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Differences Between U.S. and Korean Venture Capitalists
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Differences Between U.S. and Korean Venture Capitalists

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  • 1. Survey of the Differences Between U.S. and Korean Venture Capital<br />U.S. Venture Capital Firms-from 38 Firms<br />Korean Venture Capital Firms-from 21 Firms<br />QuestionU.S.KoreanWhich role is regarded as important? (Selection and fund assistance, growth assistance, IPO assistance)Growth Assistance-78%Fund Assistance-22%Growth Assistance-57%Fund Assistance-43%Which stage is the role of a venture capitalist most important? (Start-up stage, early stage, expansion stage, pre-IPO stage)Early stage-54%Start-up stage-17%Expansion stage-11%Early stage-52%Expansion stage-29%No Difference-19%Time Allocation of venture capitalists (evaluation of investments, monitoring, consulting, recruitment, assistance in dealing with outside entities, harvesting)Evaluation of investments-41%Monitoring-38%Evaluation of Investments-71%Monitoring-14%Consulting-14%Stages that have the most funding from venture capitalists (Start-up stage, early stage, expansion stage, pre-IPO stage)Early stage-50%Start-up stage-29%Pre-IPO stage-8%Expansion stage-57%Early stage-43%Most important growth assistance roles (Consulting, monitoring, strategic networking, recruiting)Strategic networking-39%Consulting-19.7%Recruiting-18.4%Monitoring-17%Consulting-62%Strategic networking-29%Monitoring-10%<br />Monitoring role of VCs (review or reported documents, interview with managers, participation in the meeting of board of directors, confirmation of information)Participation in the meeting of board of directors-60.3%Interview with managers-23.5%Confirmation of information-13.8%Interview with managers-67%Review of reported documents-29%Capital under management per firmMean-$394.6 millionMedia-$130 millionMean-$183.1 millionMedian$91.7 millionNumber of years in venture capital businessMedian-11.7 yearsMedian-6.5 yearsNumber of portfolio companies each manager is responsible for follow-upMean-6Median-6Mean-10.4Median-10Percentage of follow-on investments after first investmentMean-75.8%Mean-26.2%<br />