How Do Venture Capitalists Make Decisions?

TL;DR — NBER Working Paper 22587: a survey of how venture capitalists source, select, value and support investments.

A working paper built on a survey of institutional venture capitalists, covering deal sourcing, selection, valuation, deal structure, post-investment value-add and exits.

How much weight it carries: A survey of what investors say they do. It is self-reported, and it is a working paper rather than the journal version.

64 pages. A copy is archived locally against link rot; the header links the original source.