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Is there an industry consensus on risk? evidence from UK venture capital contracting in high-technology

Reid, J.G.C. and Smith, J.A. (2003) Is there an industry consensus on risk? evidence from UK venture capital contracting in high-technology. In: Frontiers of Entrepreneurship Research. Babson College, Massachusetts, USA. ISBN 0910897247

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Abstract

This paper seeks to determine whether there is a received view within the UK venture capital industry on investment risk and how it can be handled. This is explored in the context of backing high-technology ventures. The methodology involves eliciting attitude to risk by direct interview with leading investors. The findings suggest industry consensus on high- and low-risk investments and the key commercial factors affecting risk. However, when non-commercial factors are investigated industry consensus breaks down.