Does the Value of Venture Capital Vary Over Investees Life Cycle? Evidence from Irish Investees

Abstract Venture capital plays a catalytic role in the entrepreneurial process, which is vital for competitive vibrancy, economic growth and job creation. This is particularly true in the Irish context, where venture capital while still in its infancy is more comparable to the US and UK rather than Continental Europe. This paper investigates investee perceptions on the nature and quality of VC involvement in Ireland and examines their relation with the investees’ assessment of VC value. Overall, we document a life cycle in VC activities. Furthermore, the frequency and type of VC–investee interactions that influence the investees’ perceived contribution of VC to performance also differ over the life cycle.