“…Previous studies have investigated determinants of Private Equity (PE) and Venture Capital (VC) using different aspects namely stages of investment (Khan, Khan and Hameed, 2020;Khan et al, 2021), VC availability (Li and Zahra, 2012), investment size (Ning, Wang and Yu, 2015), performance (Hege, Palomino and Schwienbacher, 2011), networks (Guler and Guillén, 2010;Milosevic, 2018) governance (Hearn, Randøy and Oxelheim, 2016) fundraising (Gompers and Lerner, 1998;Oberli, 2014) and exit options (Cumming and Fleming, 2002;Cumming and MacIntosh, 2003;Cumming, Fleming and Schwienbacher, 2006). Other facets examined include decisions to cross border (Hain et al, 2016;Devigne et al, 2018;Ragosa and Warren, 2019), contractual choices and syndications (Lerner, 1994;Tykvová, 2018) structures and deal processes (Karsai, Wright and Filatotchev, 1997;Karsai et al, 1998;Smolarski 2 et al, 2005;Ahlstrom, Bruton and Yeh, 2007;Klonowski, 2007) and post-investment processes (Wright et al, 1999;Da Rin, Hege, et al, 2006;Cumming, Schmidt and Walz, 2008).…”