Hidden in Plain Sight: Venture Growth with or without Venture Capital

We thank Theresa Amabile, Tania Babina, Iain Cockburn, Shane Greenstein, Josh Lerner, Ramana Nanda, Giorgia Piacentino, Manju Puri, Tim Simcoe, and Jane Wu for helpful comments, as well as participants at the Dartmouth Venture Capital and Private Equity Conference, the NBER Productivity Lunch, the Kauffman Scholars Conference, and seminar participants at Brandeis University, Michigan University, Kellogg School of Management, and Columbia Business School. We also acknowledge and thank the Kauffman Foundation for their support of our research agenda, including the Uncommon Methods and Metrics Grant and the Kauffman Dissertation Fellowship, as well as the Jean Hammond (1986) and Michael Krasner (1974) Entrepreneurship Fund and the Edward B. Roberts (1957) Entrepreneurship Fund at MIT. Yupeng Liu provided excellent research assistantship. All errors and omissions are of course our own. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.