Spread, Scope, and Scale in Venture Capital Globalization: A Clustered Globalization Model

Ravi Madhavan*, Akie Iriyama

*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceedingChapter

1 Citation (Scopus)


This article reviews some recent developments in the literature on venture capital (VC) globalization. It then develops a conceptual model addressing the spread, scope, and scale of globalization in this critical industry that is central to innovation and entrepreneurship. It proposes the clustered globalization model as a unifying construct that brings together the spread, scope, and scale of VC globalization, and provides a baseline framework for thinking about globalization in the VC industry. In clustered globalization, the geographical spread of VC will continue but not in a "world is flat" sense; rather the emergence of more clusters worldwide is expected, and the organizational linkages between them will consist of loosely coupled VC firm families rather than integrated VC multinationals.

Original languageEnglish
Title of host publicationThe Oxford Handbook of Venture Capital
PublisherOxford University Press
ISBN (Electronic)9780199968732
ISBN (Print)9780195391596
Publication statusPublished - 2012 Sept 18
Externally publishedYes


  • Clustered globalization
  • Entrepreneurship
  • Innovation
  • Venture capital industry

ASJC Scopus subject areas

  • Economics, Econometrics and Finance(all)


Dive into the research topics of 'Spread, Scope, and Scale in Venture Capital Globalization: A Clustered Globalization Model'. Together they form a unique fingerprint.

Cite this