Is Venture Capital Worth It?

A paper in the current Journal of Business Venturing asks the perennially popular question of whether venture capital is, you know, worth it. After comparing post-IPO performance of matched venture-backed and non-venture-backed companies the author came to the following nose-tweaking conclusion:

Results suggest that founders motivated primarily by wealth creation and those motivated by remaining in control of their ventures should, in both instances, minimize VC backing when taking their ventures public.