This paper uses a survey dataset of 51 Venture Capital Companies to address a segmentation of the venturecapital industry. Our paper yields two specific contributions. First, we analyze in a Continental Europeanbank-based system the most important investment criteria identified by previous empirical literature. Second, weshow that existing differences in the use of the investment criteria depend on the existence of asymmetricinformation problems associated to specific characteristics of the venture capital companies. Knowing whatinvestment criteria are the most important for venture capitalists might help both entrepreneurs to elaboratebetter proposals, and venture capitalists to improve their decision process and achieve better survival rates.
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