NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Venture Capital Contracts

Michael Ewens, Alexander S. Gorbenko, Arthur Korteweg

NBER Working Paper No. 26115
Issued in July 2019

---- Acknowledgments ----

We are grateful to Ilona Babenko (discussant), Tania Babina (discussant), Vincent Glode (discussant), Will Gornall (discussant), Igor Makarov (discussant), Pavel Zryumov (discussant), Steven Kaplan, Gordon Phillips, seminar participants at Caltech, Northwestern University (Kellogg), Tulane, and USC, and participants at the 2019 American Finance Association meetings, the 2019 Midwest Finance Association meetings, the 2019 Financial Intermediation Research Society meetings, the 2018 NBER Entrepreneurship Summer Institute, the 2018 London Private Equity Symposium, the 2018 Financial Research Association conference, and the 2018 Stanford Financing of Innovation Summit. Jun Chen provided valuable research assistance. We thank the Linde Institute of Economic and Management Sciences for funding. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

---- Disclosure of Financial Relationships for Michael Ewens ----

Ewens is an advisor to and investor in Correlation Ventures. Correlation Ventures provided some of the data used in this research, but had no input in its production.

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