LET Ω ≡ 1 2 n denote a set of states of nature, n ≥ 3. Let C denote a set of cases, the cardinality of which can be uncountably large. A database I is a function that maps C to Z+ and ∑ j∈C I(j) < ∞, where I(j) denotes the number of observations of case j in the database.1 Let I denote the set of all possible databases. A probabilistic belief function p : I → (Ω) maps databases to probability distributions over Ω. BGSS axiomatized a class of probabilistic belief functions that encapsulates the idea of “similarity-weighted frequencies,” that is, each p in this class admits a representation such that, for every I ∈ I ,

This paper examines the benefits to venture capital firms of their officers holding directorships in mature public companies in terms of fundraising and investment performance. Our empirical results show that venture capital firms raise more funds, set higher fund-raising targets, and are more likely to successfully exit their investments post-appointment of their officers to boards of directors of S&P 1500 companies. Directorship status in mature public firms provides venture capital firms with enhanced networks, visibility, and credibility, all of which facilitate their fundraising activities. In addition, the knowledge, expertise, and experience acquired through holding directorships in mature public firms are beneficial for their portfolio companies, as measured by the likelihood of successful exits.