The findings, which focus on possible reasons for the difference in performance between UK/European and USA VC funds, have been shared with the BVCA (the professional association for private equity and venture capital in the UK), the ICAEW, the British Business Bank and the European Investment Fund.

Dr Keith Arundale, Senior Visiting Fellow at the ICMA Centre, commented on winning the award:

I am delighted and honoured, to have received an Adam Smith Business School prize for PhD excellence in 2018. I really enjoyed carrying out my research into venture capital fund performance and investment practices in Europe and USA, under the excellent supervision of Professor Colin Mason. I am keen to share the best practices encapsulated in the research with developing economies who are looking to kick-start their own VC ecosystems.