Last week, academics from the Harvard Business School, University of Chicago, Stanford University, and the University of British Columbia published a study titled Venture Capitalists and Covid-19. They surveyed 1,000 venture capitalists representing 900 firms about their business prospects through five months of the crisis.
Many commentators, experts, and VC firms were calling COVID-19 the “Black Swan of 2020,” predicting devastating losses, drops in business activity, and canceled meetings. The study claims that most of the 1,000 venture capitalists escaped this fate. “The direst predictions…have not materialized,” the study finds.
VCs have slowed their investment pace (71% of normal). They expect to invest at 81% of their normal pace over the coming y…