Raj Aggarwal, F. C. Sullivan Professor of International Business and Finance, was noted in a Wall Street Journal blog entry on venture capital.
The blog, by Vivek Wadhwa, Vice President of Innovation and Research at Singularity University and Director of Research at the Center for Entrepreneurship and Research Commercialization in the Pratt School of Engineering at Duke University, discusses research into the financing of entrepreneurs by venture capitalists and angel investors.
Wadwha notes that his team at Duke University worked with Aggarwal and Krisztina Holly at the University of Southern California to research the backgrounds of 549 entrepreneurs whose companies had made it past the begging-for-seed-money stage and were generating real revenue. The researchers found that only 9% had raised any angel capital, and 11% had raised venture capital after they had grown.
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