Miguel, AntónioPinheiro, Ana LuísaSegre, Alice2024-05-102024-05-102023-01-202023-01-20http://hdl.handle.net/10362/167218How can a Venture Capital fund improve its selection process? This thesis investigates the MSM fund case to derive learnings for its investment team. Portfolio’s ventures’ characteristics and reporting practices are checked against ventures’ financial and impact performance. Findings that can be derived from trends in the current sample suggest that frequent and thorough reporting may correlate with better venture performance. Also, among the company characteristics analyzed, Revenue model did not appear to correlate with a better venture’s performance. Differently, the combination of Business model and Industry choice may be relevant for the fund’s team to review.engVenture capitalImpact investmentSuccess factorReportingmaster thesis203364503