Publicação
Funding, fast and slow: time varying effects, industry heterogeneity, and drivers of capital raising speed
| Resumo: | This study examines how fundraising speed relates to startup performance. Using longitudinal data on US and UK ventures founded between 2007 and 2017, we estimate cause-specific Cox models with competing risks at the Seed and Series A stages. We assess whether time-to funding remains a significant predictor of subsequent funding, acquisition, IPO, or closure, controlling for founder, venture, round and investor characteristics. Faster-funded ventures exhibit higher hazards of both upward transitions and failure, while slower ventures follow more stable trajectories. These patterns are stronger in the US than in the UK, suggesting structural differences in venture financing dynamics. |
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| Autores principais: | Wilneder, Stefan Alexander |
| Assunto: | Venture capital Entrepreneurial finance Survival analysis United States of America United Kingdom |
| Ano: | 2026 |
| País: | Portugal |
| Tipo de documento: | dissertação de mestrado |
| Tipo de acesso: | acesso aberto |
| Instituição associada: | Universidade Nova de Lisboa |
| Idioma: | inglês |
| Origem: | Repositório Institucional da UNL |
| Resumo: | This study examines how fundraising speed relates to startup performance. Using longitudinal data on US and UK ventures founded between 2007 and 2017, we estimate cause-specific Cox models with competing risks at the Seed and Series A stages. We assess whether time-to funding remains a significant predictor of subsequent funding, acquisition, IPO, or closure, controlling for founder, venture, round and investor characteristics. Faster-funded ventures exhibit higher hazards of both upward transitions and failure, while slower ventures follow more stable trajectories. These patterns are stronger in the US than in the UK, suggesting structural differences in venture financing dynamics. |
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