderator of its social embeddedness. Building on the theoretical grounds of the sociology of emotions, we propose the study of entrepreneurial affect as an element of the social–emotional interaction between the entrepreneur and the others who are influenced by the entrepreneurial process. The empirical context of corporate entrepreneurship is used to illustrate how the emotion cycle around the entrepreneurial act, involving the emotions of corporate entrepreneurs and others, indicates the emotional embeddedness of the latter. The emergence of envy toward members of two venturing programs is used to exemplify low levels of emotional and consequently social embeddedness.