Immigrant Asian entrepreneurs have played a prominent role in the entrepreneurial dynamism of Silicon Valley over the last three decades. This paper traces the trend in new venture formation in Silicon Valley by ethnic Asian entrepreneurs over the years up to 2004, and examines the changing pattern of venture capital (VC) that funded them. We found an increasing share of ventures run by Asians among VC-backed ventures created in Silicon Valley over the years, and that these ventures are disproportionately concentrated in software, semiconductors, and communications. We also found that VC firms with significant Asian LPs had higher propensities of funding ventures led by Asian entrepreneurs.
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