PRINT THIS PAGE The determinants of venture capital portfolio size: empirical evidence16/07/2003. Source: University of Alberta. Douglas Cumming 
 The size of a venture capital fund's portfolio is dependent on the underlying characteristics of that fund, says Douglas Cumming of the University of Alberta. Fund type, size, duration and the number of venture capital fund managers all contribute to deciding the number of companies a given fund will invest in.
The nature of the portfolio company will also affect portfolio size. Factors including sector and stage of investment, as well as the nature of financing, will control the number of investee companies a venture capital fund amasses.
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Douglas Cumming, B.Com.(Hons.) (McGill), M.A. (Queen's), J.D. (Toronto), Ph.D. (Toronto), CFA, is an Assistant Professor of Finance, Economics and Law at the University of Alberta School of Business. Contact address: School of Business, University of Alberta, Edmonton, Alberta, Canada T6G 2R6, Tel: 1-780-492-0678, Fax: 1-780-492-3325, E-mail: Douglas.Cumming@ualberta.ca, or visit www.bus.ualberta.ca/dcumming
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