#4640. Mi Casa Es Tu Casa: Immigrant Entrepreneurs as Pathways to Foreign Venture Capital Investments

August 2026publication date
Proposal available till 21-05-2025
4 total number of authors per manuscript0 $

The title of the journal is available only for the authors who have already paid for
Journal’s subject area:
Strategy and Management;
Business and International Management;
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Abstract:
Venture capital (VC) firms predominantly source investments from local networks within tight geographic bounds. We propose a mechanism that explains these patterns. The ties VCs form to immigrant entrepreneurs when investing domestically provide access to the knowledge and connections of those immigrants, which facilitates VC investments in the immigrants homelands. We find that firms invest in more startups as their ties to entrepreneurs increase—particularly in the region where immigrants originate and when the VC faces heightened domestic competition. Such ties also enhance the odds of successful exit for the VCs investments. We demonstrate that the ties to immigrant entrepreneurs VCs establish when investing domestically provide knowledge and connections that enable future VC investments in the immigrants homelands. We find that the more ties to immigrant entrepreneurs a firm develops, the more it subsequently invests in startups. This effect is stronger when the VC firm faces heightened domestic competition (a push effect) and in the specific regions where the immigrants originate (a pull effect).
Keywords:
entrepreneurship; immigration; internationalization; networks; venture capital

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