Is the world of venture capital investors turning flat? Perspectives of radical strategic changes in high-technology new-ventures

High Technology New Ventures (HTNV) usually operate in a dynamic environment and with high levels of uncertainty. These firms operate in rapidly changing markets and are typically funded by Venture Capital (VC) investors. This paper addresses the cultural differences among VC through their approach to radical changes in strategy by comparing Israeli and non-Israeli investor groups. Following previous research cultural differentiation should be expected, however our findings indicate limited cross-country differences between VCs, suggesting that VC perspectives toward HTNV are quite similar within developed countries. Findings can be explained by the comparatively small VC community and globalization of the high technology venture markets.