Search Model of Venture Capital, Entrepreneurship, and Unemployment
The authors develop a search model of venture capital in which the number of successful matches of entrepreneurs and venture capitalists at any moment in time is a function of the number of entrepreneurs searching for funds, the number of VCs searching for entrepreneurs, and the number of vacancies posted by each VC.
Link
http://www.bankofcanada.ca/en/res/wp/2005/wp05-24.pdf